I am disappointed in myself as I fell victim to all the hype and media attention. Do you remember back in 2004, when the mortgage companies were offering “no money down” offers on a house or even “special financing” for first time home buyers? Well, my husband and I were still considered newlyweds and we were focused on wanting to get a house. It didn’t help with all the offers being thrown in our faces via newspapers, TV commercials, and radio commercials. While I am not blaming the media, I do blame myself. We wanted the American dream. I was already married, so the next step would be to buy a house.
In late 2005, we were able to refinance the house. Mortgage companies were also offering dirt cheap offers to refinance! Fast forward to the present, we have since walked away from our house and two mortgages! We ended up moving out of state and we’ve been living on the East Coast ever since. We’ve lived here over 4 years now. As you can imagine, my credit is affected by the foreclosure and other things. Last month, I even applied for a department store credit card already knowing I would be denied.
I would love to rebuild my credit and been researching prepaid cards no fees. Before I even apply for a credit card, I do my research on the company as well. A great website to use is a legitimate website such as USA.gov credit card information page, which lists credit card terms and explain what they each mean. They also list websites to use to compare different credit cards.
I am disappointed at myself because I was always good with saving money and being frugal. I even had great credit and I was proud of that. I hope to start over with my credit or at least rebuild it. I will no longer listen to anyone else but myself when it comes to finances. I did just fine with my money before I was married. Nowadays, I am much more frugal, mostly because neither of us are employed. I hope the economy will turn around and there will be more jobs to open up.
Do you have a prepaid card with no fees? What is your experience with using one?
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