Marriage and preserving good credit rating

supersezzie

Hi folks,

I'm asking this in anticipation of the future. I have an excellent credit rating but my partner doesn't. If we get married, will my credit be affected? How can I protect my credit rating? We wouldn't need or plan to open joint accounts or joint loans, but potentially may need to sign a joint tenancy agreement.

Thanks!

Arleen

While just getting married will not link your files, the moment you will get a joint item reported on your files the link will be made. There is a fine article about it on experian http://www.experian.com/blogs/ask-experian/credit-education/life-events/marriage-and-credit/

But if you don't want to have a financial link it may not be as easy after marriage, as they always ask about your partnership status and responding "married" may drive the potential lender to insist on joint application. So while in short term your file will be fine, I would start working on fixing your future wifes credit file ASAP as in practice it's hard to keep them separate over long period of time.

Oh and credit rating is meaningless, it's what on the file that matters. So if you will pardon me prying, how bad is it? Defaults? Late payments?