answersLogoWhite

0


Best Answer

Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.

User Avatar

Wiki User

โˆ™ 2006-09-28 18:36:39
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides

Personal Finance

20 cards

What is rhetorical device

Who was the father of rationalism

What is a cash advance

What is discretionary spending within a budget

โžก๏ธ
See all cards
3.67
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: If you have bad credit will it affect the credit score of your spouse?
Write your answer...
Submit
Related questions

How long does bad credit affect your credit score?

as long as your credit file contains negative information it will always impact your credit score


Does wife credit card affect husband?

If a spouse has a credit card in their own name & the other spouse isn't listed on it, bad credit won't affect the second spouse. But, if you both apply for a loan or other credit - the credit bureau will check both parties credit reports.


What is a bad credit score?

425 is a bad credit score.


Will a spouse's bad credit affect your credit in a community property state?

Yes. If you are married and your spouse has bad credit, you inherit that bad credit and depending on the state, you can inherit half the debt if you divorce. * No, debts incurred before marriage do not affect a new spouse's credit report even in CP states. Problems could arise however, if the couple apply for a joint line of credit such as a mortgage.


Is 629 a bad credit score?

A credit score of 629 is not a very bad credit score, but it is not a great credit score. A great score will be 700 and above.


Is 650 a bad credit score?

The credit score 650 is really not that bad. With a 650 credit score you can finance a home or car.


How bad its 520 credit score?

This is a fair credit score.


Is the credit score of 583 a good score?

583-619 is bad credit score in credit score range


What is considered a bad credit score rating?

A credit score rating is not hereditary. If your parents have bad scores, it doesn't affect you, unless they are deadbeats and applied for a loan under your social. You build your own credit score, which under 650 is generally considered poor.


Can you marry someone and not have your bad credit affect their credit?

Credit scores are individual and your marriage to someone with a lower credit score than yours will not affect your credit score. Credit scores are based on how much debt you owe versus how much credit you have available, how you make your monthly payments, etc. It has nothing to do with your spouse's credit. That said, their poor credit may affect your ability, as a couple, to get the best rates on credit that you seek together, e.g. if you attempt to buy a house together. It wouldn't impact your personal credit, but it would impact the loan offer you receive.


What credit score is perfect credit and what score is considered bad credit?

Credit score that is around or more than 700 is considered to be good and score below 500 is considered to be bad. It is always advised to constantly monitor your credit score.


Can a spouse with good credit cosign a student loan for their spouse with bad credit?

That is decided by the LENDER.


Does your credit score affect your auto loan rate?

Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.


How bad is a 495 credit score?

i hate my score


What does a 499 credit score mean?

bad credit


Should you get a joint car loan if one spouse has better credit?

It depends on how bad the credit of the other spouse is. If their credit isn't at least decent, getting a joint loan will be based upon the FICO scores of both parties. You won't get to choose the higher score in order to get a good rate. So, it would be best to get separate financing until the spouse with the poor score improves their credit.


Will Bad Credit Affect My Cash Advance Request?

There is no need that you should have a good credit score to get a money advance. An undesirable credit score, including delinquencies, won't normally influence a cash advance.


Will bad credit rating of your spouse affect your qualification for a mortgage?

Not if you don't use your spouse on the application as a co applicant or "additional income". If you don't need their income, then leave them off and no, it should not affect.


Is a 689 credit score bad?

689 is a real good credit score! Congratulations!


Is 980 a bad score?

a credit sore of 980 does this mean, I have bad credit??


Is 577 a bad credit score?

577 is a fairly poor credit score. To have a credit score that is acceptable, you want your score to be between 620-680.


Is a 525 credit score bad?

Yes. It is bad.


What if you don't have any credit do you still have a credit score?

Yes you can have credit from before that might be a very bad credit score:(


Does your bad credit rating affect your children if they live at the same address?

no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan


When you get married does your credit reflect on your spouse?

To answer your question: No, the credit of one spouse will not effect the credit of the other in any way. The only time the credit of one spouse will effect that of the other is when both open a joint loan, or joint credit account, in which case those specific accounts will be reported to both of your credit histories. That's it! :o) Hope this answers your question. the last answer is correct. I would just like to add that as a stay at home mother with a husband with bad credit, I am severly affected. His bad credit is 6-10 years old, my credit is immaculate. We can not get a car or a house on credit, we have to pay cash for everything. we can not use my "perfect" credit because I do not work. We can not get approved jointly, and he can not get approved alone because of his horrible credit(even though he makes more than 100,000 a year). If you marry into bad credit it does not affect your score, but it may affect your life.