Does Marriage Wipe Out Credit History?

Couples face many financial changes when they get married. They might join their checking and savings accounts and make large purchases together. While a couple's finances join after marriage, their credit scores do not. Since credit scores depend on an individual's credit history, that rating does not change simply because the individual says, "I do." Marriage is not a get-out-of-jail-free card for bad credit.

Credit Score

When a married couple makes a purchase together, whether it's a house or a car, their lender will check the credit of both spouses. If the husband has a poor credit score and the wife has a high one, he cannot use her credit score when making a purchase. The lender will take into account both credit scores when determining whether the couple will receive a loan.

Impact of Bad Credit History

A bad credit history can lead to credit problems in a marriage. If both spouses suffer from bad credit scores, they might struggle to make common early marriage purchases, such as a home. This inability to start their lives on the right foot can lead to stress in the marriage. If one spouse suffers from the bad credit of the other spouse, this can often lead to resentment, as the spouse with good credit effectively marries into a bad financial situation.

Ways to Wipe Out Bad Credit

Although marriage is not a way to wipe out a bad credit history, there are other methods couples can use to improve one or both credit scores. The most immediate way to improve credit is to start paying bills on time and, if possible, paying more than the minimum amount to reduce debt quickly. Time also heals bad credit scores, so if the couple has the funds to stay up-to-date on bill payments, they will watch as they credit scores steadily increase.

Credit Risks in Marriage

In a marriage where one spouse has a lower credit score, the couple might be better off keeping their credit cards separate. For example, if the husband with good credit adds his wife with bad credit as an authorized user on his credit card, then he assumes her credit history and any poor credit decisions she makes using the card. The husband can keep his credit score high, which is particularly important when his wife's score is low, by keeping their credit cards separate.