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Partners kept in dark over cards

Sydney Morning Herald – by John Collett

More than a million people across Australia are likely to keep some credit card purchases a secret, or even have a card that their partners do not know about.  Spending could be related to issues such as problem gambling that need to be out in the open, says Katherine Lane, principal solicitor at the Financial Rights Legal Centre.

Lane says that secret credit cards can increase the financial risk for the couple. She says it is a “relationship debt” issue rather than just a risk for the person with the secret credit card. If the couple jointly owns a house and the credit card debts gets out of hand, the provider of the credit could use the legal system to force the sale of the house, for example.

Lane says that in a perfect world there would be no secret credit cards. However, for women, in particular, she understands why they may want a line of credit to get out of a relationship or to deal with emergencies.

Read entire  article here: Partners kept in dark over cards