Joint Accounts Are on the Decline for Couples
Quick Answer
The average number of joint accounts per couple has slowly declined over the past decade, from an average of 1.47 credit accounts per couple in 2014 to 1.20 credit accounts in 2023.

Despite the rise of living alone in the 21st century, most households in the United States are still led by a married couple, according to recent U.S. Census Bureau data. But household finances are anything but homogenous in 2023, as more couples are keeping most, if not all, of their finances separate. In many cases, that includes their debts as well.
Number of Joint Credit Accounts per Couple Is on the Decline
Joint credit accounts are still commonplace, according to Experian data, but they aren't as prevalent as they were in previous years.
Technically, any two or more people can be part of a joint account, but many of those who share one or more joint debt accounts are in a relationship. For example, couples represent the vast majority of borrowers for mortgages, the type of debt that comprises the largest chunk of consumer debt balances by far. According to National Association of Realtors data, married and unmarried couples account for a combined 71% of mortgage borrowers.
In this analysis, "couple" refers to any pair of people who share a joint account. Experian data shows the average number of joint accounts has slowly declined over the past near-decade, from an average of 1.47 credit accounts per couple in 2014 to 1.2 credit accounts per couple in the second quarter (Q2) 2023. Meanwhile, the average number of accounts for individuals over the same period increased, from 4.97 accounts to 5.35 accounts.
Average Number of Open Individual and Joint Accounts, 2014-2023
Younger generations have fewer joint accounts than most of their elders in 2023, according to Experian data. The generation most reliant on joint accounts are baby boomers, who have 1.36 joint accounts per couple—well above the 1.20 average for all couples. Each successively younger generation has a fewer average number of joint accounts, with the average for Generation Z being less than 1.
Average Number of Joint Credit Accounts per Couple | Average Number of Individual Credit Accounts per Person | |
---|---|---|
Generation Z (18-26) | 0.91 | 3.36 |
Millennials (27-42) | 1.01 | 5.80 |
Generation X (43-58) | 1.31 | 6.46 |
Baby boomers (59-77) | 1.36 | 5.82 |
Silent Generation (78+) | 1.03 | 3.85 |
Source: Experian data as of Q2 2023; ages as of 2023
Also of interest are the differences in averages between baby boomers and Generation X. Although baby boomers have a somewhat higher average number of shared credit accounts, Gen Xers have more individual accounts but share fewer of them.
Mortgages Make Up the Lion's Share of Joint Account Types
As it turns out, a couple's preference for joint accounts may have less to do with differences in age or generational attitudes toward finances than having a mortgage.
Average Number of Joint Accounts by Generation
What's so special about mortgages that couples often apply jointly?
Many couples rely on both partners' credit history and income to demonstrate to lenders that they're creditworthy and have the ability to make monthly mortgage payments. As both home prices and mortgage rates continue to increase, that's even more essential for most couples. Two incomes, if applicable, can make the difference in keeping a couple's debt-to-income ratio lower than it might otherwise be with a single applicant.
Of course, other factors, like credit scores of each applicant, also play a prominent role. Usually, lenders will consider and use the lower score between the two applicants in making a credit determination on a joint mortgage application.
Joint Credit Account Holders Have Higher Average Credit Scores
The credit scores of those with at least one joint account are relatively healthy. As of June 2023, the average FICO® Score