Thursday, May 05, 2011

Credit Scores: Hot or Not?

This post asks a great question - I don't recall that Lauren and I compared credit scores before we got married, and luckily enough when we needed them, it turned out that we were credit-worthy enough to 'score' stuff - house, car, racehorse, parachute pants...

The grueling, post-bubble loan approval process we just through went really makes me wonder what life would have been like if we didn't have the 'right' scores*, or worse, if one of us ended up resenting the others' 'wrong' ones. Credit score compatibility might be up there with religion and political affiliation in terms of determining how your marriage will turn out, but since it's not one of those obvious factors, but it's just lurking there in the background, waiting to blow up on you when you decide it's time to replace your garbage disposal or lease that new family car.


*How much of life is like that? I'm glad that I went to Michigan State, but it's not like I had the SATs for Dartmouth anyway. Somewhere (I dunno, Manhattan?) there's a guy my age with a 1580 running a hedge fund. Whatever.

2 comments :

Sarah said...

I was just reading an article somewhere by a guy who was struggling with a decision to marry his girlfriend because she carried almost $100,000 in student loan & CC debt. I'd like to think that love is enough to ignore that stuff, but that's not very realistic...it would take a whole lotta love to overcome $100k.

Jonathan said...

Yeah, that's tough. There must be a lot of variables there, like is the problem getting better or worse, and did they get in that situation accidentally or by buying cars and jewelry. I guess there's also a big difference in the liklihood of paying off $100,000 in med school debt vs. the same amount of English Lit and Visa debt.

So yeah, I'm with you, love should conquer all, but what a huge burden that must be when starting a life together, and that's assuming they don't add wedding debt! I wonder what he did.