Does Getting Married Affect Your Credit Score? We Spoke to Experts to Find Out

You probably discussed your personal finances before getting married and vowing to love each other in sickness and in health and for richer or for poorer. While you may have chatted about your salaries, savings, investments and even discussed debt, you may have skipped over an important number that can affect your joint financial goals: your credit score. After you both share your credit scores, you might have some questions. Does getting married affect your credit score? Do your credit scores combine? Does your spouse's credit score affect yours? We spoke to experts to find out what happens to your credit score when you get married.

In this article:

• Understanding Your Credit Score
• What Happens to Your Credit Score When You Get Married?
• When You Get Married, Does Your Credit Score Combine?
• What if One of You Has a "Bad" Credit Score?
• How Do Your Credit Scores Impact Loans and Mortgages?
• How to Improve Your Credit Score as a Couple

Understanding Your Credit Score

Before we get into whether your credit score changes when you get married, here's a quick overview. You can consider this Credit Score 101.

What is a Credit Score?

Lenders use your credit score to determine whether you are likely to repay borrowed money, like loans and credit card charges, on time. "Think of it as your financial report card, except instead of A's and B's, you get a number that usually ranges from 300 to 850," says Courtney Alev, a consumer financial advocate at Intuit Credit Karma. The higher your score, the more likely it is that you'll be approved for loans like a mortgage, auto loan and credit card and get better interest rates.

Who Determines Your Credit Score?

When you apply for a loan, the lender sends your credit report, which details your credit activity and history, to three credit bureaus. Each bureau evaluates your credit report and determines your credit score. (FYI: You don't actually have one credit score, you have a different score at each bureau.) The credit bureaus send your credit score and report back to the lender and the lender uses it to decide whether they want to offer you a loan and the terms.

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How is Your Credit Score Determined?

So, how do the credit bureaus get to your number? "Your credit score is calculated based on several factors, including your payment history (whether you've paid your bills on time), credit utilization (how much of your available credit you're using), length of credit history (how long your accounts have been open), credit mix (the variety of credit types you have, like loans and credit cards) and new credit inquiries (how often you apply for new credit)," says Alev. While every factor carries weight, she explains that the most significant things you can do to maintain and improve your credit score are to have a low credit card balance and pay your bills on time.

What Are the Credit Score Ranges? What is "Good" or "Bad"?

There are different ranges for the various types of credit score, but they typically range from 300 to 800. The FICO score range is:

• Exceptional: 800 and up
• Very good: 740-799
• Good: 670-739
• Fair: 580-699
• Poor: Less than 580

What Happens to Your Credit Score When You Get Married?

Let's dispel a myth about marriage and credit scores. "Your credit score does not merge with your partner's when you get married, though this is a common misconception. Each person maintains their own individual credit report and score," says Alev. So, no, you don't get an average of your two credit scores or get to choose the highest of the two.

When You Get Married, Does Your Credit Score Combine?

You may be wondering what happens if you decide to combine your finances and open a joint account and credit card or make your partner an authorized user on your credit card. "When you get married you still maintain your own individual credit scores. Though, if you have joint accounts or your spouse becomes an authorized user on your card, that will affect both of your scores," says Ashley Feinstein Gerstley, a certified financial planner, author and founder of the money coaching firm The Fiscal Femme. The activity in your joint account or your partner's purchases on your card will show up on your credit report, per Alev. "This is one of many reasons to stay aligned on your financial habits and responsibilities as a couple and continue to have open conversations around your finances," she says.

Since your joint financial decisions impact your day-to-day life and your credit scores, it's important to make sure your financial goals and values are aligned. Many financial experts suggest adding money dates to your calendar, which is really just a fancy way of saying that you should regularly talk about money. Whether you grab snacks and have a weekly money date or you have a monthly convo as you're paying bills, there are some essential topics to have on the agenda. Most importantly, chat about your budget, spending and progress toward long- and short-term financial goals like buying a house or planning a well-deserved romantic getaway. Oh and bonus, these money dates can help you stay on the same page and limit money fights.

What if One of You Has a "Bad" Credit Score?

Your spouse's credit score won't ding yours, and keep in mind that credit scores aren't set in stone. You and your spouse can make financial decisions that will boost your respective credit scores. "If your spouse has a 'bad' credit score, it won't directly affect your own credit score, and your credit histories remain separate, even after marriage. The biggest thing your spouse can do to remedy a 'bad' credit score is to identify the source that is causing the problem," says Alev. "Ensuring that they identify and rectify the problem affecting their score will help them strengthen it going forward," she adds.

How Do Your Credit Scores Impact Loans and Mortgages?

Lenders use your credit score to determine how likely it is that you will make your payments on time and in full. If you're applying for a loan or credit card together, lenders will consider both of your scores. "When it comes to being approved for a loan, whether it's for a car or a house, some lenders might have a minimum credit score requirement, in which case, you will need to meet the minimum to be approved in the first place. Additionally, a higher credit score may give you access to larger loan amounts and more favorable terms, such as lower down payment requirements, longer repayment periods, and fewer fees and penalties," says Alev.

How to Improve Your Credit Score as a Couple

Whether you have weekly or monthly money dates or just have open and honest money convos whenever they arise, you have the tools to help you both increase your respective credit scores so it's easier for you to reach your financial goals together. Alev shares three actionable ways you can improve your credit scores:

Make your credit card payments on time and in full

Alev says this is the best way you can increase or maintain your credit score. "Many people overuse credit cards and accrue a balance they're not able to pay off in full at the end of the month, resulting in a low credit score and high interest fees," she says. If you both have multiple credit cards, avoid having payments slip through the cracks and consider setting up automatic payments. Are there instances when you make big payments–like airfare and hotels for a romantic getaway–but you can't cover it just yet? "Before you use a credit card, ask yourself if you can do so responsibly. If you find yourself over-relying on credit, stick to debit cards or cash until you get your spending in check," she says.

Keep your credit utilization rate in check

Your credit card utilization rate is the percentage of your total available credit limit that you're using each month. "It's recommended that you keep your credit usage under 30%, as having a high credit utilization ratio shows that you're close to maxing out your credit cards, and can significantly lower your credit score," says Alev. If you find that you are regularly spending above the 30% mark, you can request a credit limit. "This approach could require a hard credit inquiry, which can drop your credit score a few points temporarily. If increasing your credit limit is only going to tempt you to overspend, then stick to your current limit and make multiple payments each month to keep your balance low," she says.

Pay off your loans

Another way to increase your credit score is to continue to chip away at debt. If your partner came into your marriage with student loans, a mortgage or other debts, it won't impact your credit score–but it can affect your finances. "Their student loans, credit card balances or mortgage stay on their credit report. However, if you decide to take on any new debt together, like a joint loan or mortgage, your partner's credit history could affect whether you qualify, and at what interest rate," says Alev. If you took out a mortgage to buy your house or an auto loan to buy a minivan once you became a family of five, focus on making your payments on time and in full.