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Your Credit Report Is Getting More and More Important

By Liz Wallace

Real Estate Broker/Owner with Century 21 Sherlock Homes

January 29, 2013 12:57 AM

Anyone in this industry knows how important a credit report is. Hopefully most people of any intelligence know how important their credit report is.

I tell people all the time that they should schedule a check of their credit like they schedule a visit to the doctor. Even if you are not about to buy a house or new car it's good to keep a check on your credit.

Even getting a good rate for insurance depends on your score.

Well Ladies and Gentlemen there is a new reason to know your score and keep it high. I heard a story today that instead of asking a potential sweetheart what their sign is like they did in my day, people are asking what your score is.

One young woman was out on a date and really interested and he seemed so too. He asked what her score was and she said she had no idea. She said she could see the whole thing fall apart. He felt she was financially irresponsible and never asked her out again.

So weigh in on this, let me know what you think. It seems to be a lot more important than if you are a Leo.

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Roger D. Mucci

Shaken...with a Twist 216.633.2092 - Euclid, OH

Lets shake things up at your home today!

Oh my, Lizzie, I think I'd have had two words for that guy, and you can bet your last dollar they would NOT have been "Happy Birthday"..................brings dating to a whole new "low".

Jan 29, 2013 12:59 AM

Dan Hopper

Dan Hopper - Gold Way RE - Westminster, CO

Colorado Broker / Referral Services

You are correct, Liz. Credit ratings are KING. It is very important to understand what is on them and how activity affects the scores. Now, learning what things can change scores up and down is always a challenge, since we are still trying to learn HOW these credit companies talk to each other.

Jan 29, 2013 01:00 AM

Robert Rauf

CMG Home Loans - Toms River, NJ

It is important... in my world, My credit is run every year to maintain my NMLS Fed and State License. Right down to clients getting their utilities on... it is a big piece of every day life, so it makes sense to ask the perspecive Significant other about it!

I drill it into my kids heads now that they are in college and starting with credit - I even gave them the flyers I send out to my business partners to help explain how the pieces work..

Jan 29, 2013 01:06 AM

Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

May be a little harsh for a first date, but ultimately I know how important it is. Been there and done that with being on joint accounts with someone who's credit score needed some improvment.

I guess I'm not really sure when that conversation should be had... perhaps before things get serious, but I just don't see it as first date material.

Jan 29, 2013 01:21 AM

Erna Neal

The Viking Team, Realty - Winter Park, FL

A Knowledgable Central Florida Realtor

Liz, wow that's one way to get to the meat and potatoes right away. I think it's a bit uncouth to ask that on a first date though.

Jan 29, 2013 01:42 AM

Steven Cook

No Longer Processing Mortgages. - Tacoma, WA

Liz -- saw that information a couple weeks ago. It is an interesting approach to determining who to have relationships with. One thing we recommend to our clients is to only pull one credit bureau report, and then four months later pull another, and four months later the third, then repeat. That way, generally speaking, if something wierd pops up, you know about it relatively soon, instead of it festering for many months before you are aware of it (if you pull them for free at once, one time a year).

Jan 29, 2013 02:56 AM

Liz Wallace

Century 21 Sherlock Homes - Rockville Centre, NY

Broker C21 Sherlock Homes, Rockville Centre, LI, N

I was surprised when I saw this but then I thought maybe not such a bad idea, just not on the first date. Maybe this younger generation is more focused on their future and less impetuous.

Jan 29, 2013 03:28 AM

Kristine Ginsberg

Elite Staging and Redesign, LLC - Short Hills, NJ

NJ Home Stager

Liz - if someone asked me my credit score on a first date or 5th for that matter, I'd BE DONE WITH HIM! Regardless of your credit score, that is such a personal question, it's rude and obnoxious! I might say to him, "Show me your W-2 from last year and then we'll discuss my credit, LOL! IMHO she dodge a loser!

Jan 29, 2013 03:31 AM

Susan Emo

Sotheby's International Realty Canada - Brokerage - Kingston, ON

Kingston and the 1000 Islands Area

I agree with asking: Money is usually the cause of most marital fights. People need to be aware of spending habits and histories. If you're going to have a future together you have to answer for your past :)

Jan 29, 2013 04:08 AM

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL

708.921.6331 - 40+ yrs experience

Liz: What do they say? Great minds think alike! Our posts could go hand-in-hand today. We need to keep preachin' on this topic ... so I applaud you.

Gene

Jan 29, 2013 04:56 AM

Kathy Sheehan

Bay Equity, LLC 770-634-4021 - Atlanta, GA

Senior Loan Officer

I don't know that it would be on the first date, but certainly at the beginning of the relationship. Money, credit, etc. is so important and needs to be openly discussed. I would not want to mingle my finances with someone that hasn't learned how to manage theirs.

Jan 29, 2013 12:07 PM

Your Credit Report Is Getting More and More Important

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