Looking for love? A poor credit score can make you less attractive.
A website is attempting to make matches based on riskworthiness
Forget the power of pheromones.
Want to make yourself more attractive to a potential mate? Make sure you have a good credit score.
Turns out that having a great credit history is sexy to some people. And an online dating site is betting that hooking people up — in part based on their credit scores — will score lots of users.
In creating a dating profile, CreditScoreDating.com requires users to disclose where they fall in a range of credit scores. Here are the choices from its drop-down menu. (The higher the score, the better credit risk you are.) 801-850 751-800 701-750 651-700 601-650 600 or below But the reporting is on the honor system.
“The site does not check the accuracy of the scores,” reports Mia Taylor at Credit.com.
The site’s founder, Niem Green, says that a group of questions can help determine whether people are being honest. (Though, I imagine they could lie with their answers.)
As Taylor writes, “The questions cover topics such as delinquent accounts in the past and what they would do with a sudden cash windfall. The answers are included on each user’s profile, alongside other pertinent dating information like age and hobbies. In addition, the information gleaned by the algorithm, which Green said has a 92 percent accuracy rate, is used to match compatible site users.”
For its survey, Bankrate.com wanted to know whether a bad credit score could hurt people’s chances of finding a partner. It might. Almost 2 in 5 U.S. adults said that knowing someone’s credit score would affect their interest in dating that person, according to the Bankrate.com report released last week.
And which gender is more likely to consider a credit score a major influence in their dating decision? Women.
Fifty percent of women said that a certain credit score might have them think twice about dating someone, while just 35 percent of men said it would factor into the appeal of a date, according to the latest Bankrate Money Pulse survey, which was conducted April 20-23 by Princeton Survey Research Associates International with a nationally representative sample of 1,000 adults living in the continental United States.
Here are some additional findings from the survey:
Older millennials (27 to 36) are the most likely to be concerned about credit scores.
Younger millennials (18 to 26) are most likely to say it has no impact at all.
Nineteen percent of Americans think that credit scores are never an important factor in a relationship.
So when is a good time to reveal your credit score while dating?
Six percent of the survey respondents thought that people should share credit scores within the first few dates.
That’s way too soon to share such intimate details of your financial life.
Thirty-seven percent of the survey participants said people should share credit score information after dating a few months, and the same percentage said to swap scores after getting engaged.
Keep your personal finance details to yourself until you’re serious. What you should be sharing and finding out during the dating period is the financial values the person has. Is he a good saver? Does she think having a lot of debt is no big deal? How generous is the person? “It’s probably not a great idea to ask for someone’s financial history on the first date,” said Mike Cetera, credit-card analyst at Bankrate.com. “However, it’s better to know if a potential partner has a history of bad financial decisions before the relationship goes too far, especially if you plan on making large purchases together or sharing bank accounts.”
You should not be making large purchases with someone you are dating or sharing bank accounts until there is an “I do.”