I'm getting married and I have good credit but he doesn't. I plan on keeping somethings (such as my credit card) in my maiden name. Will my score really go down because of his.
2006-06-25 10:50:12 · 4 answers · asked by Mrs_knowitall 2 in Family & Relationships ➔ Marriage & Divorce
Your individual credit will not change by simply marrying someone with bad credit.
However keep in mind a couple of things. When applying for an account individually, having good credit will help you get better terms, rates, and offers. If you applying together, the creditor will now take into consideration the negative report in their decision. Chances are approval will not be affected, but terms will.
Depending on your relationship and decisions you two have (or will) make, it would make better sense for you two take a very active role in managing finances. If you two are not going to do combined banking/finances, then you also might want to help him with his finances if it something he would agree to. Also realize that you should both work at fixing his credit. Pay off any accounts that may be in default and focus on paying accounts on time, while trying to lower the total outstanding debt.
If he does not have active accounts then it will be necessarily for him to obtain some kind of credit in order to start building a good history of payments. There are options like secured cards or "annual fee" cards that may help him build his credit.
Good luck
2006-06-25 11:25:13 · answer #1 · answered by Joseph L 2 · 15⤊ 6⤋
Only if you allow him to use your credit and he won't pay. Otherwise he can't touch your score. Marriage has nothing to do with it. It is how you handle your own credit. Now until he gets his improved you two won't be able to get a loan together so make sure at first you do not put him name on any thing.
2006-06-25 10:57:28 · answer #2 · answered by Krinta 7 · 0⤊ 0⤋
no but creditors will look at both parties when applying for credit in the future,but your score is yours and marriage wont affect your personal credit
2006-06-25 10:58:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
no. Normally when you get married it will help you because of just one person there is two and married people in the eyes of creditors are more responsible for some reason.
2006-06-25 10:56:53 · answer #4 · answered by T agent 3 · 0⤊ 0⤋