Who is More Credit Savvy: Men or Women?
This segment of Credit FYI is brought to you by FreeScore.com.
Angela sent us the following question: my husband handles most of the finances. Does my credit score matter? Well let me tell you, marrying wisely is about making sure that your better half is truly a better half when it comes to your credit score. A recent poll suggested that women know less about credit than men. Ladies, listen up. This is really important stuff when it comes to your credit score and your credit report. As half a couple, your credit score matters if you're applying for a loan together. IF one partner has a good credit score and the other has a bad credit score, that's going to affect the interest rates that you'll be getting on loans. So therefore, you might want to think about applying for a loan in the stronger person's name. However, I must caution you. If you were to get divorced, the person who's name is on the loan is the one that's going to be saddled with the debt, so be aware of that. The other thing is that with couples, you want to make sure that you're dividing up your credit, because if one person maintains all the credit, the other person's credit history could go away. If you were then to be left on your own, either through death or divorce, you're going to be faced with having to rebuild your credit. So even if you're in a happy relationship, make sure that you're taking care of your own credit report. The bottom line from Credit FYI is that even if you're in a committed relationship make sure to make a commitment to your credit score.
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Duration: 2 minutes
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