- People with no credit can typically get a secured credit card. With a Visa or MasterCard secured credit card, you will have to put down an initial deposit with the issuing card company, which will then provide you access to credit up to the amount of your deposit. This way you can build your credit history and eventually get an unsecured credit card.
- You can be approved for an unsecured credit card with no credit history, but you will probably have a high interest rate and have to pay other fees, such as annual and maintenance fees. Credit card companies charge high interest rates and fees to compensate for taking on the risk of providing credit to someone without a credit history.
- If you are a college student with no credit history, then you usually won't have any trouble getting a credit card designated for students. Even without a credit history, credit card companies will approve student applications for credit cards.
- You can get a credit card with no credit history but that card may have a low initial credit limit. Some credit card companies will still want you as a client, but they don't want to take on too much of a risk, so they will issue you a credit card with a small limit. Your credit card limit might be anywhere from $100 to $500 initially, but as you keep up with your payments, your limit could increase.
- Don't just accept any credit card offer that comes your way because you have no credit history. Shop around for the best interest rates and lowest fees until you find the credit card that's best for you.
Comments
creditmaster said
on 10/1/2009 Credit card offer from Bank of America
0% Balance transfer for 15 months
No annual fee
Standard APR: 8.24% – 18.24%
http://www.bestcreditcard.googlepages.com
or
If you’d rather apply by phone, just call 866-438-6262
Priority code: UAAJVY
IBO reference number: 5549488
Citizen:Yes