Tuesday, February 2, 2010

Give Me a Little Credit, Please.

Lately I've been pretty frustrated with the banks. I'm a sensible girl, no credit cards, no outstanding loans, still driving the old paid off Jeep from high school, decent savings account. 

I recently applied for a home loan and was denied on the basis that I have no credit history. And you know, that sucks. I thought I was doing the right thing by not racking up a credit card or taking out student loans. I thought paying rent and utilities on time for two years would do some good.

And according to the loan counselor, this time last year, it would have.

So I decide I'll get a credit card, put my groceries on it, pay it off on time, maybe take out a small loan and pay it back right on time. I can get my credit up. Credit card application number 1: DENIED. Credit card application number 2: DENIED. I don't qualify for any small loans, I don't even qualify for a Gap card. Joel finds himself in the same predicament, and in order to take out a loan, he has to back the entire loan up with a savings account, then jump through a handful of hoops after that.

I do feel something is wrong with this system. It's seemingly impossible to build up credit if you don't already have some. Yea economy!

I do, however, have a secret weapon against you Uncle Sam, and you can't stop me. My secret weapon is my awesome Uncle K who is willing to add me to his credit card account and teach me the ways of the banker. 

So for that, I say thanks, for helping me to my feet, and pushing me in the direction of being able to invest my money in something. U.K., you're the best.

He's the one on the left with the bowl cut.