How does marriage affect my credit....?

Question

for instance my soon-to-be wife and I both have good credit history. She has a better credit score just do to the fact that she has a longer history of good credit. I have only had my 1st credit card for almost a year now and I have been making timely payments in full and they have already raised my limit once so I am sure my score is fairly good as well. If we both decide to combine our bank accounts and credit cards, etc., what affect will this have on our respective credit ratings?

Answer 1

From what you have said, yours will go up, hers will go down. But, you say you both have a good credit history, so it would still be good. As to overall, it depends: if you (two) assume new credit (as in purchasing a house), it could get worse (credit/available credit) or improve (mortgage payments are good for credit scores...it all depends on how much your available credit is compared to your assumed credit).

Answer 2

Well in my case, it really hurt my credit. My husband racked up thousands on credit cards by gambling, drinking, and buying nonsense stuff. Because we were having difficulty keeping up with the credit card payments and other everday living like food, morgage, car payment and so forth, we ended up filling bankruptcy, (something I didn't want to do). We were able to file the one that you didn't have to pay back before they changed the laws. I spoke to two different laywers and they both told me that if my name was on any credit card or item that was being put into the bank ruptcy, and I kept my name out of the bank ruptcy and got a divorce before it accored, the credit card companies would come after me for the money, which I didn't have. So basically, I was forced to file along with him and now have bad credit because of him.