So called "Credit History/Rating" in USA !

Halo Folks!! Just outta frustration (yea, it is :P )

~ Everyone should have a credit history (good credit rating though) with out which one can not rent a house/ take a loan/ apply for a credit card or whatsoever.

~ To build the credit history, you should have a credit card(s) or mortgage(s) or loan(s).
~~ But again, to get the credit card(s)/ mortgage(s)/ loan(s), one should have atleast a fair credit rating.

--> Interrelated huh!! How the hell an 'alien' would suffer to get a credit card who won't have a credit history and when he/she needs to build his/her credit history, a credit card is needed which he/she won't get unless they have a credit history.

Ufffffffffffffffffffffffffffff!!!

~ If you have a low/ no rating, you might end up not getting any credits or getting a low limit stuff with a higher interest rates.
~~ Again, having a low limit stuff is a loophole which have high chances of getting a low rating. Low rating means a MORON sitting on your forehead which we call as FATE!! :P

WTF!!!!!

~ I really did not/ can not understand this concept of credit history. If one have to build a credit history, at least for the first time he applies for a card, it should be approved. But a big NO comes in to picture. Then how the hell he/she will build the history?

~ Oh yea, one more thing - if you try applying for credit cards multiple times and as and when they gets rejected, your credit score will be affected - it will go down to BAD!!! WTF!!!

~ One can not try applying for a card to build history, one should not do anything with out a credit history, even can not apply for it too. And when applied, it will obviously gets rejected and the credit score will become bad!!

~ Bad rating doesn't mean you are a defaulter or such kind. It has many things involved in the back ground. For ex: an Alien (non resident of US) who comes to US newly won't have a credit history at all.

--> I know this is a very good system to take control over defaulters. But my question is regarding ALIENS who are coming to USA for living. At least in their case, the Govt. should loosen these policies until they get their first credit card!!

~ For citizens/ for them who are living here since significantly long time, this won't be an issue. But new comers, OMG!! It's gonna be a NIGHTMARE!!

~ Oh yea, one more thing :P After so many trials, when you get a card with a low limit and here are the rules:a) You can not use it for more than 50% of the limit. Well you can, but when used your rating will be lowered.. bwahahahahab) Thing is when you have a high limit, you won't use more than 50% of it. But when you have a low limit (for say $500), you will use it somehow and it affects your rating.

OMG!!!!!!!!!!!!!!!!!

~ This is a BIG MYSTERY for me to understand this concept!! No matter howmuchever you try to get your rating good, it somehow goes down.

~ Finally, another 'confused' conclusion - for a good rating and low interest rates' credit cards, you should have a good rating. ~~ OK... so for good rating we need to have a credit cards (preperably with high limits). So, HTF will I get one!!!!!!

~ Disgusting criteria, at least for me! Just by thinking about it, my nerves get over heated :P:P

That's why I stopped thinking about it... bwahahahaha... I am mad.. oh sorry, I became mad :P now it's OK. I've at least stopped thinking about it... hehahahahahahahaha!!!!!!!!!

Let me know if you had been successful in at least 'understanding' this concept :P


NOTE: The picture used has been taken from the web. I do not own it.