Tuesday, May 17, 2011

Starting over

Wow, I just read over the previous posts... It's been a while! I closed all the credit cards about 2 years ago and have been living without credit all this time, just living using cash rather than credit. We're thinking about buying a house some time so we will need to have some kind of credit established to be able to get a mortgage loan so I decided to start building my credit again.

It's been four years since my bankruptcy. I heard that you can get a mortgage loan as early as 2 years after so in about another year it'll be five years since mine so I think we'll have no problem getting a loan. In the mean time I need to build up my credit score so we don't get ripped off on the interest rate.

The credit card offers keep coming but they all have an anual fee. I must say it is better that they were offering before... No other fees except the $49 anual fee. The interest got better too, 0% for 12 months.

I took the offer and they gave me $1000 credit. That's really good cause we need to buy some beds for the kids. This'll be perfect.

Interesting thing is my wifey applied for Macy's credit card to save 20% on a purchase and they approved it no problem. So this must mean that our credit must be getting better.

I will run our credit report in about 6 months to see where we stand. I haven't seen it in about 2 years.

Ok, until next time.

~ Valik

1 comment:

Jaden Allred said...

It’s good to know that you are recovering from bankruptcy. Keep up the good work, mate! Being under bankruptcy is another chance for you to recover from the debts you acquired. It helps you pay off these debts and stabilize your financial capabilities slowly. Just be sure to make the right decisions and plan ahead, so that you will be out of bankruptcy sooner than you think.

Jaden Allred