Did you know that couples can work together to improve their credit scores? Follow these steps to get started:
1. Add your spouse as an authorized user to your credit card. This can help them build or improve their credit.
2. Help your spouse apply for a small loan or credit card. This can help them establish credit in their own name.
3. Make sure all bills and payments are paid on time. Late payments can negatively impact credit scores.
4. Keep credit card balances low. Using over 30% of credit limit can damage your score, even if you pay in full monthly.
5. Share credit accounts. This can help both spouses build credit together. But ensure your payments are done on time.
6. When one person is unable to make payments on time or pay balance in full, help them out. They'll return the favor.
It's important to remember that improving credit scores takes time and effort, especially as a couple.
Couples should work together to manage finances responsibly and make smart decisions to improve credit over time.