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#1185003 - 05/15/09 09:20 PM Intent to be Joint Applicants - Credit Card
swiggles Offline
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swiggles
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If two people have a joint credit card account and want to increase the line, would Reg B's provisions concerning joint applicants apply? In other words, if one of the account holders asks for a credit increase, shouldn't we obtain the other account holder's joint intent statement?
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#1187956 - 05/20/09 11:37 PM Re: Intent to be Joint Applicants - Credit Card swiggles
Janedoe Offline
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There is normally a primary account holder then a secondary card is issued. The primary is the one who has control.

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#1188322 - 05/21/09 03:54 PM Re: Intent to be Joint Applicants - Credit Card Janedoe
swiggles Offline
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Originally Posted By: Janedoe
There is normally a primary account holder then a secondary card is issued. The primary is the one who has control.


I'm not referring to an account where there is a "convenience signer." I'm referring to an account where two people initially apply together and the two people are jointly and severally liable on the account. They are equals.

If my husband and I applied for a credit card account and were granted the account, I'd be plenty PO'd if, simply because he's listed first on the account, he requested to increase the line (behind my back) and this was approved without my permission, making me liable for an larger debt that I did not agree to!
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#1188412 - 05/21/09 04:41 PM Re: Intent to be Joint Applicants - Credit Card swiggles
RR Joker Offline
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sWIGGLES, I don't believe there is any requirement such as what you are referring to. If you and your husband have a joint DDA account...as you know, he or you could go in and withdraw every dime without the other's permission...
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#1188843 - 05/21/09 08:59 PM Re: Intent to be Joint Applicants - Credit Card RR Joker
swiggles Offline
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Originally Posted By: RR joker
sWIGGLES, I don't believe there is any requirement such as what you are referring to. If you and your husband have a joint DDA account...as you know, he or you could go in and withdraw every dime without the other's permission...


Yes, but a DDA account isn't a loan subject to Regulation B. A credit card account is a loan.

Use this example. My husband and I apply for an unsecured loan. Subsequently, my husband applies for new money to be added to the loan.
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