How do I talk about my bad credit rating with my boyfriend?

Question

I have a truly amazing boyfriend. He's literally everything I could hope for: smart (has his MBA), compassionate, supportive, generous, and stable. I'm completely mortified by this, but when I was younger, I was irresponsible with my finances and my credit rating went down as a result. I am working to clean things up, but I know that these things take time. He owns his own house and is very fiscally responsible. I have a feeling that this relationship is going to end up serious (i.e. moving in together/getting engaged). We've never discussed this topic and honestly, I don't want to bring it up! How do I craft an appropriate response when the time comes? I have everything else in my life together and have always managed things on my own...how do I deal with this? I am so scared that this could be a dealbreaker... He adores me and I know that I bring so much to relationship, and this is something that I am working so hard to rectify.

And no..I do not have $30K in credit card debt (as one person mentioned), very little credit card debt, just a few collections, and my student loans from college. I didn't rack up a lot of credit card debt at all...I am not flaky, when I lived in Seattle I held the same job for six years, when I lived in Manhattan, had the same job for the four years that I lived there, and I am now working on a year in Phoenix, and I've always paid my rent on time, etc.

Answer 1

You're being too hard on yourself. No one should judge a person by mistakes made in their past - especially when they've learned from and fixed them! Just explain it like you did above (though don't sound too defensive or down on yourself - LOTS of people make dumb financial mistakes in their youths!) and I'm sure he'll understand.

If he doesn't - or puts you down - or questions the person you are now, chances are he's not the wonderful guy you think he is. Good luck!

Answer 2

I work in the banking industry and I can say that credit does say a lot about you. I know this seems cold but I swore the next girl I dated I would pull all three bureaus and check her credit. Girls I've dated who had their life together had good credit. Not to anyone's surprise, the girls with crappy credit also had the most issues and were flakey. There is a direct correlation between credit history and your personality. That is why your auto insurance premiums and even future job offers are based on credit.

If you guys are in love I'd doubt he kick you to the curb. However, the older I get, the more I consider these factors when I'm a relationship. If these were truly issues in the past (like 2 years ago, not 2 months ago) and you are cleaning up your credit it shouldn't matter. However, I would be leary of a girl with bad credit and 30K in credit card debt. I might marry this woman and take on her debt in the process.

Honesty is the best policy. At least disclose these things up front if you guys are really serious.

Answer 3

How do you talk about anything important with your boyfriend? You lay it out there, honestly, but with a plan to change. It'll be a good test to see where he stands and how he responds to the issue, no matter what the issue. Does he let you handle it all? Does he offer some of his strategies? Money is a huge issue in relationships and you should be honest so he can make an informed decision about you and visa versa. If it were me, I'd bring it up before the subject just came up. Don't ever hide things when dating.

Answer 4

Have seen lots of people asking info on bad credits. Well, if you need to get your problem solved onarrange loans or other finance, and usually means you will pay more interest on any loan you take out.

Answer 5

Bear with me here, but I bet you two probably have pretty good sex. Why? Because you probably communicate about it, and you understand each other. Sure, it might seem awkward sometimes, but my guess is that you're able to talk and really get to the heart of the other person's needs, wants, desires, and understanding. It's a very healthy thing to do.

Matters of finance are just like sex... uncomfortable to talk about, but SO much better after you do.

Be strong, bring it up, and don't withhold anything. It will be uncomfortable. It'll be awkward. Trust me--I've been there. But if you've got your act together now, he'll recognize that and offer his understanding.

It's just that simple.

Answer 6

weak credit isn't consistently, yet frequently a symptom of irresponsibility. So the question isn't regardless of if his weak credit will injury your solid credit, yet why you may evaluate marrying an irresponsible man or woman. If he's irresponsible with funds, he's possibly irresponsible in different techniques too. weak credit may be fastened, by utilising learning the thank you to be responsible and then behaving that way with consistency. tell him you will purely marry him after he exhibits you that he's keen to do the artwork it may take to be a responsible husband by utilising showing you a solid credit report. If he works at it complicated, it may purely take him a twelve months or so. that is an extremely small investment to make confident to're marrying somebody who would be a responsible husband.

Answer 7

Just tell him there was a period in your life that you didn't really understand money and credit that well, and made some mistakes. However since then you've wised up and are fixing things.