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Tuesday, March 5, 2024

11 Best Credit Cards for Every Couple’s Needs in 2024

Love and money don’t always go hand in hand. However, for many couples, sharing a credit card is a solid choice that can strengthen finances and make life a lot easier!

Having access to the same credit card can provide protection, rewards, and other benefits that are essential for any couple. It can also help you save on annual costs.

So whether you’re buying a house together or booking that long-awaited honeymoon, having a credit card with your partner can be worth it.

11 best credit cards for couples

1. American Express® Gold Card

If you and your partner are world travelers or like to date regularly, American Express® Gold pays handsomely for dining out and travel. The card pays 4x points at restaurants and 3x points on flights when you book directly with the airlines or amextravel.com. You can also earn 4x points on groceries for the nights you like to stay.

Plus points

  • No foreign transaction fees
  • Access more Amex offers
  • Multiple payment options to make it as affordable as possible

Check it out: American Express® Gold Card

2. Blue Cash Preferred® Card from American Express

If you and your partner like to have a date night at home, look for a card like Blue Cash Preferred® from American Express that pays 6% on groceries, up to $6,000 per year, and 6% on streaming services. You can enjoy your stays and earn money back.

Plus points

  • Intro 0% purchase APR
  • Additional cashback options on gas and transit
  • Credits for certain entertainment subscriptions, such as Disney Bundle

Cons

  • Great credit required
  • Annual fee after the first year

Check it out: Blue Cash Preferred® Card from American Express

3. Blue Cash Everyday® Card from American Express

If you have large purchases in the future, a credit card like Blue Cash Everyday® with an introductory APR of 0% for 15 months can save you a lot of money. Plan your budget to pay off the balance before the introductory period ends so you save money and can make your purchase.

Plus points

  • No annual fees
  • Pays higher cashback on groceries, online purchases and gas
  • Extends 0% APR offer on purchases and balance transfers for 15 months

Cons

Check it out: Blue Cash Everyday® Card from American Express

4. Bank of America® Customized Cash Rewards Credit Card

Couples who like choice prefer the Bank of America® Customized Cash Rewards Credit Card because you can change the category to earn 3% quarterly. This works great for couples whose expenses change throughout the seasons, helping you maximize your cashback.

Plus points

  • No annual fees
  • Extends the 0% introductory APR offer on purchases and balance transfers
  • Automatically earn 2% back on groceries and 1% on everything else

Cons

  • Spending limits for rewards
  • Only relationship customers can earn tiered rewards (25% – 75% rewards bonus)

Check it out: Bank of America® Custom Cash Rewards Credit Card

5. Capital One SavorOne Cash Rewards Credit Card

Do-it-all couples can earn 3% back on dining, groceries, entertainment and streaming services and 5% on travel booked through Capital One. This covers all the basics of what couples do together, so you can earn money back on almost anything.

Plus points

  • No annual fees
  • Returns 1% on all other purchases
  • Can redeem rewards directly on PayPal and Amazon

Cons

  • Requires excellent credit
  • Travel Rewards are only available through Capital One Travel

Learn More in this article: Capital One SavorOne Cash Rewards Credit Card

6. Capital One Venture X Rewards Credit Card

Couples who love to travel can take advantage of the Capital One Venture You also get 10x miles on hotels and rental cars and 5x on flights booked through Capital One.

Plus points

  • High reward percentage
  • Includes lounge membership
  • Can earn miles on trips not booked by Capital One Travel

Cons

  • High annual fee
  • Requires excellent credit

Check it out: Capital One Venture X Rewards Credit Card

7. The Platinum Card® from American Express

Serious jet-setting couples should look for ways to save the most on airfare, and the Platinum Card® from American Express fits the bill. Couples can earn 5x points on flights booked directly with airlines or American Express Travel and 5x points on hotels booked on AmexTravel.com.

Plus points

  • Premium status with the major car rental companies
  • Offers reimbursement credits for Global Entry and TSA PreCheck®
  • Access to the American Express Global Lounge Collection®

Cons

  • Extremely high annual fee
  • Only pays bonuses for travel (minimum 1x points for everything else)

Check it out: The Platinum Card® from American Express

8. Chase Sapphire Preferred® Card

If you and your partner travel often, don’t forget the benefits of the Chase Sapphire Preferred® Card with the upgraded points for travel booked through Chase Ultimate Rewards, plus base rewards for regular travel (2x points).

Plus points

  • Can transfer points to partner airlines
  • Includes Lyft, DoorDash and Instacart bonuses
  • Pays cashback on almost all purchases, including travel, dining, grocery shopping and streaming

Cons

  • Requires a lot of credit
  • For the highest rewards, trips must be booked through Chase

Check it out: Chase Sapphire Preferred® Card

9. Citi Premier® Card

For couples who want a simple card that doesn’t require thinking, changing categories, or worrying about using the wrong card, the Citi Premier® card is a great option. With 3x the points you earn on dining, groceries, gas and travel, this is a no-brainer.

