Decided to take the plunge and move in together? Maybe you're ready to exchange rings? Or, it could be that you've stepped in to care for an elderly parent or help a family member in need. Well, no matter what level of commitment you're making, be aware that any such commitment can have an impact on your credit standing.

You've probably thought through changes to your budget and maybe considered opening a joint bank account. But have you thought about a plan for one of your key assets-your good credit? The right credit know-how can help reduce the pressure of these stressful life events. Here are some tips:

• If you're changing your name, notify your creditors and check your credit report in a month or two to be sure the credit bureaus receive the updated information. Otherwise, you might lose your credit history.
  
  
• Keep credit in your own name in addition to joint accounts. If you part ways or want to finance something on your own, it's important to have credit available in your own name.
  
  
• If your partner or family member has trouble getting credit alone, you can set up a joint account-or cosign on an account-to help them capitalize on your good credit. However, be aware that if s/he misses a payment, the negative notation will also be added to your credit file. Additionally, as a cosigner, you will be responsible for paying the debt in full if s/he cannot or will not.
  
  
• If you anticipate the need for a large purchase or want a credit cushion in the coming months, consider requesting a credit line increase now. That way you'll know the credit is available when you need it.
  
  
• Set aside one hour each week to talk about finances with your partner or family members. Whether it's settling up on the rent or reviewing joint credit card statements, it's important for you to discuss your financial situation together.
  
  
• Check your credit report now, and continue checking it regularly. This shows you where your credit stands today, and gives you an opportunity to work on maintaining or building your credit rating together. Get your FREE credit report here!
  
  
• If you are taking care of an elderly family member, consider setting up Power of Attorney on their accounts. This allows you to take care of their finances should they be unable.
  
  
• Keep your debt load reasonable. If you're furnishing your new home, setting up a room for your new guest, or buying twice your normal amount of groceries, your credit cards may be getting a work out. Remember that a major factor in your ability to get new credit or credit-line increases is your total amount of debt. As a rule of thumb, financial experts say that your non-mortgage debt payments should not exceed 10 to 15% of your take home pay each month.
  
  
• Pay your bills on time, every time. This is one of the most important actions you can take to build a solid credit history and maintain it. If you're having trouble meeting your minimum payment, make sure to call your creditor and explain the circumstances.

Article brought to you by ConsumerInfo.com