Your Credit Life
How to build credit
There are several ways to start building your credit. If you are trying to establish a credit history a good option is to obtain a secure credit card. You can also work to establish and build credit by having a co-signer on your first few credit accounts. Another option is to ask a family member to add you as a additional cardholder on one of their credit card accounts. This will start a credit reporting history for you to build off of over time.
Marriage and credit
When a couple marries there are many financial decisions that have to be discussed. You both may have savings, salaries, investments and maybe even real estate. If one of you has better credit than the other, it can affect you both.
When a couple marries there are many financial decisions that have to be discussed. You both may have savings, salaries, investments and maybe even real estate. If one of you has better credit than the other, it can affect you both.
If you choose to start securing credit together there are some important points to keep in mind. You will both be responsible for any joint accounts. If you miss a payment on those accounts it will affect you both negatively. If you miss payments on your individual accounts it may affect your ability to secure joint accounts, as both of your credit will be taken into consideration. If you do decide to have joint accounts, it is a good idea to have one individual account to help maintain a individual credit history in the event of divorce.
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