myFICO Heart/Credit Connections Survey

Overview — In January, Fair Isaac Corporation’s consumer division, myFICO, conducted its first national consumer survey on the intersection of America’s attitudes on credit and romance. Fielded by Opinion Research Corporation, the survey revealed that most adults approach romantic relationships with a canny respect for their partner’s financial responsibility.

Key Results

• Financial responsibility tops sexual compatibility – Based on the responses of people nationwide, the American public is twice as likely to select financial responsibility (22%) as sexual compatibility (10%) as a personal trait that has sustained personal relationships they are in now or have been in over the years.

• Financial problems create more stress than does infidelity – The survey found that few things can put more stress on a personal relationship than financial woes. A third of respondents reported that a lack of financial responsibility hurt their relationships more than not being faithful (22%), a lack of affection (21%), or a lack of a sense of humor (16%). Problems paying bills late was cited as often as problems with in-laws or relatives as stressful situations that put pressure on a relationship with a significant other.
  

• Reluctant to reveal credit score to one’s mate – Although half of respondents (52%) consider honesty to be one of the most important qualities for sustaining a relationship, the survey also found that Americans guard their personal financial information closely. While almost two-thirds of respondents (62%) had been told or seen a report about their credit score, a third of this group (33%) admitted they would be reluctant to share their credit score with a significant other. According to survey results, more married people (62%) would tell their score to their significant other than would single people who have never been married (53%).

• A fine line between romantic and “financially foolish” – More than half (57%) of consumers think it would be wonderfully romantic if their significant other booked tickets for a surprise international trip, while nearly everyone (94%) regards going on a shopping spree as financially foolish when it maxes out a credit card.

• Friends advise friends on love and money – When advising others about romantic commitment, 83% of adults recommend checking out the sense of humor of a potential love interest. Almost as many would counsel a friend to learn if the other party has a steady job (78%) and has a good credit history (76%).

• Women emphasize a potential mate’s credit history more than men do – Women counseling friends emphasize having a steady job (88%) and good credit history (84%) as important qualities to consider before entering into a romantic relationship. Men advising friends are more likely than women to emphasize a potential partner’s sense of humor (85%) and kissing ability (42%).

• Grandparent knows best – People who have the most life-experience are especially sensitive to the heart/credit score connection. Among those age 50 and older, 86% recommend learning about a person’s credit history before making a romantic commitment.