09/08/2021
𝙰𝚑𝚑𝚑𝚑𝚑 𝚖𝚎𝚛𝚛𝚛𝚠𝚠𝚒𝚍𝚐𝚎, 𝚎𝚟𝚎𝚛𝚕𝚊𝚜𝚝𝚒𝚗𝚐 𝚕𝚘𝚟𝚎 💟 A partner for life, a soulmate and someone to share your debt with. So romantic.
But for real, I had no idea that people wondered about this question or thought that by getting married, their credit would be impacted.
The short answer to this question is, no. By solidifying your love in a lifelong contract, your credit will not be impacted. Your credit score and report are pulled using YOUR social security number. There is no OUR credit report or credit score.
There are exceptions, but they technically don't have anything to do with marriage. If you and your spouse co-sign a loan together, yes, it will impact your score. If you add yourself as an authorized user to your spouse's card, yes, it will impact your score. If you pay off a credit card or lower or raise your credit utilization and happen to be simultaneously getting married, yes, it will impact your credit score.
These instances are for everyone though. Not just married couples. When you do any of these things mentioned at any time with anyone, your credit will be impacted.
As far as the sharing of the debt, I'm kind of kidding, kind of not. It totally depends on the situation and decisions made by the couple. I am married and have student loan debt, an auto loan and credit card debt. None of it is in my husband's name and he doesn't pay on any of it and vice versa. We actually don't even have a joint checking account. This truly baffles my parents, but whatever, it's our life. You do you.
So go ahead and plan that well-budgeted wedding that won't send your credit utilization spiraling out of control into the gutter! Mazel Tov!
