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Thread: newb credit question

  1. Regular Member
    KelseyDana's Avatar
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    #1

    newb credit question

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    Ok, so I don't really have any credit. I've never had a credit card, taken out a loan, anything like that, other than renting my apartment. My boyfriend doesn't have a credit card either, but he does have some credit from making payments on my ring. His bank also set him up with an account where he's borrowing $500 from the bank and paying it off while they hold $500 of his money for a year, and then they'll give back his $1000 in october, when the year is up.
    My apartment complex required a credit check, but allowed me to rent the apartment because I'm a student and the apartment is in a college town.
    So my question is, when he and I get hitched (in december), will my lack of credit affect the small amount of good credit that he's incurred, once we're married?? And if I get a credit card now and pay it off as I go, will the good credit I'd have incurred by then have a positive affect on our credit as a couple, or will it not make that much of a difference?
    Also, do the apartments near the bases require good credit, or are they similar to my current complex, where as long as theres no bad spots on your credit report they'll lease to you?
    Sorry for all the questions, hahaha. And thanks for the help in advance!!
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    #2
    it will not effect his credit at all.

    if you want to build credit, getting a visa or master card with a low limit is a way to start.

    or getting a store card and then later getting a visa or master card -

    however if you are not working you cannot get a credit card with just a student status anymore.
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    #3
    will our credit be combined when we're married?
    I have 2 jobs right now so I wont have to worry about that requirement
  4. was ncgirl
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    #4
    Quote Originally Posted by KelseyDana View Post
    will our credit be combined when we're married?
    I have 2 jobs right now so I wont have to worry about that requirement
    no, your credit will not be combined. It is done by social security number, which does not change when you get married in any way.

    You two will most likely be on things together, like a lease, and if there was a problem it would go against both or your credit scores. But that's as far as it goes and would be the same for anyone else co-signed on anything.


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    #5
    Quote Originally Posted by KelseyDana View Post
    will our credit be combined when we're married?
    I have 2 jobs right now so I wont have to worry about that requirement
    I agree that now is the time to start building each of your credit scores. The suggested low limit visa/mastercard is a nice way to do that. Even though we all have our own score at some point (for a big purchase like a home), it will probably be important that both of your scores are good, so work it!
    J.J. Montanaro is a CERTIFIED FINANCIAL PLANNER practicioner with USAA Financial Planning Services one of the USAA family of companies.
  6. MilitarySOS Jewel
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    #6
    Hi!

    Your credit won't change his score when you get hitched.

    Years ago, to build credit, we went to Orchard Bank, you can apply online. It's a secured credit card,w hich means you give them $100-200 bucks and they give you a card. So it's your money to begin with. Keep a low balance on it, like use it for gas once a month and pay it off completely every month. This is a great way to develop a solid line of credit. Another easy card to get is Premier, I think that one was secured, too.

    The most important part about building credit, for us, was to NOT keep the card in a wallet. Take it out for the purpose of buying one $10-20 thing a month, then stick it back in the drawer. Outta sight, outta mind.

    Good luck!!

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    #7
    I know a lot of apartments near the bases we've been to don't even require a credit check if you're military. Our complex just saw our military ids and approved us. That might not be the same everywhere though, so I wouldn't rely on it. Building a bit of credit is always a good thing. I got a Kohl's credit card because they send out coupons for cardholders, so I ended up saving money by having a card with them. I just pay it off completely every month. DH and I are young and had no problem getting an auto loan, being approved for our apartment, or being approved for anything we've applied for. I think building good credit is easier than it seems. I think that even having your own cell phone plan can help out.
    I'm certainly not an expert on credit, but we've had no issues so far.


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    #8
    I couldn't get a credit card ANYWHERE when I had no credit. I had a really hard time, but then when DH and I got hitched a little over a year ago and I switched to USAA, I got their student card with no problems.
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    #9
    Just be careful that the card doesn't become your "oh I'll use it just this once" card. I did that and now I'm paying back debt on stuff I never needed. I would be wary before signing up for any credit card. Make sure you pay it every month.
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    #10
    Quote Originally Posted by roxieluvs View Post
    Just be careful that the card doesn't become your "oh I'll use it just this once" card. I did that and now I'm paying back debt on stuff I never needed. I would be wary before signing up for any credit card. Make sure you pay it every month.
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