Strengthening Credit After A Divorce

Credit Cards Stacked_2In addition to the emotional aspects of divorce, very often divorce negatively impacts one’s credit, which can make life even more stressful and challenging. Here are a few tips to build your credit worthiness after a divorce:

  • Pay your bills on time
  • Communicate with credit companies – explain that there has been a divorce
  • Close joint accounts – note this will bring your credit score down initially, but is critically important to establish your own credit separate from your former spouse.
  • Apply for only one new card in your name in order to start building up credit gradually
  • If you are unable to get approved for a credit card, apply for a secured credit card where you put a cash deposit down. (Make sure that the bank you use actually reports to all 3 credit bureaus.)
  • Learn how to handle money

Strengthening Credit After a Divorce

Divorce and Credit

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s