When you open a joint account with a partner or spouse you are linking your finances together, so it is a good idea to think through the options before taking this step. It can be very convenient if you are sharing the cost of rent or mortgage, as the money from your joint account can be used to pay for your household costs.  When you open a joint account with someone, you create a financial link. If you both have a good credit score, this can improve your chances of being approved for a mortgage. However, if one of you has a poor credit history, this could affect the score.  A joint account gives your partner access to all your money, so your relationship should be on secure footing. Should one partner choose to withdraw or spend a large amount of money you have no legal ground to get it back if it's a joint account.