Do Credit Scores Matter For Dating? – Episode #25
June 10, 2008 by awjolls
Filed under Couples Credit, Episodes
Do credit scores matter when you are dating? Dating is a time for determining compatibility. You can’t check your date’s credit score, but he or she can check it and discuss it. You want to date someone who has similar values about money as you. Well, maybe. If you are good with money, you want someone who is good with money. But, if you are bad with money, you probably still want someone who is good with money. I used to have friends who wouldn’t date someone with credit card debt. They saw it as a character flaw. I think I learned this from Suze Orman: “just cause you are bad with money, doesn’t make you a bad person”. Having worked at myFICO, I learned that someone’s credit score was more important than their debt status. Why? There are lots of reasons for debt, but being late on payments and doing this repeatedly, is quite a different story. It shows another issue around organization and probably lots of psychological issues I’m not trained to go into.
For the record, I had my wife check her credit score on our third date. I know, perhaps I’m a freak…and yes we are still married. But honestly, it was a relief to see that she had a great credit score. Now, she’s bummed when my credit score is higher.
Something like 80% of divorces are related to money issues. You don’t want to make this mistake and the time to get this right is when you are still dating.
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- Closing Date and Due Dates Can Impact Your Credit Score – Episode #8
- Student Loan Debt vs. Credit Card Debt. Which Impacts Credit Scores More? – Episode #64
- What is a Collection Agency and How Do They Work with Credit Card Companies? – Episode #10
This is stupid because life is not predictable! A major crisis in a person’s life could happen and completely change their credit score. A person with good credit could cheat on you where as a person with bad credit would not. Put with low credit scores can do things to make it go up.l
Amy, it’s true that a major crisis accounts for a large percentage of bankruptcies. A Harvard study showed that 46% of all bankruptcies were from a medical crisis. This means a lot of people get their credit scores impacted from unforeseen events.
I’m not suggesting that credit scores are the only character trait that matters rather that couples with similar values about credit and money tend to have an easier time navigating a relationship. That’s not to say a person with bad credit can’t make it work with someone with good credit. Those couples will have to have very good communication and goals and decide where they want their credit to go.