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Keeping Your Good Credit if Your New Spouse Has Gone Bankrupt

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Getting married soon? You probably didn’t have many serious discussions about your credit record and your credit history when you were falling in love. But once you start planning your wedding, it’s essential that you learn everything you can about your partner’s attitudes towards money, spending habits and current financial situation. That’s especially true in cases where your partner has filed previously for bankruptcy. If you’ve worked hard to build an excellent credit history, it’s important to know how your spouse’s credit history could impact your own credit score. The impact of your spouse’s bankruptcy will depend on a number of factors...

Building Credit Health with Your Spouse

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There are no hard and fast rules for how married couples handle their money. Some like to put everything into a joint account and pay all the bills from there. Others prefer to keep their money separate, with each paying a share of the regular monthly expenses. When it comes to credit, however, each partner in the marriage should understand that the way that they handle their credit can have a very big impact on their spouse. While there is no joint credit score for married people, a woman who has a good credit score may end up paying a higher rate for a mortgage or a vehicle loan if her spouse with a much lower credit score is listed on the application. A woman with a poor credit record...

How Credit Cards Can Improve Your Credit Score

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A good credit score is a valuable asset when it comes to your financial life. It can help you get a lower interest rate on all kinds of loans and credit cards, and may even assist you in getting a better job. (Many employers check credit scores these days before making a hiring decision.) If you have a bad or fair credit score, or even just a good score instead of an excellent one, there are ways that you can add some points to your current number. You first need to understand how your credit score is calculated. According to FICO (the company that developed the scoring mechanism used by most major financial institutions), your credit score is based...

Looking for a Job? How Your Credit History Makes an Impact

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When you apply for a job with a new employer or put in for a promotion within your own company you expect that the employer will take a close look at your skills, your past work history and the way that you present yourself during an interview. But did you know that the company may be examining your personal finances as well? Employers and potential employers can check your credit record to determine whether you regularly make the payments that you’re supposed to and to see how deeply in debt you are. So maintaining a good credit record impacts more than your credit cards and credit score—your future earning power is at stake.

Account Diversity to Build Your Credit

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Your credit score is based on a number of different things. Paying your bills on time, having an established credit history, and making sure your credit cards aren't maxed out are all important ways to keep your credit score high. But the types of credit you have also play a part in your overall score.

 

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