The card for People with No Credit History

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.

Credit Card Applications » Research » Guides » Building Credit History » The card for People with No Credit History

The card for People with No Credit History

Add to Favorites:
Of course we still can live without credit cards but let's also admit it or not, they have now become a very crucial part of our lives. When emergency come and we get short of cash, credit cards can be our lifesavers. There are a lot of companies offering cards with different perks and deals but without a credit history, it could be hard getting one. For some, having nothing to worry about monthly credit card payments is a relief but then again, it is a benefit having one for unexpected expenses and needs. Before one becomes qualified for a credit card, a credit history is a main requirement. It should be an impressive one so you can get the approval. Credit history is a way for lenders or credit card companies to know whether you deserve to be a credit cardholder. Without a credit card history, lenders do not have a place to check on your creditworthiness. Credit card companies and lenders invest money on you so your credit history is important to them. Your application could get rejected without a credit history but good news is that there is a credit card meant for people with no credit history. The secured credit card is a card type where credit history in not checked on. The only thing you needed to present is your social security number and a minimum cash deposit. It is called a secured card because you need to deposit cash as a fund for your card before you can start using them. The minimum cash deposit for secured cards is three hundred dollars. If you wanted a higher credit then a higher deposit is also required. Once you have your card, try not to overspend; don't spend more than your fund. Remember that you applied for secured credit card to build your credit history so overspending should be avoided. Another important thing that you should not miss doing is asking your bank or your credit card company when you can change from a secured card to an unsecured card. When looking for unsecured credit card, don't make a rush. More often than not, decision made in haste makes you regretful in the end. Secured credit cards may not work as the regular credit cards but it could be your best option of establishing a credit history. Whatever kind of credit card you own, it is important to always remind yourself that your spending habit and paying capacity go together; spend only within your paying capacity. Most people blame their credit cards for their over expenses but the real reason for their financial burden is the wrong management of their card. If you don't spend wisely, you surely will find yourself paying more than you have expected. Have lenders' trust towards you by being a good spender and payer so you easily can get approval for future loans and cards. Build and maintain your good credit history and can have instant cash when you needed it.

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 Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

Posted: June 21, 2017

Whether you are married or not, we all agree that marriage is incredibly important for a person. It signifies the beginning of two people as a team, as a family, of a long commitment. It is a newly born union and the sign of your choice, ... Continue reading
How to Save Money. Best Credit Card Deals and Tips.

How to Save Money. Best Credit Card Deals and Tips.

Posted: June 20, 2017

We all've been through or may find ourselves in such an emergency when money is needed immediately. Lucky you are if you have savings for unexpected expenses. If not, it's never too late to start saving money. There are different ways to ... Continue reading
How the Fed Rate Rise Impacts Credit Cards

How the Fed Rate Rise Impacts Credit Cards

Posted: June 20, 2017

Recently, the Federal Reserve hiked its benchmark rate by a quarter percentage point, as a result, you could see a rise of the interest rates on your credit cards by 0.25%. That was the first hike of the key rate in 2017 and the Fed ... Continue reading