What’s the latest online dating trend? Sites that use credit scores to help people find potential dates. The idea being that people with similar spending habits are more likely to make compatible couples.
Credit scores were originally created to help banks decide whether you were a good loan risk or not. But today, credit reports are routinely used for employee background checks, to assess rental applicants, and to set insurance rates for homes and cars. And websites, like Credit Score Dating and Date My Credit Score, claim it’s a logical next step to use scores to evaluate people’s compatibility.
After all, studies show that the number one cause of conflict in relationships is money. So it would be good to know up front if your date is a saver, who spends wisely, or is in debt up to their eyeballs. And a good credit score says a lot about your habits because it means you follow through on your commitments, pay attention to detail, and don’t overspend.
But critics say that matching credit scores is not a good way to find a mate. For one thing, credit score dating sites rely on self-reported and unverified scores. Which means, you may think you're getting someone with a 700-plus credit score only to wind up with an average Joe with maxed out credit cards. And even if the scores are accurate, financial experts say that credit scores are no longer a good predictor of financial stability. According to a recent study, the difference between the scores of borrowers who paid on time, and those who defaulted was a measly ten points.