Question mark on Creditworthiness of a person does impact a person's self esteem.
Let us read through a story for a better mindset.
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Rahul got online today after an awesome vacation and found a statement in inbox. He finally met long-term credit score goal of 775. Wow… it was sort of a shock. Don’t get him wrong, it feels great, but when you finally hit a goal you've been working towards for literally years, it’s almost unbelievable.
Let us read through a story for a better mindset.
Rahul got online today after an awesome vacation and found a statement in inbox. He finally met long-term credit score goal of 775. Wow… it was sort of a shock. Don’t get him wrong, it feels great, but when you finally hit a goal you've been working towards for literally years, it’s almost unbelievable.
It got him thinking about the past few years and all the ups and downs he have been through on his personal journey. In particular, he started thinking about how having bad credit affected his self-esteem. Bad credit is something that’s always looming in the background of your life. Maybe you don’t think about it all the time, but when you do, it feels terrible. For him, it was like this mark on his reputation that said “This person cannot be trusted”, even though he knew this wasn’t the truth.
So I suppose in that sense, it does affect your self-esteem. Nobody wants to feel like they can’t be trusted, or they are a deadbeat who doesn’t pay their bills –especially when the whole picture isn’t clear on a credit report. If lenders actually knew you, I’m sure it would be a different story.
Back when his credit score was in the low 500’s, he applied for his first secured credit card designed to help people rebuild credit. It was approved. This was the card used to really kickstart his credit improvement journey. Within months, his score was up 50 points.
The thing is, because this card is designed specially for people with bad credit, they pretty much approve anyone. Nonetheless, this approval, for Rahul, felt great. After being declined again and again, this little approval gave him the confidence he needed to continue his credit improvement journey.
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