Can a credit card be transferred after the death of the primary holder?

Question

For many years I have been caregiver to my elderly parents. We have one credit card, for which my father is the primary card holder, and my mother and I are authorized users. However, I am the only one who uses the card, and the bill is paid in full every month, with no outstanding balance. I use the card for everything, groceries, paying bills, ordering prescriptions, etc. Now, my father is seriously ill and may not live much longer. What happens if God forbid he dies? Can the credit card account be transferred to my mother's or my name?

Answer 1

No, since you both are only authorized users, the credit card company will not allow the card to be placed in either of your names if your father passes.

You would be required to apply for a brand new card if you want a card with that company.

The only way to continue using the card is if your father is able, he should contact the creditor and request that you or your mother be placed on the account as a joint user.

If he does that then the card will transfer to the person who is listed as the joint user.

Whoever is placed on the account as a joint user will be responsible for "all" charges made on the account.

I'm sorry that your father is so ill and I hope that his condition improves.

Answer 2

As long as you have some income to pay the bill they will transfer it.  Get the bank to add you as an authorized siger on the card you currently use so the on time payments will get reported on both your credit report as well as your father's (since the card is currently in your fathers name he will need to be the one to make this request to the  bank). This will help you improve your credit profile which in turn, will make you look like a better credit risk down the road if you need to apply for the card in your own name.  Good luck.