- 1 5 Best Ways to Get a No Credit History Credit Card
- 2 Credit and Prepaid Card Applications for People with Limited or No Credit History
- 3 first credit cards with no credit history
- 4 Credit Cards for People With No Credit History, Get a Credit Card With Bad Credit
5 Best Ways to Get a No Credit History Credit Card
Getting a credit card when you have no credit history can seem nearly impossible. Why? Because most companies that issue credit cards want to see a good credit score before they take the risk of issuing a credit card. The downfall to this policy is that those without credit do not have a credit score to use for the qualification process. However, there are some companies that have identified this issue and have created credit cards geared for people in this exact situation. We will cover some of the best companies later on, for now, we are going to discuss some options available to you in order to get a credit card when you have no credit history.
Many of the large retail chains offer their own credit cards. The good news is that these types of credit cards are easier to obtain than a traditional credit card, such as a Visa or MasterCard if you have no or limited credit history. The bad news is that most of these cards have low limits, higher interest rates, and can only be used for purchases made at the retail store that issued the card. However, by keeping the balance as low as possible and by paying off your balance as soon as you can, you can avoid those hefty interest rates while helping building a solid credit history.
If the ability to get a credit card on our own is simply impossible, consider finding a co-signer. A co-signer is another person with good credit that basically tells the credit card company that they will be financially responsible for the balance on the credit account if you do not or are unable to pay yourself. Just keep in mind that by having a co-signer you will have someone watching your spending and making sure that you pay your monthly payments and they do this for good reason. If you fall behind on your payments, the negative activity will not only hurt your credit but also theirs.
Some credit card companies offer special cards for college students that may not have a large income or a credit history. You will more than likely have to show proof that you are an actual college student, but it is an option for getting your credit history started.
Another option for those that have no credit history but are looking to get a credit card is by using a secured credit card. These cards work by you paying a security deposit in order to receive a credit limit. If you decide this is the option for you, make sure you pick a card that reports to the three major credit bureaus and keeps fees to a minimum.
Many of the major credit issuers have pre-qualification options online. These are ideal for a couple of reasons. First, by pre-qualifying, you will know if that company has a card that fits your situation. Secondly, this is considered a soft credit check and will not hurt your credit score. Just remember that when you actually go through with the application process it then becomes a hard inquiry and will reflect on your credit reports.
In conclusion, now that we have discussed how to establish credit and how to get credit, let’s take a look at our pick of the five best credit cards for those with no credit.
Credit and Prepaid Card Applications for People with Limited or No Credit History
- No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
- No Over Limit Fee. See WebBank/Fingerhut Credit Account Terms.
- Instant Response (Delays may occur depending on application data provided).
- Shop Brand Name Electronics.
- No Turn Downs.
- Credit Limit of Up To $3,500. 6
Credit card applications for no credit are popular, because these offers help to establish credit. Making your payments on time you soon will be able to afford credit cards with fair credit. Your well-considered financial behavior will help you qualify for better credit cards down the road, among which you will enjoy cash back credit cards, frequent flyer mile credit cards, gas credit cards and hotel rewards credit cards.
- Get the security and convenience of a full-feature, unsecured VISA® Credit Card - accepted at millions of merchant and ATM locations nationwide and online
- Reporting monthly to all three major credit reporting agencies
- Perfect credit not required for approval; we may approve you when others won´t
- You may be eligible for a Credit Line Increase after six months
- Easy and secure online application
- If approved, pay a Processing Fee and you can access the $300 credit limit (subject to available credit)
- Receive your card more quickly with optional Expedited Processing (additional fee applies)
- Get a result in as little as 60 seconds upon completion of the online application
- Online Customer Center available 24 x 7
- Issued by Mid America Bank & Trust Company, Member: FDIC
- Receive 1% cash back on eligible purchases, terms apply
- Make paying your bill easier with the ability to choose your payment date. Terms apply.
- See if you Pre-Qualify without harming your credit score
- Zero fraud liability protects you from unauthorized charges
- Monitor your credit with free online access to your credit score
- Show off your style with a premium card design, a fee may apply
- Receive opportunities for credit line increases, a fee may apply
- Email or text alerts to remind you when your payment is due
- Easy pre-qualification process which does not affect your credit score
- Less than perfect credit is okay
- 24/7 access to your account information, even on mobile
- Protection from fraud, if your card happens to be lost or stolen
- Account history is reported to the three major credit bureaus in the U.S.
- Prequalify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Protection from fraud if your card is stolen
- Account history is reported to the three major credit bureaus in the U.S.
- *Dependent on credit worthiness
People who struggle with no credit, bad credit, or limited credit often try to figure out what went wrong to put their credit in the red zone. It could have been a divorce, a job loss, an illness with unexpected medical costs, or some other unpleasant circumstance. But [. ]
Q:I have bad credit and I am starting college to better my life. But I c[. ]
To qualify for a credit card you should be at least 18 years old, some issuers approve starting from 21 years old though. Also, you should have a stable income and the credit card issuer may check your employment. You can use our credit score estimator to see you[. ]
Among online credit card applications available on our site you can also find secured credit cards for limited credit as well as regular credit cards for people with limited credit as well. If you have limited credit or no credit history, and wish to apply for a secured credit card, you will need to provide a security deposit.
first credit cards with no credit history
Getting a Credit Card With No History Is Not Easy, But Not Impossible
Ideally, to get the best rates, you would need to have credit history. Thats why if you are a student its best to apply for a student credit card earlier on, and make the full payments every month in order to start building a good credit history. Many times, if you are a student or you are from a foreign country and studying in the United States, you will need a way to get a credit card, even without a credit history. Some transactions require only credit card and will not accept cash payments.
