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Establish Credit In Your Own Name

As soon as possible, apply for a credit card in your own name, not as "Mrs. Somebody."

You can tell the credit card company (if anyone asks) that you are thinking of starting a business and want to develop a track record of having your own credit.

If at all possible, avoid signing up for cards that have initial fees or monthly charges. Conventional credit cards have no monthly fees and no sign-up charges. If the card you are considering has these features, look elsewhere first.

Also, pay attention to the interest rate. If the best card you can get has a high rate, then pay the balance each month, if at all possible, and switch as soon as you can to a card with a lower rate.

After the divorce is complete, it may be much more difficult to get credit in your own name.

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Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More...