establish my own credit after 30 yrs of marriage
Good morning Terry my question is how to establish credit after being divorced after 32 years? Love you on WGN in the morning. Any suggestions would be greatly appreciated.
Terry Says
First of all, you need to know where you stand. I’d be very surprised if you had no credit at all! If your name was on a mortgage, or car loan, there is probably a credit report in your name. Go to www.AnnualCreditReport.com and choose a FREE report from one of the three major bureaus. You can get one free report from each bureau every year. But the information is probably about the same, so just select one and get your report.
Also go to CreditKarma.com and check on your credit SCORE. That is also free.
The, go to Bankrate.com and open an account for a SECURED credit card — a Visa or MasterCard that is funded with a deposit you make to a savings account offered by the bank that gives you the card. Your credit limit is the amount of money in the account. Then charge something every month, and PAY IF OFF IN FULLAND ON TIME! The issuing bank will report your good payment history to the three bureaus, in within months you will have a good and rising score!
Then you’ll start getting offers from other banks who want to offer you a regular card. Use it wisely. You’re on your way to a new life! Be open to the possibilities!
