How to Talk to a Boyfriend/Girlfriend about Their Credit Rating

August 7th, 2017 | Author:

[I]f you’ve been dating someone for a while, you may be getting serious. Before you start dreaming about the perfect wedding day or what life will be like with 2.5 kids and a dog, you need to know you’re on the same page about important issues.

While many people think nothing of talking about how many kids they want or where they will live, they are uncomfortable discussing someone’s credit. Even if you have discussed finances in general, you need to know about their credit rating.

Preliminary Information

Before you broach the subject, you can find out some information on your own just by observations. For instance, what is their attitude towards money? Do they like to spend it or are they frugal? Notice where they suggest going to dinner, especially when they are paying. Pay attention to how they dress and what kind of items they own. Your boyfriend/girlfriend will likely tell you when they make a big purchase or buy something they really wanted.

This information tells you if they are a spender or saver or if they are too frugal for your liking. It also tells you if they are responsible or if they’re likely to get in to trouble with money.

How to Bring Up the Subject of Credit

Talking about money is still often easier than discussing credit, but you need to have this discussion. It’s not just about how they feel about money, but about any mistakes they’ve made in the past. The reason they are so frugal and responsible now may be because they made mistakes in the past. While they have learned their lesson, it can still haunt you if you try to get credit or a loan together.

Your partner’s credit will impact you whenever you try to buy a home together, rent a place, get other loans or credit cards if you try to apply together. The time to find out about their credit past is before you start planning a future with this person, so you can be prepared for what it will mean.

Newest Answers

Common Myths on Building Credit

October 21st, 2017 | Author:
h

If you are just starting out on your own, you may have a hard time getting credit cards or loans because of a lack of credit history. You must build credit to get access to the best credit cards and loans, but you can mess things up if you don’t know how to do it […]

Continue Reading »

3 Things to Do When You Know You Can’t Pay a Bill

October 20th, 2017 | Author:
h

One of the worst feelings you can have is when you have a bill coming due and no way to pay it. You have either spent all of the money or you have to spend it on something more important. You don’t want to have to deal with those phone calls from creditors because you […]

Continue Reading »

Why You Should Change the Due Dates on Your Bills

October 11th, 2017 | Author:
h

[Y]ou open up the credit card statement only to see another $30 late payment fee assessed. Ugh! You can’t believe you forgot to make a payment on time again. In between running the kids to daycare or school, meeting with clients and taking care of errands on the weekends, some things just get pushed aside. […]

Continue Reading »

Good and Bad Reasons to Have a Credit Card

October 10th, 2017 | Author:
h

[G]etting approved for a credit card is a sign of responsibility. It can give you freedom with your finances. For instance, you can book a hotel or buy airline tickets, which would be difficult without a card. You should know why you want a credit card and understand if those reasons are good or bad. […]

Continue Reading »

Should You Avoid All Debt?

October 6th, 2017 | Author:
h

You hear financial experts preach about getting out of debt. They tell you to cut up your credit cards and pay for everything with cash. While some people may need to follow this advice, you may wonder if it’s the case for everyone. Should you avoid ever having any kind of debt again? Not Avoidable […]

Continue Reading »

Why Fall is a Good Time to Learn to Save Money

October 2nd, 2017 | Author:
h

[T]he busy summer season is behind everyone, and the upcoming holiday season is a few weeks away yet. Now is the time to focus on goals you have set. One of the most important is saving money. Fall = Transition Time You are transitioning from the lazy days of summer, times when you spent a […]

Continue Reading »

How to Protect Your Identity at Home

September 27th, 2017 | Author:
h

[W]hen you hear about identity theft, you may think about all of the public computers in use as well as the credit card machines in stores. While these are all areas that are vulnerable to hackers and those who want to steal your identity, one of the most dangerous areas is at home. Why? Because […]

Continue Reading »