Ask a family member or friend to cosign a loan or credit application. Consider applying for a secured credit card. A secured card looks like and can be used like a regular credit card. In order to obtain a secured card you must deposit money into a savings account to be used as collateral. The credit line on the secured card may be 50 to 100 percent of the money you deposit.
Secured cards can be expensive.
Many financial institutions charge an application and processing fee in addition to an annual fee and high interest rates. Shop around if you decide a secured card would be helpful in reestablishing credit. How Divorce Can Affect Your Credit Even though a divorce decree specifies that your ex-spouse will be responsible for a certain credit account, if the account is a joint account and has your name on it, you are still legally responsible. A divorce decree does not relieve you from joint debts incurred while you were married. This includes credit cards, car loans, mortgages, etc.