Will My Credit Score Be Affected When I Get Married
This is a question that many people consider when they get married, particularly if they or the person they are marrying has been married once before and showed signs of financial problems in that marriage. The fact of the matter is that it’s not an easy question to answer as there are a few factors that come into play.
The simplest way to ensure that your personal credit score is not affected in anyway by getting married is to make sure that you and your spouse do not share any types of financial accounts. This means that you mustn’t open bank accounts together, get credit cards together, get a mortgage together or any other type of loan or credit.
Of course, once a person is married it becomes quite difficult to be in the ‘business’ of being married without sharing some form of financial responsibility. Even the simplest of types of credit, such as a gas card, with both of your names on it will have an affect one way or the other on your credit score.
You can also rest assured that any debt on his or her credit score that occurred prior to your marriage will not have a negative effect on yours after you’ve become married. That is, unless you put your name to that credit by either signing a repayment plan of some sort or taking over part or all of the debt yourself. At which point the debt then becomes tied to your credit report.
The same can be said of bank accounts as well. If the person you’re getting married to has a bank account or a number of accounts that have been struggling prior to your marriage, they too will not have an effect onyour credit score unless you put your name to those specific accounts in some way, shape or form.
These are all things that should be discussed and fully disclosed prior to getting married, especially if you’re of the mind to have shared accounts and are looking forward to the shared responsibility benefits that marriage brings with it. Once you’re married and have opened your first account together, regardless of what type of an account, then you and you’re credit score are tied to it.
As you can see, answering the question ‘Will My Credit Score Be Affected When I Get Married?’ isn’t necessarily an easy one way answer. There are many things to take into consideration but most of it relies on whether or not you share any debts together, as a couple.
The important thing to remember if you’re worried about your credit score after getting married is that anything the two of you do financially as a couple, meaning both of you put your names on, will absolutely have an effect onyour credit score . So, it’s important to be sure you and your future spouse are on the same page as far as financial responsibility is concerned.
Other Related Articles May Interest You:
- GOOD CREDIT SCORE
- IMPROVING YOUR FICO CREDIT SCORE
- EXCELLENT CREDIT SCORE
- Some Basic Credit Score Meanings
- What is Considered a Good Credit Score
Tags: Couple Credit Score, credit score, Credit Score After Married, Credit Score and Get Married, Personal Credit Score
