Credit Scoring Expert speaks candidly about his personal growth and asks respected writers to share content to help others improve their life.

“How does being married affect my credit score?” My clients are often surprised by my response to this question – Do not open joint credit accounts! In this session we’ll pull excerpts from my book 7 Steps to a 720 Credit Score to explain why couples should keep their credit separate.If you are married…
“Establish credit separately and encourage your spouse to do the same. This way you can leverage each others credit when necessary. For instance, if you need a new line of credit and have a high utilization rate on your card (a balance of over 30 per cent), you can transfer a portion of your balance to your spouse’s credit cards. You can then walk into the loan application with a low personal debt and higher-than-usual credit score.” If you are going through a divorce…
“If you own a home or joint credit card accounts, you will need to protect your credit during and after a divorce. When the courts decide, who will retain ownership of your house; make sure your bank knows as well. Refinance your house in your name or in your spouses name, depending on which of you retains ownership of the home after a divorce. If your spouse retains ownership without refinancing, you credit will be damaged if s/he becomes delinquents payments. For the same reasons, you will need to cancel all joint credit card accounts. Call your credit card company and ask for the procedure to cancel an account.”
Philip X. Tirone’s, book “7 Steps to a 720 Credit Score: Strategies for Excellent Credit” as well as Applying the 7 Steps to a 720 Credit Score Workbook”, containing samples of the forms, letters and worksheets are both included in his 7 Steps to 720 Credit Score Kit. The kit is available a www.720score.com or by calling 1-888-254-2702.