There’s no denying the simple fact that the quality of adult life rests largely upon the three little numbers derived from the sum of everything on a stupid credit report file. Daily credit, car loans, home mortgages, even jobs in some cases, all care about this number and use it to judge whether you’d be a good risk – as a consumer, an employee, or anything freaking else it seems. I hate that something so impersonal wields such power.
Once upon a time I had a very carefully managed and controlled credit file of stellar quality. I worked hard for it, was quite proud of it, and planned to keep it so for the duration. Then all hell broke loose in my life.
Oh the joy of trying to recover from extended unemployment, various changes in life circumstances and the resultant credit file disaster! After spending a few months cleaning up old stuff, I’m finally ready to start trying to rebuild. To say that I’m starting over from the abysmal depths of hell is probably an understatement, but we are hoping to buy a house of our own within the next year or two, so begin again I must.
Step one: take care of old business. Done.
Step two: rebuild – in process. Obviously, no one is going to extend me any credit with my current score, despite the fact that prior to everything in my life falling apart at once my credit history was stellar. Time to research options for secured credit cards. It’s a treacherous journey, considering the insane rates and fees associated with most of the lower tier options, which is where I’m starting out. There are tons of sites rating and explaining all of the different banks, credit unions and companies with secured card offerings, so this morning I’m perusing the options. I do still have one or two accounts in good standing that were paid off prior to my financial disaster and remain open (though I don’t understand why…) that I might be able to use as well to start climbing out of the gigantic pit I’m in, but as all people trying to rebuild credit, the penalty is definitely higher prices, higher rates and higher maintenance fees with crappier customer service (or so it appears). Whatever, I’ll take it, for now.
Hopefully this is the last time in this lifetime that I need to do this, because really, who the heck wants to be trying to start all over in their 40s+?!
Not I … *sigh* not I.
Allow me to show my age here (HA!):