I have horrible credit and she has great credit. When we get married, will mine get better but will hers get worse?
2007-10-25 05:13:21 · 4 answers · asked by Andre 7 in Business & Finance ➔ Credit
Neither.
Your credit is yours and hers is hers.
The only way anything will change if if you apply for credit jointly, then your bad credit will cause you to get a higher interest rate but will give you the chance of re-establishing your credit as long as the loan is paid as agreed.
2007-10-25 05:19:48 · answer #1 · answered by ? 7 · 5⤊ 0⤋
Your credit report and credit score belong to you alone.
The fact that your wife has a good credit score can help you do some repair on your own credit but you have to be careful about this. Your wife can add you as an authorized user to any of her credit card accounts. As an authorized user you will be reported in good standing to all the major credit bureaus. An added benefit is that if your wife has kept her credit card in good standing for over 3 years, you will get an increased bump in your overall credit outlook and scoring.
Now - if you feel like you''ve gone through a bad patch with credit in the past and that is all behind you and you are now in control of your spending than this could be a good idea.
However - if you have any doubt, if you are not absolutely sure and committed to making payments and being in control of your spending; if there are any doubts whatsoever, then this is a bad idea. After all, you don't want to drag your wife's good score down.
Congratulations, have a great marriage and good luck.
2007-10-25 06:01:32 · answer #2 · answered by ? 2 · 1⤊ 0⤋
If your horrible credit is an indicator of your spending habits and money management skills, it will have a HUGE impact on your future wife.
I suggest that as soon as you get married, you turn all finances over to her. Give her all your credit cards, just hand her your paycheck every week, and live on whatever weekly allowance she gives you.
In about 2 years, she'll probably turn your horrible credit around.
2007-10-25 07:30:05 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋
Marriage will not affect your credit history or hers, but anything you try to rent or buy jointly will use both of yours, unless you specify only her income and only her credit history, and then the timely payments will be only on her credit history and not be helping yours.
2007-10-25 05:47:28 · answer #4 · answered by Frank 5 · 1⤊ 0⤋