Does Marrying Someone with Bad Credit Effect Yours

Finance Investment companies in Delhi, India says that if you marry someone with poor credit, it’s not necessarily going to hit your credit score. A common credit score is expected to hit you when your credit card is connected to a joint account that belongs to you and your spouse. That’s because credit reports, which are the basis of credit score, are tied to individual Social Security numbers.

If your credit card was issued keeping in mind the joint account, the ability to get a loan or the interest rate you pay will be based on both the partner’s credit histories. Even if you have a good credit score, but your spouse has a spotty record, the terms likely won’t be as favorable.

However, bad credit rating of a single person in a joint account is definitely not going to drag down the credit score as a whole. Similarly, as long as you continue to pay your bills on time and manage your credit wisely, the good credit score of one of the partners will bring the other partner’s credit rating up. This can be an opportunity for the person with better financial habits to help their spouse improve how they manage their money.

Nevertheless, if your irresponsible money habits result in late payments or maxed-out credit cards on joint accounts, your own credit will suffer. Considering this fact, it’s better idea to share your finances with your fiancée before you decide to tie the knot.

According to finance investment companies in Delhi, India, the challenge of marrying someone with bad credit is that if there is any underlying issue that hasn’t been resolved will only make problems more severe in the years to come.