Card Ownership

Credit cards are the form of credit most people will apply for and use during their lifetime. It's also the form of credit that people often have the most trouble managing. Once you understand how they work, though, you'll be ready to take control.

When you apply for a credit card, you choose the kind of credit you want.

  • Individual credit is only based on your assets, income and credit history. You alone are responsible for paying the bills.
  • Joint credit is based on the assets, income and credit history of both people who apply. Married couples often apply for joint credit. You may obtain more credit this way, but both will be responsible for the debt, in the event of divorce.
  • An authorized user is someone who uses the account with your permission. However, you (and your joint account holder, if any) are solely responsible for the debt.

Read the fine print
Once you’ve selected a credit card, it’s important to read your Card Agreement carefully. It gives you key information about your account: the annual percentage rate (APR), monthly minimum payment formula, annual fee, (if applicable,) and your rights in billing disputes.

All your APRs, including any promotional APRs, may increase, as permitted by law, if you pay us late or make a payment that is not honored.