Credit and Love Relationship

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“And I will always love you…” the famous song from Whitney Houston’s Bodyguard soundtrack was the song I thought of when relating credit and love. When you love someone you do things out of the ordinary. The same goes for credit.  You should love your credit, care for your credit, and go the extra mile to care for your credit.
 
Not giving attention to your credit can hurt you in the long run especially when seeking a job in the financial sector, obtaining a mortgage, or applying for a new credit card. Let’s explore how credit and love are the related. 
 
Don’t commit if you’re not ready
Protecting your credit is like defending your love one, you can tell people you have a good credit score but do not let them mess it up. A family member once asked me to co-sign with them on a mortgage loan for a house, and I said no. I love my family, but I knew that I would have to be responsible for the loan and I was not ready to commit to the loan. If you do not feel comfortable taking on the responsibility then do not be a co-signer.
 
Check up
Credit card companies are now offering FICO scores updated on a monthly basis. Every time you make a monthly payment check your credit score for changes, good or bad. Don’t forget to do your yearly credit check to monitor what is on your credit. Checking up on your love one is important just like your credit. You may not have the time to get daily updates on your credit, but monthly and yearly check-ups are necessary.
 
Analyze but don’t obsess
When checking your credit read what loans you have in your name and what credit cards are open in your name. If anything is out of the ordinary get it fixed. Examine the details but don’t very overly obsess because you may overthink on details that are not important. For example, having several credit cards open is not a bad thing; it helps your credit history. But do not max out all of our cards and do not have numerous credit cards that require yearly membership payment.  
 
Just like in love you want to make sure your relationship is going in the right direction, but you do not want to overthink every detail, you may look obsessive.
 
Credit and love have similar methods but different goals. Before committing make sure you're ready, check up and analyze your credit.

Mr.J

​Personal finance & entrepreneur educator and blogger. Follow Mr. J on social media @MrJRealTalk