Girl Ninja and I have quite the predicament on our hands. When we got married we decided we would combine our financial lives. So far it’s been a relatively smooth process. That is, until recently.
Prior to getting hitched, Girl Ninja and I both had separate Alaska Airlines Credit Cards. The card has some pretty awesome benefits including; guest passes to Alaska VIP room, $99 companion ticket, one mile for every dollar spent, and triple miles for airline purchases. When you use your credit card as much as we do (remember $4,000 charged to it this month), we can rack up some pretty serious miles. These perks don’t come free though. The annual fee for the card is $75. Ouch.
Alright so here’s the problem. When Girl Ninja and I combined our finances, we didn’t really (and still don’t) know how to combine our credit. Neither of us want to give up all of that glorious credit history on our cards (six years for her and four years for me). I talked with Bank of America to see if we could somehow just transfer our credit cards to a new joint credit account, but was told that wasn’t possible. Am I the only person that thinks it’s stupid BoA wont just transfer one account history to a new account? I mean, it’s not like we are switching banks or anything!? I digress.
I was able to add GN as an authorized user to my CC account, so we are currently just using the card that’s in my name, while her card sits in a drawer in our office. That’s pretty stupid when you think about it though. We are essentially paying $75/yr to keep her credit history.
And thus the dilemma. Is $75/yr worth five years of credit history? Should we close the account and just leave her as an authorized user on mine. Should I close mine and go as an authorized user on hers? Should we close both of ours and find a rewards card with no annual fee? If we had just one card (meaning one $75/yr fee), we totally spend enough to justify paying the fee. But we definitely don’t receive double benefits for keeping two separate accounts.
Do you have a rewards card that has an annual fee? How do you justify paying it? Would you keep paying $75/yr on her dormant card just to keep her credit history?
p.s. Did you notice I added a Facebook “like” button at the end of each of my posts. You better start “liking” my stuff! If you don’t I’ll be forced to punch a baby walrus in the face!
**UPDATE** Faithful reader, SS4BC offered up a great solution to my predicament in the comments. You can see it by clicking here, or scrolling down and reading ‘em.