Beginners Credit Cards

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many 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. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Beginners Credit Cards

Add to Favorites:
Beginners Credit Cards
January
5

If you've never applied for any form of credit so far, you must be wondering where to begin. Along with the standard requirements for beginners such as being of age, having a Social Security Number and some income, there are others you possibly didn't know about. These are actually your homework and proactive steps to increase chances for the lender's approval. Let's make a brief review of them.

Before you start exploring the large market of beginners credit cards, it makes sense to check your credit report. Use AnnualCreditReport.com to request your file free of charge. As you do not have any payment records yet, you may find nothing coming under your name, but that's of second importance. The major task is to make sure that nobody else has fraudulently used your name, SSN or other private information to apply for credit cards or other loans.

Unfortunately, it is a widely used practice among internet fraudsters to steal your personal data for easily making financial transactions which they otherwise would not be able to do. If you find something not associated with your personal financial activity, do not lose time - take action to clear it up and erase all the mistakes before you apply. The longer the negative info rests on your credit report, the harder it is to deal with.

As you get it all corrected, analyze any other data contained in your file. Check if your income, job, address and other details are reported properly. Then, you are ready for a contract with a bank or card company.

In most cases credit cards for beginners do require some payment or money management experience, which makes it reasonable to open a saving or checking account with the bank you plan to deal with. You do not need to run a large sum of money, just give the potential lender a sign of financial consciousness and stability.

If you need a card urgently, without having to establish saving/checking account, there are some offers for beginners that were not available before. These are special low limit deals from Capital One, some student cards and prepaid credit cards - all applications activated on our website.

The lack of financial experience makes finding and getting a beginners credit card a big challenge, especially if it is not secured, carries low APRs, no set up and no annual fees. The credit crunch made issuers more careful and choosy about new customers, so those who did obtain some financial records are evidently luckier.

Assuming that you failed to get approved, we'd highlight a number of standard methods to obtain your first-time credit, others than applying for a major bank card.

If one of your parents, relatives or close friends has a solid credit history, ask them to authorize you as an additional user on their good account. It will reflect in your own file as if you had favorable records without you ever using the line actually.

If it is not an option, consider a secured credit card which carries no risk to the lender and so is easier to qualify for. With its major drawback of requiring the applicant to open a security deposit, it is best for beginner's credit history if it reports his payment activity to the national bureaus.

Whichever rout you go, do your homework. Make the major document, your credit report, attractive for the lender.

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.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Earn on Black Friday Deals in 2017

How to Earn on Black Friday Deals in 2017

Posted: November 23, 2017

Black Friday is around the corner! Ready, steady, go! But before you go on a shopping spree to catch the jaw-dropping deals and discounts, make sure you maximize them. Did you know that you can not only save on Black Friday, but also earn? ... Continue reading
Autumn 2017: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2017: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 20, 2017

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
Top 5 Cards for Travel from Our Partners Autumn 2017 – Expert Choice

Top 5 Cards for Travel from Our Partners Autumn 2017 – Expert Choice

Posted: November 8, 2017

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading