If you're strictly speaking about the cards, it depends how you issue them, IMO. Do they each have their own 16 digit numbers, or do they have the same number? Most places offer each cardholder a different number so that in the case of loss or theft only one card has to be cancelled. In that case, then the husband could only cancel his own, and the wife hers, respectively.
If one of the two joint signers reports both cards as lost or stolen, I would hotcard them both, but only issue a new one to the person reporting (until I spoke to the other person on the account directly to make sure they wanted a new card).
Is that what you meant?
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