| I have bad credit and my fiancee doesnt |
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elpasodan23
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 10 Sep 2005
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| I have bad credit and my fiancee doesnt |
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Im wondering if someone could plz help me answer this question. My credit is really bad and if i get married will my wifes stay the same or go down because of mine.
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Sat Sep 10, 2005 4:41 am |
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Rolo
Yo' Daddy
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Joined: 13 Mar 2005
Location: Colorado/Florida
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Welcome, Dan!
I am not an expert on this particular question and I look forward to others' responses since I am in a similar situation (my new wife's credit sucks).
I have not had a problem with this since she is not on any of my accounts (only an authorised user on my credit cards, no joint accounts), therefore her credit worthiness is irrelevant. I have since bought another house and another car, so trust what I'm sayin'.
I assume it would be relevant when you apply for something jointly since they will look at your credit as well as hers. Her credit score will not decrease.
"Expect me when you see me."
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Sat Sep 10, 2005 9:00 pm |
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bong12187
Preferred Member
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Joined: 31 Jul 2005
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It will stays the same. However, it will also depends on time...
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Sun Sep 11, 2005 4:12 am |
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sayyes
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Location: Newport, RI
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YOUR credit score will not change. However, if you were to apply for a mortgage it might be better if you (and only you) applied for the loan. I've seen several cases where having someone with bad credit on the loan increases the rate.
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Mon Sep 12, 2005 1:48 am |
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grantchen
Member
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Joined: 26 Aug 2005
Location: usa
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It should be the same. If she is going to apply for a second card for you in her account, her score won't be affected as long as you use that card carefully and she makes the payment on time.
You will definitely get a higher interest rate if you and your wife apply for a mortgage as a borrower and coborrower. It's better to let her be the only borrower. However, sometime a borrower's income is too low to be qualified for a loan, so he needs a coborrower to increase the total income to be qualified even though the coborrower's credit is not good. Or, another alternative is letting the one with a good credit score applies the loan, and goes for Stated Income program, which doesn't verify borrower's income.
Grant Chen
http://www.keytomortgage.com
KeyToMortgage.Com provides mortgage seekers with FREE mortgage guides, latest mortgage news, mortgage resources and tools to help them go through the mortgage jungle.
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Tue Sep 13, 2005 2:41 am |
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