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“It Will Ruin Your Life”: Woman On TikTok Reveals How Opening A Store Credit Card Plummeted Her Credit And Jeopardized Her Efforts To Buy A House
A lot of people know how overwhelming day-to-day life can get. A lot of people experience times when they forget to do something or to be at a certain place. But sometimes forgetting even the smallest thing can lead to a whole lot of trouble. This was proved by television producer Cassidy Gard, who decided to share her experience of shopping at Home Depot on TikTok. In the video that now has 4.6M views, the woman revealed that she might lose her opportunity to buy a house because of her store credit card debt.
More Info: TikTok
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A TikTok user shared how opening a credit card at Home Depot might cause her to lose the opportunity to become a homeowner
Image credits: cassidygard
The woman who is a television producer, blogger, and founder of Cosmic Goodness likes to share bits and pieces of her everyday life. A few days ago, she uploaded a public service announcement (PSA) about credit cards given out by store employees.
Cassidy shared that in May, she went to Home Depot where she wanted to buy a can of paint because she was repairing her kitchen. When the woman wanted to pay for her purchase, the employee of the store suggested she open a store credit card. Cassidy added that she always says no to these kinds of offers, but this particular day, she agreed to open a new credit card.
After an employee encouraged the woman to open a store credit card, she totally forgot about it, causing her credit score to decrease by more than 100 points
Image credits: cassidygard
The woman even received a discount and after that, forgot about the card. The real issue started just recently when Cassidy realized that she missed her payments for the goods bought at Home Depot. After she received the credit card, the woman went on a trip all summer and didn’t receive any emails that would remind her about the payment for this card.
The TikTok user revealed that she is in distress because she is about to become a homeowner and this incident ruined her credit score, so she won’t be able to get her mortgage. Because of this debt ($7.35), her credit score plummeted over 100 points.
The TikTok user decided to share her story with others to stop them from making the same mistake she did
Image credits: cassidygard
In her interview with Buzzfeed, the woman shared that when an employee approached her with this proposal, she didn’t say that Cassidy was opening a new credit card, but rather signing up to get a “rewards card.” The woman admitted that it was her mistake to forget about the credit card and the payment, but her story revealed some other problems related to issuing credit cards as well as calculation of credit score.
Image credits: Mike Mozart
People in the comments also shared their own experiences of being stuck in a similar situation. Some even gave the woman advice on what she should do next in order to still be able to buy the house on which she already paid a down payment. There were some users who blamed the woman for being irresponsible and forgetful, causing a heated debate.
What do you think about this situation? Don’t forget to leave your thoughts in the comments down below!
Check out the full video down below!
@cassidygard#Storytime…might be losing dream house over $9 @homedepot paint 💩 #help#homedepot @selffinancial #creditcard#finance#creditscore#fyp#mortgage♬ FEEL THE GROOVE – Queens Road, Fabian Graetz
This situation divided people into two groups as some people had found themselves in a similar situation as well, while others blamed the woman for her forgetfulness
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Scagsy 4 years ago
Woman takes out credit card and fails to pay the bill. Her credit score is affected adversely. Of course it is. That's how the system works. I can't believe how dumb some people are. And then to share it with the internet? Even dumber. This is why there are instructions on shampoo bottles.
kennedy1209 4 years ago
While I despise the process of retail stores pushing their credit cards on patrons... not paying your bill on time is the real killer here. She didn't take any accountability in her post.
Della Greymane 4 years ago
Yes credit cards can ruin a score, but if used correctly they can also be key to rebuilding a score. I had sub-500 credit after being stuck with 250k in medical bills from a deceased family member. At the advice of a friend I got a secured card. Paid it off every month. Got a real card. Just used it for normal budgeted expenses. Paid it off every month too. It took about 10 years but now I'm in the 800s.
Amanda Reicha 4 years ago
Yeah, my husband's ex wife screwed his score while he was over seas in military deployment. She left him and when he came home he had all this debt and a repossessed car. He didn't even know about it until he came home. He did something like you and now he's also in the 800's.
Load More Replies...
Mad Mar 4 years ago
Sorry. But if you open a credit card an get the discount you also get a paper and booklet about the card. The card comes in 7-10 days in the mail. And you also get emails too as it's part of the sign up. Stating you went on a vacation for a month and didn't think about it seems a bit childish. You get other bills. Like gas, electric, water, car ins, phone bills, and credit card bills. So you would have had one billing cycle either before leaving for the trip or waiting on return. It might have been a week late but to miss more than one month of a billing seems a bit blaming for the store. Adult life has adult consequences. And a month off trip really sorta pushes that you could afford the <$10 bill. So maybe not being a homeowner at this time is a good thing as with homes you can't say you missed your mortgage payment for being on a month trip. They will do more than let you complain online. Please don't set up a go fund me for this nonsense either.
