What's a Good Credit Score Without Credit in Your Own Name?

If you're married, separated or divorced and most of your credit accounts during your marriage were in your spouse's name, it's time to build your own credit profile. This is doubly important if you're married and your spouse has negative information, or if you're now divorced/separated and suddenly find yourself without a credit history.

First, you need to know the rules. Credit bureaus must include your spouse's information on your credit report only in two instances: if you have a joint account, or if you are responsible for paying for an account in your spouse's name even if you are not the primary signer.

If you're applying for a loan or a credit card, ask the creditors to consider your spouse's favorable history when they review your credit report. For instance, if you and your spouse made payments using joint account checks, you can call the creditor's attention about this if it doesn't appear on your credit report.

If you have a credit card, use it – but use it wisely. Make sure you pay in full each month; this will help you achieve a good credit score in no time.

If you don't have a credit card, apply for one. You can start with a department store card, charge items on it, and pay it off on time every month. After a while, other companies will begin offering you cards, and you can apply for a bigger card such as a Visa, Mastercard, or Discover card. It's all right if the credit limit is low; your objective is to build a positive history by making timely payments.

Open a savings or checking account with a bank. This will help to show stability and an effort to build up savings, and in case you're unable to pay your bill the creditor knows it has a source for collection.

Work with a local merchant to purchase an item on credit or a layaway plan. You'll probably have to put down a deposit and may also have to pay a higher interest rate, but this will add to your credit history. Although layaway plans aren't usually reported to credit bureaus, if you show a pattern of prompt payments the merchant might issue you a store card.

If you've got enough money saved up in your bank account, you can apply for a bank loan with the account as security. If the bank does grant you one, make sure the bank reports the payments to the credit bureaus, as this is the whole point of your taking the loan.

Stay away from credit repair clinics. You don't want the unnecessary expense, and repairing your credit is something better done by you than by anybody else.

It's not impossible to repair your credit and work towards what is considered a good credit score. The key is determination and discipline. Our plan may take a couple of years, but it's a surefire way to build credit if you're careful about managing your money.

You'll find more useful advice about managing your credit and getting your credit report and score free of charge at our website, as well as more answers to the question "What is a good credit score?" Check it out and start rebuilding your credit today.

What is a good credit score
Learn about what lenders consider to be a good credit score