If you're married and live at the same address as your wife can her credit rating affect yours evening if you don't have any joint accounts?
2007-10-31 02:08:00 · 13 answers · asked by Tim 2 in Business & Finance ➔ Personal Finance
Asking out of curiosity as I'm newly married. We both have excellent credit ratings (so wouldn't want to do anything to ruin it).
2007-10-31 02:15:43 · update #1
Its important to know that the previous answers are incorrect.
Credit DOES NOT go on address in the UK. It used to be the case, but it was blantantly unfair, and so was scrapped.
Now debt can only be attached to a person, not a property, and properties can not be "blacklisted".
If you have no joint bank accounts then its unlikely that your credit will affect each other much. The reason debts are normally attached to both parties is that they go down jointly on things like loans and mortgages.
2007-10-31 02:33:18 · answer #1 · answered by Anonymous · 1⤊ 1⤋
No, marriage does not affect your credit rating, but joint accounts do.
you can find pleanty of guides at http://www.moneysupermarket.com/cards/
Also, i got the info from -
Marriage doesn't hurt, joint finances does. Simply marrying or living with someone with a bad credit score shouldn't impact your finances, as recent changes means third-party data (i.e. someone else's info) doesn't appear on your file.
Yet if you're 'financially linked' in any product, it can have an impact. Even just a joint bills account will mean you are co-scored. If one partner has a poor history, keep your finances rigidly separate, and it should maintain access to good credit for the other. As a note, there's no such thing as a ‘joint' credit card; technically it's one person's account and the other just has access to it.
If you split up with someone you've joint finances with, once the accounts are separated, always write to the credit reference agencies and ask for a notice of 'disassociation', to stop their credit history affecting yours in the future.
2007-10-31 22:46:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
When your married....no matter who has poor credit the other is effected by it.
I know its sad huh ?
The Gov. needs to make changes to this situation.
I can only control myself not others. Here is a perfect example.
A man has credit with Sears he decides to stop paying. Because you were married when he applied for this card you now are as much responsible for the dept. Even though your name is not on the account and you cannot use his account.
2007-10-31 02:25:50 · answer #3 · answered by cocoamoe 5 · 0⤊ 0⤋
it used to be the address but now it is the name on the credit application that is checked in theory it should not but it does in fact still happen.
I will put it like this if your brother or sister lived with you at the same address and he/sh had adverse credit reposts it would not in theory effect your abiltity to get credit. but man and wife is a different ball game
2007-10-31 02:25:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
NO. It doesnt affect your credit as long as you do not co-sign for anything.
come on people. You cant be held for someone else's actions. Married or not. Get real!
Its the ss#. Not the address.
2007-10-31 05:02:02 · answer #5 · answered by heybulldog 5 · 0⤊ 0⤋
On Marriage everything becomes shared .. don't matter who owned what before that, and who defaulted on what afterwards, now it's all equally shared by each of you.
I seem to recall, in the 'old days' you could take out an Advert in the Times saying "I will no longer be responsible for my wifes debts" ... however it has no effect in law.
Many a wife, on divorce, has discovered that her soon-to-be-ex husband has run up massive business debts, half of which she will have to pay back over the next 30 years ..
.. and many a husband has discovered that, on divorce, half his business will belong to his soon-to-be-ex wife ..
2007-10-31 02:27:43 · answer #6 · answered by Steve B 7 · 0⤊ 0⤋
Yes she can - my husband had poor credit rating and we still don't have a joint account. It affected my very good credit history x
2007-10-31 02:12:53 · answer #7 · answered by Anonymous · 1⤊ 1⤋
My wife affects my credit rating.
She never gives me credit for anything.
2007-10-31 02:23:12 · answer #8 · answered by oldfart 5 · 1⤊ 0⤋
don't give her access to your credit cards. my ex spent $800 in month and threw away the bill . I had to call the credit card company to get a copy to see what she bought - couldn't figure out half of it - I left the marriage a few months later.
2007-10-31 02:28:34 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I take it you have bad credit, I hope you've got it all under control now and don't involve you wife.
Seems like that's why your asking?
2007-10-31 02:11:51 · answer #10 · answered by smaxsx1 3 · 0⤊ 2⤋