By Rick
Credit cards have become a way of life that you need to do the most basic of things like renting a car or reserving a hotel room. The challenge for many people without a credit history is securing their first card so they can establish themselves as credit-worthy for other cards. If you want to know how to get a credit card with no credit, there are few things you’ll need to know about the way credit cards are issued.
Click here to compare credit card offers, including cards for no credit
No Credit = Bad Credit
The challenge for most card issuers is that the lack of a credit history is an unknown that they are not normally willing to gamble on in today’s economy. As strange as it sounds, a person with bad credit is a better risk than a blank credit slate to these banks. The first thing you’ll need to do when trying to get a card is establish any credit history you can to start building a credit file. Understanding how to get a credit card with no credit begins with applying for easy credit wherever you can find it.
Store Credit Cards Are a Great Place to Start
Most larger department and home improvement stores offer their own credit cards that can be used to buy things they sell. These credit cards are somewhat limited since they need to be used in the store that issued them but do provide a way for you to start establishing your credit history. These cards are also easier to qualify for than a traditional credit card and if you have a steady job and a mailing address you can usually qualify for a store card. The credit limits on these cards might initially be very low but you’re only applying for the card to build a credit history you can use to qualify for more traditional cards later. Once you have been issued one of these cards, use it often and be sure to pay off the credit balance each month in full if possible.
Travel Related Cards Are another Option
Most airlines and hotel chains offer their own branded cards and tend to be more liberal in their qualifications. They hope that by issuing you their card and rewarding you with bonus points with their brand for using the card they will instill a sense of loyalty with their company. When trying to figure out how to get a credit card with no credit, these cards are a great place to try. Most of these companies run promotions at certain times of the year and will qualify almost anyone during this period. Look for these promotions on their website and the next time you’re in the airport.
Apply For At Least One Secured Card
One last place to consider when searching for answers on how to get a credit card with no credit are the secured cards issued by many banks and traditional credit card companies. These cards are technically debit cards since they require you to have a balance of funds on deposit for any purchases you make but can still help to build your credit history. Obtaining one of these cards is easy since every purchase you make is backed by your own money and presents little risk to the lender of default. Using this secured card for a few months will start to expand your credit history file and eventually allow you to apply for a more traditional card. So the next time you’re wondering how to get a credit card with no credit, give any of these suggestions a try and you should be well on your way to finding the credit you need.
Click here to compare credit card offers, including cards for no credit
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