Your credit report details your financial history as reported to credit bureaus by past and current lenders. Credit bureaus apply a score based on your lending history and potential creditors use the score to determine your creditworthiness. How marriage influences your credit history and score depends whether you plan to merge accounts, jointly acquired debts and state laws.
Facts
There are no joint or combined credit reports. Each report lists an individual's separate lending history regardless of marital status. However, how you combine your finances after marriage may affect both credit reports. When this happens, one spouse's credit score may drop or increase depending on the other spouse's credit history and current financial situation.
Joint Accounts
Applying for or opening joint loans or credit cards reflects on both credit reports. Adding your husband to an account or being added to one of his also changes your credit report. Additionally, the Fair Isaac Corporation credit scoring model treats authorized users on credit cards the same as account holders. Generally, authorized user status does not make you liable for the debt as you didn't enter into a contract, but account usage will affect your score.
Community Property
If you live in a community property state, you and your husband are both responsible for debts and assets designated as "community property." Generally, community property laws do not apply to debts and assets acquired before you married. Community property does not combine your credit histories, but it may affect future lending.
Obtaining Credit
Normally, creditors only use the applicant's credit information when deciding loan or credit card approval. Some large loans such as mortgages may require access to both credit reports prior to lending. If you live in a community property state, creditors may request both credit reports prior to lending and both scores determine loan rates. Lenders commonly check both credit reports for loans when both incomes are used on the application.
Considerations
If your credit is less than favorable while your husband has stellar credit, adding your name to a loan or credit card in good standing often improves your credit history. Adversely, if you add your husband to an account or allow him authorized user status on a credit card with a poor repayment history or a high balance compared to the available credit, his credit score may drop.
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