Is no credit history a real problem?

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Is no credit history a real problem?

Is no credit history a real problem?

The content is accurate at the time of publication and is subject to change.

Today, most people chose not to have a credit history. Many people are able to manage without credit or having a credit history. The trick is to know how to go about it so that you don`t have a dependency on it. Travelers that come and leave the country know about ways in which they can get things done without banking on credit history. As you might discover, this is actually very possible.

First, you should apply only for those kinds of cards that do not really need you to disclose credit information. There are a number of cards that fall into this category. It is important to recognize these cards so that you are able to get the most out of them, and don`t have to pay for being unable to prove your creditworthiness. Many banks will be quite lenient if you are able to give some other proof for your credit, like say a deposit up front.

Next, you should limit your dependency on a credit card and instead stick with a traditional checking card. There are a lot of these cards as well and you can choose one that is extended to individuals with no credit history. Again, there are a lot of ways that you can go about this as well, and depending mainly on what you are expecting from your card, you can apply to that particular bank. Initially, this could be a little challenging but learning more about it and then applying for the right card will make a lot of difference and eventually help you establish your creditworthiness in the country.

Finally, it also helps to know more about how to start establishing your credit and going away from the status of no credit history. There are a lot of things that you could do in order to build credit history and over time, it is possible that you will be able to quickly get a good credit score. In fact, if you intend to settle down and stay in the country, it always pays to have a good credit score, which can make a lot of difference over time. For many people out there, this is an important thing to look into that can potentially help save a ton of money.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
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:

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Posted: February 10, 2021

Citi, a Credit-Land.com advertising partner, offers the Citi Premier® Card, which gives elevated ThankYou points for your travel expenses and, with the recent update of the rewards program, for purchases at restaurants, supermarkets, and… Continue reading

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Posted: February 10, 2021

Many travel credit cards come with tempting perks, requiring some effort bonuses, a complicated rewards structure, and steep annual fees. The Discover it® Miles is probably the best Discover card for travel, especially if you do not travel… Continue reading

Top 5 Secured Credit Cards: October 2021 – Experts’ Choice

Top 5 Secured Credit Cards: October 2021 – Experts’ Choice

Posted: October 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!