Joint credit is when two or more parties accept joint responsibility for repaying any debt or other financial issues. Joint credit by two or more people is based on their collective incomes, assets, and lastly their credit histories.
People who file for joint credit are usually married couples or people who are closely related. Using this type of credit can tricky down the line if marriages result in divorce or if closely related people have a falling out.
It can get complicated because the partners will have to split the debts in half between them and they often do not end up settling everything easily. If one partner does not pay their share of the bills it can still affect the other persons credit.
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