Having a high credit score can make it easier for you to get a date, this according to a New York Times story. Seems like more traditional priorities like having a good job are becoming passe for some. Need help with your score? I share tips to boost your credit score below.
Would you dump a person because of their credit score?
I must admit that credit score dating sounds like people are just interested in meeting those with money. But after giving it some thought, I changed my mind. Manisha Thakor, the founder and chief executive of MoneyZen Wealth Management, a financial advisory firm, eloquently described credit score dating to the NYT.
“Credit scores are like the dating equivalent of a sexually transmitted disease test,” Thakor said to the Times. “It’s a shorthand way to get a sense of someone’s financial past the same way an S.T.D. test gives some information about a person’s sexual past.”
Learning about someone’s financial history is important if you plan on getting serious. And as a single person who’s cautious with money, I would like my other half to be responsible with money as well. I just wouldn’t ask on the first date. I would keep an eye out for other cues like his tipping etiquette.
Here are some steps to boost your credit score even if you’re not looking for a date.
- Monitor your credit report annually. Here’s how to get your credit report for free.
- Dispute wrong information. Correct wrong information with the bureaus like late payments, and credit limits. These can lower your credit score!
- Keep a low debt utilization ratio. This ratio is how much debt you’ve accumulated on your credit cards divided by the credit limit sum of your credit cards. You want to keep your charges at 30% or less of your available credit.
- Don’t wait to pay off your bill all at once. Make micropayments to lower your debt quicker. You don’t have to wait to send payments till your credit card bill is due. This will help you keep a low debt utilization ratio.
- Don’t be a “credit seeker.” Having good credit is somewhat of a Catch-22. You can’t build your credit, if you don’t have credit. Instead of applying to several credit cards within a short period of time to see which one will take you, only apply to one. Every time you apply for credit it will show up in your credit report, so you’ll look like no one wants you in the eyes of creditors.
What do you look for in potential partners — great personality, money knowlegde? Share your tales of money and love in the comments!