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Started By
Message
Just checked the mail and wife opened up a credit acct
Posted on 9/29/14 at 4:57 pm
Posted on 9/29/14 at 4:57 pm
Got home and checked the mail. While my wife was away visiting family she opened up a credit card account through gap and old navy. She failed to mention any of this to me.
We are fairly young in our twenties but I am very particular about lines of credit being open and our finances. Does this card being open hurt us in any way? I am not sure she understands that signing up for a card with a 25% interest rate is not a good idea. Can you all tell me any other things I may be missing as to having this open? I'd like to just cancel it but don't want it to reflect negatively on our credit.
We are fairly young in our twenties but I am very particular about lines of credit being open and our finances. Does this card being open hurt us in any way? I am not sure she understands that signing up for a card with a 25% interest rate is not a good idea. Can you all tell me any other things I may be missing as to having this open? I'd like to just cancel it but don't want it to reflect negatively on our credit.
9
Posted on 9/29/14 at 5:01 pm to FrancisCostello
Aren't gap and old navy the same company? Did she get one card or two?
Probably gave her some sort of discount for applying. You know if she used it?
Having a store card isn't bad, it's a good idea to build up credit. You can't be afraid of this stuff. I would just ask her if she got a discount or something. Pay it off each month in full whenever there is a balance, and this will help, not hurt, your credit.
Probably gave her some sort of discount for applying. You know if she used it?
Having a store card isn't bad, it's a good idea to build up credit. You can't be afraid of this stuff. I would just ask her if she got a discount or something. Pay it off each month in full whenever there is a balance, and this will help, not hurt, your credit.
Posted on 9/29/14 at 5:06 pm to LSUFanHouston
The bigger underlying issue is that OP's wife did this without telling him about it. That is what is troubling.
OP- I'd keep her in check if I were you.
OP- I'd keep her in check if I were you.
Posted on 9/29/14 at 5:19 pm to I Love Bama
Girlfriend teiee to open a CC for a purse. Ya it would have saved some 150$+ but a consumer credit card is 
Luckily I talked sense into her
Luckily I talked sense into her
Posted on 9/29/14 at 5:20 pm to LSUFanHouston
she saved 20% off when opening it. tell her to pay it off each month and theres nothing to worry about
Posted on 9/29/14 at 5:33 pm to FrancisCostello
Time for you to find a switch
Posted on 9/29/14 at 6:02 pm to CE Tiger
quote:
she saved 20% off when opening it. tell her to pay it off each month and theres nothing to worry about
This... Who cares what the interest rate is. You should never carry a balance so why does it matter?
Posted on 9/29/14 at 6:04 pm to I Love Bama
I would think the wife would have said something at some point. Of course, many young couples these days are keeping finances completely seperate from each other.
Posted on 9/29/14 at 6:21 pm to LSUFanHouston
Separate or the same, she shouldn't have to get your approval on every little thing like a store credit card
I carefully monitor my family's finances but if my wife went and got a macys card or something, I really wouldn't care
I carefully monitor my family's finances but if my wife went and got a macys card or something, I really wouldn't care
Posted on 9/29/14 at 6:29 pm to I Love Bama
quote:
OP- I'd keep her in check if I were you
Well, that doesn't seem like a sexist statement at all.
Posted on 9/29/14 at 7:12 pm to I Love Bama
Damn I wouldn't care if my wife got a store card
She probably does but I trust her to make good decisions with it.
She probably does but I trust her to make good decisions with it.
Posted on 9/29/14 at 7:19 pm to Croacka
If she is not finance savvy, she may not have realized it was a CREDIT card. It may have just been a store card to her. Have had friends wives do the same thing and they(the women) had no idea.
Posted on 9/29/14 at 7:23 pm to Croacka
quote:
Separate or the same, she shouldn't have to get your approval on every little thing like a store credit card
I carefully monitor my family's finances but if my wife went and got a macys card or something, I really wouldn't care
I agree
Posted on 9/29/14 at 7:29 pm to FrancisCostello
First, take her to an elevator.....
What?! Too soon?
What?! Too soon?
Posted on 9/29/14 at 8:27 pm to FrancisCostello
Well... your average card age will take a hit
Posted on 9/29/14 at 8:48 pm to FrancisCostello
quote:
She failed to mention any of this to me.
Not surprising, she's probably afraid to if you're this concerned.
quote:
Does this card being open hurt us in any way?
Not at all, in fact if you pay the bill every month it can actually help.
quote:
I am not sure she understands that signing up for a card with a 25% interest rate is not a good idea.
There's nothing wrong with it at all, provided you pay the balance in full each month. You do not pay interest on the first month.
quote:
Can you all tell me any other things I may be missing as to having this open?
Lighten up, it may help your wife feel more comfortable discussing such things with you.
There's nothing wrong with having an open line that is paid off in full every month, in fact that can help you. Hell, if the rate is low enough (like the rate of inflation or lower) you can even carry a balance for awhile.
Posted on 9/29/14 at 9:34 pm to FrancisCostello
Perhaps I worded this poorly. She wasn't scared or felt the need to hide it from me. She simply didn't realize what she did. We talked about it a moment ago. She thought it was just some kind of store card that worked more or less like debit or points/rewards if she used it with purchases.
She is mostly great with money. My hesitancy with the Interest rate came because I am the one the pays all of our bills and remembers the different deadlines and due dates every month. If for some reason she purchased some items without my knowledge and they sat on that card collecting 25% interest then there would be an issue.
I appreciate everyone's help. Thanks for talking with me.
She is mostly great with money. My hesitancy with the Interest rate came because I am the one the pays all of our bills and remembers the different deadlines and due dates every month. If for some reason she purchased some items without my knowledge and they sat on that card collecting 25% interest then there would be an issue.
I appreciate everyone's help. Thanks for talking with me.
Posted on 9/29/14 at 9:40 pm to FrancisCostello
The bigger issue is that a grown woman signed a credit agreement without understanding what it was. Is English her first language? If so, she should be reading and comprehending things she signs, don't you think? Or perhaps her ignorance is feigned cause it's a way out of a conflict with you.....
Posted on 9/29/14 at 9:40 pm to FrancisCostello
You should still punish her.
And that was sarcasm. I guess some people need it spelled out for them.
And that was sarcasm. I guess some people need it spelled out for them.
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