Issues Online
Feb  Mar  Apr  May
Search Tips

Narrow your search results by using '&' or 'AND' between keywords

Use quotes to search for phrases such headlines eg. "this is the headline"

Also try a Google search of our site

Restreignez et centralisez votre recherche en utilisant “&” ou “ET” entre les mots”

Utilisez les guillemets pour rechercher des expressions et titres précis, par exemple. "c'est le titre"

Utilisez aussi l’outil de recherche Google pour notre site.


A joint credit card is a joint responsibility

(NC) Do you know that if you apply for a joint credit card with another person you are responsible for the transactions and debts connected to that account? Before signing anything, make sure you know your rights and responsibilities as a joint borrower, as follows:.

Who is liable?

When you co-sign a credit card, you are taking on a serious commitment. The credit card issuer considers you, as the joint borrower, responsible for both the debt and the payments that need to be made to pay it back. If a borrower does not pay back the debt, the bank or financial institution may require the other borrower whose name is on the credit agreement to pay back the full amount.

Note: The conditions on certain credit cards may state that authorized users (secondary cardholders) can be held responsible for any outstanding balances, even if they didn't sign the credit card application. Be sure to read the credit agreement carefully and get a clear understanding of who is responsible. In case of doubt, contact your credit card issuer.

What you are entitled to receive.

When a federally regulated financial institution agrees to issue you a credit card jointly with one or more other people, each borrower is entitled to receive the information documents. All joint borrowers must receive copies of the credit agreement and the monthly statements unless they consent either verbally or in writing (on paper or electronically) to waive this right.

To find out more about your rights and responsibilities as a joint borrower, visit the Financial Consumer Agency of Canada website at

Word count: 264

Terms of Use

Articles are provided free of charge. Articles appearing on web sites, must credit Articles appearing in Print, must credit News Canada with (NC) at beginning of an article or – News Canada at the end. Any source/sponsor of the information quoted in the text must also be identified as presented. Images are only to be used with corresponding editorial copy. Usage of News Canada articles constitutes your acceptance of these terms and an agreement between you and News Canada.

Image Instructions - Note: Illegal to use without News Canada editorial.

To open/download image(s) used in this article, please click the following links:

Click here for image file: «80174H.jpg»