Is it possible to get a credit card with no high annual fee and not secured?
Is there a way to do it without having to pay for monthly utility bills or car loans?
Sometimes, even applying to student credit cards from Discover or Master card may result in rejection.
Remove Negative Items on your Report
You must start by disputing any negative items. Say you had medical bills when you were younger and could not pay them. You need to dispute and remove them or find a way to pay for them. Even a small debt like $300 will show you are not responsible to creditors.
Dispute your negative credit card charges.
Start with a Secured Credit Card
Go to a bank and open a secured credit card. You may have to deposit a minimum of $500. If you have the money to get a secured card it may be better to take care of the outstanding debts that you have. You can only use up to the amount that you have on your account.
Stop Applying To Many Credit Cards
If you keep applying to many credit cards, your credit score will get hit and you will lose points for each new inquiry. This accounts for 10% of your total credit score. You need to take a break from doing this. Even if you are declined, this will negatively affect your credit score.
Credit Cards for People With No Credit History, Get a Credit Card With Bad Credit
We start with three important tips:
1. You can save as much as a thousand dollars or more each year in lower credit card interest charges by paying off your entire bill each month.
2. If you are unable to pay off a large balance, pay as much as you can and switch to a credit card with a low annual percentage rate (APR).
3. You can reduce credit card fees, which may add up to more than $100 a year, by getting rid of all but one or two cards, and by avoiding late payment and over-the-credit limit fees. See Credit Card for more information.
Bank Credit Card Application Advice
Should you keep the bank credit card you have now, or apply for ones that offer greater advantagesOne VISA card or MasterCard could be very different from another VISA card or MasterCard. What counts is the bank issuing it.
The MasterCard and VISA organizations do not issue credit cards themselves. They provide a clearing system for charges and payments on the cards and license banks to use the VISA or MasterCard name. It is the issuing bank that determines the interest rates and fees.
A bank's name on a credit card does not necessarily mean that it is the bank actually issuing the card. Issuance of credit cards is a high-risk, low-profit business. Seldom does a small bank issue its own.
Generally, a small bank will act as an agent for an issuing bank. The agent bank puts its name on the card, but it is the issuing bank that actually extends any credit.
Aside from costs, this can be important if the cardholder encounters an error. The correction might have to be agreed upon, not by a friendly local banker, but by an unknown, larger institution, perhaps in a different state.
VISA, for example, has about 1,400 issuing banks in the U.S. and about 10,500 agent banks.
Choosing which card to take is becoming more difficult, because some of the nation's largest banks have begun active solicitation of customers throughout the U.S. Individuals must be especially careful about accepting any offer that might come in the mail.
A recently discovered quirk in the federal law allows federally chartered out-of-state banks to ignore state usury laws that limit the amount of interest or fees that the issuing bank may charge on its credit cards. In Arkansas, for example, state usury laws prevent local banks from charging more than 10% interest on credit card balances. But a federally chartered out-of-state bank, in lending to Arkansas residents, may charge whatever its home state allows. Even within individual states, the terms on credit cards can vary widely.
Aside from the actual rates and fees, individuals must carefully check the fine print of their contracts. Most banks, for example, do not charge interest on balances stemming from purchases until the customer is billed for such purchases. If the bill on which the charges first appear is paid in full by the stated due date, there is no interest charge to the holder. But some banks, begin charging interest as soon as they receive the charge slip and make payment to the merchant. Thus, interest begins accumulating even before the cardholder receives the bill. These interest charges continue until the bank receives payment from the customer.
Bank Credit Card Rights
You may withhold payment for unsatisfactory credit-card purchases if:
You've already tried to settle the dispute with the merchant and failed.
You notify the credit-card issuer of nonpayment.
The charge is over $50.
The purchase was made in your home state or within 100 miles of your mailing address.
Amount and distance restrictions are dropped if:
The goods were purchased from the card issuer.
The merchant has a corporate connection with the card issuer. Example: Mobil owns Montgomery Ward, so limitations are void for Mobil services charged to a Montgomery Ward card.
The goods or services disputed were solicited through the credit card's mailings.
When it's too late to complain: After the bill's been paid-you can't demand a refund.
Bank Credit Card Cautions
Debit card risk. If lost or stolen, unauthorized use of your bank-automation card leaves you liable for the first $50, even if the loss is reported before use. It's up to $500 if you delay reporting it until after someone has tapped your account for a teller-machine withdrawal. Point: That makes the convenience of a debit card potentially ten times costlier than a credit card, which limits your liability to $50 tops and charges you nothing if a loss is reported in time to flag it before use.
Don't disclose the account number of your check-cashing identification or electronic funds transfer (EFT) card, even when reporting it lost or stolen. Why: Authorities don't need to know the number. But thieves posing as bank officers may try to get it in order to use it.
Check your credit card statement against your receipts. It's very easy for a dishonest storeowner to run off several slips when you present your card and submit them later for payment.
Be sure that it's your card that the store clerk returns. Accidental switches do happen. The number of switches is increasing. It's not costly, but it can be inconvenient, especially if you're traveling.
You are not automatically responsible for any of the credit card charges of family members, even if they're using family cards. Example: An executive's son continued to use his father's card after he was told to return it. Under a Federal Trade Commission ruling, the father had only to inform the credit card issuer that the card was being used without permission. Having done so, the father would be responsible only for the next $ 50 charged.
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