Great credit marries not so good credit ???????

Question

My soon to be husband has so so credit. He filed bankruptcy over 4 years ago. I on the other hand have great credit. Will our marriage improve "our" overall credit rating. Make mine worse or improve his. HELP ??

Answer 1

Nope it won't - make sure that your two have talked about how you are going to manage money together - otherwise you will be headed for divorce court (about 50% of divorces are related to fighting over money).

I don't know what your long-term financial plans are, but getting on the same page now with a goal and a written plan that you both agree to and stick to - and you will be able to overcome this issue.

Answer 2

Your credit scores won't be merged unless you apply for credit together. When it comes time for things like a mortgage consider getting it based only on your income and credit.
His credit will improve the more the bankruptcy becomes longer ago and may be excellent in a few years if he is responsible with credit and money.

Answer 3

A couple does not have a credit rating. You will each have your own credit score. If you apply for a loan in your own name, only your file will be considered. If you apply for a loan together, the creditor will pull both reports. How the creditor will respond to your husband's bankruptcy is up each creditor and their individual standards.

Your husband will get an increase in points if you have credit cards with long histories of good payment and you add him to those accounts. Then, next month, the card issuers will report the good history in both your names.

Answer 4

don't put anyhing under his ssn# and don't apply for anything
jointly.

Answer 5

make your worse, his better. your scores added divided by two.

Answer 6

Your babies will be able to spend, just not charge.