Your Credit

Credit Histories for Women

Under the Equal Credit Opportunity Act, reports to credit bureaus must be made in the names of both husband and wife if both use an account or are responsible for repaying the debt. Some women who are divorced or widowed may not have separate credit histories because their credit accounts were listed only in their husbands' names. Divorced and widowed women can still benefit from such a record.

Under the Equal Credit Opportunity Act, creditors must consider the credit history of accounts women have held jointly with their husbands. Creditors must also look at the record of any account held only in the husband's name if a woman can show that it also reflects her own creditworthiness. If the record is unfavorable-for example, if an ex-husband is a bad credit risk-she can try to show that the record does not reflect her own creditworthiness. Remember that a woman may also open her own account to ensure starting her own credit history.