The Morning Journal (Lorain, OH)
Are we receiving the right digits?
Dating is exciting. It is a time to get to know one another, develop a friendship, and spark romance. There is that element of surprise and mystery. However, some financial experts feel the “mystery” could be the reason the United States carries such a harsh divorce rate.
A total of 813,862 divorces in 2016.
The process of dating all starts with exchanging phone numbers, but perhaps that is the wrong number for budding couples to exchange.
Instead of changing phone numbers with a person you’re interested in, one website suggests that you exchange credit scores too.
In fact, the founder of CreditScoreDating.com, finds it so appropriate, he created a website specifically made for pairing partners with like-minded finances and credit histories.
Today, we are going to discuss how the author of Credit Score Dating makes excellent credit scores and history sexy.
Is Bad Credit a Deal Breaker?
Bad credit shouldn’t be a deal breaker, but you should discuss credit before things get serious.
After all, Marriage.com rates money as the second most common reason for divorce in the United States. Sadly, people don’t discuss finances while they are dating.
To avoid hiccups later in your relationship -- or once you’ve dived into marriage -you should discuss items like: • Credit History • Credit Score • Income • Expenses • Financial Health Talking about money and financial health over a first (or even fifth) date is not easy.
Today, it might not have to be so difficult; thanks to the latest credit dating site.
Money is the Leading Cause of Relationship Arguments
Numerous studies have gone on to show that couples tend to argue about money more than anything else. In fact, the American Institute of CPAs did a 2016 study, which revealed that money problems were the leading source of daily and weekly stress in a relationship.
In fact, 88 percent of those adults ages 25 to 34 who were married or living with a romantic partner said that financial issues were the leading source of tension in that relationship. Why?
Because most of those couples did not discuss their financial situation upfront. Many couples do not realize their spouse’s financial health until after the wedding.
Sadly, in that same study, only 42 percent of couples surveyed knew their financial goals for the long-term.
Can a Credit Score-Based Dating Website Work?
This revolutionary site uses the honor system, so if someone is not upfront about their credit, then the site won’t provide either party benefits.
When a prospective dater creates his or her profile, they include a credit score.
Then, the site creates questions, probing the dater’s financial habits. A few items asked include: • Delinquent accounts • Credit score • Credit history • Spending habits • Actions Against One’s Credit
These answers are infused into the user’s dating profile along with the usual “dating” information.
The site claims to have a 92 percent accuracy and ability to measure if a person is lying about their credit.
A Site Born from an Interesting History
The CEO of the dating site is no stranger to credit habits and financial struggles.
As a former bank underwriter, he knew what people did with their money and knew when people have unhealthy spending habits.
So, he leverages that knowledge to create a website algorithm that is highly accurate in predicting creditworthiness.
The site matches people with potential partners based on how they manage finances, their long-term financial goals, and then the usual dating criteria (i.e. hobbies, likes and dislikes, personalities, and so on).
Already Dating? You Should Still Have a Financial Discussion
While you might think it is unnecessary to discuss finances over a romantic meal, being on the same page about money matters could lead to a healthy, successful relationship.
No matter how embarrassing your credit or debt situation might be, it is better to be upfront with a person about it. Doing so ensures fewer conflicts later, especially when things become serious or your finances start to entangle with one another.