Plus points

  • Points do not expire
  • No foreign transaction fees
  • A big introductory bonus if you spend $4,000 in the first three months

Cons

  • Required credit credit
  • All other purchases only earn 1x points

Check it out: Citi Premier® Card

10. US Bank Shopper Cash Rewards™ Visa Signature® Card

Couples with extensive shopping habits can earn 6% back on purchases of up to $1,500 per quarter at their two most frequented stores. You can also choose another bonus category to earn 3% back on gas, EV, bills, wholesale clubs and even bills.

Plus points

  • Offers a $250 bonus for just $2,000 spent in 120 days
  • Earn extra cashback in the Rewards Center Shopping Deals
  • Earn an additional 5.5% cash back on prepaid hotel and car reservations booked at the Rewards Center

Cons

  • Cashback has a low spending limit
  • The reward structure can become complicated

Check it out: US Bank Shopper Cash Rewards™ Visa Signature® Card

11. Wells Fargo Active Cash® Card

Sometimes couples just need a card that doesn’t require calculations or a strategic category choice, and that’s exactly what the Wells Fargo Active Cash® Card provides. You can earn unlimited 2% cashback on all purchases.

Plus points

  • No annual fees
  • Provides protection for your mobile phone when you pay your bill with your card
  • Extends 0% introductory offer for 15 months on purchases and balance transfers

Cons

  • There is a 3% foreign transaction fee
  • 2% may be low for high-spending categories such as travel

Check it out: Wells Fargo Active Cash® Card

How to Choose the Best Credit Card for Couples?

Having so many different credit card options can be great, but it can also be overwhelming. What is the best credit card for us? Which card yields the most?

That’s why it’s essential to consider your spending habits and goals before choosing a credit card. Things to consider include:

Buying behavior

What do you spend the most on?

If you’re constantly filling up your car, aim for a card that gives you cash back at gas stations. If you’re constantly stocking your pantry, choose a card that will get you back to grocery shopping!

Financial objectives (short and long term)

Consider which credit card best suits your financial goals – whether it’s getting a mortgage or making a luxury purchase.

Cost

Consider annual fees, interest payments, and other costs to see if you’re getting a good deal (and if it’s worth it!).

Please note that there is often an annual fee if you plan to add an authorized user.

What do you want to be rewarded for?

Are you a foodie? Choose a card that offers dining rewards!

Do you like to travel? A card that earns points miles and/or other travel rewards may be most ideal for you.

Should Couples Share Credit Cards?

As with many things in life, there is no one-size-fits-all answer to this question. The only thing to keep in mind is that it depends on you and your partner.

As a married couple, getting a credit card together can make sense for several reasons. There are many benefits to sharing one credit card: earning rewards faster, combining expenses, and potentially building credit.

By managing a card together, you also experience how to effectively manage your finances together. This can be useful if you want to buy a house or invest together in the future.

On the other hand, if you’re a couple who doesn’t like to combine love and finances, or you’re not too concerned about money, then sharing a credit card may not be the best option.

One positive thing to consider if you don’t share a credit card is that you can both earn separately sign-up bonuses and everyone can choose the most desired rewards.

Authorized User vs. Joint account

So an authorized user or a joint account: what’s the best option? What do they actually mean?

Authorized user

An authorized user is when one person is the primary cardholder and the partner is added as a person who can also use the card. Only the primary cardholder is legally responsible for paying the bill, but both may charge the card.

Sharing a credit card as an authorized user is perfect if a partner has a lower credit card score and wants to build their credit.

However, remember that any fees your partner charges will affect your credit utilization and score, so keep an eye on spending.

Joint account

Most banks and major credit card providers no longer offer a joint credit card option. Currently, American bank is the only major bank that offers the option to add a co-owner to an existing account.

If you open a card on a joint account, you and your partner are both legally responsible for paying the bill and managing the card.

This option can help simplify finances and build credit together. However, before you choose this option, come up with a solid plan so that you don’t overspend or ruin each other’s credit.

Pros and cons

Plus points

  • You can combine expenses with just one card. It’s easy, safe and can save you a lot of time
  • Can help the spouse with lower credit get started and build their score, and you can build credit together with your spouse
  • Easily collect all the rewards, points, cashback and airline miles that credit cards offer
  • Transparency in your finances can increase trust in the relationship
  • Save on annual credit card fees: pay just one instead of two!

Cons

  • Risk of overspending and accumulating debt: Do you completely trust the way your partner handles his money?
  • If your partner misses payments, it can have a negative effect on your credit

Frequently Asked Questions – FAQs

Can my spouse use my credit card without me present?

The answer is yes, regardless of whether your spouse is an authorized user or if you have a joint account.

Having a credit card with your partner means they can use it whenever they want, whether you are there or not.

Will adding my spouse as an authorized user hurt my credit score?

No, adding your partner as an authorized user will not affect your credit score. However, any fees they charge to the card will impact your credit utilization, so keep an eye on that!

Is sharing a credit card a good idea?

Choosing a credit card that offers the right benefits for you can be a daunting task. However, with these tips you can find financial harmony and enjoy the universe of credit cards!

Keep in mind that sharing a credit card with your partner is a big commitment, so it’s not a decision that can be made in haste. Sharing a credit card can bring you and your partner closer together if all goes well, but it can also cause unnecessary conflict.

Always remember that the key to successfully sharing a credit card is open communication, honesty and responsible financial management.

So whether you choose to share or not, always consider the benefits and consequences!

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