Share credit histories before getting married

Wedding gifts can be one nice perk of tying the knot. However, a gift that engaged couples can give one another, admittedly not enchanting, is sharing the details of their credit histories.

This pays off down the road in not having that stormy blowup upon getting turned down for an important loan due to, say, a spouse's (surprise) $50,000 student loan debt, says Carolyn McCormack, director of education at SafeGuard Credit Counseling Services Inc. in Hauppauge.

People may not know that when couples apply for loans, each person's credit score may be considered. So, even though your score is stellar, you could be turned down or given an unfavorable rate. What to consider:

Basics: Your scores and reports don't merge after you marry. Each keeps his or her own, so a new spouse's old activities won't skewer your score. That's unless you're added to his or her account, in which case "the entire account history, including any late payments in the past seven years, becomes part of your credit report," says Gerri Detweiler, credit adviser with Credit.com. Of course, any credit problems that arise on any new joint accounts will have a negative impact on your score.

Discuss: Why not print out your own reports and scores and say you'd like to share those details so you can both better plan for the future, McCormack suggests. If your beloved does not pick up on the cue, just say, "Now, how about yours?"

Where to go: Buy FICO scores at MyFico.com, or get a free "report card" analyzing your score at Credit.com. Get a free credit report each year from each of the three reporting agencies at AnnualCredit

Report.com.