How to Deal With Your Wife's Bad Credit Report

You love the woman you married, but you hate your wife's bad credit report. You may even be worried that her poor credit will bring down your credit rating and make it tough for both of you to qualify for a loan when you really need it. Fortunately you have options, for repairing her credit and protecting yours, that don't include a costly divorce or living without credit. Begin today and see positive results over time.

Instructions

Repair

1

Review your spouse's credit report for errors and correctable negative items. For example, small written-off debts can be quickly paid off.

2

Avoid closing inactive but open accounts. Closing credit lines can actually reduce your credit rating.

3

Analyze current debts and income. Create a budget that allows you to both pay off debts quickly and to save for the future.

4

Add your wife onto one of your credit cards as an authorized user. While you're responsible for paying for the account, she will benefit from your consistent and timely payments.

Protection

5

Protect your credit rating by not opening any joint accounts with your wife until her credit improves.

6

Ensure your bills are paid every month and on time.

7

Consider applying for large loans, such as a mortgage or a car loan, as a single borrower. Including your wife on the note may increase the interest rate you pay, at best. At worst, adding her to the credit application may disqualify you from receiving the loan.