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Can Having Children Affect My Credit Score?
Some people worry that having children will negatively impact their credit score. If you are looking to start a family or you are a new parent, there are a few things you should know about having children and your credit.
First, having a new child does not directly impact your credit score. No one will contact the credit reporting agencies to tell them that you are now a parent, and no lender will deny you credit because you have a baby. There is no place on your credit file that reflects your parental status.
However, be aware that having children is expensive. There can be a lot of medical bills associated with parenthood, especially if you don't have medical insurance. When you have open accounts with medical providers, these will show up on your credit report and can affect your score. If you don't make payments to the provider as agreed, your credit score will suffer. Make sure you can afford these payments.
Before you start a family, you should have a solid handle on your credit portfolio. If you have questions about your credit and how to improve your credit score, or just want to know more about credit related issues, we are here to help. We have provided a list of the top ranked credit repair companies in the United States for you to browse and find the one to best help you achieve your financial goals.