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How can credit scores affect your marriage?

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By: Joy Mali
on 4th Oct,2013

Credit score dating is one of the latest fads to appear on the dating scene.
How can credit scores affect your marriage?

A stellar personality and incredibly good looks may get you noticed, but if you have a problem with your credit score, all of those other attributes may not do you much good. A recent trend in the dating scene involves your credit score, and if you don't measure up, you may find yourself sitting alone each night instead of being out on the town.

Credit Score Dating

How well you do on a date can be directly tied to how well you take care of your personal finances. Credit score dating is one of the latest fads to appear on the dating scene. It seems that many people are taking a long, hard look at credit scores as a measurement of a prospective mate's value. If you don't have the right score, you might find yourself facing rejection after rejection.

But what if you're already married -- does your credit score affect your spouse? The answer is, "yes." Being irresponsible with your finances can cause your credit score to drop. If you and your spouse were considering a mortgage for the house of your dreams, you may be in trouble when he or she finds out that your bad credit has caused the bank to reject your application. Your spouse may find that you are too irresponsible and an unacceptable burden is placed on your relationship.

Checking Your Credit Report

You might be wondering what you can do about your credit score. The first thing you should do is perform a credit score check. You can't begin to know what your credit score really looks like until you've reviewed your credit report. You can contact any of the three national credit bureaus to get a copy of your credit report. Credit bureaus must provide you with a copy of your credit report whenever you request it. You can also request a 3-in-1 credit report which will provide you with a comparison of all three bureau's comments about your credit. Although there are five major areas that affect your credit score, three of them are critical.

• Payment history- How well you pay your credit cards and other loans on time is a huge part of your credit score -- 35 percent. Make sure that you pay all of your bills on time every single month. Missing one payment can have a major effect on your overall credit score.

• Don't charge everything- Just because you have room for more credit doesn't mean that you should use it. Many credit advisors will encourage you to keep you credit usage at about 30 percent of your available credit. This are a affects 30 percent of your credit score.

• Length of history- If you have older credit cards or line-of-credit accounts, keep them. Future lenders are very interested to see your credit history. This tells them if you're a good credit risk or not, and it accounts for 15 percent of your credit score.

Healing Relationships and Your Credit

If you're already married and have a damaged credit report, you may want to try to improve both your relationship and your credit. It's something that affects both of you, so both of you should be involved. Sit down together and see what you can do about your credit score. Look over your payment history from your credit report. You probably can find where you've been late on a payment or even have missed a payment altogether. Working with your spouse on improving your credit is a real team effort and it may have some challenges.

Your credit score is important in so many ways. With dating being one of them, you should take a closer look at your credit score to see what you might need to do to improve it. It's worth the time and effort. Order a copy of your credit report and begin going over every detail. Do some research to find out exactly how you can raise your score, and monitor your credit scores each month. Once you have your credit score repaired, it will be time to return to the dating scene where you can boast of your improved numbers.

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