Getting a credit card when you don`t have credit history

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Credit Card Applications » Research » Guides » Building Credit History » Getting a credit card when you don`t have credit history

Getting a credit card when you don`t have credit history

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Today credit cards have become a way of life. People choose to charge everything to their card and pay up in installments and without it, many things would not get done. Even if you don`t have bulk money for a large scale purchase or down payment, you can use your credit card. However, what about the people who have never had a credit history and are looking for their first ever credit card? It is rather disheartening to hear that you need credit history in order to get a credit card, how is that possible? Well there are ways to get around this paradox.

Firstly, credit cards are an expensive affair; therefore, the bank needs to see that you are reliable. Therefore, they require proper documentation indicating that you are a stable employee with a considerable salary. You can first talk to the bank where you have a salaried account when considering a credit card without credit history available. Since they have a consistent working relationship with you, they will be more agreeable about letting you have your very first credit card without a lot of hassles. However, this is not to say it will grant you access to every kind of card.

When you start off with a credit card or are looking to show some kind of credit history as a student or in college, you can consider getting a store credit card. Start small. It will be easier to manage and you can show records of your payment and employment to the bank when applying for your credit card. Today many banks have made their credit card application process stricter. While you may not immediately get a Mastercard or VISA credit card, you can still get one to start off with.

Opt for secured credit cards. When you have no credit history to show, you need to think smart. Opt for something like a VISA secured or prepaid card. This is a very reliable card to apply for and it will allow you to choose something where reports will be sent to the credit bureaus giving you credibility for an actual credit card. Talk to your bank or your parents about opting for something like this. You can also co-sign with someone you trust for your first credit card, but it does have its risks. Think things through carefully, there is always a way.

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