Have your own credit history

July 2019 – Make sure you have your own credit history. If you are a secondary on a credit card established by someone else, or have any joint debt (credit cards, car loans, lines of credit, mortgages, etc.) and the primary on the card or loan dies, all debts become demand loans. This means as the secondary person you will need to re-apply and qualify to continue the card or loan. Otherwise, the full amount is due and payable instantly. This can be a serious problem if you don’t already have your own credit history established. How will you pay your bills or stay in your home? If this is you, and you don’t have your own credit history, don’t wait. Apply now for a credit card or small loan, even if you don’t need money, then make sure you make all payments on time and repay it in full. As you prove your credit worthiness, your credit limit will increase so that if and when you may need to stand on your own, having access to money and credit won’t be a problem.