The table is set, and the lighting is moody. It’s time to talk about what makes the heart grow fonder… Credit. Okay, okay. There are more heartwarming topics. But building credit together is an essential step toward financial stability and achieving those goals you collabed on. Whether newlyweds or longtime lovers, here are valuable tips to help you establish and manage credit wisely.
Understand Each Other’s History
Credit history, that is. Before you build credit together, it’s crucial to understand each other’s credit history. That means understanding your score, too. A great place to start is to download credit reports from all major credit bureaus and review them together. Whoowee, can you say ‘vulnerable’?
To Join or Not To Join
This decision is as unique as your personal couple style. While only you can say what works for you, we dug deeper into the decision here.
It Starts With You
Understanding your credit history and addressing any discrepancies takes a lot of work. Have credit cards of your own? Are you looking to consolidate and improve your credit card rates? (There are options out there for you). And if you need a breakdown of your score or a helping hand getting where you want to go, we’ve got ways to help there, too.
Monitor Credit Regularly
Stay vigilant about monitoring your credit reports and scores. You can use free credit monitoring services or sign up for alerts from credit bureaus.
Discuss financial goals, spending habits, and strategies for managing debt. The best conversations are the ones you have, so have them often, openly, and remember you’re both learning.
Pay Bills on Time, Every Time
Timely bill payments are crucial for maintaining good credit scores. Set up automatic payments or reminders to ensure you never miss a due date. We think we make it easy with our free money manager inside of your Altana online and mobile banking app.
Celebrate Milestones Together
Building credit as a couple is a journey, and it pays to celebrate milestones. Whether reaching a target credit score or paying off a significant debt, acknowledge your progress and reaffirm your commitment to financial health together.
There’s no rush, no formula, and certainly no pressure. Finances, whether combined or personal, are a work in progress. Armed with a partner in crime and a team excited for you to begin this new phase of life, anything is possible!