In the event of a spouse's death, creditors can not automatically remove the deceased person's name from the joint account and make the debt the sole responsibility of the living spouse. It will be necessary to contact each creditor separately. In some cases, the widow or widower may need to reapply for the credit card or loan as an individual borrower. Keep in mind that several of the credit reporting agencies regularly update their records using information provided by the Social Security Administration. As a result, joint accounts that include someone who is deceased will be flagged when the creditors are notified.
Strategy 6: Correct Inaccuracies in Your Credit Reports, and Make Sure Old Information Is Removed. One of the fastest and easiest ways to quickly give your credit score a boost is to carefully review all three of your credit reports and correct any erroneous or outdated information that's listed. If you spot incorrect information, you can initiate a dispute and potentially have it corrected or removed within 10 to 30 days.
Strategy 7: Avoid Excess Inquiries. Every time you apply for a credit card or any type of loan, a potential creditor will make an inquiry with one or more of the credit reporting agencies (Experian, Equifax or TransUnion). This inquiry information gets added to your credit report and will typically remain listed for two years. For one year, however, the inquiry will slightly reduce your credit score. If you have multiple inquiries in a short period of time, this can dramatically reduce your credit score.
