Studies in the US show that the higher the My Score, the more likely you are to quit singleness in the next 12 months.
4 min read
Original note published in High Level
By Wolfgang Erhardt
The day of love and friendship is just over Did you start or have a relationship and now you’re going to move in together or even get married? If so, congratulations, I wish you all the best.
What you may not know is that there is a connection between love and credit in an unexpected place: in your dedicated credit report and in My Score, available at www.burodecredito.com.mx.
No, Buró de Crédito is not a love agency, but a credit information company. The credit agencies report their database there at least once a month. With this information, Buró de Crédito creates the credit reports. The information contained in the credit report is then fed into a mathematical algorithm that results in a risk assessment My score, this is the probability that a customer will have to pay a credit well in the next 12 months. The My Score score ranges from 400 to 850 points. The higher the score, the lower the risk. In other words, the customer made good decisions. A low score indicates otherwise.
Studies in the US show that the higher the My Score, the more likely you are to quit singleness in the next 12 months. Additional studies explain this logic: as part of the criteria for starting a relationship The people there are looking for financially stable and responsible couples who therefore have a good My Score, which makes it easier to access an apartment or house. Nobody wants to live with in-laws.
If you haven’t found love online during the pandemic, it’s still worth updating your profile picture to include your My Score.
And if there are already two of us, what can our My Score tell us? Well, if the My Score of both are high and also similar, there is a 70% chance that this relationship will be stable and lasting.
However, If the difference in score between you and your partner is different, the odds of winning change. The greater the gap between My Scores, the greater the likelihood that the relationship will be short. Studies suggest that the score may reflect a style of managing personal finance. For example, poor handling can cause stress and arguments in the couple.
The study shows that, If the difference between “My Score” is 66 points or more, there is a 24% chance of a breakup in the next two to four years and a 12% chance. Chances of this happening in the fifth or sixth year.
For how complicated and expensive divorces are, it can be a good idea to be transparent with the potential or current partner to see how we are doing.
Interestingly, in the US, 65% of people say they talk to their partner about personal finance, and 85% are willing to help their partner improve their credit report and thus their My Score levels. Not knowing how to help your partner, the best thing to do is ask for their My Score credit report and then use your advisor’s service for advice on how to improve.
Editor’s note: This text is part of our opinion and only reflects the vision of the author, not necessarily the high level perspective.