Valentine's Day can evoke various emotions for different individuals. While some view it as a celebration of love, others see it as a reminder of heartache. However, for users of a new dating app called Score, it can lead to financial headaches. Score is a unique dating app that caters specifically to individuals with good credit, requiring a minimum credit score of 675 to join.
The app, developed by Neon Money Club, aims to bring finance into the dating conversation. Users' credit scores are not visible to others on the app but are used solely to qualify potential users. According to Luke Bailey, co-founder and CEO of Neon Money Club, the goal is to raise awareness about the benefits of a good credit history. Bailey believes that before educating people about financial matters, it is essential to capture their attention, and Score does just that.
This new app comes at a time when finances have become a significant challenge for many couples. A recent study conducted by Fidelity Investments revealed that money is the primary source of conflict in relationships for 25% of couples. While nine out of ten couples claim to communicate well, over 45% admit to occasionally arguing about finances, with 25% pointing to money as the biggest challenge they face.
Score is not the only dating app experimenting with financial barriers. Tinder has introduced an "exclusive membership" that requires an invitation and approval from the app, along with a hefty monthly fee. Reports suggest that the Tinder Select membership costs $499 per month, amounting to nearly $6,000 for a year.
Valentine's Day can be a time of love and celebration, but for some, it can also bring financial concerns. Apps like Score and exclusive memberships on platforms like Tinder are changing the dynamics of dating by incorporating financial aspects into the equation. As more apps explore this concept, it remains to be seen how individuals will respond and whether financial compatibility will become a significant factor in modern relationships.