May 282015
 

I have never fully understood credit scoring. When my husband and I tried to apply for credit about 10 years ago the results never made sense.

I was working in a job that paid slightly more than minimum wage and was surrounded by student loans and overdrafts and companies were bending over backwards, trying to lend me money. My husband had a good job, in a management position but as he had never had a loan or a credit card companies wouldn’t touch him with a barge pole. I now understand that you need to have credit to have a credit score but the system still didn’t seem to make sense.

The idea of credit checks scares me. Even though I have sailed through them in the past, I always used to feel like it was some sort of exam. It has been several years since my husband and I applied for credit and things seemed to have developed greatly. You can now check your credit score online. I think this is brilliant as it would stop the experience being scary. Nowadays it would be like sitting an exam that you already knew the answers too.

As I have mentioned my husband and I haven’t applied for credit in quite a while but I still feel like we are not organised when it comes to our finances. We still have credit cards that we have had for years and, even though we pay the amount due each month they never seem to clear.

Something else that I have noticed is that the interest rate varies greatly from card to card. Cards that had once been 0% had moved to a much higher rate. I am sure that there are better deals to be had and I think it’s time that we shopped around for a better rate.

With a new addition on the way our cost of living is going to increase and I want to be on top of things before it does. I am not usually like this. Is there such a thing as financial nesting?

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 Posted by Charlotte on May 28, 2015 Uncategorized  Add comments

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