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Your credit score can predict divorce

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Valued Contributor

Your credit score can predict divorce

These three digits are the real magic number.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 1 of 10
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Valued Contributor

Re: Your credit score can predict divorce

In a way kind of sad. Although one of the big reasons for Divorce are poor finances. That said, what if a person is rich enough not to need a credit score?  






Message 2 of 10
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Valued Contributor

Re: Your credit score can predict divorce

Count me in the 51%. My past marriage was to someone who didn't manage their finances well, and that behavior very much bled into other aspects of their personality. Someone irresponsible with money and credit is also going to be irresponsible about other things. I'm honestly a little surprised it's not higher than 51%. Date someone with really bad credit to see if they can turn it around themselves, sure, but marriage is hitching your livelihood to theirs, and that's not a boat you want to be on the ocean in.

 

Even the very wealthy have a credit score, not because they need to borrow but because nobody pays cash for everything anymore. If from nothing else, they'll accumulate a report from floating monthly charges on a card. Can't bring a satchel full of $20s to the airport to pay for your chartered flight, after all.

Message 3 of 10
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Senior Contributor

Re: Your credit score can predict divorce


@Janus wrote:

In a way kind of sad. Although one of the big reasons for Divorce are poor finances. That said, what if a person is rich enough not to need a credit score?  


I seem to recall that sex & money are the two leading causes for divorce (not necessarily in that order).

My ex's family were wealthy - he never learned to manage money or impulse control since his fam always bailed him out, so, I'd go with "depends."   And to make it worse, since I didn't realize how *****ty they were with money, I let them "manage" our household finances (ironically while being one of the major managers for a wealthy person's financials).

After losing my proverbial shirt in my marriage/divorce, I would absolutely not marry someone who couldn't manage their money, again (I'm not necessarily hung up on scores so much as I understand catastrophic things happen like medical bills, unemployement, or - well - divorce).


EQ: 792 | EX: 785 | TU: 781 | Accounts: 2/6 5/12 10/24
Happy practitioner of AZE6or7or8
Message 4 of 10
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Moderator Emeritus

Re: Your credit score can predict divorce

I think I'm in the 51% too.

 

I don't know quite what the right approach is, I know with this move to Texas I'm going to try dating again looking explicitly for a long-term relationship which I've basically ignored this past year and change.

 

I've seen too many relationships go south because of money, but ultimately I expect to be utterly transparent with my finances and credit both with my wins and my mistakes, and what my long term financial strategies are too... in hopes any prospective partner will reciprocate.  I'm not quite sure if it's smart to put the credit score on a dating profile (though I may test that theory) but it's an important conversation to have.

 

End of the day I can read a credit report as well as any underwriter, one time events ain't no big deal but long term fiscal mismanagement we're not likely compatible.  I suspect it's a pretty good litmus test anyway, if you can't share this level of detail what about when crap actually gets hard and it's more than just you two involved (kids or whatever).




        
Message 5 of 10
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Established Contributor

Re: Your credit score can predict divorce


@Revelate wrote:

I'm not quite sure if it's smart to put the credit score on a dating profile (though I may test that theory) but it's an important conversation to have.


That would be interesting: "Understanding FICO Dating"

 

If someone asks, "What's EX 8 805 mean?"...probably not LTR.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Testing aggregate utilization greater than 8.99% but less than 9.00%. It's treated the same as 9.00%.

Message 6 of 10
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Valued Contributor

Re: Your credit score can predict divorce

Having this restriction as with any other could wind up costing a person the love of their lives/soultmate<(if people believe in that). I've known both types of people who's marriage eneded, the couples with poor credit wasn't about finances but other personal matters. The other couple with good credit bit off more than the could chew with mortgage and CC debt, and over time it became too of a much strain causing the end result. There are also a couple people who struggle with poor credit most of their lives and still remain together. And I'm sure there are many couples who may be miserable together regardless of good or bad scores.

 

Most of the people i know who have seperated did so due to simply growing apart, or the infidelity issue. The few instances where finaces caused issues weren't even about scores, but simply mismanagement. Even though they knew the problem existed, not one of them tried to budget their Money better. Just kept on spending like it would go away one day. 

 

For all the dating apps meant to bring like minded people together, it still doesn't fare much better than bumping into someone one day and hitting it off.






Message 7 of 10
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Moderator Emeritus

Re: Your credit score can predict divorce


@Janus wrote:

Having this restriction as with any other could wind up costing a person the love of their lives/soultmate<(if people believe in that). I've known both types of people who's marriage eneded, the couples with poor credit wasn't about finances but other personal matters. The other couple with good credit bit off more than the could chew with mortgage and CC debt, and over time it became too of a much strain causing the end result. There are also a couple people who struggle with poor credit most of their lives and still remain together. And I'm sure there are many couples who may be miserable together regardless of good or bad scores.

 

Most of the people i know who have seperated did so due to simply growing apart, or the infidelity issue. The few instances where finaces caused issues weren't even about scores, but simply mismanagement. Even though they knew the problem existed, not one of them tried to budget their Money better. Just kept on spending like it would go away one day. 

 

For all the dating apps meant to bring like minded people together, it still doesn't fare much better than bumping into someone one day and hitting it off.


Sure, but fiscal mismanagement impacts scores.  People don't change behaviors as a general rule without outside influence / force.

 

If that theoretical love of my life where everything except finances were met: if she were willing to let me manage the financial side and she covers the things I'm not good at, better together than we are apart = solid.  I don't know if that sort of arrangement is feasible anymore honestly, but if we're equal partners in finances and each accountable for our own spending (rather than restrictions placed by yours truly) then someone who shares my financial mindset matters and those stupid credit numbers tell a lot about a person.

 

Case in point, I have a 60D late on TU is pretty much all you need to know about one element of my personality: I get distracted, badly, sometimes for a few months if something doesn't truly matter to me.  Fact is credit reports can tell you a lot about an individual, same as social media behavior so the general thesis isn't one I'd dispute even if there are always exceptions and sometimes literally hundreds of thousands of them in this case.

 

End of the day an 800+ FICO is not one of my "got to haves" when I'm thinking about long-term relationships, it's a below the line nice to have and that's negotiable.  There are other things which are flatly not negotiable which take precedence.

 




        
Message 8 of 10
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Valued Contributor

Re: Your credit score can predict divorce


@Janus wrote:

Having this restriction as with any other could wind up costing a person the love of their lives/soultmate<(if people believe in that).


The love of my life would be someone I would accept exactly as they are and not want to change. Someone who can't manage simple finances and would inevitably drag me down the hole with them would be something I'd very much want to change in that person, thus eliminating them from possibly being the love of my life.

 

That's often why so many "grow apart" as you've observed. People see only the great in the honeymoon phase, then once things settle in they finally start to see the things that were there all along but they looked past because puppy love or great sex or whatever. Love is more of a matter of the mind than of the heart, and it's only when we start looking at our partners with our mind instead of our heart that we can see if we have truly found The One.

Message 9 of 10
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Frequent Contributor

Re: Your credit score can predict divorce

Would definitely make for an interesting conversation during first date/speed dating: what's your FICO2/4/5? Sorry, next!




Goal: Mortgage/Chase Trifecta




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