Does My Spouse’s Credit Affect My Credit?

Does My Spouse’s Credit Affect My Credit?

This is a common question that married couples will ask.

In short, the answer is “no”.

You can share an account and credit cards with your spouse but each of you have your own credit score.

If you share an account and your spouse misses a payment however, your scores will be impacted since you are equally responsible for making sure that payments on the account are made on time.

When applying for a loan together, your spouse’s credit can affect your loan.  Many lenders will base interest rates on the lower of co-applicants’ credit.  This means if you apply for join credit, the terms of your loan could be altered (negatively) if one spouse has significantly lower scores.

We do offer a couples discount, so if this is a concern with you and your spouse, contact us today for a free consultation.