Donator — He/They
Posted 5 years ago ( 2019/11/1 22:39:35 )
>get told all my life "Don't get a credit card unless you wanna go into debt lol"
>find out you can't do literally anything without a credit score and can't get a credit score without a credit card
>apply for a basic credit card from my bank
>get rejected because i don't already have a credit score
???
wtf, guys. You can't make something necessary and then say you have to have that thing in order to get that thing. It doesn't work. So now what? continue to get rejected for credit cards because I have a rejected credit card application on my record now on top of having no credit history? THANKS.
Donator — She/Her
Posted 5 years ago ( 2019/11/1 22:52:01 )
i was able to get a credit card by splitting an account with my mother
another way to build credit is by buying a car
paying back loans, crap like that
idk, try to get a credit card through a store that you regularly shop at or try for a different card with different requirements
only problem is that it can take some time to build credit
Donator — He/They
Posted 5 years ago ( 2019/11/1 23:04:25 )
Most of the other options don't really apply to me, so I just hunted around and found a different credit card company to try my luck with. Got approved that time! Huh. Was kinda spooked by how fast it approved me, considering I waited a whole week-plus for my rejection letter from the last one. TIME TO SEE HOW THIS GOES, I GUESS
i still honestly don't understand how credit works. I guess I'll start figuring it out as I go along, like with everything else. :Y
Donator — She/Her
Posted 5 years ago ( 2019/11/1 23:05:16 )
There are credit cards called secured credit cards that let you put down a deposit when you open it. These are for people with no credit history. You can use it to build up your history, then cancel your card. You can also get a loan that is meant to build up credit history. You are loaned some money, but it gets put into an account and you have to make payments to get the money out. If you already have a bank account, some banks will set it up for you.
Some utility companies and landlords will report when you make payments too!
Donator — She/her
Posted 5 years ago ( 2019/11/1 23:13:28 )
@Uncledaddy: ok so this is a long topic but basically there are people that got one and didn’t understand how it works and then racked up a ton of debt.
Think of a CC as a 30-day loan. You have money that the CC company let’s you use in return you have to pay them back and if you do it too late you will have to pay them interest.
The reason why you would have one is for then you need a bigger loan like a Car or a house (down the road, it takes years to build). Building credit is important.
An example of how do use a CC responsibility would be to buy something you need every month like gas or groceries. And then pay it off completely. This will build credit without having to pay any interest.
Donator — He/They
Posted 5 years ago ( 2019/11/1 23:25:48 )
@Lufi: The one I just got is secured; I haven't seen anything about a deposit, though. My bank's options were pretty limited. That was where I tried to apply for a card the first time and got rejected, but I managed to get approved elsewhere.
@Totalanimefan: That's pretty much what I was planning on doing with it. No idea how long it will take before I'm good enough to get into an apartment though..
Donator — Fujoshi
Posted 5 years ago ( 2019/11/1 23:26:57 )
TSUN★TSUN★TSUN(≖︿≖✿)
@Uncledaddy: When I was in high school, one of my teachers during a random free period schooled us on having a credit card, and it’s one of the reasons my credit score is so high.
Apparently having no credit is worse than having bad credit, and it takes FOREVER to build it up. He told us to get a credit card when we’re 18, but only use it to buy small stuff, like food once or twice a week. Only buy stuff you can pay in full, never use it as an IOU to buy stuff out of your range. He told us to do this because it’s good to build your credit early and learn to spend responsibly using it. 10+ years later, it paid off.
It sucks that our credit score affects so much of what we can and can’t do as an adult, and yet most people aren’t even taught the basics while in school. ):
And getting a credit card was hard for me too. Try getting one at a bank where you have a checking account. Usually they’ll consider you if you’re already a customer.
Donator — Whatever
Posted 5 years ago ( 2019/11/1 23:31:03 )
Areyaready,guyz?!
School: where it's important to learn things you'll literally never use, but things that are a necessity for everyone irl? Yeah you don't need to learn that
Donator — He/They
Posted 5 years ago ( 2019/11/1 23:38:34 )
@Tsundererra: That's what I thought, and went to my bank first. Got rejected. But I got approved by a different company that was suggested by a friend of mine as the place they got their first card. So at least I've got a foot in the door now.
But I do really wish kids would be taught stuff like this in school tbh. Some of us don't have families who care enough to tell us things... or who know what they're talking about at all. ;v;
@Kitalpha Hart: Exactly! Apparently I got lucky when my biology teacher taught us how to write a check. I heard they quit doing driver's ed in high schools, too. But meanwhile they're finding even more complicated ways to do math, if my younger sister's homework was any indication.
Donator — Fujoshi
Posted 5 years ago ( 2019/11/1 23:45:39 )
TSUN★TSUN★TSUN(≖︿≖✿)
@Uncledaddy: Schools need to have adulting classes in general. My parents just told me having a credit card is bad, and refused to co-sign with me when I was searching in the beginning.
Glad you got your foot in the door, it will make things easier now. I think my first bank rejected me (Capital One), but my friend’s bank gave me one, so I switched over. xD Discover also gave me their it card easily.
Donator — He/They
Posted 5 years ago ( 2019/11/1 23:51:56 )
@Tsundererra: capital one is where i just got approved from :o Maybe banks are just biased against us after all.
