Matchmakers using credit scores for compatibility

03.24.09
By Lewis Green

As if consumers are not burdened with enough financial stress right now, some singles may also have the money woes of potential partners to worry about.

And given today's economic roller coaster, pairing up with a partner who has a less-than-stellar credit history or mountains of bad debt could spell trouble down the line.

Because couples tend to apply together for mortgage loan or auto loan approval, it is important that you understand any marks on each others' credit history.

NECN.com is reporting that more single people are expressing concern about what may be lurking in a potential date's credit past.

The news source says that a recent survey showed over 80 percent of singles are being extra choosy when accepting dates because they don't want to get involved with someone in a precarious economic position.

Some new dating sites are matching potential couples by their credit score - giving some people a sense of relief that their match has his or her finances in order, says the news report.

Financial guru Suze Orman recently worked with a soon-to-be-married couple on the Oprah Winfrey Show and reminded them that when applying for a loan together in the future, their interest rate will be based on the lower of the two credit scores.

Unbeknownst to the groom, his fiancé had $21,000 in student loan debt she had never told him about in addition to thousands of dollars in credit card debt. Orman was tipped off to her money woes based on her low FICO score.

Orman advised this couple and other potential matches that before you get involved in a relationship, know what hidden debt your partner may not have revealed and know their credit score.

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Some couples now consider credit score when dating