Leo Domitrix 4 years ago
Ummm.... she didn't pay her bill. And one missed payment never drops you that much. Shady goings-on, IMO.
Littlebunnyfufu 4 years ago
When you sign up for a credit card they do what's call a hard inquiry which can impact your FICO score and drop it down (one article I read said something like 50-100 points). Not paying the card on top of it is also a hit. So her score dropping by 100 wouldn't be out of the ballpark. On top of that, it doesn't sound like she had much credit to begin with (although, on this I could be wrong because it's not specified). Your score builds it's not instant. If that's the case she wouldn't have had a high score to begin with and then she proved she was a bad credit risk by asking for credit and then not paying the bill.
Load More Replies...
The Dave 4 years ago
Ehhhhhh no. She’s a big girl. She needs to accept responsibility for her actions, or lack thereof. I highly doubt that she wasn’t given some sort of notice of her debt. She may be able to ask the credit card company for some grace here, seeing that the outstanding debt is so small. When you’re an adult, you have to stay on top of your finances and credit score.
Brian Michael 4 years ago
It's hilarious to me how many people are stressing how a small amount owed shouldn't be a big deal and that's the problem. People now feel that they get to decide what's the rules or what should count or matter and it's frustrating. No accountability for forgetting to pay the amount, just stressing that if she wasn't asked she wouldn't have applied....you still could have said no.
Chucky Cheezburger 4 years ago
How can you lose a house that you cant buy cuz your credit score is low?
Scagsy 4 years ago
Woman takes out credit card and fails to pay the bill. Her credit score is affected adversely. Of course it is. That's how the system works. I can't believe how dumb some people are. And then to share it with the internet? Even dumber. This is why there are instructions on shampoo bottles.
kennedy1209 4 years ago
While I despise the process of retail stores pushing their credit cards on patrons... not paying your bill on time is the real killer here. She didn't take any accountability in her post.
Della Greymane 4 years ago
Yes credit cards can ruin a score, but if used correctly they can also be key to rebuilding a score. I had sub-500 credit after being stuck with 250k in medical bills from a deceased family member. At the advice of a friend I got a secured card. Paid it off every month. Got a real card. Just used it for normal budgeted expenses. Paid it off every month too. It took about 10 years but now I'm in the 800s.
Amanda Reicha 4 years ago
Yeah, my husband's ex wife screwed his score while he was over seas in military deployment. She left him and when he came home he had all this debt and a repossessed car. He didn't even know about it until he came home. He did something like you and now he's also in the 800's.
Load More Replies... Mad Mar 4 years ago
Sorry. But if you open a credit card an get the discount you also get a paper and booklet about the card. The card comes in 7-10 days in the mail. And you also get emails too as it's part of the sign up. Stating you went on a vacation for a month and didn't think about it seems a bit childish. You get other bills. Like gas, electric, water, car ins, phone bills, and credit card bills. So you would have had one billing cycle either before leaving for the trip or waiting on return. It might have been a week late but to miss more than one month of a billing seems a bit blaming for the store. Adult life has adult consequences. And a month off trip really sorta pushes that you could afford the <$10 bill. So maybe not being a homeowner at this time is a good thing as with homes you can't say you missed your mortgage payment for being on a month trip. They will do more than let you complain online. Please don't set up a go fund me for this nonsense either.
Leo Domitrix 4 years ago
Ummm.... she didn't pay her bill. And one missed payment never drops you that much. Shady goings-on, IMO.
Littlebunnyfufu 4 years ago
When you sign up for a credit card they do what's call a hard inquiry which can impact your FICO score and drop it down (one article I read said something like 50-100 points). Not paying the card on top of it is also a hit. So her score dropping by 100 wouldn't be out of the ballpark. On top of that, it doesn't sound like she had much credit to begin with (although, on this I could be wrong because it's not specified). Your score builds it's not instant. If that's the case she wouldn't have had a high score to begin with and then she proved she was a bad credit risk by asking for credit and then not paying the bill.
Load More Replies... The Dave 4 years ago
Ehhhhhh no. She’s a big girl. She needs to accept responsibility for her actions, or lack thereof. I highly doubt that she wasn’t given some sort of notice of her debt. She may be able to ask the credit card company for some grace here, seeing that the outstanding debt is so small. When you’re an adult, you have to stay on top of your finances and credit score.
Brian Michael 4 years ago
It's hilarious to me how many people are stressing how a small amount owed shouldn't be a big deal and that's the problem. People now feel that they get to decide what's the rules or what should count or matter and it's frustrating. No accountability for forgetting to pay the amount, just stressing that if she wasn't asked she wouldn't have applied....you still could have said no.
Chucky Cheezburger 4 years ago
How can you lose a house that you cant buy cuz your credit score is low?
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