Married Couples: Save Your Credit

After marriage many couples want to get everything in each other’s names and they want to share everything. Well, at least the women do. Yet, what the woman wants in the beginning of the marriage is usually what she gets. Cars end up in both names, credit cards end up having both names, and the new home ends up with both of their names on the title. In many states the man is the only one recognized of the two no matter what (whether both names are on it or just his). However, when thinking about keeping your credit in good standards you must think ahead.

First thing to do is leave everything in your own name. In other words, do not include your spouse on your credit cards, do not include your spouse on the title of your house, and do not buy a car together. Men should keep their own property and women should keep theirs.

Reason for separation is because the woman will lose her identity first and foremost. Even if she continues to pay for what she thought was her car it somehow became his car and it was really suppose to belong to both the man and woman. Women, be sure to keep everything you had before marriage in your name. If you own the home keep it in your name. The state will recognize the marriage if something happens to the wife and it will go to the husband. Men if you have credit cards and other items leave them only in your name for the sake of credit.

Another reason behind my suggestion is not only to keep independence but also if one of the spouses loses their job and cannot afford to pay the credit card bills since they choose to keep paying for their car then you will still be able to buy things down the road under your spouses name. In other words, while one of you loses points on your credit report due to non-payment for various items at least the spouse will be able to remain in good standings and afford to pay their bills. This will allow you to still be able to get what you need on the spouses credit instead of both of you going down unable to use credit cards and losing either the house or car or maybe even both.