New Credit vs. Old Credit

Not very long ago I was finding it very difficult to get approved for anything without paying through the roof for high interest rate auto loans and apartment rentals. Credit cards were next to impossible to secure unless I plopped down a deposit for a secured credit card. It wasn't ideal, but it was a start.

Knowing my credit history, I hadn't applied for unsecured credit in a very long time but for whatever reason I decided to try my luck again and applied for a Capital One "Platinum MasterCard". To my surprise I was approved! After three months of on time payments I applied for the Capital One "Quicksilver One" card and was again approved!

Needless to say I was blown away by my good fortune. Things were finally starting to turn around for me so what did I do? Yep. I applied for a third card just two days after being approved for my second card in three months and was approved for a Kohl's Department Store card!

So you see, no matter how many times bill collectors ring your phone and scare your wife when you're not home, as long as you consistently apply on-time payments towards your newest and most recent credit accounts, good things are bound to happen!

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Kohl's Charge: APPROVED!

YES... I was just approved for a Kohl's Department Store charge card! Now, you may have never heard of Kohl's before but for those who are familiar, Kohl's is one of the best discount stores on the planet. When you think of Kohl's, think Target, because they are basically one in the same except that Kohl's is cheaper!

The good news is that if Kohl's is not local to you, you can always visit for the best deals around! This department store has discounts on top of discounts on top of discounts! If you decide to stick with them, you can literally save hundreds of dollars a year on your purchases!

So just in case you have not been following my blog lately, my new Kohl's card is the third unsecured credit card that I have received in the last three months and boy does it feel good! I'm ecstatic because there was a time not too long ago where I couldn't buy a line of credit and now it seems that everyone is willing to give me a chance!

So with that, I want to leave you with this: Don't ever give up! No matter how bad your credit may be today, there is always a brighter future tomorrow. I am living proof of this. With my experience, I can easily guide you through to a brighter day!

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Capital One Gave Me A Third Chance!

In a previous post entitled: Capital One Gave Me A Second Chance!, I spoke of how after defaulting on a previous Capital One credit card account, that 6 years later I reapplied for a new card and was approved. That was just three months ago.

Fast forward to today. On a whim I decided to apply for the Capital One Quicksilver One credit card and was approved for the second time in just three months! To say I was shocked would be a gross understatement.

We're talking about a person who just a few years ago could not get approved for anything other than a secured credit card. Now, with my newfound credit, I will continue to use it responsibly as Capital One is known for generously increasing your credit limit by $2000 after just 5 months of on time payments!

If you've had trouble reestablishing credit in the past, I highly recommend applying for the Capitol One Platinum Card first. After making three to five on time payments above the minimum amount due, then you can confidently apply for the Quicksilver One card. By using your new credit wisely, you will soon be rewarded.

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I Could Never Be a Bill Collector!

I could never take a job as a bill collector. One of the many reasons is because I think they are scum of the earth and I think much more highly of myself than that. It's a dirty job and somebody has to do it but that somebody is not me.

Calling some random stranger up and asking them for money that they haven't bothered to pay back in years just seems counter-productive to me. I mean, in most cases whenever I've had a years long unpaid bill its generally because I have absolutely no plans to pay it.

80% of all debts incurred in America are never collected and that is a formula for a lot of cold nights and wondering where your next meal is going to come from. No thank you! I'd rather sell bean pies on the street rather than accept that job...not that there's anything wrong with selling bean pies on the street!

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Credit Rebuilding: No one said it would be easy!

Make no mistake about it...Restoring ones credit is easier said than done. When I first set out to repair my credit, I had a 2 year plan and had I been able to stick with it, I would have probably been successful; but unfortunately, that was not the case.

My plan was 3 tiered. First, I was going to let all negatives that were nearing the statute of limitations fall off when the time came. This required no work on my part. I'd just wait them out.

Second, I would send "pay for delete" letters to all of my collection and charged off accounts. Anyone who was willing to negotiate a settlement to my liking, I would negotiate. Anyone who wasn't was dead to me and moved to the bottom of the list.

Lastly, I'd continue to make timely payments on the accounts that were current and in good standing while simultaneously searching for new credit offers that through research I found would be easier to get approved for; only applying if I felt that I had a better than average chance for approval.

The plan was great in theory but the reality is that I never followed through with it. I allowed myself to become distracted with sports on television, stress at work and hanging out and having fun! The good news is that I was able to secure a few new credit accounts in the process but overall, I could have been more successful.

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Money Changes Everything

A couple of years ago I was going through a really hard time and dealing with all kinds of financial struggles. My car note was behind, insurance, cell phone, credit cards and numerous other bills were all at least a couple months past due and I was stressed to no end.

After several months of struggling, I came into a large and unexpected sum of money in the tune of just over 10K. Even though the money had not yet touched my hands, just knowing that it was sitting there and on the way to me changed my entire mood for the better.

Nothing else seemed to matter. Dealing with my girlfriend leaving me, no problem. Stress at work in a job I couldn't stand, no problem. Fake friends talking about me behind my back while simultaneously stabbing me in it, no problem.

Having money made all my struggles seem terribly insignificant the moment I knew that a large sum of money was headed my way. They say that money doesn't buy happiness but the people who say that never had any money, so what do they know?

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Answering Calls From Unknown Numbers

Whenever I think about whether I should answer a call from an unknown number that I know is most likely a bill collector, I just let it ring straight to voicemail! The reason I don’t answer is because I know that if I do, I will just end up being upset and there is really no good reason to put myself through that kind of stress.

I know that plenty people feel that this is bad advice and that you only make matters worse by not answering and dealing with the issue head on. Well, those people are idiots! Now, let me explain. I have no problem with people wanting to pay their bills, because you should. Just do it on your own terms.

If you know you don’t have enough money to pay the debt off in full or at least enough money to negotiate a reasonable pay for delete offer, it makes no sense to answer the phone and get verbally abused by some "jackass" on the other end of the line who probably owes more people than you do!

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