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Yes! credit score does matter in your life. If you have good credit score, your life will go very smoothly, as you can borrow money easily, get job without any hassle, rent or secure loan from lender. On the other hand, a bad credit score can ruin your personal life equally. Suppose your partner has very low credit score and he or she cannot turn into as fair as your expectation for a certain span of time. And that will literally drive you crazy. But, having a bad credit score doesn't always mean that your partner is irresponsible or reckless towards money.

Credit score can not be a mirror of a person's character

Credit score can drop for many reasons. A divorce, sudden emergency, unemployment can ditch your credit score and you may undergo a bad financial phase. But if your spouse is serious or responsible in nature, then I can assure you that he/she can overcome the financial crisis and can set up a good credit score again. This may take certain time so it is advisable that have patience if you are facing financial crisis and don't think that your spouse is not responsible for the time being.

Credit score does not represent a person's present or future behaviour

Many people were not responsible with money at their teen age or youth. The reasons are many such as they were too young to understand the value of money or they never learned about the importance of money or how to manage money responsibly from their school or parents. They stopped making money mistakes as they grew up. So, if your partner has a bad credit score, then that doesn't convey that he/she is an irresponsible person. It is always possible that he /she is presently doing great with the credit score and contributing to 401(k) on a regular basis and also trying to clean up the past mistakes.

Understand your partner's financial personality

You can easily understand your partner's attitude towards money by his/her some basic habits or comments. You can easily understand how much both of you are financially compatible. If your partner is always fascinated by brand and have a habit of living beyond means such as frequent expensive dine out, riding an highly expensive car then he/ she might be not be much concerned about the value of hard earned money. On the other hand, if you find your partner consistently maintains balance between your lifestyle and savings, then that means he /she is very much familiar of our present economic situation and can handle money responsibly.

Be aware of identity theft

Identity theft can happen to anyone and anytime. Sometimes, it can happen for your carelessness or sometimes you can not protect your personal data as you should provide them at various place and circumstances. So, never mark your partner as a criminal if he/she became a victim of identity theft. Scammers, hackers, unfaithful friend and relative can cause identity theft and also hamper the credit score simultaneously.

Credit score may get complicated

Practicing disciplined money habits is much easier than understanding credit score. You might have no credit history if you're using cash for every purchase or never borrows a loan. Thus the lender may think twice before lending you money as there are no sign if you're a responsible person. As per the credit bureaus, credit score may suffer if anyone never uses credit. Your credit report must prove that you paid back your mortgage or auto loan timely otherwise your credit score will ditch you. Many of us are not aware that too many loan applications for a long time can make credit score low. Moreover, several enquiries for obtaining a loan can affect credit score. So, sometimes, mistakes can be the prime reason behind your partner's bad credit score. So a proper knowledge can improve the credit score.

Think positive that you can rebuild your score better than before

Do not think negatively that you can't change your financial future. Bad credit score can be rebuilt again if you put some extra effort. Sit with your partner and discuss thoroughly about the financial situation and set a goal. Think like it is now or never. Trim both of your spending habits. Try to use less of your left credit, reduce extra cost and try to pay bills on time. It will help to improve credit with time.

With proper help you can
  • Lower your monthly payments
  • Reduce credit card interest rates
  • Waive late fees
  • Reduce collection calls
  • Avoid bankruptcy
  • Have only one monthly payment
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