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Hello guys and gals,

My wife is currently establishing credit due to her being from a different country. She has no history but her current score is a 670 from a credit card that she opened. She needs a vehicle and she will need a loan to establish credit variety. Due to her lack of history she will need me to Co-sign for her to obtain the loan. My current score is a 655 and I've had a rough patch when I was younger, BUT I have been working on my score for about two years with nothing but positive marks. So I guess my question is, Will my negative history affect her credit score? Or will it transfer to her credit report?  I have three derogatory accounts but they have been closed. Thanks for the help in advance.

 

I apologize if this topic has already been discussed. I searched for a similar topic and could not find one that answered my question.

 

I am from Michigan if that helps anything.

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1 hour ago, kcochran01 said:

So I guess my question is, Will my negative history affect her credit score?

No your scores are separate even if you are married.

1 hour ago, kcochran01 said:

Or will it transfer to her credit report?

No.

1 hour ago, kcochran01 said:

Due to her lack of history she will need me to Co-sign for her to obtain the loan.

Maybe.  Both of you are what is probably Tier 2 credit when it comes to auto loans.  More than likely you will get interest rates around 10-14%.  I would start with your local credit union or where you bank.  As a customer you are likely to get a better rate with a pre-approved purchase amount than if you go straight to the dealer.  Once you co-sign the loan will appear as a trade line on both your credit reports and any default, late payment etc. affects both of you.

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