Credit Cards for No Credit
With no credit history, it’s easy to assume you won’t qualify for a credit card. But that’s only because you haven’t taken the time to learn about credit cards for no credit. Despite your history, there are credit card issuers that are willing to do business with you. Once you learn more about these offers, you’ll come to find that you can apply for a credit card that allows you to build your history and boost your score. Search through our list below to get started.
No Credit
Freedom Gold Card
0.00%
Annual Fee0.00
N/A
Credit Needed Limited CreditN/A
Credit Brand OtherNo Credit
Horizon Gold
0.00%
Annual Fee0.00
N/A
Credit Needed Limited CreditN/A
Credit Brand OtherNo Credit
First Progress Platinum Select MasterCard® Secured Credit Card
n/a
Annual Fee39.00
n/a
Credit Needed No Credit14.74%
Credit Brand MastercardNo Credit
The First Progress Platinum Elite MasterCard® Secured Credit Card
n/a
Annual Fee29.00
n/a
Credit Needed No Credit20.74%
Credit Brand MastercardNo Credit
Green Dot primor® Mastercard® Classic Secured Credit Card
N/A
Annual Fee39.00
N/A
Credit Needed No Credit13.99% (F)
Credit Brand MastercardNo Credit
First Access Visa® Card
n/a
Annual FeeSee Terms
n/a
Credit Needed Limited CreditSee Terms
Credit Brand Visa
5 of the Best Ways to Build Credit With No Credit History
In today’s day and age, it’s more important than ever to build a strong credit history. If you don’t have a credit history, there are several things you can do to jumpstart your credit report and put yourself on the right track.
While it’s true that you “need credit to get credit,” there are a few tricks you can use to get ahead of the curve. Here are five of the best ways to build credit with no credit history:
1. Opt for a Secured Credit Card
This is one of the best ways to build a credit history, as secured credit cards are available to almost every type of consumer. With this, you’re required to make a security deposit that acts both as collateral and your credit limit. Use your credit card as you see fit, all the while paying your bill on time every month. Tip: before signing on the dotted line, verify that your payment history will be reported to the three primary credit bureaus.
2. Apply for a Department or Online Store Credit Card
You may not be in position to secure a traditional (unsecured) credit card right now, but that doesn’t mean that department stores will turn you down. If you have a favorite department store, learn more about its credit card program. As long as you keep your spending in check, this is another great way to build your credit history. Just the same as a secured credit card, verify that all activity is reported to the credit bureaus.
3. Find a Co-Signer
Just because you can’t qualify for an unsecured credit card or loan on your own, it doesn’t mean you’re out of luck. With the help of a co-signer, you can secure a credit card or loan in no time. This can help you build credit history, but remember one thing: your co-signer is on the hook if you miss a payment or are unable to stay current.
4. Consider Your Rent Payments
If you pay your rent in full and on time every month, you’ll want to use this to your advantage. There are many rent reporting services that add rent payments to your credit report, thus helping you establish your credit and boost your score.
5. Become an Authorized User
Will your spouse add you as an authorized user on his or her credit card? How about a parent or sibling? There are many benefits of this, including the ability to access credit and the opportunity to build credit history. This is an idea to consider, but only if you set clear spending parameters with the primary card holder. You don’t want this arrangement to ruin your relationship.
Conclusion
Everyone starts with no credit. While some people actively take steps to build a strong credit history, others sit back and wonder what they should be doing. If you’re ready to forge ahead, implement one or more of the five strategies above. These will help you build your credit from the ground up.
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