Would you date someone with a bad credit? Here's what Gen Z, Millenials say

In the world of modern dating, with Tinder, Hinge, Instagram, and Facebook, finding a partner is largely based on photos, clever bios, and shared interests.

We ask about favorite foods, favorite colors, hobbies, or even weekend plans.

But when do you, or should you, ask the real question: "How is your credit?" 

Do you wonder if they have excellent, good, fair, or poor credit? Finding a compatible partner has always been a complex puzzle.

As the cost of living rises, we look beyond a good sense of humor and a genuine connection and consider financial stability as a key concern. 

A new question is emerging: "Does your partner's credit matter?" 

In relationships, money has been seen as a taboo subject often discussed years into the partnership. It may seem "unromantic" to bring up topics like debt and financial responsibility on a first date.

With the shift in times, Gen Zs and millennials are burdened with student loans, high housing costs, stagnant wages, and bank loans; the generations are aware that a partner's credit score can directly impact major life decisions.

From renting a house together to securing a mortgage, the two generations are forced to deal with things more sensibly and realistically, based on a more practical than a theoretical approach.

In this article, we will examine how the two generations are navigating love and finance, and what they had to say when asked the question: Would you date someone with bad credit?

What is bad credit?

Bad credit is simply from missed or late payments, or defaulting on loans and credit card arrangements.

This indicates a higher risk to lenders and makes it difficult for one to get approved for loans, mortgages, or new credit cards.

Unlike previous generations, the playing field is dramatically different for millennials and Gen Zs. These generations entered adulthood amid a storm of economic challenges.

As a result, many are navigating their financial lives with heavy burdens. This impacts the ability to save, invest, and build positive credit.

The new level of income instability and stagnant wages has made it difficult to keep up with the rising cost of living. Essentials such as rent, healthcare, and food have become difficult to sustain.

A single unexpected expense, like a medical bill, can quickly lead to seeking alternative means to cater to this, which in turn could lead to bad credit. This reality has fostered a different conversation around money.

With this context, we can understand a bad credit score as a sign of "irresponsibility" or a reflection of the harsh economic reality. 

The millennial perspective

For millennials, their viewpoint about credit leans towards a long-term outlook and a more practical one.

For them, bad credit is not just a number, but a barrier; they are more focused on dating someone who is a foundational pillar of their future.

While navigating the complexities of their 30s and 40s, millennials view a partner's credit through the lens of long-term stability and shared responsibility.

Bad credit can be viewed as a barrier to their long-term stability; therefore, financial compatibility is a major consideration.

"Finance makes or breaks a relationship," says one millennial interviewee.

"If you guys are not able to pay your bills, you guys are not able to invest in something that can make you marry with your peers, in terms of social satisfaction, things are not going to work," added the millennial who thinks financial compatibility is quite important in a long-term relationship.

"If I am saving and investing, I expect the same for my partner," said another millennial interviewee.

"If you don't save and invest, that is a red flag."

This is something a millennial considers a financial red flag in a potential partner. This clearly shows that this generation expects a partner's financial state to be somewhat similar to theirs.

I asked one millennial if he would be willing to co-sign a loan for a partner with bad credit.

In response, he said, " It depends on what the loan was used for; if it was used for the benefit of the two of us, then it's okay, but mostly it should be a no."

"But again, you guys are in a relationship, so what you are supposed to do is support one another. If you are in trouble, I'm supposed to bail you out, I'm supposed to help you get out of trouble and help you not get into such trouble again," he added.

With these responses, their perspective on a partner's finances seems to take a more cautious and pragmatic approach. While they may be empathetic to circumstances, they are less willing to take on the "fixer" role.

They seek a partner with whom they are financially compatible, while viewing a lack of financial discipline as a major red flag for any serious relationship.

The Gen Z perspective

Gen Zs are seen to view a partner's credit from a more empathetic point of view compared to millennials, who focus on stability.

Growing up in an era of social consciousness and open dialogue around personal struggles and mental health, this generation is more inclined to understand the story behind someone's credit. For them, bad credit is not an automatic deal breaker.

They are more likely to ignore the bad credit and choose a partner who is actively working to improve.

I asked a Gen Z man what he would do when he discovers someone they are in love with has significant debt and bad credit. This is what he had to say;

"First, I would want to know the reason why they're in debt. Maybe their mom was sick. If it is something genuine, I can chip in and assist. This is a team, and we are here to assist and grow with each other."

With this response, it is evident that Gen Zs differ from Millennials. In stark contrast, Gen Zs approach the topic of a partner's credit with more empathy, valuing the context more than the actual bad credit.

Compared to a millennial who gave the importance of financial compatibility in a relationship a 10 (on a scale of 1-10), a Gen Z gave the importance of financial compatibility a 6. "We have to bring something to the table at the end of the day," said the Gen Z man.

In terms of financial red flags, Gen Zs view overspending as one. With this view, many Gen Z individuals opt to keep their finances separate from their partners.

Even with this independence, they appreciate a partner who is transparent about their financial struggles.

I asked a Gen Z individual if he would be willing to help a partner improve their financial situation. His response was;

"Yes, I can. First, by helping them get a stable job, assisting them to grow."

This contrasts with the millennial generation, who are less likely to pick up the"fixer" role. 

Gen Zs seem to focus on an individual's character rather than a bad credit that may be a product of circumstances beyond their control.

The common ground

Even though the views on bad credit seem to differ in both generations, a closer look shows a shared understanding and agreement.

Both generations share a similar belief that communication is essential.  A conversation about credit and finances is more important than the credit being bad.

To both, a person who acknowledges their bad credit and has a clear strategy to improve it is viewed as a responsible and trustworthy partner.

Whether it is creating a budget or paying down debt, this plan to fix the issue is considered an important factor for someone with bad credit seeking a partnership or relationship.

Hiding or being unwilling to talk and acknowledge bad credit are both dealbreakers for the two generations.

With these similarities, we can say that what truly matters is the person's character, transparency, and their commitment to bettering their credit to build a future together.

In conclusion

Dating someone with bad credit exposes the different priorities and economic realities of two distinct generations.

With millennials focusing on long-term goals and Gen Zs approaching the issue with more empathy, both generations agree that financial compatibility is a major consideration when choosing a partner.

Both generations confirm that what matters is a partner who is honest, willing to communicate, and committed to building a better future, and not perfect credit.

Ultimately, bad credit can just be numbers; responsibility, trust, and honesty are what truly count in a relationship for a bright future together..