I am so tired of being a "second class" citizen because I cannot get credit. I know the mistakes I made when I was younger (and boy did I screw up), but I'm now only in my early 30's, I've already filed bankruptcy and now no one will give me a break! Who are these people who got their lives back on track after filing bankruptcy? I tried applying for a small personal secured loan, I was denied because of my bankruptcy. I cannot get a credit card without being charged out the nose for interest and "one time" start up fees of what, $100 or more... come on! And a secured card? Why would I want to put $200 in an account, so I could spend it and then have to pay interest on the money I already gave them when I could just keep that $200 in my checking account and pay cash for my needs. At this time, I have no delinquent credit marks on my reports, all I have are 3 public records (1 bk, 1 jdgmt, paid and 1 jdgmt, discharged). I work full time, pay all my bills on time, I am a different (older, wiser) person. But no one cares... I'll never how it feels to walk into a car dealership and actually treated fairly, nor will I know the joys of owning my home... I'm done belly-aching. Thanks for your eyes, I appreciate the vent.
Feeling Low wrote: ------------------------------- "... Who are these people who got their lives back on track after filing bankruptcy?" They are people who realized they needed to utilize an intelligent strategy to rebuild a credit profile that they had trashed. "And a secured card? Why would I want to put $200 in an account, so I could spend it and then have to pay interest on the money I already gave them when I could just keep that $200 in my checking account and pay cash for my needs." Because it is part of an intelligent strategy to rebuild your credit profile. Creditors like to see a history of consistent payments, you can create that history with a secured card. You are fortunate in that you know what creditors want to see on your credit file- and despite the fact that you have commited the credit holocaust of BK- you have it within your means to create the credit profile that creditors want to do business with. "I am so tired of being a "second class" citizen because I cannot get credit..." You have been feeling low instead of pursuing an intelligent strategy to get credit. You have the knowledge and the opportunity to rejoin the living. Is this a great country or what? Get you a big ole piece of life MR. Feeling Low, good luck!
I hear you ...but grow up I know someone who filed for bankruptcy about 7 years ago and has three 3 more years to go for it to come off his credit report. But he is already struggling again with another set of credit card debts with Capital One and Providian. He drives a junky car and just bought a 1997 domestic at 23% interest for his wife. All the hours he works only to pay interest and get by. This guy is already 33 and he still lives in an apartment (with his wife, who is also a loser). You may think me insensitive, but you can't teach a new dog new tricks - everybody reverts to type. This guy just lives on his impulses. You are doing the same thing. Learn to save money! I know it's hard, but tough. Grow up and be a man and learn to honor your word.
How could not having credit mean you cant *own* a home? Owning a home means you PAY CASH for it, not a mortage.
There is hope Take $300 and open a secured Capital One or Associates card. These companies do not charge rediculous "prosessing" or "one ime acceptance" fees that other issuers charge, American Express also offers a Secured Optima card as well. Use the cards for groceries, gasoline, heck, any monthly necessity... BUT NOT for anything you don't already pay for each month. Pay your tax bill, utility bill, whatever, just use the card(s) and pay it down each month. Leave a small amount still owing each month and pay the finance charges. The when you are able, open another small card and do the same thing. Wait one year and see where you are credit wise. Bite the bullet and pay for your past mistakes, you'll be glad you went to the trouble. Instead of knocking these companies for their offerings, you should be thanking them for helping you out of your self-created misreable rut. Good luck.
