Protecting The Future

A few months ago I wrote about building credit. I talked about how important it is here in the US to have a credit history in buying big items or applying for a job. Well it's been an exciting and fulfilling experience for me. It used to be a challenge for me because when I first got here in the US I didn't have any credit history. I had to start from the bottom. Sometimes it would hurt my ego. Other times it would make me feel embarrassed. People would stare at me when I instantly pay $1,000 or $500 worth of purchase which I could have paid $30.00 a month for a year or two with a very minimal or zero interest if I get it on credit. I felt like they were thinking I was some kind of illegal alien. 


All these are in the past now. After few years of properly managing my credit, I am starting to reap my rewards now. I can get the latest model of sony TV that I've been wanting to put in my living room,  or new set of bedroom furnitures through financing payable in one year with zero interest.  It doesn't get better than this. On the other side, it can be frustrating sometimes to be inundated with offers from banks, credit companies who kept sending application forms allowing me to get credit in 30 seconds. There was one bank that sent me a pre-approved credit line of $2,000 and all I needed to do was call them and confirmed that I got the card. I ignored that offer but after a month they sent me an account statement billing me $150 for membership fee. Still I ignored that letter because I never used the card. The next month, guess what? They again sent me a bill for $150 plus interest for not paying it the previous month. I was so agitated so I called that bank and told them I was not interested in their offer and they should stop from sending me that bill because I never use their card. 

I am trying to point that I don't take up on every offer. I only use my credit line when it truly benefits me.  And I am constantly aware and continually monitoring my credit score.  I do this through credit bureaus that provide credit report.  The US government requires these credit bureaus to provide us a free credit report every year. I take advantage of this and I get my free credit score from them to see my progress. 


I know that the way I manage my finances have a big impact on my life. I believe that it is also very important that I know how to keep my credit in good shape. Monitoring it regularly is one way of tracking my progress. Having a good record will make my life easier. They help me get better deals and better loan rates as long as I can show a history of responsible credit. This I believe is my way of protecting my future.