While your bad credit does not directly affect your credit score spouse can have many indirect effects as advance to manage their finances together. Before marrying, they should discuss their credit scores to not have any surprises when applying for a loan together after the wedding.
While your bad credit does not directly affect your credit score spouse can have many indirect effects as advance to manage their finances together. Before marrying, they should discuss their credit scores to not have any surprises when applying for a loan together after the wedding.
separate scores
Credit scoring is done on an individual basis, so even after marriage, you and your spouse maintain separate credit ratings. They will have the credit history of each before marriage, meaning that comes to your bad credit. The good news is that this bad credit no credit report transferred to your spouse. Only accounts with together appear on both credit reports.
Borrow together
Your bad credit affect credit terms being offered to you and your spouse when applied together. This is more relevant when you apply for a mortgage because the interest rate offered is based on your credit and could force them to pay thousands of dollars more in interest than they would have paid if your spouse applied alone. In fact, some couples choose to have only the spouse with good credit make the mortgage application. However, this can result in a much lower approval, because only consider the income of an applicant.
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