The moment I received my social security number and state identification card, I have been relentlessly applying for a credit card to various banks and financial institutions over the Internet. Sad to note, I do not have the much needed credit history. Eventually, I always get denied. It is a contradiction though. How can I have a credit history when nobody wants to approve my applications? As a new immigrant, it is really difficult.
As for KISA, he does not have an impressive credit score. For more than ten years, he has not used any loan or credit cards until when he decided to get his Mitsubishi Eclipse about last year. Consequently, it hit him. He is paying a huge interest on the auto loan he got. The interest allocation in the monthly payment is twice bigger than the amount that goes to the principal. It is a lesson learned for him. Since we are planning of having our own home, both of us must have a good credit score. It is for this reason that we are both vigilant in paying the bills on time. I tried to convince him to have a credit repair. There are companies now that offers credit repair services, which are accessible online. He is looking into the matter now, and have a reliable repair credit company do the job for him at a reasonable cost. Hopefully, this bad credit repair will help him build his score high again.