I have been doing some more extensive research with regards credit history, not only to see how to improve my own, but in an attempt to see what gives you a negative effect. For me this month my credit score has risen by over forty points which is great news, but it has been hard work!
Now I bet your wondering why on earth am I talking about credit history when my post title is clearly about how well you know your Partner, well I have recently come across some really useful information collated by Clearscore. Amazingly despite separation from an ex you can remain financially linked for six years, even if you have settled any joint debt!
I know it should not factor in you decision making when looking for love, but it really is worth having a discussion once you have started to settle down, after all we all end up chatting about ex’s at one point or another! I think its really important to check both of your credit history prior to making any applications for credit, whether that be mortgage, loan or a simple credit card! As there is nothing worse than being turned down on any application you may make, along with that failed application further impacting upon your score.
I was quite surprised with some of the facts and figures I have found, such as 60% of credit card applications are rejected – source Total Money. To be honest, I was turned down for three credit card in succession a few years ago, which was a complete nightmare as I then had to wait for several months before I could apply with a better credit score!
I must say I am completely hooked with using Clearscore, I regularly check when it is updated monthly just to ensure everything it ticking along in the right direction! Luckily me and my wife seem to be on the same page when it come to spending, although if she had insisted on my credit score when we were first setting off, I am not sure how I would have fared!