The Women’s Guide To The Ins And Outs Of Credit Reports

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					               The Women’s Guide To The Ins And Outs Of Credit Reports

It’s not uncommon these days for women to be exposed to the basics of financial management. But
whether you are a homemaker, keep a part-time job or a full-on career woman, it’s important to know and
understand what goes on when it comes to your credit history—specifically what you can do to establish
your finances and maintain good credit ratings independent from your husband’s. Not to say of course
that single women should not watch out for the same as these tidbits of information will surely become
handy should you decide to get married.

In most cases, women will face difficulties when they develop their own credit histories. They also usually
face credit-related issues that are detailed below:

    1. Without independent credit identity, women will have to take their husbands’ names and therefore
       credit history to manage money matters, like credit applications, loans etc.

    2. Insufficient or no knowledge about the credit and reporting process will lead to confusion and
       hassles.

    3. You may be considered as financial non-entity in the eyes of creditors and other related
       industries.

In today’s society, we witness women postponing marriage to establish sound careers; in addition to the
fact that women are statistically shown to outlive their husbands. For those who are uninformed about
credit scores and credit reports, agencies and other institutions have processes that will likely confuse
and make the entire process more complicated for women.

Understanding the process is as simple as getting involved in the management of your family’s finances
and in the process developing your credit identity. Having a good individual credit report provides you
several significant advantages both in and out of marriage.

    1. If your husband is encountering financial difficulty and becomes unable to pay his bills or is a poor
       money manager and fail to make account payments on time, then your good credit report will not
       be affected if you are financially independent from your husband. However, this would not be
       same with husband and wife’s shared the accounts.

    2. If you maintain your independent credit, you can enhance your family's financial options and
       opportunities. This will be highly important if your spouse faces financial trouble, loses
       employment or suffer serious health issues. A woman with her own credit can shelter her family
       with greater alternatives for managing with complex financial problems.

    3. Women having their own credit identities can easily make a positive life for themselves after
       separation, divorce or widowhood.

Joy is an active blogger who shares extremely interesting finance management tips over the web that
encourages people to manage their personal finances, check credit score regularly and improve credit
scores.

				
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Description: It’s not uncommon these days for women to be exposed to the basics of financial management. But whether you are a homemaker, keep a part-time job or a full-on career woman, it’s important to know and understand what goes on when it comes to your credit history—specifically what you can do to establish your finances.