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Established Contributor
Posts: 619
Registered: ‎09-26-2011
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Living in credit "fear"

As the closing date looms on my new house, I find myself obsessing over my credit more and more. One year ago today, my FICO was 568 and I was rejected, rejected, rejected.  Due to the circumstances, I'm going to be depending on some credit to get my new house up and running (appliances, for instance) and I'm petrified that I'll be rejected again or given a paltry $500 CL.  Do you ever get over that anxiety after coming back from crappy credit-land???

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
Posts: 515
Registered: ‎07-31-2012
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Re: Living in credit "fear"

My personal opinion: Our failures help define us, make us who we are. So I would have to say that feeling will always be there to an extent but you'll learn to push it aside. Isn't that one of the ways we learn what NOT to do?

What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: Living in credit "fear"

I know how ya feel!  Had so much fun the Monday after closing to get credit!  H.D. still denied us but Lowe's gave us a grand.  Credit Union gave us overdraft and Visa, and refi'd the truck saving us nearly 250 a month!!!  Which allowed me to go get a new (used) Subaru......After years of being told NO, too ashamed to even ask, taking a 24.9% auto loan cuz that's all we could get, it Sure Feels Nice!!!!!

 

You'll have a blast.  It's easy to rack up charges on the Lowe's, though, so be careful.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Regular Contributor
Posts: 244
Registered: ‎07-06-2007
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Re: Living in credit "fear"

I'm in the same boat, hopefully closing next week and those darn sellers didn't want to leave us a fridge lol so I think we're going to try for a Lowes card. I worry about getting good lines of credit as well. We'll also need living room furniture too, that could get expensive. But all I'm really truly worried about is getting the house and getting those keys, after that we'll figure it out :smileyhappy: I'll buy used if I have to!

9/1/2012 ...DRUMROLL .... EQ .. 776!!

I'm FINALLY a homeowner .. 10/24/12!!!!

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Contributor
Posts: 87
Registered: ‎03-22-2010
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Re: Living in credit "fear"

I was the same way! When I refinanced back in 2009, my score was 621...the cut-off for FHA was 620.  I fell off the wagon 2x since then, and regret it.  But, when you're used to and expecting a NO, and hear, yes, you're approved...it's such a good feeling!  I got Home Depot & Lowe's and have learned to stay out of there unless I have a specific need.  but, I usually take advantage of their 0% interest promotions.  So, keep an eye out for those promos and use them.  Lowe's will price match, too, so when I got a new washer last year, I saved almost $100 off their sale price, plus 0% interest for 18 months with free delivery and hook up.  Enjoy your new home...you deserve it! 

Valued Contributor
Posts: 1,670
Registered: ‎05-24-2007
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Re: Living in credit "fear"

You guys are so spoiled. Nobody "needs living room furniture".

 

I can recall buying a house and doing without a refrigerator for 4-6 months until I could afford one. It was several months after that until I could afford a TV.

Valued Contributor
Posts: 1,594
Registered: ‎03-11-2009
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Re: Living in credit "fear"

You are bringing back memories of when we were first married.  We had about $25 cash, that was it.  Our rented duplex was $80 a month.  We  only had the wife's bedroom set and that was it.  Our dinette set consisted of a card table and two chairs.  The landlord felt so bad he supplied us with an old used couch for the living room.  That was how we lived for the next year until we could save some money.  As hard as that time was, I wouldn't trade it for the world.  It taught my wife and I, ( we were only 19 and 20 yrs old ), how to pull together.  We were together for next 41 yrs.  You can't expect to have everything you want from day one, you need to earn it first.  Believe me, you will appreciate it more by doing it that way. 

FICOS
TU 794 2/21/15
EX 806 2/8/15
EQ 820 2/21/15
NASA 30K / / Amex 20k / / Chase Freedom 10.6k / / / / / SD'd US Bank Cash+ 20k, LOC 15k
Goal - At my age, just staying alive
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Living in credit "fear"

We've been in our new home now for 18+ months. Still no living room furniture. People are greeted to an empty room, and it's a conversation starter too!

Frequent Contributor
Posts: 309
Registered: ‎04-04-2012
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Re: Living in credit "fear"


Imhotrodcrazy wrote:

You are bringing back memories of when we were first married.  We had about $25 cash, that was it.  Our rented duplex was $80 a month.  We  only had the wife's bedroom set and that was it.  Our dinette set consisted of a card table and two chairs.  The landlord felt so bad he supplied us with an old used couch for the living room.  That was how we lived for the next year until we could save some money.  As hard as that time was, I wouldn't trade it for the world.  It taught my wife and I, ( we were only 19 and 20 yrs old ), how to pull together.  We were together for next 41 yrs.  You can't expect to have everything you want from day one, you need to earn it first.  Believe me, you will appreciate it more by doing it that way. 


Very well said!  My husband and I had used everything when we first started out, or we did without.  We either bought from friends that were selling or yard sales.  Years later I sold them for double what I bought them for.

 

Regular Contributor
Posts: 171
Registered: ‎06-15-2012
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Re: Living in credit "fear"

For me, it's not just credit fear - it's "not having any financial stability whatsoever" fear.  I always have to double-check, usually in the restaurant parking lot, that I have enough for the meal if I'm planning on paying with a debit card. I've driven cars with expired tags, so I still get a "uh-oh" kind of feeling when I see a police car as I'm driving in traffic.

For me it was really all tied in with a part of my life where I wasn't taking very good care of myself. Fortunately, I'm not in that position any more.



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