Maybe having a great credit score won’t guarantee love and romance, but it certainly can hurt! Although money doesn’t bring happiness, being able to live a comfortable lifestyle and have access to the options that a good credit score offers are surely steps in the right direction.So many people today are enjoying a high-quality lifestyle because they took good care of their credit score.They don’t need to worry about being able to access loans and credit cards when they need to purchase homes, vehicles, boats, take vacations, or send their children to college.
One of the leading causes of divorce in the United States stems from financial trouble. It is also one of the major contributors to stress and turmoil throughout the duration a relationship. In an effort to prevent this, more people might consider asking potential dating partners if they have a good credit score range, before even considering taking the relationship to the “next level.” When you check your credit score, you or the person checking it, may determine your level of responsibility by how you handle your finances. This is being used more and more by young couples, in an attempt to determine if their prospective partner is going to be to someone they can count on or if they are asking for trouble.
Checking your credit score, or the score of someone you care about, may help avoid any unexpected financial surprises and help couples effectively plan their lives together. You do not have to feel embarrassed or ashamed when asking your partner to provide his or her credit score, as long as you are willing to do the same in return. While you retain your own credit identity after marriage, any joint accounts such as car loans, mortgages, and credit cards, will reflect both people on the account, and might affect the overall credit score of the couple, when applying for loans.
How to Check Your Credit Score
Your credit score is determined by a number of factors. The system used is rather complicated, and may vary slightly from one agency to the next, so there is no easy way to calculate your own score. You and your partner can sit down together and compare your scores and credit reports, and determine what steps you might take to fix any problems you may have. There are also companies who specialize in helping people monitor their credit. You may request multiple credit reports from them several times each year as part of the fee you pay for their services. This can be an important tool for aspiring couples, who have plans of starting a family and purchasing a home together.
Credit monitoring services are especially helpful if you have a large number of loans and mortgages of which you are trying to keep track.you keep an eye on your credit score as well as the activity being reported to the credit reporting agencies. Having the ability to check your credit reports several times a year will help both you and your partner to protect your credit.
Steps to Protect Your Credit
Having good credit doesn’t have to be a difficult process. There are several simple steps that anyone can follow which will help protect their credit rating and make getting loans, mortgages, and credit cards easy and convenient:
• Never let anyone have access to your credit card number. Only give your card to store cashiers or business clerks whom you are sure will treat your information as confidential.
• Always compare your receipts with the amounts listed on your billing statement. If there are inconsistencies, someone may have used your credit card information to make unauthorized purchases. Report any inconsistencies to the card issuer as soon as possible.
• Don’t let telephone or email scam artists have access to your credit information. Your bank or credit card company will never call you to verify your credit card account number or your personal identification number (PIN).
• If you lose or misplace your credit card, report it immediately to your bank or credit card issuer. If someone has stolen your card, your card issuer can cancel that card, thus preventing a thief from making unauthorized transactions.
• Always make your payments on time. Nothing will ruin an excellent credit score faster than a couple of delinquent payments. Develop a payment schedule and follow it.
Having good credit can certainly make life–even your love life–more enjoyable! People who have low credit scores may have a more difficult time purchasing cars, obtaining a mortgage, or even getting a good job. Taking good care of your credit score is easy if you use credit wisely, and the benefits may be immeasurable.
Amy is an active finance blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances.