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My current credit score is 603 and like most people I do hope to be able to get my first home in the near future.
I am 22 years old and the reason I need to rebuild my credit is because in January 2009 I had to have emergency gallbladder surgery. I had no insurance at the time and the hospital kept me for three days. I was billed for the hospital stay many tests they ran and etc. Adding my medical bills and my husbands we have well over 20,000 in debt. What does that mean? No way are we getting a home with all of that debt.
I have applied for a few credit cards, and of course I have been denied. I’ve done so much research that I have a headache, but I did find this forum very helpful.
I was considering a wells fargo secured card or the capital one card, but I think I will end up applying for the capital one card. It seems to me that their rates are fair, and you get a larger credit line for your money. I like all of the things everyone has said about the capital one card.
There are two reasons that I am hesitant. I want to discuss it with my husband and see what he has to say. Also, because of our limited/bad credit history and the fact that I am in school we our currently living with his parents. I am concerned that this may interfere with me getting accepted and I do not want to risk another inquiry if I will more than likely get denied.
Thank you all for reading my story and any advice is welcome.
Hi Christie0909,
Welcome to the forums! I’m sorry to hear your credit was ruined because of medical reasons. That’s not fair. I think health care in this country needs a drastic change, but that’s a topic in itself. Hopefully everything went well with your surgery and your now healthy which is the most important thing.
About the secured card. I got the Capital One card with a lower credit score than yours, plus I have bad credit history so I think you should be able to get it as well. I don’t think living with your parents will be an issue when applying for this card. I remember somebody commenting on the blog was in the same situation and was approved (if I remember well this person reported paying a little bit of rent, you may want to check the blog comments for this info).
Luckily you are still young so you have time to rebuild. Trying to do something about it and informing yourself about how credit works is the first step so you are moving in the right direction
You mention that there are two reasons that you are still hesitant. I would happy to try to answer any doubts you may have. And thanks for sharing your story!
I really wanted to talk to my husband about it and he approved. My only other concern was the living with parents thing and you helped clear that up for me. Thank you for all of your help.
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