Credit Punched

For a millennial I’m a bit different. Having skipped university and not bought a car I’ve skipped the major times that someone would apply for a loan. Being a millennial the chances of earning enough money to realistically buy my own home, instead of renting, is getting more dire by the day.

And it’s really annoying.

Money & Me

A few years ago I had what could be called a healthy anxiety around money, I put off spending it and always assumed I had none of it. Resulting in me having a lot more than I actually did.

The anxiety towards it reached its peak when I fell victim to identity theft. Year on year this is getting more common but it still doesn’t help the shock. I remember getting a polite letter from popular mobile phone provider telling me that my £2,500 direct debit didn’t happen as I didn’t have enough money in my account. The rest of the day was spent in the fetal position whilst my Mum Super Mum’d the issue.

Coming on to more than five years on I still feel my heart rate explode when I go to check my balance, but it’s much better than it used to be.

Now I’m the kind of person that gets excited by a shredder that cuts both horizontally and vertically.

So What?

So when I made my way to Curry’s last week, after careful study I’ve decided on a Chromebook to replace my ageing tablet, I thought i would take advantage of the in store credit.

I was rejected which not only infuriated me but also set off the pangs of anxiety.

Was there someone else masquerading as me?

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Had I missed a payment for something and it snowballed?

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Had the identity theft from years ago come back to haunt me?

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No.

Biting the Bullet

Sitting there and just contemplating the situation wasn’t helping. If anything it made it worse.

Building up the courage, and typing out my information at a credit score website (recommended by my Dad), I waited for the results to load…

Any second now armed men will break through the windows. Sirens blaring. Lights and strobes lighting the room.

Apart from the page loading nothing happened. The result was that actually my score is pretty healthy. I’m not in the 900 club but I also didn’t feel the need to reach for the vodka.

Researching it further turns out that the prudent lifestyle, of spending within my means and not taking out loans, means that I have no track record for anything over a double digit amount.

All this means I have any oxymoronic credit score.

Long Game Plan

Like most things in life this requires a long game plan.

The plan is to take out a credit card, and use it to pay a small direct debit and also the Chromebook. Paying it off as punctually as I do on my debit accounts. This will, eventually, boost my score from a reasonably good one to great one.

Although I currently have no use for a loan, and will probably never apply for a mortgage, I may as well create the environment where I won’t be turned down ever again.

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