Understanding How Credit Works for Married Couples

Do you know how your credit works for married couples? Not many married couples realize how credit works after they’ve said their "I do's," which can lead to some confusion and frustration down the line. The following is an essential guide that will help you understand the basics in regards to how credit works for married couples.

How Does Credit Work for Married Couples vs. Single People? What You Need to Know

The primary difference in how credit works for married couples versus single individuals is that there is an additional person involved in the credit. This additional person is responsible for shared credit, which includes both spending credit and being responsible for any debt as the result of spending credit. While this does mean that there are often two incomes now working towards paying off credit, it also means that both parties are legally responsible for credit financials - even if only one party is technically responsible ...