As a certified cheapskate, I (used to be) proud to say I've never owned a credit card. The thought of borrowing money that I don't have did not sit well with me, so I paid off my student loans within a year of graduating, and have lived within my means ever since. In fact, I naively thought I could go through life without a credit card until last month when I tried to apply for a mortgage with my boyfriend. The broker told me I have no credit history, so in the lender's eyes, it's as if I "don't even exist." Despite the fact that I clearly have enough money in the bank to co-sign a mortgage, despite the fact that I have a zero debt-to-income ratio, despite the fact that I've always paid my rent and utilities on time and in full, apparently, I "don't exist." And so, the process of building my credit history began.
I went straight to my bank and applied for a student card, which three different employees assured me was designed specifically for people such as myself who need to build their credit histories. Relieved I thought, "Good. At least I am not the only 27 year old on the planet without a credit card." But apparently, I am. The credit company denied me the card on the basis of having no history. "How," I asked, "am I supposed to build my history if I can't even get the card to start building my history because I have no history in the first place?" In vain, I applied for other cards and was denied left and right. Finally, my bank said I could get a card if I finangled a co-applicant. I did, and now the cards won't stop coming in the mail. Finally, "I exist!"
Now this cheap vegan has a dilemma. I've finally got a credit card and am ready to start building my history. Only problem is: I don't have anything to buy! I recently went grocery shopping, so I don't need any food. Even the cat food I ordered today is not payable until the day of pick up. Surely, I'll need a train pass next month, but they are not on sale until the 20th. What's a cheap vegan to do?
Well, I did something I rarely ever do. I bought myself a snack: a Pure Raw Food Brownie Bar from Trader Joe's. If I could juxtapose this post next to "$1.39 Dinner," I would have called it "$1.49 Snack," and you'd see why I don't usually buy snacks.
Now can I buy a house?
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Pure Raw Food Brownie Bars- now that is something worth maxing out a credit card for...
ReplyDeleteYou take One Cheap Vegan (being one, that is) very seriously. :-)
ReplyDeleteHey Nicole - just wanted to say hello! Looking forward to following along :)
ReplyDeleteDo you ever get the Trader Joe's vegetable fried rice? The bag says it's vegan. Very good.
ReplyDeleteI will give you advice that my mother gave me years ago, and I've always heeded: Never charge more than you can pay off each month.
I am probably the only 30-year-old who has never played Monopoly, if that makes you feel any better. Hmm, if you are looking for things to buy with your new credit card, one of my favorites is books, movies, etc. from amazon.com They won't scam you unlike SOME companies that advertise on the internet.
ReplyDeleteOh, don't get me started on the tyranny of the credit system. I, who have only run a balance beyond the due date once or twice in my life (because I wasn't paying attention to their increasingly short periods in which to pay -- pretty soon, the bills will come out after they're due!) have lousy credit. My husband, who runs a debt, has great credit. It's no wonder our values are getting skewed (see Kemuel). Those of us raised by parents who went through the Great Depression are punished for taking their advice seriously
ReplyDeleteRob, you are a bad influence.
ReplyDeleteDustin, yes indeed!
Abby, hello! Thanks for following along!
Proofreader, a co-worker of mine lives off of Trader Joe's veggie fried rice, but I've never tried it. Now that I have two recommendations, I'll have check it out :) Great advice from your mother. Believe me, I will definitely do that!
Melissa, what? You've never played Monopoly? I just learned last week that the streets in the game are named after the streets in Atlantic City, NJ.
Trina, it doesn't seem fair, does it? Now, I'm becoming more and more interested in learning about the history of this crazy system. I think credit cards didn't really exist before the 1970s... In just 30 years they have really gained a lot of power. Tyranny is a great word to describe it!
Nicole,
ReplyDeleteOne of the best and scariest pieces of advice I got was to charge everything--your grocery bill, your cat food, your snacks-- as long as you know its within your budget. Heck, I even charge college tuition! If you know you will be able to pay back every cent when the bill comes, it helps you build a very nice credit rating. Good luck with buying a house! (It might take a few more Pure Raw Food Brownie Bar from Trader Joe's)
Thank you for passing along the advice, Kristen. Knowing me, I will never ever charge out of my budget range... those are uncharted waters!
ReplyDeleteI have to say Nicole, that in all the years I've known you I never knew how truly cheap you were until reading this blog. My grandpa lived through the depression and you've got him beat!
ReplyDeleteNicki, sounds like your grandpa and I would get along great!
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