Which credit score is used when applying for a personal loan jointly?

How joint underwriting works: Each applicant's credit is pulled separately. The lender evaluates both. For pricing (rate determination): most personal loan lenders use the primary borrower's credit score for the rate determination, especially if the primary has higher income. For approval: the weaker credit profile may act as a floor - if one co-borrower has very poor credit, some lenders will decline regardless of the stronger borrower's score.

Contrast with mortgage practice: In mortgage lending, lenders commonly use 'the lower of the two middle scores.' If one borrower's middle score is 640 and the other's is 780, the mortgage is underwritten at 640. Personal loan lenders vary more widely - some use the highest qualifying score, others use the lower score.

When a joint application helps: Primary borrower has insufficient income for the loan amount but good credit. Adding a co-borrower with additional income (even similar credit) increases qualifying income. Co-borrower has significantly better credit than primary, and that lender prices off the better score.

When a joint application may not help (or could hurt): Co-borrower has lower credit score than primary and lender uses the lower score. Co-borrower's high existing DTI is factored in, worsening the combined DTI picture. Lender requires separate hard pulls for each applicant, resulting in multiple inquiries.

Best practice: ask the lender directly how they handle joint applications before submitting. Understand whose score determines the rate and whether your co-borrower's credit and income picture improves or complicates the application.