I got denied a credit card at Home Depot today. Actually, it was not an official denial, but a notice that they'll get back to me in 7-10 days. I figure that getting back to me will be a denial.
I'm confused by all this. My unsecured debt at the moment is miniscule. I have student loans and a car loan, plus a small, up to date credit card balance of a few hundred dollars. Years of sporadic payments on my credit card apparently are still haunting me, even though I eventually paid off the nearly $10,000 of bad debt a couple of years ago through the second job. It's now been almost two years since then, since that summer when my car went a day from getting repossessed, since I thought I'd have to declare bankruptcy to get out of it. With a little help from the folks and a lot of toil with the second job, I was able to get out of it.
In the last year or so, I've started to get new credit card applications in the mail, which I figured was a sign that my credit score was improving. I got one with a $1000 limit, for emergencies, and used it for such last summer. This school year, I applied for a Dell line of credit, and was approved. I bought a computer for my classroom after months of problems with getting any sort of technology in my room, and it turned out to be a good purchase that I've already paid off. However, since that time, I was denied a credit card at Sears when I wanted to buy a piece of exercise equipment. So I guess different businesses use different credit reporting scores, and I wonder what the cutoffs are. It's all so mysterious and seemingly random to me. I would think that Dell would be stricter in its credit offering than department stores, but I guess not.
Last week, I got a preapproval credit card from Home Depot, plus a $200 coupon off my first purchase with it. All I was supposed to do was go in there and do the paperwork, and then make my purchase. I've been wanting to get a washer and drier for a long, long time - my entire adult life - and thought this might be a good way to do it. I'm paying nearly $25 every time I go to the laundromat and it's getting ridiculous. Since I just paid off my computer, I thought I might try my hand at another purchase to concentrate on.
Alas, it looks like it's not to be. Unless something surprises me, I can't get a line of credit from freaking Home Depot. How I ever think I'm going to get a line of credit to purchase a home, I do not know. I guess it's just a waiting game until my credit score increases enough so I can be an adult and stop going to a freaking laundromat.
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