It is difficult to get a credit card if one doesn`t have a credit history that is decent, leave alone no credit history at all. However, that doesn`t mean there is no light at the end of the tunnel. One can still ensure that they have a credit card to bail them out of the “no cash” situation. There are a few cards which are tailor made for this scenario and one can use them judiciously to build a history too.
Prepaid Credit Cards
You can go for prepaid credit cards offered by some credit card companies. You pay some cash up front to get a normal Visa card that can be used the same way as any other Visa credit card. However, the credit limit would usually be restricted to around 90% of the deposit you have paid. You can also recharge the card whenever you are going close to the credit limit. You must also ensure that you take the card from a place which reports to the credit bureaus so that your history is recorded and the credit score goes up.
Gas Station and Grocery Store Cards
There are many superstores and gas stations that offer cards too. The interest rates could be high which means you need to be a bit more careful. However, the approval process is very easy and it makes you get your credit card easily and with less complication. Hence, if you are new with the credit history and your rating is bad, invariably gas station and superstore cards are the best choices available.
Student Credit Cards
If you are a student and just beginning to know about the great benefits of having a good credit score, then you must definitely go for a student credit card offered by many credit card companies with some good benefits too. As a student you are bound to have expenditure and purchases and if you can manage why not add to your credit score. Sometimes these need a guarantee as well and misuse of the card could reflect on the guaranteer`s credit history as well but then it depends on how you use it.
Secured Credit Cards
Some banks will give you a credit card for a security deposit. The credit limit would be less but this will at least get you on the credit history building process and will come in handy at some critical unexpected expenditures.