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If you trying to buy a house together, yes, his credit will be taken into consideration and you may have to pay a higher mortgage rate. If you are trying to buy anything together because you need to consider his salary you may have problems. But just cause you are married to him does't automatically affect your credit. But he could potentially harm your credit if he defaults on any loans while you are married. Being married alone makes you accountable for what he does during your marriage in many cases.

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โˆ™ 2005-09-29 13:59:28
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Q: When you get married and you have good credit and your spouse has bad credit does your spouse affect your credit at all?
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Can a spouse with good credit cosign a student loan for their spouse with bad credit?

That is decided by the LENDER.

If your spouse cosigns a loan for their child from a previous marriage will you have any personal obligation for the debt or will it affect your credit rating?

*The point is they are married and although it won't affect her credit rating if her husband is stuck with this loan it will reflect on both of them as far as possibly putting them into debt. If your spouse just cosigned then yes, they are responsible for that debt if their child decides not to pay. If the child does pay the payments then there should be no problem. Cosigning is never a good idea even if it is family because the cosigner is 100% responsible for that debt. * The non signing spouse would not be responsible for the debt nor would it affect his or her credit rating with perhaps the exception of applying for joint credit. Even if the married couple live in a community property state under such circumstances a spouse would not be responsible for the other's financial obligation that involved children of a previous marriage.

How credit card affect the society?

when credit card is not good

If your spouse purchased a truck by himself without your knowledge or signature does it still affect your credit if you are legally married?

Only if you get divorced and he requires you pay half in court or if he calls the finance company and requests to have the history of payments added to your credit report( this can be a good thing to those who need instant credit, and bad to those who don't want to get involved in the payments due to negative history).

Can your spouse assume your deceased parent's mortgage?

If your spouse has a good credit record that lender should approve. However, you will need to discuss it with the lender.

If you are married and your spouse has bad credit can you apply for a home mortgage on your own?

Sure, as long as your credit is good and you make enough/have enough assets to qualify for the mortgage. Again, the legalities that apply in one state, may not apply in another state. It will be wise to check it out first.

What lenders will give a 'close to prime' auto loan rate if one has good credit but their spouse has bad credit?

Only the lender can answer this.

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.

Do You need a cosigner if your married?

Having a cosigner has nothing to do with your marital status. It's all about your credit. If you do need a cosigner for lets say a car loan, then it's better to have your spouse sign than ask a relative/friend to sign. Unless your spouses' credit is bad, then you have to look into a person who has good credit. Hope this helps!

Will your credit history affect your application for a virgin money credit card?

Yes it will affect your chances for a virgin money credit card. This will happen becasue for any credit card that you are applying to you need a good enough credit score to qualify.

How do you add your spouse to your mortgage deed?

You will have to ask your banker. You can't always. The spouse's credit may not be good enough.

What happens if you marry a person with bad credit?

When you marry, you become ONE, therefore what's his/hers is yours and what's yours is his/hers. That includes a bad credit report. On the brighter side, bad credit can be corrected (usually within 7 years your record is wiped clean if you maintain accounts). Good luck. The first answer is incorrect. Each person with a Social Security number can establish credit in his or her name. State law governs whether one spouse can be held accountable for debts the other spouse incurred while married. (Community property / community debt states. Debts before the marriage are not factored in. Your bad credit doesn't affect your spouse at all--unless you co-sign on loans or co-apply. Kyla is correct - your credit can NOT be affected by a spouse's credit unless you have co-signed a loan, open a joint account, file for a joint bankruptcy, or a tax lien is placed on a joint tax return.

Will closing lines of credit affect your credit score if you have no debt?

How can you have "good credit"???????? IF you don't have any "credit". Closed accounts are CLOSED, NOT AVAILABLE, ONCE HAD, IN THE PAST, NOT CURRENT CREDIT, ETC.

Can i buy a car in my name only if i am married?

no u have to hav good credit

Would closing a credit card damage my credit score?

Yes closing a credit card can damage your credit score. But as long as everything else is good it should not affect you credit rating to much. Look for tips to keep a good credit card rating.

Will a co-signor with good credit help improve a cosignee's credit score?

probably if they're a married couple

What are your options if your husband died and there is no money to pay off credit cards?

A deceased person's debts and assets are handled according to the probate laws of the state where the person resided. If the married couple resided in a community property state the surviving spouse may be responsible for debts of the deceased spouse even if said debts were solely made. If the married couple resided in a non community property state the surviving spouse is not responsible for debts solely incurred by the deceased spouse. If he was the only signer, then you need to talk to the lender and find out where to send a "certified death certificate". This should take care of the account as the lender will show this as a loss. If you are signed on the application with him--then you have 2 options. 1. You will have to pay, as the accounts will have to be paid off or it will affect your credit; or 2. you file bankruptcy because you do not have the capacity to pay the accounts. I am sorry for your loss--good luck.

If someone at your address has a bad credit rating will it affect you?

It will not affect your financial status. However, if you are dependent on their being on time with their share of the rent payments, chances are good that you will be stiffed at some point. If you are married, the bad rating will affect your ability to borrow money as well as the rates you are offered.

What is married life?

Married life is life with a spouse that you have legally married in whichever way. Married life is full of its challenges as well as some good times. Most people who are not content with married life seek a divorce.

If you authorize someone else to use your credit card and that person does not have good credit does that affect your credit score?

No they don't care, so long as the expenses on your credit card are paid.

Will having a credit card with a high limit affect your ability to get a loan?

if you obtain a credit card with a high limit it will not affect your credit as long as the card is in good standings .. however if the card is maxed out it could affect your credit score wich will intern stop you from getting a loan. although it may not stop you from getting your loan but it will affect your interst rates

Will i establish credit in a joint account?

== {| |- | Joint credit cards can work both ways. Since the credit card account is placed on both holders' credit accounts, the activity on the card as a whole affects both parties equally. So, if the card is maintained properly, it can help improve credit. However, if one of the card holders abuses the card and ranks up thousands of dollars in debt, it can adversely affect the other holder's credit rating. == Yes. Both good and bad. If you screw up, it will affect your partners credit and vice versa. A good idea for married couples is to keep a joint account, but also each of you keep your own individual account. If you are not married and getting a joint account with someone to establish credit, don't do it. You don't need to do this, and shouldn't. |}

How do STDs affect the family?

Sexually transmitted disease can be transferred to spouse. Once the spouse detects the cause of the disease, the result are almost always disastrous. It is always better to be faithful with the spouse. That is good in the interest of the family, society and religion.

How do insufficient funds affect your credit?

The way you deal with your checking account can affect your credit report. If you bounce checks your credit rating will go down making loans and credit harder to get. If you have always tried hard to keep your credit in good shape then I am sure you know all the dos and don

Is Lisa Roberton married to Lee Greenwood?

No, she said last night, It was a good thing she wasn't married because she wouldn't want her spouse to see her charge cards.