I lied. That's another thing you can't get with an N/A credit score. Unless you want the cards for bad credit that charge $200 annually in fees or the prepaid cards for such people as those who've declared bankruptcy or are 14 years old.
I wonder if Wal-mart will give us a card even?
I'm all for tightening up on passing out loans. Out of control, irresponsible lending is part of what landed us in our present economic depression. I remember back in the day when we bought our other houses and the car it was ridiculously easy to get a loan, too easy. Proving financial responsibility makes sense. However, it is frustrating that it is the credit sharks who control the whole system. If you haven't used their services then you are deemed unworthy of their loans. No other method of proving financial responsibility counts. Well, there's my soapbox. I return to my financially responsible but houseless life.
5 comments:
Wow...I never realized that. It makes sense, I guess, that paying your bills is the way to show financial responsibility. But, I agree with you--there should be an alternative for people who are credit-card and debt-free...I remember when I felt I was ready for my first credit card and I would read all the ads that came in the mail offering them. I finally settled on the Capital One Visa, which didn't have a fee for first-timers.
Well I don't know how you could have bought 2 houses in the past, paid cash for 2 cars, and as a family of five lived so frugally for the past five years. Oh well. Follow your heart! Someone is bound to take your money.
Kristie, paying your credit card bills counts, but proving that you pay other bills (like car insurance, utilities etc) does not. Apparently some banks will work with you using utility payment and rent payment history but most just dismiss you out of hand if that's all you have.
I am so so very sorry.
Oh! That totally stinks. I hope you can find something.
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