Even though you and your spouse are heading for a divorce, you may not want to have a long court battle. If the two of you can work together to find common ground, you may be able to proceed with a collaborative divorce.
When you are in settlement negotiations, you and your soon-to-be ex-spouse must determine how to divide your marital estate. Just as it is possible to address your home, cars, retirement accounts and other physical assets, you may be able to come up with an acceptable agreement regarding your credit card rewards points.
Valuing your rewards points
Before you can divvy up your credit card rewards points, you need to know how much they are worth. Regrettably, because all rewards programs operate differently, there is no simple way to determine the value of your points. If you are looking for a ballpark estimate, though, your points are probably worth about one cent each.
Dividing your rewards points
In Pennsylvania, divorcing spouses usually receive an equitable share of their marital estates. To divide your rewards points equitably, you may have the following options:
- Give up other assets in exchange for the rewards points
- Split the rewards points evenly
- Split the perks the rewards points buy
- Keep the rewards points you have personally accrued
Your credit card rewards program probably has rules that apply to the transfer of rewards points. If so, these rules may limit your options. During your collaborative divorce, your attorney or a financial professional may help you identify which option is right for you.
Ultimately, regardless of what happens to your credit card rewards points, including all marital assets in your settlement negotiations boosts your chances of receiving your fair share.
