It’s official: The credit card party is over. Pundits have long proclaimed it from the rooftops. If we consumers had any doubt about the wisdom of their words, we need only open the next letter from our credit card company announcing yet another credit limit cut or rate increase to arrive at the very same truth: Indeed, the party is over.

Many people opt to share a credit card account, either by adding a second person as an authorized user or as a joint account holder on the credit card. In each case, the other person gets their own credit card to use, the only difference is that authorized users are not liable for outstanding credit card balances, whereas for joint account holders, both cardholders are held equally responsible for any outstanding credit card debt.

Most of us are all too painfully aware of credit card costs in the form of interest charges, late fees, and over-the-limit fees. However, did you know that you could be spending, by some estimates, an average of about $500 a year in ‘hidden’ credit card fees, which no one tells you about?