Re: What causes the "app itch"?
03-23-2012 07:01 PM
For 10 years, I couldn't get credit to save my life! After waiting 10 yrs for a BK to fall off, and another 2 to rebuild credit, it's such a nice feeling to know I can be approved for credit again. It's like I'm in a club that I couldn't join before.
I think Frugal is right. In so many ways, credit is something we have no control over. We can't control our FICO. And one mistake -- like heaven forbid be 1 day late on a payment -- stays with you for 7 years. IMO, that's very punitive. Apping is one area where we do have some control. We can choose to app or not. So, it could be exerting control in a situation where we have very little.
I get so excited about getting credit that I have to remind myself it's not really a big deal. I mean, it's not free money. If I charge something, I have to pay for it, and if I don't PIF, then I pay through the nose in interest (which I'm unwilling to do). Credit is really a means to an end -- you *need* credit to get things you want -- like a car and house. The cards themselves really shouldn't give me such a buzz, but they do.
Last App: 9/2012
Goal: No Apps until 2/2014 & FICO over 700