Here’s the Average Social Security Benefit at Ages 62, 65, and 70
Claiming age has the most sway of any factor when determining how much you'll receive each month and during your lifetime from Social Security.
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Batman and Robin, Han and Chewie, peanut butter and jelly — it’s nice to have a partner to team up with, isn’t it? You can often accomplish a lot more if you work in tandem with someone else toward the same goal. And if you have a partner in life, you can apply that same concept to earn double the credit card rewards you’d be able to earn alone.
Double the credit cards, double the fun
Many couples choose to combine their finances when they move in together or get married, whether that’s opening a joint savings account or a joint credit card. It’s a serious part of sharing your life with someone, and can be an important step in trusting the other person with your personal finances.
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Plenty of couples choose to keep their finances separate, though, and it doesn’t necessarily mean they’re any less trusting of each other. In fact, you might be able to connect even more on your financial goals as a couple by keeping separate credit card accounts. If you work together and make a plan to open new credit cards, you’ll be able to take advantage of twice the benefits you’d have access to on your own.
Welcome offers, times two
Lots of credit cards have excellent sign-up bonuses that let you earn a generous number of points or miles if you meet a spending minimum within the first few months of opening the card. By teaming up with your partner, you can apply for two different cards and earn twice the bonus.
It’s important to note that you should only do this if you’re comfortable with the spending threshold and you’ll be able to meet it with your regular spending. You don’t want to take on credit card debt just to earn a welcome offer, so make sure you can pay off your credit card bill each month rather than carry a balance forward.
But if you and your partner need furniture for your new apartment or are planning your upcoming wedding, it can be a great opportunity to sign up for new cards and earn a bunch of points. Think of it as a housewarming gift from the credit card companies.
Cover all your bases
You and your partner can also compare credit cards to determine which would be the best match for you collectively. By applying for cards with complementary, rather than overlapping, benefits, you’ll be able to earn points and use benefits across a much wider range.
Let’s say you two love to travel, but aren’t dedicated to a particular airline when you fly. You could each sign up for an airline credit card with a different airline, meaning you have twice as much chance of getting priority boarding and free checked bags when you search for affordable flights.
Another way to make this idea work for you is to sign up for cards that cover different categories of spending. You could sign up for a gas and grocery card that earns three times the rewards on those purchases, while your partner signs up for a dining credit card that gets you extra cash back when you go out to restaurants. No matter where you spend, you’ll know you’re earning the most points possible.
Double double, earn rewards with no trouble
Some people prefer to only have one credit card in their wallet, while others collect them like trading cards. Make sure you do whatever works best for you, and be aware of any annual fees on the credit cards you apply for. Doubling your cards as a couple means doubling the fees you’ll pay, so don’t take on more than you can comfortably afford.
But remember that there are plenty of great no annual fee cards to choose from, too. So if you have a partner in life to team up with, go ahead and take advantage of all the extra perks available to you.
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