Does Getting Engaged Impact Credit Scores? – Episode #26

Getting engaged doesn’t impact credit scores directly, but once two people start building a life together their credit starts to get intertwined. Although, credit scores don’t merge — you keep your 3 FICO scores and he/she keeps his/hers — your credit scores start to feel the other person’s credit behavior. By sharing credit scores and personal finance goals, you can really create a path together. Being engaged is a time to really open up about credit and personal finance and set goals for your credit score. Now, is the time for full disclosure of all your financial information. One of the big problems is what’s called “financial infidelity”. Many couples don’t share all their finances. They hide purchases from each other or worse hide accounts or credit card statements. This is no way to start a marriage.

While your engagement might seem hectic with the wedding planning, this is a good time to do some financial discussion around what goals you want to achieve together. You can learn more about credit scores behave in marriage in the next episode.

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• Does Getting Engaged Impact Credit Scores? – Episode #26
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