Page 10 - DecemberMag2024.12.11.24

ESTATE PLANNING

Atty. John J. Urban

Lessons in

the Law

Credit Cards-Who Owns the Card?

n several occasions, I got involved in discus- You can’t realize what I had to do to prove to the SSA
sions about credit cards and what happens that I was alive. I finally got that resolved and my credit
when one spouse dies. The question is can cards were reinstated. My wife could not use my cards
the surviving spouse still use the credit card because I was the primary owner and since she was an
O when one spouse dies? additional user, my cards in her name were also declined.
Are you the owner of the card or are you a Fortunately, my wife had her own credit cards in her
co-owner with your spouse? If you are a co-owner, then name and those cards were not affected by my “death.”
you can continue to use the credit card. If you are the only The point here is that each spouse should have credit
owner of the card, your spouse cannot use the credit card cards in their own name. Make applications and obtain
when the owner of the card dies. credit cards in your own name before the first spouse
The next question is how does the credit card company dies. After the first spouse dies, many surviving spouses
know you have died? Funeral homes are required to notify do not or cannot qualify for a credit card, or if they do qual-
the Social Security Administration (SSA) when someone dies. ify, the credit card limit may be very low.
The credit card companies routinely check with SSA to see Now is the time to review your credit cards and deter-
who has died and then they will cancel the credit card. mine who is the primary owner and each spouse should
A few years ago, the SSA declared me dead. I didn’t have a credit card or two in their own name. Remember,
know I was dead until I tried to use my credit card. All an authorized user of the card loses the right to use the
three cards I had with me were declined when I tried to credit card when the first spouse dies.
use them. When I called the credit card company to find Questions, comments or ideas about future articles con-
out why they were declined, I was told I was dead. tact me at jurban.gcu@GCUusa.com

GCU Home Office
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The GCU Home Office (800.722.4428) is open
Monday through Friday 8:30 am to 5 pm EST.
The Call Center (855.306.0607) accepts calls
Monday through Thursday from 8:30 am to 7 pm
EST and Fridays 8:30 am to 5 pm EST.
The Home Office will be closed December 24 &
25 in observance of Christmas and December
31 & January 1 in observance of New Year.

5400 Tuscarawas Road, Beaver, PA 15009

8 GCU MAGAZINE DECEMBER 2024