When I was 16, still merely a kid, I did something dumb. (Well, I did a lot of things dumb, but this particular one I am willing to share.) I was shopping at the mall with my friend. When I went to pay for some new clothes at Old Navy, the cashier asked me, "Would you like to save 10% on your purchases and sign up for an Old Navy card?" The only words I seemed to have heard were "save 10%" so I thought
That sounds easy and replied to the cashier, "Sure!"
What a stupid mistake. I lied on the forms she handed me to fill out and wrote that I was 18 in order to get the card. I remember how proud I felt for saving money with such ease.
About a month went by and I was convinced that I was a genius for having new clothes and saving money. Then, I started getting phone calls nearly every day from someone telling me I had an overdue bill of $80. The amount of money I owed only increased until I finally had to have my mom pay off the bill. Let's just say she wasn't so happy.
I was lucky to have escaped my debt with fair punishment of my mom's anger. Now I know to think ahead before I do anything with a credit card. I'm still working on establishing good credit.
When was the first time you experienced bad credit?
Comments (1)
I have also fallen victim to the Old Navy "save 10% by signing up for a credit card" scheme.Â