Hey guys,
I'm really in a foul mood. I was going to go out and buy a new computer today but I got turned down on the financing.
I had decided that I wanted one of the new iMacs (20'' intel core). I didn't have the cash for it, maybe about half--so i went to the Apple Store online and applied for the Apple Credit card. I was declined.
It makes me so mad how credit is determined. I've had a few minor issues with credit in the past, but I've dug myself out of them and paid everything off. I once was in debt about $5000 combined on credit cards which isn't all that bad--but because I ended up losing my job at the airport in the immediate wake of 911, the result was I had a period in which I was barely able to pay my bills. I had a very stable income before 911. Who could forsee that mess? I went to a not-for-profit credit consolidation service to try to get my debts paid off. It took me a few years, but I did it. I'm debt free.
My car is also paid for. My parents had to co-sign for some reason when I got the loan, but it's paid off, and I paid every goddamn penny myself. Here's what gets me though. A few times I was late on my monthly car payment...yet I paid my car off six months early. That counts for nothing though, they want to sit there and hector me for the few times that it was late, when overall, I repaid the loan off early. I don't get it.
Also, somebody told me that going to a credit consolidator looks bad on one's credit report. This makes no sense to me either. I actually did the responsible thing to make sure my debts were paid. So not only did I pay the principle of all my loans, but I also paid an exorbitant amount of fees and interest to these damn creditors in the process. They actually probably do a good business of kicking people when they're down. I battled back and made sure that all my debts were taken care of, and what do they do? They give me a bad credit rating. It's not like I defaulted. It's not like I ran for bankruptcy. No, I worked around the clock to pay off my debts.
I'm 31 years old and I've learned from my experiences how to avoid some of the pitfalls that were a blight on my 20's. I don't use credit cards much, because I'd rather avoid the risk of falling back into a hole. So since I haven't applied for any credit cards (I only use debit) since coming out of debt I haven't been building my credit back up. Which I guess is bad.
Here's what galls me though. These credit card companies do all they can do to take advantage of people in their late teens and early 20's and try to get them in debt, so they can have them on the hook for years. Raising rates, and fees all the way, once the hook is set. It's almost predatory how they offer credit to people in an attempt to get them to bite. They're as bad as tobacco companies. So here I am, 31 years old, I've paid off two car loans and tens of thousands worth of credit card loans over the course of my life (I used to have good credit before 911)-- I can't get financing on a damn $2000 computer. Yet if I was ten years younger, more naive, and had never bought anything major before in my life, these same creditors would be offering me $2000 credit lines all over the place.
Why, when I've paid my pound of flesh, do these people have to keep kicking me. F*cking usurers. One of my brothers friends has it even worse. He was late twice on his car payments in the past. He was getting a home loan and when they noticed the two late car payments, it changed the interest rate to what amounts to the house costing $50,000 more over the course of the loan. Ridiculous. These creditors intentionally put people at risk of falling into debt, and then try to look all respectable when they decline me for a loan. It's maddening. I don't understand finance I suppose. I guess I'll just wait a few more weeks til I have the cash for a new computer. What should i do then, try to get a credit card, then pay with credit card, then take the cash I had in my pocket anyway and pay off the credit card, thus trying to build credit? It's a really stupid roundabout way of doing things. I really don't want to play this game, but I guess I have no choice. I wonder what I ought to do...
I'm really in a foul mood. I was going to go out and buy a new computer today but I got turned down on the financing.
I had decided that I wanted one of the new iMacs (20'' intel core). I didn't have the cash for it, maybe about half--so i went to the Apple Store online and applied for the Apple Credit card. I was declined.
It makes me so mad how credit is determined. I've had a few minor issues with credit in the past, but I've dug myself out of them and paid everything off. I once was in debt about $5000 combined on credit cards which isn't all that bad--but because I ended up losing my job at the airport in the immediate wake of 911, the result was I had a period in which I was barely able to pay my bills. I had a very stable income before 911. Who could forsee that mess? I went to a not-for-profit credit consolidation service to try to get my debts paid off. It took me a few years, but I did it. I'm debt free.
My car is also paid for. My parents had to co-sign for some reason when I got the loan, but it's paid off, and I paid every goddamn penny myself. Here's what gets me though. A few times I was late on my monthly car payment...yet I paid my car off six months early. That counts for nothing though, they want to sit there and hector me for the few times that it was late, when overall, I repaid the loan off early. I don't get it.
Also, somebody told me that going to a credit consolidator looks bad on one's credit report. This makes no sense to me either. I actually did the responsible thing to make sure my debts were paid. So not only did I pay the principle of all my loans, but I also paid an exorbitant amount of fees and interest to these damn creditors in the process. They actually probably do a good business of kicking people when they're down. I battled back and made sure that all my debts were taken care of, and what do they do? They give me a bad credit rating. It's not like I defaulted. It's not like I ran for bankruptcy. No, I worked around the clock to pay off my debts.
I'm 31 years old and I've learned from my experiences how to avoid some of the pitfalls that were a blight on my 20's. I don't use credit cards much, because I'd rather avoid the risk of falling back into a hole. So since I haven't applied for any credit cards (I only use debit) since coming out of debt I haven't been building my credit back up. Which I guess is bad.
Here's what galls me though. These credit card companies do all they can do to take advantage of people in their late teens and early 20's and try to get them in debt, so they can have them on the hook for years. Raising rates, and fees all the way, once the hook is set. It's almost predatory how they offer credit to people in an attempt to get them to bite. They're as bad as tobacco companies. So here I am, 31 years old, I've paid off two car loans and tens of thousands worth of credit card loans over the course of my life (I used to have good credit before 911)-- I can't get financing on a damn $2000 computer. Yet if I was ten years younger, more naive, and had never bought anything major before in my life, these same creditors would be offering me $2000 credit lines all over the place.
Why, when I've paid my pound of flesh, do these people have to keep kicking me. F*cking usurers. One of my brothers friends has it even worse. He was late twice on his car payments in the past. He was getting a home loan and when they noticed the two late car payments, it changed the interest rate to what amounts to the house costing $50,000 more over the course of the loan. Ridiculous. These creditors intentionally put people at risk of falling into debt, and then try to look all respectable when they decline me for a loan. It's maddening. I don't understand finance I suppose. I guess I'll just wait a few more weeks til I have the cash for a new computer. What should i do then, try to get a credit card, then pay with credit card, then take the cash I had in my pocket anyway and pay off the credit card, thus trying to build credit? It's a really stupid roundabout way of doing things. I really don't want to play this game, but I guess I have no choice. I wonder what I ought to do...
