There are numerous possibilities to help a spouse or a partner repair and even rebuild credit history from scratch. Provided that you have good credit, you can add your partner as an authorized user on your oldest credit cards. In this case, your good history will restore your partner’s bad credit rather quickly. However, in this case, ensure that your card issuer makes reports about card authorized users to the credit reporting bureaus. The next option for a partner is to apply for a secured credit card backed by a cash deposit hence building credit without going into debt.
You also need to make sure that all bills (for utilities or any purchases) of your spouse or partner are paid on time at all times. A useful step in improving one’s bad credit is to pay off any existing debts. Credit utilization always has a negative impact on the overall credit score; so as soon as the existing credit is paid down, the score will begin to grow faster.
And there is one more handy tip to account for – free credit reports. They help people monitor their credit reports, and so follow the credit dynamics. Such a habit helps to ensure that all data in the credit history is accurate and calculated since even a tiny mistake can eventually lead to a significant drop in the credit score.