How do credit scores work for married couples?

As you can imagine, two people have a much larger financial picture to manage when they are living together. You can have a joint account for your finances but each person will have a different credit score. When two people apply for a loan, a lender will check both credit reports. If your partner has a lower credit score, that will lower your credit score as well. Your partner's score will also affect you if you want to refinance a loan or get a credit card.

How does credit score affect married couples?

If you are in a committed relationship, your credit score and credit report can definitely have different priorities. Not to mention the different things each of you have going on right now. Your partner may have a few medical collections or be looking for their first credit card, and you could have a few late payments under your belt. It’s important to discuss your credit score and report with one another, find out what each of you are looking for from your credit and make the necessary changes.

How do credit scores work for married couples together?

Couples who want to combine their credit scores and debt together will want to make sure the partners are on the same page before combining. One partner’s credit score could be damaged by some debts, and that could affect both partners’ credit scores. For example, if one partner balances a credit card that has gone into default, the other partner’s credit score could suffer a significant hit. If one partner has a mortgage that’s seriously underwater, that could also affect both

How do my credit scores change for married couples?

If you're in a marriage and you decide you want to purchase a house, finance a car or take out a loan, your credit report and score will be important to your spouse. This is because the lender will be looking at both of you and the information in your credit report and score may impact whether or not they will approve your loan. If one spouse has lower credit scores than the other, it may be challenging for them to get approved for a loan.

How will my spouse affect my credit score?

Your spouse will most likely have a credit history of their own. You can check your spouse’s credit report and, if you wish, dispute any information that you find to be incorrect. You can also ask your spouse to open credit accounts in your name and pay the balances off each month.