NationStates Jolt Archive


Credit: How do you establish it, and what to do if you've messed up?

Kyronea
10-08-2006, 09:33
As much as I'd love for this to be a tutorial for others, it's not. I'm, to be honest, entirely ignorant when it comes to credit. I'm extremely hesitant in scouring the internet(for once) on this subject, as there is no doubt scam aplenty out there, just waiting for naive little buggers like meself to wander upon them and trigger the trap.

Recently, I had attempted to secure overdraft protection for my bank account(a sort of kick-in type loan thing for up to $1000, which I would need for a new computer at the moment, as my current one has essentially exploded(I'm using my mom's for this)), but was rejected. Similarly, I've been rejected from several other credit applications, and it wasn't until recently that it hit me why: I've got an unpaid fine to a library that I've owed since last December. I hadn't even remembered I owed it until earlier tonight, and I'm certain that's got to be the problem.

It figures that I go and mess up any possible credit I might have before I even get started. So, I've got to ask: how can I fix this? Obviously one thing I need to do is repay that fine as soon as I can--first thing tomorrow, more than likely--but that's just a first step. Since I had no other credit in any fashion that might possibly be considered--no credit card, no other loans, or anything of that sort--it's highly probable that this fine is what did me in. But I'm completely clueless as to what I can do. So, I turn to you.
Greater Alemannia
10-08-2006, 09:34
Have you tried Visa or MasterCard? They almost throw those things at you.
Posi
10-08-2006, 09:38
As much as I'd love for this to be a tutorial for others, it's not. I'm, to be honest, entirely ignorant when it comes to credit. I'm extremely hesitant in scouring the internet(for once) on this subject, as there is no doubt scam aplenty out there, just waiting for naive little buggers like meself to wander upon them and trigger the trap.

Recently, I had attempted to secure overdraft protection for my bank account(a sort of kick-in type loan thing for up to $1000, which I would need for a new computer at the moment, as my current one has essentially exploded(I'm using my mom's for this)), but was rejected. Similarly, I've been rejected from several other credit applications, and it wasn't until recently that it hit me why: I've got an unpaid fine to a library that I've owed since last December. I hadn't even remembered I owed it until earlier tonight, and I'm certain that's got to be the problem.

It figures that I go and mess up any possible credit I might have before I even get started. So, I've got to ask: how can I fix this? Obviously one thing I need to do is repay that fine as soon as I can--first thing tomorrow, more than likely--but that's just a first step. Since I had no other credit in any fashion that might possibly be considered--no credit card, no other loans, or anything of that sort--it's highly probable that this fine is what did me in. But I'm completely clueless as to what I can do. So, I turn to you.
I know paying something monthly, ie car insurance, helps your credit score.
Kyronea
10-08-2006, 09:41
Have you tried Visa or MasterCard? They almost throw those things at you.
See, here's the thing: I don't want credit cards. I don't trust myself to not go crazy with them right now. I was interested in the overdraft protection as I only needed a loan of about $550 or so from the bank for the computer parts, and they don't do less than $2000 on actual loans. I really don't think I'd be able to handle an actual credit card right now, but I do wish to improve my credit so that I can potentially snatch this overdraft protection, and thus improve my credit further via that. Question is, how do I improve my credit?
Greater Alemannia
10-08-2006, 09:42
See, here's the thing: I don't want credit cards. I don't trust myself to not go crazy with them right now. I was interested in the overdraft protection as I only needed a loan of about $550 or so from the bank for the computer parts, and they don't do less than $2000 on actual loans. I really don't think I'd be able to handle an actual credit card right now, but I do wish to improve my credit so that I can potentially snatch this overdraft protection, and thus improve my credit further via that. Question is, how do I improve my credit?

Well, then I can't help you. The only credit that I'm familiar with is the one that comes on a card.
Kyronea
10-08-2006, 09:45
I know paying something monthly, ie car insurance, helps your credit score.
Well, I've been paying money monthly now, but it's not me so much as me giving the money to my parents and them paying my part of the car insurance. A slight problem I can't rectify at the moment.
Posi
10-08-2006, 09:46
See, here's the thing: I don't want credit cards. I don't trust myself to not go crazy with them right now. I was interested in the overdraft protection as I only needed a loan of about $550 or so from the bank for the computer parts, and they don't do less than $2000 on actual loans. I really don't think I'd be able to handle an actual credit card right now, but I do wish to improve my credit so that I can potentially snatch this overdraft protection, and thus improve my credit further via that. Question is, how do I improve my credit?
How long would it take you to make that $550?
Kyronea
10-08-2006, 09:51
How long would it take you to make that $550?
With the current hours I've got(a situation that cannot be rectified, as the manager's hands are tied by a higher-up) and a bi-weekly payment...probably about another month, and that's being optimistic, and ignoring the fact that during that month I'd have to spend an additional $200--$50 for gas and $150 for that car insurance payment. As I'm losing money I spent on subscriptions I currently cannot use--and, quite frankly, am bored out of my mind--you can see why I decided to try a much more swift option. But, I was rejected from my bank, and from Newegg's preferred account payment option, and from Bill Me Later. It frustrates me, as I know I can definitely pay for it all in time. The problem is that I cannot pay for it all immediately.