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When my future spouse and I get married, who's credit will be more dominant?
I am 19 years old, I have 2 years of nearly perfect credit history. Have a couple cards with minimal ballance and a small auto loan now, and perfect payment history. My score is around 670-ish now. Currently in community college, and have 100% paid for in grants, but after I transfer and graduate with a bachelor's degree, I will have around 10,000 in loans. Needless to say, I will probably have close to 750 rating after my next 3 years in college.
My fiance has no credit history whatsoever, but she also will take out around ten thousand in student loans. We will get married somewhere toward the end or immediately after college with the money we have been saving for a wedding.
Understanding our backgrounds, if she has no credit, and I have good to excellent credit when we get married, are we going to find it difficult to get joint accounts? After marriage, I will be adding her to my credit accounts. Will this substantially boost her report? Will we have a hard time getting a loan for a home a few years after college?
Any advice and wisdom would be greatly appreciated. Thank you for your time.
@Tari Lee, I appreciate your input, however that was not a very helpful answer. I am a very responsible and mature young man, as she is a lady. We have been together for many, many years and don't plan on marriage for another 2 to 3 years. We are very responsible individuals and I don't see why we shouldn't get married if we will both be college graduates, in love, with enough money saved up to pay for our own wedding.
Next time, please try answering the question instead of talking about things you don't understand. Thank you
1 Answer
- bdancer222Lv 71 decade agoFavorite Answer
Marriage does not merge your credit. Your reports will remain completely separate. The only time both credit reports would matter would be joint loans. Typically, the interest rate is based on the one with the lesser credit.
Adding her as an authorized user to your credit cards will help her score -- authorized user accounts count in FICO scores for spouses and kids. The accounts will show on her report and her credit history/score will benefit.
Source(s): BD
