In a previous paper on coupled gravitational and electromagnetic perturbations of Reissner-Nordstrom spacetime in a polarized setting, we derived a system of wave equations for two independent quantities, one related to the Weyl curvature and one related to the Ricci curvature of the perturbed spacetime. We analyze here the system of coupled wave equations, deriving combined energy-Morawetz and $r^p$-estimates for the system, in the case of small charge.