Ways To Maintain Your Own Credit Record in Your Marriage

If you are employed and taking care of your own credit payments with your income, maintaining your own separate credit record is relatively simple.

If you rely solely on your spouse's income you can still maintain or establish your own credit record if you can identify your own separate credit record prior to your marriage. This won't guarantee your credit but your handling your accounts efficiently should prove to credit grantors that you are a financially responsible person. Having your own credit record is advantageous should your marriage end.

If you want to be sure that your credit record is kept separate from your spouse's, notify the local credit bureau (see the yellow pages in your phone book) that you want all information concerning your accounts maintained in a separate file under your own name. Call the bureau to arrange an appointment to have the files separated.

Credit bureaus will need the co-operation of both spouses to identify individual account responsibility. Your file and your spouse's file will be cross-indexed and both will be considered when you pledge your joint credit as a family unit.

If you qualify, you can obtain credit in your own name and accept responsibility for all debts you contract. If you rely solely on your spouse's income, credit grantors will often ask that your spouse co-sign any credit forms, which makes your spouse responsible for the debt if you fail to pay.

Even if you have your own income and an established credit record, your spouse's signature may be required for a major credit transaction such as purchase of a home or automobile. If you are applying for more credit than you yourself can afford, most credit grantors will request information about your spouse, including income. You should not have to give information about your spouse if your spouse would not have to give information about you in a similar situation.