Well how can I establish a credit history if I can’t get a credit card? was a lingering thought during that stage of life.

I was denied a card at several places before I finally was accepted to receive a “student credit card” from my bank where I had been banking for my whole life.  The limit was only for $500 but I was excited nonetheless and eager to begin building a credit history.

Years later, I still felt shunned because I did not qualify for a $2000 loan to buy an engagement ring for my fiancee.  We had to get the loan under my fiancee’s credit which was a little embarrassing.  And what’s even more frustrating is that at that time she was not quite 20 years old and had a couple of credit cards with a $10000 limit between the two of them.  (My first card had only upped my limit to $800 and my 2nd card started me at $1000).

The moral of the story is to start building your credit history as soon as possible.  And don’t be like me and stop trying to build it once you get your first card.  One type of loan or credit card is not enough to get you out of that first stage of no credit history.  And unfortunately until you do get past that stage you are seen with the same scrutiny as someone with poor credit.

Establishing credit and maintaining a good history is important because you never know when you’ll need a loan whether it be for a diamond ring or college or a car.

Life is fun!