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No horse in the identity theft question, hasn't happened to me, but I did have seriously bad credit for a short while due to a cockup by my bank, exacerbated by
by ZoFreX 12y ago
No horse in the identity theft question, hasn't happened to me, but I did have seriously bad credit for a short while due to a cockup by my bank, exacerbated by difficulty passing identity checks due to moving house a lot. Some of the potential consequences:
* I almost ended up in a situation where I couldn't get paid or pay bills, because no bank in the country would let me open an account
* I was at risk of becoming homeless because my lease was expiring and you can't rent a flat without passing a credit check
* Even signing up for a mobile phone or home internet requires passing a credit check
So: No job, internet, or house. Pretty far-reaching!
- grecy 12y agoEh, I immigrated to the US, then later to Canada, and I experienced exactly the same thing because having no credit rating is the same as having the worst possible credit rating. I got over it, and figured out how to move on with life.
- ZoFreX 12y agoHow did you get over that? I was only able to get past those obstacles by fixing my credit history, which fortunately was relatively easy as it was a mistake by my bank.
- grecy 12y agoI spent years on a "bonded credit card" with limit $1k (i.e. they held $1k of mine in case I ever defaulted on the card) and kept a healthy amount in my savings account, and always paid off my card in time, until they slowly started to trust me. I also had to put down deposits to get phone, apartment, electricity, etc. etc.