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a part of your credit record.  If you find that certain 
accounts are missing, write to the credit bureau and ask 
that they add the information.  Most will do so, although 
they may charge a small fee. 
Once you have reviewed your credit records and those of your 
husband and dealt with any problems that they may contain, 
it is time to initiate the credit-building process.  If you 
have little or no credit, the best approach is to obtain a 
small cash-secured loan from your bank.  This is an 
important first step.  If your marital situation changes and 
you need to borrow money, you will already have a positive 
relationship established with a lender. 
Schedule an appointment with a loan officer, and explain 
what you want to accomplish.  If the first bank you talk 
with is unwilling to work with you, go to another bank.  
When you find a bank that is willing to work with you, open 
a checking account or a savings account in your own name at 
that bank. 
The bank you are working with will make you either an 
unsecured or a secured loan.  It may ask that you secure the 
loan with an asset, or it may want to make a cash-secured 
loan.  If it makes you a cash-secured loan, the bank will 
probably ask that you put the loan proceeds in a certificate 
of deposit at the bank.  In other words, you will not have 
the use of the loan money.  This is all right, however, 
since the purpose of the loan is to build a strong credit 
history in your own name, not to purchase things.  If you 
default on the loan, the certificate of deposit or the asset 
you have posted as collateral allows the bank to recover its 
losses. 
A Women's Own Credit History #2
If the bank tells you that you will need a cosigner to get a 
loan, do not ask your husband to cosign.  Ask a close friend 
or relative. 
Once you have paid off your loan, request a copy of your 
credit record to make sure that it reflects your loan 
payments.  If it does not, ask your loan officer to report 
the payment history. 
Depending on your situation, you may now be ready to obtain 
a credit card in your own name.  Or you may need to apply to 
your bank for a second, unsecured loan or for a loan without 
a cosigner. 
If you have a credit file in your own name and you need to 
use joint accounts to help build your history, make sure 
those accounts are a part of your credit record, assuming 
that they have a good payment history.  Also, make sure that 
any credit you had in your maiden name or in another town is 
a part of your credit record.  If you find that certain 
accounts are missing, write to the credit bureau and ask 
that they add the information.  Most will do so, although 
they may charge a small fee. 
Once you have reviewed your credit records and those of your 
husband and dealt with any problems that they may contain, 
it is time to initiate the credit-building process.  If you 
have little or no credit, the best approach is to obtain a 
small cash-secured loan from your bank.  This is an 
important first step.  If your marital situation changes and 
you need to borrow money, you will already have a positive 
relationship established with a lender. 
Schedule an appointment with a loan officer, and explain 
what you want to accomplish.  If the first bank you talk 
with is unwilling to work with you, go to another bank.  
When you find a bank that is willing to work with you, open 
a checking account or a savings account in your own name at 
that bank. 
The bank you are working with will make you either an 
unsecured or a secured loan.  It may ask that you secure the 
loan with an asset, or it may want to make a cash-secured 
loan.  If it makes you a cash-secured loan, the bank will 
probably ask that you put the loan proceeds in a certificate 
of deposit at the bank.  In other words, you will not have 
the use of the loan money.  This is all right, however, 
since the purpose of the loan is to build a strong credit 
history in your own name, not to purchase things.  If you 
default on the loan, the certificate of deposit or the asset 
you have posted as collateral allows the bank to recover its 
losses. 
If the bank tells you that you will need a cosigner to get a 
loan, do not ask your husband to cosign.  Ask a close friend 
or relative. 
Once you have paid off your loan, request a copy of your 
credit record to make sure that it reflects your loan 
payments.  If it does not, ask your loan officer to report 
the payment history. 
Depending on your situation, you may now be ready to obtain 
a credit card in your own name.  Or you may need to apply to 
your bank for a second, unsecured loan or for a loan without 
a cosigner. 
If you apply for a credit card, begin by applying for credit 
that is relatively easy to obtain.  This type of credit 
includes retail store charge cards and oil and gas cards.  
Charge a small amount, and make your payments on time. 
After you have demonstrated that you can manage this new 
credit, apply for a national bankcard.  Having one can help 
make other forms of credit more available to you.  If your 
own bank offers a bankcard and if its terms are competitive, 
apply for it. 
Widows/Widowers
If your husband (or wife) is ill and death is on the 
horizon, it is important that you prepare fiscally for 
widowhood.  This preparation includes building a credit 
history for yourself; correcting problems in your credit 
file, if you already have one established (do the same for 
your husband's credit file); preparing written explanations 
for any adverse information in your credit record that is 
the result of events beyond your control-your husband's 
financial troubles or his mismanagement of money-and talking 
with a trusted financial advisor. 
Generally, dealing with this situation is a judgment call; 
there are many women who continue to use their husbands 
credit cards long after their spouses have died.  Doing so 
also can cause women to delay establishing credit in their 
own names.  This can cause women trouble later on if they 
wish to buy a new car, a smaller home, go back to school or 
do some remodeling etc.  This should be a special 
consideration for younger widows who may still have several 
decades of life to live. 
When you apply for credit after your husbands death (and 
during any credit reapplication process), potential