How does sharing credit with your spouse affect credit moving forward? This question is not a common one as most people will think it is normal to blend credit lines with their spouses. Although this may seem like a normal thing to do, I believe that spouses that blend credit leave themselves limited, in case something were too go wrong with ones financial situation. It’s like this…..the credit is blended and both spouses share a credit card or trade line. This trade line is reported to both bureaus the same. Another trade line gets added, and again, both share the same trade line so it reports to both bureaus. If one of the spouses runs into financial hardship and can’t afford to pay the trade line it would report on both bureaus. Both have joint responsibility in that one trade line. I believe that spouses should keep separate trade lines as this would allow for one spouse to help another, in case of financial hardship with ones employment.
Does this make sense? Is it confusing to you? Do you have questions?
Just my 2 Cents