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Facts about Consolidating Credit with Your Better Half

By Brian Anderson
Published: Sunday, September 20th, 2009

Surely, it is commonplace for Americans to spend using their respective credit cards. In fact, more Americans prefer spending this way than using cash. Although cash is still a valuable tool for the exchange of goods and services, credit cards are just more convenient to use, aside from the fact that it enables the American consumers to spend more than what they already have. In fact, it is also these two factors why credit also creates problems for many consumers. In fact, credit spending has already tempted many consumers to overspend. In the end, it may mean bad credit reports, spelling financial disaster to consumers. That is also the perfect reason why many are actually looking for effective credit score tips. In the end of the day, the last thing that every American consumer wants to have is a bas credit report. 

Surely, there are already many credit score tips that are available to consumers, especially on the internet. Ranging from how to avoid overspending to how to know a credit report better, these credit score tips have already benefited many a credit consumer. In the meantime, there are a lot of couples who are now asking: by the time that we marry our significant other, is it a wise credit report tip to likewise marry our respective credit? Given the fact that most American consumers already have a family, it may be interesting to answer this question. Actually, the answer is yes, given that you will manage your finances correctly. Here are the ways in which you can finally witness that marrying your credit is indeed, a good credit report tip. 

  • Proper couple budgetingOf course, it is a basic thing to properly manage finances, in able for you to have a good financial standing, and likewise, a good credit report. In this case, when you want to marry your credit, be sure that you will have the appropriate budget scheme that would apply both to you and your partner’s needs. Remember that you are already a couple, so it is in fact necessary for you to do so. Knowing how to budget each one’s bills effectively requires differentiating necessity from want. It helps for both of you to properly oversee the rental, utilities and grocery bills, while ensuring that it must be paid on time. Plus, you must also properly budget personal must haves for each one of you, so that both of you would not overspend. 
  • Know what scheme is comfortable for both parties: having an Authorized User or Joint Account HolderAuthorized user and joint account holder is two of the most basic ways on how to marry credits. Basically, an authorized user scheme, by its name, authorizes another person to use your credit card. However, major transactions involving changes in your credit account is not allowed to the authorized user, plus, it is only the owner who is liable for debt payments. However, having a joint account holder enables both parties to be accountable to the debt incurred, plus, it also enables the two parties to make major changes in the credit account. Knowing what scheme would apply is a must, depending on the spending pattern of your partner.   

 Surely, taking into account of these factors would help witness credit marrying as one of the useful credit score tips for you.

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