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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How to get credit in a no credit situation?

How to get credit in a no credit situation?

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Most people are looking for a way to get their hands on their first credit card. When it comes to money and credit management, there are no limits or time frames in which to start. The earlier you get started on building a good credit score, the better it is. The tough thing is of course in getting that first credit card. At one point of time, college students had it the easiest. There would be plenty of credit card agencies campaigning and trying to get youngsters to sign up for various credit card but the new rules have put a stop to that. Now the rules say that a person has to be over 21 years in college if they want their first credit card.

This situation does not make things very difficult, if you know how to work around it. The time you are in college is when you are looking for financial independence and want to make it big on your own. The sooner you can figure out how to set things right the better it is. Of course, it goes without saying that credit cards can make things difficult if not handled with care. The important thing to do if you are under 21 is to show due proof of the fact that you can handle your credit and can afford to pay your bills. If you can show proof of employment and that you earn enough, getting a card is not so complicated.

Many people tend to misunderstand no credit as being a situation where there is no way out. However if you look carefully there are plenty of ways to get your hands on your very first card on your own and with ease. It just requires some planning. Firstly, you could get used to how a credit card works with a prepaid card or a secured one. Then while the credit history builds up, you can automatically get offers for unsecured cards and then acquire your own card soon enough. Another fact of the matter is that without any credit history at all most banks would be a little wary of offering you any good deals. Therefore you might want to consider getting a co-signer on a card and then getting an unsecured card for yourself. Once you have a co-signer the matter of credit history is resolved but there are risks for both parties if the payments are not made on time.

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