How Do You Get A Credit Card Or A Loan If You Have No... - Limited/Bad/Fair Credit Questions


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How Do You Get A Credit Card Or A Loan If You Have No Credit History?

How Do You Get A Credit Card Or A Loan If You Have No Credit History?

Answered on

It is pretty difficult to get a credit card without any credit history. The reason for this is because banks go over a person’s creditworthiness to see whether they are capable of paying back the money that they will owe when they use the credit card. Without any basis of creditworthiness, they will not be able to judge whether this particular person is qualified. So, with people who were used to carrying cash around and decide to get a credit card for convenience purposes, you are more likely to be rejected. But do not worry; there are things that you can do to build credit even if you still don’t have one.

I have a checking account. Will it help in getting me a credit card?

Yes, it will. In fact this should be the first step in getting you qualified for a loan or credit. This will present the lenders or creditors that you do have money and that you are able to pay for whatever debt you may have. Especially when they see that you have a direct deposit from you employer, this will increase your chances if getting approved.

I have a savings account but I am unemployed. Will that still help in getting me credit?

Unfortunately, even if you have money in your savings account and you do not have income coming in, you will most likely be rejected. Lenders want to see your capability as a debtor. You can borrow money if you have what it takes to pay it back with their terms. So, employment is very important. Because there are no other bases for your creditworthiness, they will check your employment history. If you are able to stay in a job long enough and that you have a good chance in keeping that job then they could consider your application.

Where should I start consulting when I want to get credit or a loan?

If you already have accounts with your local bank, it would be best to consult with them. It helps that you are familiar to them and that they know your performance as their customer. They would be able to assist you on your concerns regarding getting a loan or a credit card. They would gladly explain to you everything that you need to know. In case you will not be approved by them, at least they will be giving you information on how you can slowly build credit and eventually successfully get a good credit history.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Perfect credit not required for approval; we may approve you when others won’t
Fair/Bad Credit
Instant $500 Credit Line. No Credit Check.
Bad Credit
Monthly reporting to the three major credit bureaus
Fair/Bad Credit

Other Questions in
Limited/Bad/Fair Credit

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!