How to Use Credit Cards While Dating


To avoid this effect it is best to stop mixing your credit with your emotions.

There is nothing quite as exciting as having a new love. Walks in the park, telephone conversations that last for hours, and a few restaurant trips here and there may be some of the in-demand activities. Of course, because of the emotional attachment that comes with being in love, one may be tempted to overspend on just about everything--more than they can really afford to.

While enjoying the dating scene, don’t forget to take care of your finances, especially when it involves your credit. One of the biggest blunders when it comes to this is to remember to not use your credit card to impress the person you are dating. Think about it for a moment. Is she really impressed when you borrow? Does it impress her more if you’re drowning in debt? Will it be impressive when you are challenged to pay it all back? In fact, the individual you are dating may or may not last forever, but your credit rating is here to stay.

Whether you like it or not, there is an effect to dating on credit. To avoid this effect it is best to stop mixing your credit with your emotions. Here are five ways to avoid this mistake.

1. Don’t allow your date to borrow your credit card.
Loaning your credit card to your loved one--even if you trust them--is too big a risk. Inadvertently, you lose control when your credit card is in the hands of someone else. Because the card is still under your name, all expenses charged with it will be your responsibility. In order to avoid this honest mistake, you might want to lend them cash instead, which is a lot less risky.

2. Don’t co-sign.
This is an effect of dating and using credit that brings more danger to the forefront. Even if you truly love the other person, don’t ever put your name on a loan for them. Chances are good, that should you undergo a break up, the other party may stop making payments on that loan. There are hundreds of stories about girlfriends or boyfriends who stopped making payments just because they suffered a split. Co-signing is a very risky idea-- even if you are talking about someone you truly love. Unfortunately, in the end, you might not be together anymore.

Along the same lines, don’t ever take out a loan for your boyfriend or girlfriend--no mortgages, car loans, personal loans, or home improvement loans. If you do, make sure to not put their name on the title of anything--a car, a house, a bike, or any other property or vehicle. If you are responsible for paying the bill, make sure the item is in your name. Otherwise, should you no longer be together, you will have no legal claim on these properties--even though you are paying for them.

3. Don’t get a joint credit card.

This is another mistake you should avoid at all costs. Again, just as allowing the person you’re dating to borrow your credit card, this one functions the same way. Since they have their name on your account, they can do whatever they wish with it--sometimes, to the point of charging something they can’t truly afford. Again, should you suffer a break up, the problem of “who is going to pay for what” comes to the forefront.

The point of having a joint credit card is that both of you are responsible for the payment. Any non-payment can have an effect on your credit score. To make sure your credit is safe you’ll want to do a credit check now and again to ensure you maintain a positive credit score.

4. Don’t use your credit card to impress.
Here is where it’s at: you use your credit card to impress the person you are dating and spend all the money you can muster. Then the bill arrives. What happens then? Even more of a problem is that, because you’ve used the credit card to impress, the one you are dating may see the real you--the one who is just using money to impress. The result might end up being a break up you won’t have a difficult time forgetting. Hopefully, when you check your credit reports, you will still be in a positive situation.

The best advice is for you to be yourself. You can do this without maxing out your credit card. Spend only what you can afford. Do you really want to date someone who is only interested in what you can buy them, anyway?

5. Don’t be fooled by online dating scams.

There are many people on dating websites right now who trick their partners into having a relationship, only to steal a horde of personal information and account numbers. Watch out for signs of a scam, such as seedy looking photos and remember--if it sounds too good to be true, it probably is. In effect, don’t give your credit card information to anyone online, and be wary of those who ask for it.