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Ahhh... True Love - but only with a good credit score
Old 07-24-2013, 06:26 AM   #1
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Ahhh... True Love - but only with a good credit score

Interesting article on CNN finance page: Bad credit: A deal breaker for many singles - Jul. 24, 2013

It seems more people are getting savvy about the realities of life with someone who is not financially responsible.

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For many singles, bad credit can be a deal breaker when it comes to finding love. About 30% of women and 20% of men say they won't marry a person with a low credit score, according to a new survey from FreeCreditScore.com that polled 1,000 adults.
For most of us here those percentages of 30 and 20 per cent are on the low end. It's good to see some awareness of the issues though.
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Old 07-24-2013, 07:41 AM   #2
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You can have a great credit score and not have $100 in the bank but at least it shows you can handle money to some degree. Makes me think of
Proverbs 21:20
There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up.
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Old 07-24-2013, 08:04 AM   #3
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I was about to suggest that a dating site which takes credit scores into account might be a good idea until I learned from the article that there is already such a thing.

I know very few people who have their financial act together. Either there are few of them out there or for whatever reason, I'm simply not meeting them. I suspect it's the latter!
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Old 07-24-2013, 08:07 AM   #4
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Great credit is among various indicators that your word is your bond, which is something I find super-important in a mate. Any hint of unreliability in a man always drove me away fast, no matter how attractive he might otherwise be. I married someone who had not much in the bank, but also no debt and a fine credit rating.

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Old 07-24-2013, 08:13 AM   #5
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Originally Posted by Amethyst View Post
Great credit is among various indicators that your word is your bond
+1

Perfectly articulated, and I couldn't agree more.
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Old 07-24-2013, 09:34 AM   #6
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Quote:
Originally Posted by rec7 View Post
You can have a great credit score and not have $100 in the bank but at least it shows you can handle money to some degree. Makes me think of
Proverbs 21:20
There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up.
That is most certainly true. I have a friend making 6 figures, and has a negative net worth. He has a very high credit score. He dutifully pays of his monthly debt, with assistance from other sources of credit. If he was a women, "she" wouldn't be marrying material to me even with the pristine credit score.
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Old 07-24-2013, 09:51 AM   #7
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I thought it interesting that the folks quoted were 50 and 57 years old. At that age its perfect ably understandable to be concerned about the credit scores of a potential romantic partner, especially if by that age one has built up finances and/or had bad experiences with finances in a previous relationship. It would be interesting to see the results by age.

Also, the percentages were 30% of women and 20% of men who saw it as a deal breaker. This implies that 70% of women and 80% of men would not see it as an issue. So bad credit may reduce ones opportunities for romance, but not by much.
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Old 07-24-2013, 01:31 PM   #8
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Originally Posted by jollystomper View Post
Also, the percentages were 30% of women and 20% of men who saw it as a deal breaker. This implies that 70% of women and 80% of men would not see it as an issue. So bad credit may reduce ones opportunities for romance, but not by much.
Those are the percentages for whom bad credit is a deal breaker. Many more still consider it a factor among other considerations.

"While 57% of men say that credit scores play into their dating decisions, a staggering 75% of women said they consider the numerical rating."

Makes sense. Most people would look to dating as a conduit to longer term relationships that involve joint financial activities ("building a life together"). That's hard to do if one of the parties in the relationship can qualify for a credit card, or mortgage or car loan. And it probably communicates how they manage money and responsibility more generally.
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Old 07-24-2013, 01:40 PM   #9
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Another interesting (or not) point is that men still consider sex and intimacy to be more important... (but only slightly more important!)
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Old 07-25-2013, 08:07 AM   #10
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I know very few people who have their financial act together.
That seems to be the case here too. We do know several but they're definitely in the minority.

DW and i think the others are in for a very rude awakening when the time comes when they want to retire and either can't or have to make some drastic lifestyle changes. The thing that is so difficult to fathom is why they don't see it coming.
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