Every single person will want to get their hands on their first credit card sooner than later. For most people credit cards symbolize that first step into the big bad world of finance. It’s a symbol of financial independence for many college goers and they are looking forward to acquiring it at the earliest. However, it can be rather annoying to find that you cannot get that first credit card as easily as you thought. To get a credit card you need a credit record, which you would never have had as you never did have one in the first place. It’s like things are simply going around in circles.
But well, if things were actually this strict, no one would ever have a credit card since they don’t have a credit history the first time around. There are ways by which you can still get the first card without breaking your head about it every minute. Firstly, you need to sign up for a secured credit card
. This is a card where you have to pay an amount of money to secure the card against which sets the limit for you’re spending. Today many secured credit cards offer the option of reporting to credit bureaus. So signing up for it is not difficult.
Another way of doing it is talking to a bank where you have had a salaried account for the last couple of years. If you have been consistently earning an amount and the bank is aware of it, you can discuss them giving you a credit card with a lowered credit limit to begin with. Especially for college students who are working since years and are able to pay their own way, this will be a good way to get that first card. It is not going to complicate things at all and you will have gotten your first credit card on your own, with a no credit history situation.
You will find that it is not impossible to find a credit card that you can use even with no credit history. Despite all the talk about it being a hugely difficult thing to do, things are quite simple if you know how to go about it. People also look at providing information of the bills they have been consistently paying on their utilities or even a mortgage payment to be eligible for receiving a credit card. Your credit card dreams can come true even if you have no credit history. Some amount of planning and premeditation about how to tackle the odds against you will help.
Did you know that even with no credit history you can sign up for a credit card jointly with someone who has good credit scores? If you sign up for a joint credit card with a parent, sibling or a friend with good credit scores, you will get it easily approved. What is more, the credit history and scores will be jointly shared between you.