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If I get married with someone that has no credit...

Frequent Contributor

If I get married with someone that has no credit...

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.

Message 1 of 21
20 REPLIES
Senior Contributor

Re: If I get married with someone that has no credit...


JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


It will definitely impact you, unless you do not put her on any credit application. When it comes to a mortgage, they will most likely take the middle score of the person with the lesser credit score. That is at least how it worked for me in 2010. 

Message 2 of 21
Frequent Contributor

Re: If I get married with someone that has no credit...

A girl I like has never worked in her life and has no credit cards. Smiley Sad

Message 3 of 21
Senior Contributor

Re: If I get married with someone that has no credit...


JoshNurse wrote:

A girl I like has never worked in her life and has no credit cards. Smiley Sad


Sounds to me like you are in the perfect situation to guide her in the right direction from the start. Many of us here would kill for that opportunity. Plus, it could be a good talking point to get to know her better. Let's say, dinner and credit counseling? Smiley Very Happy

Message 4 of 21
Super Contributor

Re: If I get married with someone that has no credit...


JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


Now is the time to start helping to improve her credit before applying for the loan....Question 

You stated she has bad credit.....Do you mean she has baddies or she has no credit at all due to not working because if she has no baddies her credit can be improved quickly by adding her as AU. 

 

Edit 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 21
Frequent Contributor

Re: If I get married with someone that has no credit...

No baddies just no credit at all.

Message 6 of 21
Super Contributor

Re: If I get married with someone that has no credit...


JoshNurse wrote:

No baddies just no credit at all.


Add her as AU to your cards and six months from now she'll at least have some scores However Fico 08 IIRC does not count AU's but this is a good start for her to build credit

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 7 of 21
Senior Contributor

Re: If I get married with someone that has no credit...


JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?


No credit isn't bad credit (the latter would include derogs).  Price isn't affected by credit.  Financing is.  Including her with no credit on your mortgage will probably result in less favorable financing.  If you can qualify on your own then terms may be better.  However, you could take steps to build her credit.

Message 8 of 21
New Contributor

Re: If I get married with someone that has no credit...

OP, adding her as an AU and having her open a few cards should give her a decent score after 2 years. I'm at my current scores having started January of last year so if you play your cards right, she could end up with good scores and then you would hypothetically get the best terms
Age: 23
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Message 9 of 21
Regular Contributor

Re: If I get married with someone that has no credit...


myjourney wrote:

JoshNurse wrote:

Will her bad credit make me pay a much higher price for a house?

 

She does not have any credit cards and has never worked. I am not married and do not have a girlfriend. I just want to know what this is like.


Now is the time to start helping to improve her credit before applying for the loan....Question 

You stated she has bad credit.....Do you mean she has baddies or she has no credit at all due to not working because if she has no baddies her credit can be improved quickly by adding her as AU. 

 

Edit 


Now is the time, and by all means help her, but don't worry about it for yourself if you're not already planning on a life together. 

 

I'm on the flip side, by the way; my fiancee has great credit, but mine is only "fair to good." My goal is to have it excellent by the time we buy a house together. These are relationship things worth talking about, but down the line!


Gardening since May 2015
Starting Score: 585
Current Score: 709 EQ (MyFico) , 740 EX , 747 TU (Discover FICO)
Goal Score: 790


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Message 10 of 21