I got rejected because of Credibility

For most of us, rejection is hard to accept, rejection is almost equal to failure.

Image by Luisella Planeta LOVE PEACE 💛💙 from Pixabay

There is only one story in my life where rejection hit me. I don't mind being rejected by girls or being rejected at a job.

What stuck in my mind is when I got rejected while applying for a credit card. This happened a long time ago, at that time I was still young, my bank account is only used for receiving payroll, and most of the time it is empty.

I applied for a credit card, hoping that because my salary has reached the income requirement I could pass the evaluation.
Sadly my application was rejected.

First of all, I did not apply for a credit card because I want to buy stuff for myself or splurge to show off, I want to own a credit card for emergency purposes like if I really need to buy something essential.

I got sad when I got rejected, I asked myself why I'm not eligible to own a card.
I have learned that it's not about how much money you make that these credit card companies look at. They look at your name, and what utility bills are under your name. They also look at your bank history, do you deposit regularly, how long have you been saving, etc. It's like your credibility score, are you credible enough to hold a credit card?

I did not just get sad because I was rejected, I felt sad because I realized that I have no financial credibility, I don't pay bills because I was still living with my parents at that time. I don't own a car, a house, etc. My bank always has zero balance because every payroll I would take out all of my money and spend it.

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But they are right, who in their right mind would lend money to someone who has no financial record except for its payroll.

So that is why I felt bad, I was financially judged and the truth hurts.

As of now, I already have a credit card, Yes I raised my credibility score, and Now even banks call me asking me if I want to take a loan. It's not an easy road, I disciplined myself to save and not to take all of my salary out of the bank. I also made it a habit to deposit extra money that I get from sidelines.

I'm trying every year to increase my credit score, you can do this by paying your dues on time and taking small loans that you know you can easily pay and can put to good use. Every year that your score increases, the bank will give you more credit line that you can use. Who knows, one day you might be needing a lot of money for a business that you think will click.

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I think we should start teaching the younger generation about financial credibility. It will help them a lot if they will start at an early age. If they have a business in mind, they can easily get a loan from a bank because the bank will trust them.

Money was not taught in my school, the only lesson I remembered about money is what our country's currency looks like and who are the people printed on those bills and coins.