Ownership of credit card points in a divorce
We love buying things. Swiping credit cards for purchases is essentially a daily activity for many of us. But it’s not just the convenience of a credit card that we love, is it? Rewards points is what you’re probably really after. We don’t speak for everybody, however.
Some credit card companies reward as much as 10x miles per purchase. Let’s say you racked up tens of thousands of points, or even just a fraction of that, with your spouse whom you’re now getting a divorce with. The question is: who gets to keep the credit card points in a divorce?
Keep reading further for that answer.
While credit card points aren’t tangible, they’re certainly assets. It’s easy to forget we have the points, or to give them away and think of them as a loss worth having. However, these points can leave a significant impact in any case of assets.
Sara Rathner of Nerd Wallet discusses how the ownership of the points can go a couple of different ways. If you opened the credit card in your name before you got married and can prove that you earned all of the rewards points during that time period prior to the marriage, they most likely will be your own asset. Otherwise, the rewards points will be split between you and your spouse, even if no joint account existed. One way to help your case is presenting a prenuptial agreement that may have specified certain finances pertaining to this.
We feel that there is so much to discuss, when it comes to credit card point allocation for a divorce situation. Many factors are at play here.
If you need some help with your divorce case and credit card points allocation, please reach out to us. At Southern Oaks, it’s all about you, the client. Family Law Attorney Taylor Fontenot understands the need to listen and empathize, while providing practical legal advice and high quality representation.
Not sure if you can afford a lawyer? Taylor’s lean business model helps make his legal services more affordable and accessible. Call today for more information.