any of life's major changes can impact your credit, but keeping these credit-savvy tips in mind can help you keep and build your credit, so it's always available when you need it.
		etting married brings many financial opportunities to couples who can combine their resources. As you plan your wedding day, plan for your future too and take these steps to keep your credit in tip-top shape.
				Notify creditors and credit bureaus if you change your name. When you change your name at marriage--or any other time--it's important that you make sure your creditors and the credit bureaus are notified of the change. Otherwise you might lose your credit history.
				Keep credit in your name. Women especially must take care to keep some credit in their own name. (e.g. "Jane Smith" rather than "Mrs. James Smith"). Every year women who have never paid a bill late are denied credit because they have no credit history in their own name.
		If either you or your spouse-to-be has had trouble getting credit alone, try setting up a joint account to capitalize on your shared income and/or one person's stronger history. As your joint account history grows, you should each acquire and maintain an account of your own as well, to establish your credit on an individual basis. As you establish individual accounts, you might close some extra joint accounts, keeping only those you actually use.
		he financial rewards of owning a home are extensive. When you own your home, the monthly payments become part of a savings plan. It does this when your home increases in value over time, you can use the equity for other major purchases or turn it into cash by selling it, and not have to worry about interest on the purchase. When it comes to how much you can afford, that's for the lender to decide. The lender will consider how much you have available for a down payment and then calculate your debt payments, income, and credit history. Buying a home--especially for the first time--makes significant demands on personal credit. It requires a solid credit rating, and once it takes place it can dramatically change some credit dynamics. On the other hand, homeowners build equity--an asset that contributes to their net worth--with each mortgage payment. They also establish another level of credit history and stability by making their mortgage payment on time. On the other hand, a mortgage is a large loan, and may impact things like your debt-to-income ratio in the first years of the loan. Make sure when applying for a large loan you check your 3-Agency Credit Report to assure yourself that it's free of any inaccuracies that might hinder your loan process.
		eginning a family is another life change that puts demands on your finances. As many soon-to-be parents find out, bills can quickly pile up as they prepare their homes and lifestyles to accommodate the newborn. Nevertheless, it's more important than ever to avoid overextending your credit when you start having children. That way you know your credit will be available when you need it--like 18 years from now when those tiny infants head off for college.
		f you're faced with divorce or separation, you encounter many new challenges. One is determining how to separate your finances, including your debt and credit relationships. Although even in good times many couples find it hard to talk about financial issues, it is essential that you communicate about credit during the divorce. Ask yourself these questions:
				Can we put our differences aside and talk about the financial issues of our separation?
				How can we make as clean a financial break as possible?
				Can we analyze our debts and determine between ourselves who will be responsible for what?
		When couples are going through a divorce, they must remember that their joint accounts mean that both are still responsible in paying their debts to the creditor.
				A divorce decree does not change the legal contract you and your former spouse made with creditors. You must arrange with creditors to change responsibility.
				Keep paying bills to preserve good credit: even if it's your spouse's debt, it's still your credit rating.
		f your spouse should die, a creditor cannot automatically close or change the terms of a joint account. In some instances, a creditor may ask you to update your application or re-apply. This can happen if the initial approval was based on all or part of your spouse's income or if the creditor has reason to suspect your income is inadequate to support the credit line. Once you re-submit an application, the creditor can determine whether to continue to extend you credit or to change your credit limits. While your application is being reviewed you are still allowed to use your accounts without any new restrictions. Within no more than 30 days of receiving the completed application the creditor must give you a written response on your application.
		he triple merged 3-Agency Credit Report includes comprehensive information that can help you prepare for significant changes or major purchases. By double-checking that ALL bureaus' information is accurate you can make sure your credit will work for you in times of change. The ConsumerInfo.Com® 3-Agency Credit Report costs just $34.95. To order simply call toll-free 1 (888) 888-8553 and ask our Customer Service Representative for a triple merged 3-Agency Credit Report.
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