Credit history is a backwater system that needs to be revamped.

Way back when in my youth (oh so long ago, me being 21 now) I bounced a few cheques. It was a stupid mistake; I had just cleaned out a bank account and opened a new one at a different bank, and I wrote my rent and bills off of my old account. Just a stupid mistake.

Not only did I have $100 in service charges, but the receivers of my cheques got $100 in service charges which they in turn re-charged me. Then my bank suspended all transactions until they got their money, and my bill-makers did likewise.

That was about 4 years ago.

I lived with the mistake and I'm not ranting about that. What really pissed me off was the credit history.

I am now trying to live on my own, start a life with a wonderful girlfriend, getting our own place, buying furniture... Heck, even thinking about children (long run! long run!). And I can't get a loan, can't get a credit card.

How am I going to build up my credit history to GET a credit card/loan?

Simple... Get a credit card or a loan, of course.

WAIT WAIT WAIT! Do we all see the problem here?

Of course, I have other options available to me. I can get The Bay Card, or a Canadian Tire card. Paying those cards off would get me a good credit history.

But - when one doesn't shop at huge national chain department stores, what is one to do?

I dealt with my problems the day after I got word from my bank - I transferred money over, paid the bills in person in the office the next day - et cetera. I think credit history should take corrections into account. Stupidity. And the grand colossalness of my mistake made the next 10(?) years of my life more difficult.

I feel like I'm on welfare when I can only buy a couch if I save for 4 months.

Edit: I found a small solution to my credit history problems. May not work for all. ;)

Update: It turns out I'm completely out of luck. Wal-Mart and Future Shop both declined me a card.

Log in or register to write something here or to contact authors.