Five Credit Mistakes Brides Should Avoid

Whether you're a bride-to-be who dreams of a summer time or winter time wedding, there is one thing you most likely aren't dreaming of-- credit mistakes. No matter what season you'll be saying your vows in, there are five big credit mistakes that you should try to avoid.

1. Wedding debt.

While every bride imagines a beautiful wedding that will be absolutely perfect, they probably don't fantasize about just how much their ideal wedding can cost. On average, couples can spend about $25,000 on their wedding  potentially putting themselves into major debt for the big day. While this doesn't mean you should completely rethink your wedding plans, try taking precautions of what you can afford and where you can cut costs.

2. You don't share credit scores.

While saying "I Do" signifies a lifetime of commitment to your spouse, it doesn't signify a commit to their

credit scores

! Your credit scores aren't impacted by your marital status and you won't take on your spouse's scores or vice versa. Everyone has their own credit score. 

3. Co-signing a loan.

While your credit scores may not be affected by your marital status, couples can co-sign loans together, which can have an impact on each other's credit scores. So, when possible, it is better to have one partner or the other sign for a loan instead of co-signing. However, be aware that in some states, you could still be held liable, even if you don't co-sign on the purchase. 

4. You can't change others' credit habits.

Even though you won't be taking on your spouse's credit scores, it’s a good idea to be on the same page with finances. Finances can be a touchy subject among couples , as you may have different opinions about budgeting, debt, credit and money. If your spouse has a lower scores or a different view on finances, consider having a conversation with them about the importance of good scores for achieving your long-term goals. 

5. Making only one partner financially responsible.

In many households, one spouse ends up handling the finances for the entire family. However, this can be dangerous as it leaves the other spouse in the dark when it comes to the household's financial situation, which can lead to potentially poor credit choices.  

Every bride’s wedding day should be the happiest day of their life, so don't let poor credit decisions ruin your happily ever after!

To keep up with where your credit scores stand with the

three credit bureaus

during your wedding planning, sign up for PrivacyGuard.