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It can, if you manage it properly. It can also bring them both down if you don't.
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∙ 16y ago
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Do joint credit card help both credit scores?
Yes but it will also hurt both credit scores if the payments are not on time.
Does a bank have to dislcose both parties credit scores?
A bank is not required to disclose both parties' credit scores. They are, however, required to give a notice which states why they deny credit or the opening of an account.
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.
Does your credit score combine after marriage?
I'm pretty sure that your credit is determined by both of your credit scores, but im sure it doesnt combine.
Are primary and co applicants the same thing in credit situations?
The primary and co applicants both have the credit attached to their credit scores. They are also both legally responsible for the debt incurred.
Does a mortgage show up on both borrowers credit report?
If the account is a joint account (bill comes in both of your names), then yes, it will be reported to both of your credit reports.
If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?
Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.
What is a joint loan?
A joint loan is when both individuals are fully responsible for a loan and it will report on both individual's credit bureau. So if both individual don't make a payment or does not pay enough of the monthly payment it will report on both credit bureau files as a late payment.
What was Henry's clay compromise?
There are some store credit cards that are now offering free credit scores to customers. Both Sears and Home Depot offer this service and it is updated once per month. This is handy for customers who want to track their credit scores.
If you have bad credit but your fiance has good credit how will you be affected when applying for a mortgage loan?
Yes, if both people apply for a joint loan, both credit reports will be used to determine the elgibility of the borrowers.
How much credit card debt should I transfer to my spouse to improve both of our credit scores?
none. how does putting your spouse in your debt help their score?
Whose credit score is used on a joint mortgage?
Both persons if it is applicable. In some cases a married couple will hold a joint mortgage but only the wage earner will have a credit score on record.
