With how expensive divorce is, you don’t want to add more costs than you need to. That means you should be careful with your credit cards during divorce. While they can be useful, you also need to make sure they don’t hurt your finances in the process…

Credit Cards During Divorce

Watch your accounts

Before using any credit cards during divorce, you should first make sure the accounts are secure. Many couples like to open up joint accounts, or joint cards. While that might’ve been fine before, it could now be an issue. After all, you don’t want to be accountable for debt that isn’t yours.

If you have a joint account, then you can try to see if you can make it into a sole account. Still, it may just be safer to have the account closed, and then open up a new one. You don’t want a vindictive ex trying to access a joint account and try to hurt you financially.

Use them sparingly

Another good idea is the use credit cards during divorce in a sparring manner. It can be tempting to use them due to the more-flexible payment schedule. However, you might be setting yourself for a big debt issue. Instead, try to limit when you use them.

A good idea is to use them for things you’d have to buy anyways. For example, that may include things like gas or groceries. That way, not only do you keep your payments low, but you can also work on boosting your credit score at the same time.

Make payments on time

Be sure you make your payments on time when using credit cards during divorce. Late payments will mean late fees, and an increase on your interest rate. Eventually, if you fall behind on a lot of payments, your credit score is going to take a serious hit.

It might be helpful to set up automated payments for your credit card bills. Many banks will let you set it up so your payments can be made every month on time. That way, you’ll have one less thing to worry about.