When did your first credit experience start?
Laura inspired me to write this post because of her other thread about getting her younger sibling a credit card. I thought it would be interesting to talk about our first experience with credit, please share your story, good or bad.
My first experience with real credit was when I was nineteen, I had my second job working for minimum wage at a nursery in the summer, it was hard and dirty work. I wanted a car, the sign of real independence. I worked the summer and rode to work everyday with a neighbor thinking by the time summer was over, I would have enough saved to pay for my car. Well summer came and went and I did not have half the money saved up for a car, so I took on a full time job in a factory, problem was that my neighbor did not work there, after a few weeks of my mother dropping me off, she said that it was time that I got my own car. I had no credit established, and did not know how to go about getting a loan. My mother took me to the bank on that Saturday morning, with summer paystubs in hand and current paystubs to show that I was employed, my mother and I went into the bank. I had enough for a down payment but needed another $500 to get the car and another few hundred to get the insurance on the car. The man at the bank said that he could not give me the loan with out a co signer since I had no credit established. My mother co signed but I was the main holder of the account. To tell you the truth, I was a bit nervous, but also more excited. I was entering the adult world. I made the payments on time and established my own credit worthiness from that very loan. It took me a little over a year to pay that loan off and it has long since left my credit report.
I now leave it up to you to share your first credit experience for the younger people that visit this site to read. This site should take the opportunity to educate the young on credit management and maintenance so that younger people have the opportunity to get a good start and have the foundation to build a great credit standing. We, the adults here have a wonderful opportunity to put it out there, good or bad, so that the younger population can read and learn from our experiences.
What’s your story?
I did not have credit for years, I was married and everything was in my husbands name, he was the breadwinner and the one that always had the say over what we bought and what we purchased through credit. I finally left him in 1990, it was my first real experience of my own, I got a job in a deli and was making my own money for the first time, much later in life. My first credit, and don't no one laugh at me, was with fingerhut. I was like a kid in a candy store. I still deal with them every now and then now. I have a nice line of credit built up and use it through out the winter months when my utilities get high and I can't afford to pay them, other than that, I just pay for winter all year around. Get it paid down through the summer to live in the winter, so I guess you could say that my credit line is a revolving door, but I could not make it through the winter months without it.
That's my story and I am sticking to it!
erb,
First I want to say, good for you that you got out of a controlling relationship. All people deserve to be happy and not live under someone else authority, that is what we have government for right?
My first credit, and don't no one laugh at me, was with fingerhut.
Never fear that I would laugh at you, I think that you have to start somewhere and fingerhut provides that option. You do make me smile though when you say "like a kid in a candy store" I can't imagine the freedom that you felt, good for you. Some of us take things for granted and different things make each of us happy, for you it was not the fingerhut credit, but it was the option and the choice, the liberty of having it. I hope you got yourself something nice :D You sound like a good lady who deserves it. I have commented on your other thread too, I hope we can continue to have these conversations, they inspire me.
Hi Lunch,
this is a real good topic to discuss upon. We all have been here for a while but no one has actually discussed their story. I really liked the way you and erb have portrayed your stories.
I remember being told to live within my means and since a pretty young age i had started working. I taught kids in my locality, kids mean absolutely young ones and also the ones in 5th, 6th standard. That was a great experience for me. i learned banking from maa and since then I have never looked back. My credit started building with the first student loan that I had to take which would be paid off this year if I keep my target straight.
Laura I am glad that you have joined us on this thread, I have read through and commented on some of your posts about how you are trying to get your sister started, I think that you are doing a real good thing there.
I liked this thread too, I think it is important because we all have different stories and somebody who comes on here for the first time may not relate to one but relate to another persons experience. Just as we already have three different stories here.
thanks lunchtime for not laughing, lol, I felt kind of juvenile putting that one out there but it was my first true credit experience. I think people get more out the posts if we are honest about stuff and can put done what has really happened.
oh heavens, we don't laugh at people here erb :) just smiles and virtual hugs. i like how different stories are portrayed too. interesting that when we go through hardships we feel that we're the only ones going through it and this forum shows us that we're not alone by a long shot.
my beginnings of credit actually started about 11 years ago with student loans and i didn't even know about the word credit. you said that word to me i think of a piece of plastic. littel did i know i was starting my credit history with my school loans both federal, state and our school lent me some moeny from a fat endowment.
