Why every woman needs a credit history

Most women of my generation (Gen-X) and younger have at least a minimal credit history. Credit card companies love to extend credit to university and college students of both genders (start 'em young!).

You might be surprised, but I actually think this is a good thing. With a relatively small credit limit, students can learn the ropes of how to manage a revolving credit line, and prove to the banks that they are responsible with their money. (Yes, I know some don't learn the lesson and go overboard on spending - that's a topic for another day).

Unfortunately, there are still a sizeable number of older women (Boomers, for example), whose credit history is entirely intertwined with their male spouse. As recently as the 1970s, many banks would refuse to issue a credit card to a woman without her husband's signature.

Believe it or not, when I got married in 1996, and wanted to open a joint account with my husband, at first they only ran a credit check on him, and when they...

Continue Reading...

50% Complete

Tips for Living a Healthy, Joyful and Fulfilling Life - Delivered Right to Your In-box! 

Join my email list today, and never miss another edition of Momentous Musings! You'll also receive additional value offerings from time to time, which are always completely optional. Remember, you can unsubscribe at any time.