Credit scores of your new spouse

I am getting married in May and while I love my SO to bits, I have to wonder just how his less than perfect credit score is going to affect me once I go to move to the UK.

He's doing a good job of getting his bills paid off although he does struggle sometimes month to month.

Will it affect me directly when I go to get accounts in my name?

Also, in the states if you have a home and sell it, then rent for 3 years I believe you can qualify as a first time home buyer. Is there something similar over in the UK? He had a home with his ex and sold it several years ago. Or could I just buy the home and qualify as the first time home buyer?

Thanks.

If you apply for credit cards and such in your name then his credit score won't impact you. Same goes for bills. Just apply first then add him on everything.

I'm not sure about home ownership so hopefully someone else will comment on that.

Be aware that even though his credit isn't stellar at least he has some as when you move to the UK you won't have ANY. Your credit history & score from the US will not travel with you...you'll be the one who will have issues as you'll have NO credit and won't be able to even get a mortgage for a very long time -- at least until you have ILR.

Be aware that even though his credit isn't stellar at least he has some as when you move to the UK you won't have ANY. Your credit history & score from the US will not travel with you...you'll be the one who will have issues as you'll have NO credit and won't be able to even get a mortgage for a very long time -- at least until you have ILR.

Good point weby! Even things like mobile phone contracts are hard to get when you first move to the UK. I had to start out with a £300 credit card with a terribly high interest rate. I've been here nearly four years so it takes a long while to build it all up.

I believe that credit scores are tied to individuals in the UK - so it would never be linked to your husband's regardless.  As opposed to in the US where credit scores are spouse-linked.  It can be frustrating starting over when you've built a life-time of good credit back home!

Its also linked the address and stuff follows that - that blows my mind!

also you have to register to vote at your address over here in the UK or you have no credit , and the scores are different , I just ordered a home phone in my name to get credit in my name 

also you have to register to vote at your address over here in the UK or you have no credit , and the scores are different , I just ordered a home phone in my name to get credit in my name 

I don't necessarily agree with that.  I am not a registered voter and I have two UK credit cards.

You can't register to vote until you are a citizen. 

I  tried online to get a catalog from "its me " as someone  on here suggested to  help get  credit  they would not even send me a catalog go figure ... I do have a checking and savings with Lloyds (I put money in each month to pay direct debits .. tv license , and now the new phone bill , so in a few months I will apply for credit card

Hi,

The way the Credit reference agencies here 'score' you does vary and currently, with the economic turmoil the whole country is facing, more and more people defaulting etc I'm sure they've 'tweaked' the way this happens. It's not public knowledge as such though, and if you ask them they'll probably deny anything or just say it's the same as it's always been.

That said, you can be 'linked' financially to another person, and if you do view your own report, you'll see that section covering this. If that other person does have a low or bad credit history or rating, then even if they do deny it affects your score, my 'feeling' is that it does affect it. Quite if that in turn, makes an impact on any credit you apply for, I don't know though.

Meghan - your direct questions aren't so easy to answer. If you open accounts in your name independent to your other half, then that bit should go through smoothly. However, I'm not sure when you'd be linked to your husband on your credit report (and him linked to you on his) although I'd hazard a guess it's when you decide to 'add' him to an account you have. When it comes to house purchasing, only you know your financial position etc. I've had relatives come over to the UK and been able to purchase properties with 30-50% deposit down and zero paperwork asked for (2004 & 2007) nowadays I'd think it'd be the same if you had a minimum of 40%+ to put down. Being a 'first time buyer' in this sort of scenario won't really make a difference. If you have much less perhaps to put down, you'll need to speak and find out from all the potential lenders what their criteria is, although I'd say be wary of any fixed rate interest deals for the first 1,2 or 3 years. The UK's base rate is at an historic low of just 0.5%, but as things progress and the economy slowly pulls itself out of the mire it's in, that interest rate is only going to go up. Factor in the interest rate at the end of your 'discount' period might well be higher, be prepared for a significant increase in your monthly mortgage payments at that time.

There's a few topics in this section for how to increase your credit score and to do it as swiftly as possible. It still takes time, but you can help it along very nicely if you keep one step ahead on your finances and the handling of them.

Cheers, DtM! West London & Slough UK!

If you're interested in your how your finances might work once you get to the UK, you should probably check out a UK-based financial website.  Moneysavingexpert.com is pretty good and reputable, but there are others.

Also, if you haven't already, it's a good idea to get an American Express card while you're in the US, as it is the only card (I think?) that will allow you to transfer your account (and your credit) overseas.  More details here:
http://www.americanexpress.com/global-card-transfers/
As others have mentioned, it is difficult to establish credit in the UK as a migrant, and having at least one card can help.

In addition to what the previous poster mentioned, you should make sure that it is an am ex card that can be transferred to a UK one.  I had an american airlines am ex where I earned mileage for a couple of years (with a good record as well) and was told that it wasn't eligible for transfer.  Some ppl may have had better luck with this however.