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What Happens When Partners Have Different Credit Scores?

  March 24, 2020  |    #Tools

What to know if you and your partner have different credit scores

Do you and your partner have similar or different credit scores? Does it matter, and what can you do about it? Find out on this Queer Money® podcast.

Hear how to improve your credit together:

Different credit scores can impact your life as a couple

On this episode of Queer Money®, we’re discussing what to do if you and your partner have significantly different credit scores. We start by explaining how scores in various ranges can impact your lives together and sharing how we approach the work of improving our financial lives as a team.

We also uncover the results of our Queer Money® Facebook Group poll on couples and credit scores, weighing in on why it’s important to have a dialogue of trust when it comes to money. Listen in for our top 5 tips for improving your credit score WITH your partner and learn how to work together to build a secure financial future!

Being able to talk about each other’s financial situation as individuals and where you want to go together financially as a couple is so important. -JohnClick To Tweet

Topics covered on different credit scores

Why significantly different credit scores matter for couples

  • May not qualify for an apartment, mortgage or credit cards
  • Impacts auto insurance premiums + cell phone contracts

The results of the Queer Money® poll on couples’ credit scores

  • 67% are in the same range as partner
  • 12% are in different but close ranges
  • 19% are in widely different ranges

What to do if you and your partner have very different scores

  1. Start dialogue of trust
  2. Order credit reports at least annually
  3. Take the Improve or Build Your Credit Score course together
  4. Get on a plan to pay bills on time
  5. Open joint credit card (or add a partner to existing card)

Resources for improving credit 

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