| |
Remarriage and Credit
By Daniel Cohen
A divorcee who remarries has to call up the customer service division of the credit company and inform them about the change in the personal details. If a woman remarries and changes her name on the account, lenders have the right to review her account or credit file for her creditworthiness. A remarried person can either open a solitary account or be a joint account holder to the spouse.
After going through the tension of a divorce and the way your financial assets are split, you can consider having credit in your name. It is also convenient to have your own credit history, so that your credit history does not get ruined because of your partner's wrongdoings or in disciplinary usage of the card. If you are a solitary card holder by yourself, you can have the credit when you need it, even in dire times.
It is your call if you want to want to share the credit history with your spouse. If not, then you should give it in writing to the credit card company that there should be two separate credit reports for the two of you. If you share your account with your spouse who uses his or her card wisely, then you can just build on your credit history quite easily. You just have to ask the credit reporting bureau to hand you over a copy of your report. Also make it a point to contact the card issuing companies to report the account 'as joint' with your spouse.
After your remarriage, if you decide to be jointly liable for your credit card, make it known to your spouse that he or she has to use the credit card wisely and with care. You should take care that both of you do not go overboard with credit card spending and do not incur any kind of late fees. Do not club the credit card details which you jointly held with your ex-partner, with the new partner's credit card. Keep the former credit card separate and pay off your share.
In case you do not have a credit history, you can always get a secured credit card. These look like conventional cards but they require a saving or money market deposit of more than a few hundred dollars which act as an insurance for the lender in case you default. There is a ceiling on your credit limit beyond which you cannot exceed. It is a great tool to build a good credit standing if you are prompt with your payments.
About the Author
Daniel Cohen recommends Find Credit Cards for finding a Discover reward credit card. See http://www.findcreditcards.org/issuer/discover.php for more information.
Article Source: http://www.simplysearch4it.com/article/24624.html
| If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/24624.html" as shown above and make it hyperlinked. |
| Some other articles by Daniel Cohen | How Private Is Your Credit Card Information?
How will you react if you get a call one fine day from the collection agency stating that you are liable for charges on your account that have not been made ...
Finding the Best Student Credit Cards
Being well versed in the art of personal finance and managing personal expenses is one of the first things every college going student must know. The moment your child ...
Finding the best cash back credit cards
Cash back are a good inducement for customers to make a regular use of their credit cards. Most customers are voluntarily asking for credit cards with the 'cash back' feature in them. It ...
Finding the Best Airline Credit Cards
The airline credit card came into existence when credit card companies realized the profitability of teaming up with airline companies to provide better incentives and opportunities for consumers to encourage spending. Luckily for the credit ...
What Is a Credit Union?
A credit union is a non-profit financial organization that is owned and regulated by its members through a representative electoral board of directors nominated from the membership itself. A member of a credit union can deposit ...
Credit Cards and Your Child
Conventional thinking leads us to understand that school and college going children do not have any special usage of the credit card, other ...
|
|
| |
|
|
|
