We are charging everything from our groceries to our telephone bills. What's more, Americans are declaring bankruptcy in record numbers. Even if one spouse has great credit, the other's bad credit could hamper their ability to obtain a home loan. It's best that the one with good credit apply for the loan, Dvorkin suggests. However, this may not help if that person's income alone is not enough to qualify.
Poor credit prevents people from buying the house they want.
You can get one with bad credit. One way to keep finances from destroying your relationship is to keep separate credit card accounts. On a joint account, both parties are responsible for the whole balance. Even a divorce settlement may not separate responsibility. If the credit card company cannot collect from one, it will go after payment from the other.