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Wife and I's credit scores different questions
Posted on 12/8/16 at 2:39 pm
Posted on 12/8/16 at 2:39 pm
Applied for a new loan for a rental property and found out my credit score is 770 and my wife's 712, I thought that we were both jointly on everything? Outside of the obvious that she is either not equally on something or that she has something dragging her down, is there any other reasons that if you are on all accounts jointly that they could be different? If she was above 750 I wouldn't care but this may prevent me from getting the best rates.
ETA: We've been married 7 years so our credit history should not be affected by anything pre marriage.
ETA: We've been married 7 years so our credit history should not be affected by anything pre marriage.
This post was edited on 12/8/16 at 2:41 pm
4
Posted on 12/8/16 at 2:42 pm to baldona
Have you compared the reports side by side? There are bound to be some differences. If you have an overall deeper history than her then that could be part of the reason.
Posted on 12/8/16 at 3:12 pm to baldona
quote:
my credit score is 770 and my wife's 712
There is probably not any derogatories on either with that score. I'm wondering if perhaps a couple of accounts are listed on your report that are not on hers.
Get free copies of your reports and compare side by side
Posted on 12/8/16 at 3:12 pm to baldona
Authorized users on credit cards don't get the credit boost of the account holder any more.
Seems that a credit repair boost used to be a high credit score individual selling access to being an authorized user to someone with a lower score and letting them piggyback. The banks closed this loophole down. Authorized users show up, but th benefits are not there.
My wife and I are similar, but reverse. She's at 752 and I am at 714. Main difference - the main card that we use and payoff every month is an AMEX in her name with me as an authorized user.
Seems that a credit repair boost used to be a high credit score individual selling access to being an authorized user to someone with a lower score and letting them piggyback. The banks closed this loophole down. Authorized users show up, but th benefits are not there.
My wife and I are similar, but reverse. She's at 752 and I am at 714. Main difference - the main card that we use and payoff every month is an AMEX in her name with me as an authorized user.
This post was edited on 12/8/16 at 3:14 pm
Posted on 12/8/16 at 4:27 pm to anc
quote:
Authorized users on credit cards don't get the credit boost of the account holder any more.
That's probably what it is then. We are going to look tonight, I just thought I'd ask first. I haven't got a new CC in like 5 years, so are Credit Cards only 1 account holder even if you are married and 1 authorized user?
So the average is 741 so I probably don't want to have one in her name and one in mine because that's below 760 which is the bottom of the best score right? Not that it seems to matter.
It turned out that it didn't matter I had our rates ran with both scores to check.
Posted on 12/8/16 at 5:24 pm to baldona
They would count in both of your scores if you were joint holders (which isn't too common on credit cards anymore). If one holder and one authorized user, only the holder would get the bump (or the punishment)
Posted on 12/8/16 at 9:42 pm to baldona
quote:
ETA: We've been married 7 years so our credit history should not be affected by anything pre marriage.
Accounts in good standing can stay on your report longer than 7 years. Derogatory marks must be removed after 7 years. Like someone else said, it could be that your credit history or average age of accounts is longer than her's. That's actually a pretty big part of the FICO scoring model.
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