I am all for a mandatory "life skills" (or whatever equivalent title) class for every high schooler. Hell, have something akin to this in every level of education, and just have the lessons evolve in nature and complexity as they age just like all the other subjects. Turn the 3 Rs into the 4 Rs: Reading, wRiting, aRithmetic, and Real life.
Donator — Fujoshi
Posted 5 years ago ( 2019/11/1 23:59:29 )
TSUN★TSUN★TSUN(≖︿≖✿)
@Uncledaddy: Omg whaaaaat? I’m dying at how random this whole process is!
Also, our whole education system needs to be revamped for something like that to happen. Sucks that a lot of adult stuff I should know how to do, I have to turn to google for answers. )x Like changing a tire or doing taxes for the first time. x__x
Donator — Whatever
Posted 5 years ago ( 2019/11/1 23:59:53 )
Areyaready,guyz?!
@Uncledaddy: yup, I graduated right about the time they started making things obnoxiously overcomplicated, so I dodged that bullet
Driver's ed was optional, I know several people who almost ran someone over and still passed and yet i can't pass because apparently when they say to turn around they want a specific turn and that turn keeps changing by the person sooooo...
Yeah, I had a math class where she taught us about interest and writing checks. And I think extremely basic taxes
Donator — He/They
Posted 5 years ago ( 2019/11/2 00:07:31 )
@Tsundererra: So it would seem.
I am also all in favor of a total revamp of the education system. Shit's wack, yo. My state seems to be especially bad at it.
@Kitalpha Hart: i rely heavily on online tax services to do my taxes
I got driver's ed in high school, but since my family was no help whatsoever, I never got my license or a car until just a few years ago, after having to take adult driving classes and buying a car off my grandma. Better late than never, I guess, but it sure would have been nice to be prepared for things at the appropriate age.
So, here in my state-
Personal Financial Literacy is part of the math standards for 4th grade and 5th grade.
Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:
(A) distinguish between fixed and variable expenses;
(B) calculate profit in a given situation;
(C) compare the advantages and disadvantages of various savings options;
(D) describe how to allocate a weekly allowance among spending; saving, including for college; and sharing; and
(E) describe the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending.
HOWEVER-
and we're about to get really real for a second-
The state standardized test that the school/teachers/students get rated on has maybe 1 or 2 questions of the 42 about that topic. Other skills like multi-step word problems involving all operations have the bulk of the test. Then fractions/geometry take up another huge chunk and all the rest is miscellaneous data/graphs/conversions.
It gets like a week of coverage right before the state test and then we're expected to move on to "mastery skills" after the test in the few weeks of school left. (I actually just looked at the scope and sequence because I was curious about how much time they gave it this year and it was 0. 0 weeks given to financial literacy this year.)
I've tried integrating some financial literacy in with our decimals unit because it makes sense and works well together, but the purpose of a bank/taxes/advantages/disadvantages and all of that other stuff has to wait until that week or so. Now, if I were teaching JUST math, it would be easier to get everything they need to know for that test and for life. But I'm not teaching just math. I get about 2 hours to teach math/science/character education. They're trying to throw Social Studies on me too, but I keep throwing a hissy fit over that. It fits better with reading and writing.
All that to say, I wish I could teach kids important things, but these are things the state has determined as not being important enough to assess. Not assessed=Not taught explicitly. In a perfect world, everything would be taught to mastery level, but these things have been deemed nonessential by the state.
Donator — Whatever
Posted 5 years ago ( 2019/11/2 02:29:39 )
Areyaready,guyz?!
@Uncledaddy: except what is an appropriate age for most anything these days? I'm 24 still only have a permit
Plan on changing that after this cruise, but depending on when I pass that stupid test, I may be 25
Donator — He/They
Posted 4 years ago ( 2019/11/2 18:12:01 )
@Kitalpha Hart: Who knows any more tbh.. I feel like I'm 10 years behind where I should be thanks to family and life situations screwing me over from early on. But it seems like people are taking a lot longer to get the stuff our parents/grandparents had by our age, and there are probably a lot of factors involved in that.
@Bioshock: Yeah, pretty much exactly that. I got spooked out of ever even thinking about credit until I got hit in the face with "Actually, you needed it all along and now it's too late!!" thx everyone~ So now I am also looking for a place that doesn't worry so much about credit or the income of both people moving into it, for that matter, but I guess that's a separate issue.
@Totalanimefan: I think Discover was one of the ones recommended, but since Capital One was what came up first, that was what I tried and actually got accepted from them. So I'll see how this goes.
Donator — Whatever
Posted 4 years ago ( 2019/11/2 18:46:09 )
Areyaready,guyz?!
@Uncledaddy: I had a teacher back in high school who couldn't afford a down payment on her first place, much less move out, until she was nearly 30
I graduated in 2013
There's a lot of factors and they're causing a ripple effect
Donator — He/They
Posted 4 years ago ( 2019/11/2 18:48:33 )
@Kitalpha Hart: yeah, that sounds about right. I'm already 30 :'( I moved out at 18, but I was living with someone else and didn't have a job then due to illness. Couldn't get disability, but couldn't work either, and had no one around to advise me one way or the other. Then things didn't work out and had no choice but to come back "home", where I've been stuck doing crappy retail jobs that don't pay the rent ever since. oh, what fun.