then i got my first credit card in the mail and that was it. for years i kept up my credit so well that i would get credit cards like crazy and would also do things like fingerhut. later i took out a line of credit with figis but paid that sucker off. then all my debt mounted when i los't my job and that's when my learning experience REALLY began! i went through consolidation, after 3 or so years paid it off and now am much more responsible with credit. THOUGH i really want a nintendo wii but keep saying no to myself!!! hee hee we'll see if my will power prevails probably not
I have been told that I have come along way, I was in a very controlling relationship for about 20 years, it was a real nightmare, I am happier today. I can see where you are coming from though debtstinker when you say that we feel like we were the only ones, I did for many years and the embarrassment of the bruises, how people would look at my swollen eye and they knew that I did not really fall down again. Once an old man told me that I was the clumbsiess women he had ever known. If he only knew, I think he did, but never said anything because he would have made the situation worse.
I am happier today and know that I will never be in that situation again, I have a better life now.
I am glad that you all don't laugh at anyone here, I have come to know some of you a little enough to care about your situations and hope I continue to learn more about things and people here.
that is me and my simple little story, thank you all for listening, but no pity please, I am so past that.
My first run in with credit was when I was 18 and married(bad combination). I was in the army and had a bank account with my local credit union(still have it woohoo). Anyways my now ex-wife had gone on a shopping spree and spent my entire paycheck in one day and maxed my only credit card at the time. I didn't have to worry about rent at the time as I was in on base housing and free, but I still needed money to pay what little bills we had and groceries. She never really seemed to understand why I got upset when she would go clothes shopping instead of grocery shopping or paying the bills I will never understand. So I went to my credit union and got a $1000 loan. I payed it off like clockwork and everything was good with the loan. Except for my wife at the time I would of been really good.
Lessoned learn huh, sometimes we have to have a real bad experience to learn a real good lesson, happy to hear that you still have the account, good for you. She probably don't have the clothes yet, LOL. I never understood the need to shop for clothing like that and I am a woman. I won't buy anything unless I am getting rid of something, just something about having clothes that you never get to wear never made any sense to me. I would rather take that extra money and put it on my car payment or something like that to get rid of a bill, I have a new grand daughter to spend my money on now, so we will see if I can stick to the same ideals with her, that may be a different story. I see little dresses now and am so tempted to buy them for her, have not went crazy yet, but may in the future, but surely not no $1000 crazy that is just out of this world to me. Glad to see that you came out of it the way you did.
You know it kinda blows when it logs you out without you even realising it. It was me who said.
My first run in with credit was when I was 18 and married(bad combination). I was in the army and had a bank account with my local credit union(still have it woohoo). Anyways my now ex-wife had gone on a shopping spree and spent my entire paycheck in one day and maxed my only credit card at the time. I didn't have to worry about rent at the time as I was in on base housing and free, but I still needed money to pay what little bills we had and groceries. She never really seemed to understand why I got upset when she would go clothes shopping instead of grocery shopping or paying the bills I will never understand. So I went to my credit union and got a $1000 loan. I payed it off like clockwork and everything was good with the loan. Except for my wife at the time I would of been really good.
If it does that to me and I can catch it before someone comments, I go in and delete the post and then repost it once I am signed in. Hope this helps, sorry I interrupted that process for you, did not realize it was you, thought it was a guest posting.
something else to look for, if you see at the bottom it is requesting your name, even though it shows log out as if you are logged in, you are NOT logged in as long as you see it requesting your name before you post. Hit log out and then log back in to make sure you get the proper credit.
Hi erb,
If you have spoken out your mind, do not think that you will be victim of sympathy. Yes victim is the word I used because i feel if someone is sympathizing im not worthy to live. I feel like a loser. What you did was a commendable job. Better late than never so kudos to you. Live life happily and build a great credit.
Scott,
you are right, it is always better to choose to be a survivor instead of a victim, you will get further in life this way, when you choose to survive the other person no longer has control over you, it is here that you can achieve the sense of freedom that we all strive to feel and the happiness that we all deserve. I don't know what compels some people to want to exert control over another, you see that in the dog world in leaders of the pack and that mentality, but in the world of people, we both walk on two legs and function individually, we all have the right to live with out fear. We can be co dependant on each other but not to the point where it is disabling, it is not healthy.