Everyone eighteen and older needs a credit card in their own name and social security number, even if it is not being actively used.
Why is this important?
Everyone needs a credit card in their own name to be prepared in the event of an emergency.
Some couples have just one credit card, with the spouse as an authorized user. While this arrangement works the vast majority of the time, it will be a problem when the primary account holder passes away.
When someone dies, their credit cards are cancelled. The day you lose your spouse is not a day you want to be applying for a credit card.
How do you know if you have a credit card in your name?
Visit the FTC-sponsored Annual Credit Report website.
Enter your personal information including your name, social security number, birth date, and address. You will be also asked a question to confirm your identity. For example, you may be asked to enter the payment amount for your mortgage. You are eligible by law for a free copy of your credit report every 12 months.
What do you need to do?
Visit the FTC-sponsored Annual Credit Report website and ensure you have a credit card in your own name
If you do not have a credit card in our own name, obtain a credit card
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