Bad credit? Pass! A whopping 75 percent of women and 57 percent of men take one’s credit score into account when it comes to dating. Women, in particular, see financial responsibility as a characteristic that’s just as important as physical attraction, sex, and ambition, CNN Money reports.
One-third of women wouldn’t dare tie the knot with a man whose credit score is far too low. Among men, 20 percent wouldn’t marry a woman with poor credit. “Respondents said they worry that a partner with bad credit could hurt their prospects for qualifying for home loans, auto loans, or lower interest rates and they’d be irresponsible about handling joint finances,” CNN added.
While rejecting a potential partner based on a numerical value might seem superficial, it makes sense since a stable financial ground is necessary for marital unity. Love is great, but beyond cloud nine, a hot guy with a poor credit score will obliterate your dreams of homeownership.
“I wouldn’t attach myself to someone who would bring me down—mortgage-wise, or when it comes to buying a larger house or even [qualifying for] insurance rates—it affects every aspect of your life,” Linda Basloe, a 57-year-old New Yorker with excellent credit. “It doesn’t matter how beautiful they are, that’s not going to pay the mortgage.”
The importance of credit scores in the dating scene presents a quandary: When is the right time to ask? Nearly 40 percent ask during the first year of a relationship, 21 percent discuss it before entering a commitment, while 19 percent bring it up before co-habitating. Only one percent have dared to ask for scores on a first date.
“I went to dinner and casually asked about her credit and she told me she couldn’t buy a car recently as her scores were no good,” Jerry Koller, a 50-year-old Californian. “[I] made it a last date.”
A little harsh of Mr. Koller? Maybe. But at least he didn’t bother wasting the woman’s time any further. For many, asking about one’s credit score can be as intrusive as asking for one’s salary. How do you find out someone’s FICO number without creating an awkward moment? There’s actually a dating site that allows users to know the credit score of each member — CreditScoreDating.com. The problem, though, is that “[s]ince scores are self-reported, however, it’s hard to tell if someone is telling the truth,” CNN adds.
To scare poor credit users away, Creditscoredating.com uses this comical scoring guide:
“800-850 is ‘MARRIAGE POTENTIAL DING DING DING’ 750-800 is ‘take him/her home to Mom’ 700-750 is a ‘fixer-upper’ 650-700 is ‘fun for a night out, maybe, but bring cash’ 600-650 is ‘keep lookin’!'; anything below 500 is ‘RUN because they won’t even get a car loan, probably, and how embarrassing will that be at the PTA meetings?’ 200 is ‘this person is just pulling your leg and is really royalty.’”
Obviously, marriage isn’t just about having someone fill the right side of your bed. That conversation about your partner’s financial responsibility must be discussed.
Do you only date people with perfect credit?