Is there a way to keep my credit separate from my fiances when we get married? His is great, mine is not.?

Answer 1

First, for the sake of a successful marriage, I congratulate you for thinking about this issue before you get married. I know several men who had credit issues while engaged to be married. They cleared up their problems before the marriage, and years later their marriages are as committed and successful as ever.

Yes, you can keep your finances separate from your fiance's. If you have joint accounts, close them and re-open separate accounts.

Note that this behavior might temporarily lower your credit scores. 15% of your FICO score is on length of credit history. You are scored on the length of time your longest open account has been open. The average is 14 years for a person's longest-open account. You will also be scored on the average length of time all your open accounts have been open. Closing an older joint account and opening a new separate account lowers your average and will lower your score slightly.

10% of your FICO score is based on new credit. For opening a separate account, your creditor will make a hard inquiry of your credit reports, a small negative. The inquiry loses its power to lower your score over the next 2 years, then falls off your report.

Another point: look at non-joint credit/loan agreements in which one is the co-signer for the other. The creditor will legally go after the co-signer as a second resort after the primary debtor has demonstrated inability to pay. Upon primary debtor's delinquency, the co-signer's credit history will get damaged. Removing the co-signer can be about as much work as re-financing the installment loan. Be careful: make sure you don't violate prepayment penalty agreements written into the contract.

Lastly, and much easier, remove each other as authorized users of the other's accounts.

Please vote: Did this help?

Answer 2

Each of you have seperate credit reports and it will always stay that way. If you get joint accounts (House, Auto, ect), then the payments made (or not made) will affect both your reports. There is no "Joint" credit report.

Best thing to do is get your credit straightened out and then you won't have to depend on him to help you, and anything you both apply for will have a better chance of approval.

Answer 3

LMAO!

Let the two flesh become one, but you want to keep the credit separate.

I want to see you part the Red Sea too!

FIX YOUR CREDIT FIRST.

And when you show yourself approved with your credit, then and only then, might you be ready for a lifelong commitment to a husband that shows prudence over his own finances.

Don't mess up a good thing by rushing the marriage before you fix your "compromised" credit and character.

Answer 4

i dont think so. :( My mother's credit is even tied in with my step-dad's dead wife. a little elaboration on what is causing your poor credit rating would be helpful. ie. if you have debts in collection pay whatever you can (even $5 a month). if you are paying something it cannot go against you. if your credit is bad because of a lack of credit get your rent (if applicabe) put in your name along with your utilities (electricity, cell phone, lan line). those do wonders towards credit. even going to the bank and getting a $100.00 loan can help.

Answer 5

good question. I would keep stuff in your name. until you get your credit back up.