Chase Doing Away with Joint Credit Cards for Spouses

CNN Money this week reported thatChase is not going to allow customers to open joint credit cards, in an effort to simplify its offerings.

Joint credit cards have been a popular option for couples for a very long time.

The good news is that existing customers who already have joint accounts won’t be impacted.

Now, customers would have to add their spouse, partner or other individual as an authorized user to their account.

According to the article, eliminating this option also could be a move to avoid extra scrutiny from regulators, according to Nessa Feddis, a senior vice president at American Bankers Association.