Chase (JPM) is following the lead of several banks and getting rid of its joint credit card program that allowed couples to have equal responsibility for payments.
CNN reports that a spokesman for the bank said that they are eliminating this option in order to “simplify” what it offers its customers. Those who currently have joint accounts will not be affected by this change, but those looking to open one will have to settle for a different option.
Chase expects that its customers will now open credit cards with a primary cardholder and add others to that account. This option is popular for families as one parent usually opens it and adds their spouse and children. In this case, the only person responsible for paying the payments is the primary cardholder.