Credit card with no credit history required

get a credit card with no credit history

This is another common confusion due to the fact that some investigations can harm your credit while others do not. By availing of a free credit report, you can control an essential aspect of your finances and get a good idea of ​​how you look at the financial institutions.

get a credit card with no credit history

get a credit card with no credit history

Having a bad credit rating, it can be very difficult for someone to get approved for a loan or a new account. $ 7.50 per month on the low side to $ 14.99 for offers triple score and credit monitoring premium.

How To Get a Credit Card With Little or No Credit History

It’s a typical Catch 22: How can you build credit when you have no credit? Whether good or bad, you need to have credit for almost everything these days; from renting an apartment to signing up for a new cell phone, your credit score comes into play. Especially when trying to navigate the stormy financial seas, people are more dependent than ever on their credit cards and scores.

Most people without established credit are students or people who have yet to ever apply for a card or take out a loan. Although their credit slate is crystal clean, having no credit may be worse than have bad credit.

If you’ve run into financial problems, it is possible to repair bad credit. On the other hand, how is a potential lender supposed to gauge your creditworthiness if they are looking at a blank piece of paper?

Whether you have bad credit or no credit, one of the best ways to reap the benefits of a credit card is to apply for a prepaid card. These types of cards don’t require a credit history, and they can be used just like a standard credit card for paying bills or making online payments. You also benefit from incentives such as cash-back offers on all of your purchases. With a prepaid credit card, you never have to worry about going over the limit or late fees.

If you decide to apply for a prepaid credit card, confirm that the company you chose reports to the credit bureaus. For example, Capital One’s prepaid Mastercard gives you the functionality of traditional credit card without activation fees, but having one will not help you rebuild or establish credit. You need to look for a card that is going report to the major credit bureaus such as one the following:

  • Capital One Bank Visa
  • Credit One Bank Platinum Visa
  • Credit One Bank Unsecured Visa
  • Bancorp Purple Diamond Prepaid Card
  • Journey Students Reward Card from Capital One
  • Capital One Secured Mastercard
  • Open Sky Secured Visa
  • First Premier Bank Secured Mastercard
  • Milestone Mastercard
  • Emporium Black Card

Since having established credit goes hand in hand with being approved for a loan, what can you do when you need money but still haven’t established a positive credit history?

Instead of applying at the bank, you can apply to smaller credit unions. Usually nonprofit organizations, credit unions pass earnings along to their members without high interest rates. If you’re having trouble locating a credit union is your area, you can try looking on

If you own a home and have enough equity, you can try to take out a home equity line of credit with your lender. Tapping into your home equity can be risky business, so you must have a reliable source of income when considering this option.

Lastly, you can try to obtain a loan on P2P lending. Since 2005, this online approach allows you to borrow money directly from other individuals as opposed to lending institutions. With interest rates in the single digits, it’s definitely worth thinking about.

Since having credit card is a necessity, what can you do to lower your interest rate? One of the fastest ways to negotiate a better interest rate is to increase your credit score. Yes, it will take time, but after you’ve started to build a credit history, you will be better equipped to ask for a lower rate. Repaying your debt is the fastest way to do this, so make sure you set aside enough money to pay the following on time:

In addition, you can always call and request a lower interest rate, but you will need to have been making payments on time for several months before doing so. Try to pay more than the monthly payment or pay of the balance in full each month. This will also give you the leverage you need to request a lower interest rate in the future.

Dedicating more of your money to debt reduction takes time, but the end result will be lower interest rates and a positive credit rating you can be proud of.

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

Danger: Co-Signing Loans Can Hurt Your C[. ]

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.

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.

The Five Best Starter Credit Cards

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.

How To Obtain A Credit Card With No Credit History

The importance of obtaining credit in today's society doesn't need any justification. Traditionally, one of the easiest ways to build one’s credit in order to obtain loans was to open a basic credit card through a bank or a credit union. However, in the midst of a financial recession, it can often be extremely difficult to qualify for a new credit card; especially if you have bad credit or no credit.

Even the world’s wealthiest individual's with massive credit lines, needs to start somewhere. While this chore may seem daunting, obtaining a credit card is possible, even for individuals with no credit history.

What are some of the ways to obtain a credit card with bad credit history or no credit history at all?

There are several effective methods and helpful tips for attaining a credit card with no credit history. If you have no credit, it is important to have a source of personal income. Creditors like to see that you will have the means to pay off your credit card bills by presenting your recent pay stubs which prove that you have a steady and substantial source of income. Students can also qualify for student credit cards, which are typically designed for young individuals with little or no credit history.

Retail stores are also often willing to give store credit cards to people with no credit history. In any case, if a bank, retail store, or credit union is unwilling to give you a credit card based on your lack of credit history, many creditors accept a co-signer – whether a parent or a friend with a strong credit history – on your application, who effectively guarantees that if you fail to pay your credit card bills, they incur the responsibility to repay the creditor. This can also be an effective method for obtaining a credit card for an individual with bad credit history. Once you obtain a basic credit card, you will be able to build, or re-build, your credit in order to obtain larger credit limits and loans.

As a baseline step to improving your bad credit, or to prevent your credit from becoming worse than it is; thus thereby improving your chances of being approved for a credit card, it is important to pay your bills on time. Electricity and gas companies are often very quick to report delinquent accounts to credit bureaus. Additionally, you should always pay your unpaid traffic tickets, parking tickets, and taxes in a timely manner.

Another method for obtaining a credit card is to open a secured credit card, which requires that you place a security deposit on the card, much like an apartment rental. The deposit minimizes the burden of risk on the bank and makes it more likely that you will qualify. It is important to remember that it is never too late to improve your credit and that, in any case, bad credit or no credit do not automatically disqualify an applicant for a credit card.

If you have any further input on obtaining a credit card with no credit history, feel free to provide your commentary below!