Credit report for bereaved spouse

RG2015

It has not happened yet but it will happen at some point. Where is the best place to get financial planning advice for a married couple when one partner has virtually no financial history.

McKneff

What !!!


A bereaved spouse is a wife or husband whose husband or wife has died.


What has that to to with a credit score....

RG2015

Hi McKneff, I will try to explain.

I did say credit report not credit score but we'll leave the semantics. My wife does not have a credit card as she has been an additional cardholder on my credit card for 30 years. She has a limited credit history with virtually everything in my name. We currently have an excellent financial rating but it is all in my name. If I die first my wife may have difficulty in obtaining credit. My question relates to advance financial planning that may mitigate this possible scenario

[Deleted User]

She should try for her own credit card and start to build a history.

But in terms of the wider picture of financial planning, I would see a good IFA. They can be worth their wieght in gold in how best to plan your finances, particularly as a couple and beyond.

tiger_eyes

She could start building up her own credit history by using a credit card each month and paying it off in full, but surely the best solution is to make sure she won't need credit if you die. Life insurance to pay off the mortgage, pension arrangements to bring in an income for her, savings she can easily access.

RG2015

Thank you for your suggestions. In an uncertain world it is always good to look to the future so we don't get caught out. We Brits are very reticent when planning for death even though it is inevitable. As regards finding an independent financial advisor how do I find someone I can trust? We used to trust banks and look where that got us.

PasturesNew

Credit isn't compulsory. I've not had a credit card.... I've no idea what my credit score is as I've never looked.

I've no debts, just no credit - don't need it.

One of her lessons will need to be living within her means and credit could just be setting her up for a fall.

DCFC79

RG2015 wrote: »

Thank you for your suggestions. In an uncertain world it is always good to look to the future so we don't get caught out. We Brits are very reticent when planning for death even though it is inevitable. As regards finding an independent financial advisor how do I find someone I can trust? We used to trust banks and look where that got us.

Use Google to find an IFA or ask people you know.

Must be an IFA local to you.

No need for credit cards, get some utility bills transfered to your wife or maybe there's a mobile phone contract she could get, doesn't have to be an expensive one but 1 that's same as what she pays now.

Ben8282

The title of your post is very misleading; it implies that you are asking if you can obtain the credit report of your deceased spouse.
I can't seen any reason to involve financial advisors unless you want advice on pensions or investments or suchlike.
Some practical suggestions with regard to the specific question of how to make it easier for your wife to obtain credit after your death:
Change your main bank account to a joint account.
Start to transfer some utility bills which report to credit reference agencies to your wife's name.
If you have a credit card issued by your own bank, at the same time as you change your account to a joint account try to get her her own credit card.
If your financial circumstances permit ensure that your wife has a substantial amount of money in her own name to minimise the impact in the initial weeks after your death,

RG2015

Hi,

Many thanks to all who have posted with helpful suggestions. Bereavement is a difficult topic and I thought this would a valid discussion topic. I will take all of this advice on board.

I agree that my first post was a little vague but I believe that I did clarify my question on my second post.

I fail to see though how "credit report for a bereaved spouse" could in any way imply "credit report for a deceased spouse"

As regards the validity of the question, my wife has been using my credit card for almost 30 years and yet none of this is recorded in her name. Surely 30 years of responsible credit card use should convey some financial benefit to her.

[Deleted User]

RG2015 wrote: »

Surely 30 years of responsible credit card use should convey some financial benefit to her.

No, as she has had no responsibility to manage it or pay it back herself.

She's simply been a passenger in a well driven car. It doesn't mean she knows how to drive.