3 Ways Your Partner's Bad Credit Can Hurt You

Manage Your Credit For better or worse — that's what we say when we join our partner in marriage. Although it's not on the mind of many newlyweds, before the wedding, there should be a serious conversation regarding couples and credit. Sometimes, one partner with bad credit can negatively affect the couple's credit and cause a strain on the marriage.

If you have an open conversation with your partner on his or her credit, you may not know how it will impact you and your marriage until it's too late.

There are some telltale signs of bad financial management with any couple with bad credit. These signs include calls from bill collectors or one spouse has a "habit" with credit cards. When these signs appear, it's best to have an open conversation about finances.

If you avoid an open discussion with your spouse about credit, it may hurt you, your credit and possibly your marriage.


Consider these 3 ways your partner's bad credit can hurt you after you tie the knot:

Your Credit Score Can Plummet

When you and your spouse leave your wedding ceremony, you start sharing everything in your new life. This doesn't mean you will incur your spouse's debt right away, but as you begin looking at a joint bank account or planning joint purchases, your credit score could be affected.

For instance, if you had a credit score in the high 700s before your marriage, you, like other couples with credit issues, may see your score dip into the high 500s or lower.

Major Purchases Will Become a Challenge

As you and your partner set up joint accounts and consider making major purchases, such as a new home or a family vehicle, your partner's bad credit could, once again, rear its ugly head. Any type of purchase that relies on financing will become a challenge.

Since lenders base their decisions on credit scores, couples with bad credit could receive more rejections when looking for financing for things like a new home mortgage.

Future Plans and Dreams Might Need Some Rethinking

Most people have big plans and dreams for the future — this is especially true when a couple ties the knot. You want to share your life with your partner and build dreams together, right? If, along the way, you discover your spouse's bad credit history, those future plans and dreams may require a detour or some patience.

So, instead of a larger house, fancy vehicle or even owning land in a dream spot, you may need to rethink your plan or delay the pursuit of your dream.

In a marriage, you and your partner bring many things to the table — this includes your credit and financial history. To be responsible in your marriage and pay the bills, you must be open about the state of your finances and your spouse needs to be open about his or her financial information. Don't start with a stressful marriage — couples and credit is a topic to be discussed before you plan the details of your wedding and what flavor cake you will have at your reception.


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