There are a couple of folks in the Garden Club thread that are working towards earning their college degrees. This put me in mind of others on this board who are also still in school and are working towards their educational goals. My best wishes go out to all of you! But, thinking about this also put me in mind of my own educational journey, and believe it or not, I feel that there is a lesson to be learned here regarding credit building. So as we head into commencement season, please allow me to express the following thoughts.
When I was a freshman – way back in ye olde days of the 1980s – I had an amazingly successful freshman year. Unfortunately, it was followed by a lackluster sophomore year due to health problems. In retrospect, I wish that I had withdrawn from classes sooner than I did, as my grades suffered. I eventually left school, and although my health recovered, I allowed life to take me in another direction rather than returning to finish my degree.
The years went by, and even though I had managed to build a satisfactory career for myself, I regretted not having finished my degree. In 2007 I made the decision to go back and finish. I can’t begin to tell you how much I craved that feeling of completion and closure; I yearned to frame the piece of paper and hang it on my office wall, to wear a cap and gown, to be able to call myself an alumna of my alma mater. In short, I really, really wanted to achieve this – and preferably, I wanted it NOW!
Well, life doesn’t work that way. Some things cannot be achieved right here, right now, no matter how much you want them. They take time and effort. And even if you do put in the effort, they sometimes just plain take time. Because of changes in degree requirements, I wound up re-doing my sophomore year. So, it took me three years as a middle aged woman to finally finish earning my degree. No matter how eager I was to accomplish my goal, no amount of snapping my fingers and saying “presto!” would have made it happen right away. But, with time and patience, happen it did.
Okay, hooray for me, but what does this have to do with building credit? Well, I’ve noticed that a number of people on this forum have expressed a craving for highly desired, prime credit cards with high limits, even though they have only recently started to build or rebuild their credit. And, they want to satisfy that desire right here, right now. Folks, it just doesn’t work that way. There are some endeavors in life that simply take time, just like earning a college degree. It might be quicker for some people, such as those who are new to credit and have thin files, but no baddies; it might take longer for others who are recovering from past credit problems. But whatever the circumstances, it won’t happen overnight.
It helps to remember that those high-end cards as goals to work towards. Starting out with lesser cards is a stepping stone towards those goals. Even if they have small limits and no rewards, keep them in perspective. They are valuable tools, and you are actively using them to build/rebuild your credit profile. Take pride in wherever you’re at in your credit journey, because you are actively taking control of your financial life and are working towards a worthy goal. Use your starter cards well, treat them responsibly, and eventually you will be able to get the cards that you really want. You’re building a reputation with your credit, after all, and that is something that cannot be rushed.
So find a nice, relaxing spot in the garden, and please allow time to do its most necessary work.
And to those of you who have put in the time and effort to build a solid credit profile and have finally achieved your credit goals, congratulations! Hats off to you – you’ve earned it!
Starting Score: 639 (Walmart TU)
