A few years ago, credit scores were taboo. The idea that a credit score could be used for more than just determining qualification for a loan was at best unfair and at worst discriminatory. Employers in some circumstances can use credit scores or credit reports to determine whether to offer jobs to applicants. If you sign a credit authorization form, which some employers might imply or outright say is necessary to be considered, the company can use your credit against you.
Auto insurance companies can use credit scores to set your rate because they've found that there is a correlation between higher scores and safe driving. If you intend on renting an apartment, the landlord can choose to perform a background check, and credit history could be included. If there are red flags on your report, such as a history of being unable to pay rent, you could be denied the lease.
It's clear that good credit is becoming more important in life. Credit scores and the quality of your credit histories determines not only the price of major borrowing needs, but whether you can live where you want, whether you can get the job you want, and the cost of required insurance. It's no longer a mystery that companies evaluate the quality of an individual using their credit, and as a result, any one person might benefit from adding the credit score to their own list of filters for dealing with other people.
It's getting harder to live a life without a credit score. It's a noble goal to exist in modern society without taking on any debt and to try to stay off the credit grid. The need for credit permeates life now more than ever. It's still possible to buy a house with cash, rent an apartment without a credit history, get a job with an employer who doesn't perform a background check that includes a credit inquiry, or buy insurance without a credit score. But if you haven't
built up a credit history
, it's just another obstacle standing in your way, and can end up costing you more money.
poor credit histories
, low scores, or no scores might be starting to find it more difficult to find long-lasting love. According to the New York Times, more people are adding credit scores to their social filters, as mentioned above. Credit quality has, in some cases, become the subject of first dates. It's no surprise that a couple benefits in the long run when both members of the pair have solid approaches towards their finances. Money problems often come to light late in relationships, sometimes when couples are already married and beginning to combine their finances for the first time.
Asking about a credit score on the first date and using the credit score as a proxy for the quality of an attitude towards money and responsibility is one way to prevent reaching the point where the relationship has progressed too far. On one hand, discovering late that your partner does not share your responsible approach to money creates a challenge, that if overcome, could strengthen the relationship.