How to Get a Credit Card if you Have No Credit History

Having no credit can be just as worse as having bad credit. You need to establish a good payment history with the credit bureaus and work yourself up the credit score latter.

Difficulty: Moderately Challenging

Instructions

1. The first thing you need to do is to talk with your bank. If you are a customer and have a checking or savings account, more than likely your bank will approve you for a credit card. Bank of America is one bank that offers credit to those who have none or Capital One.

2. Shop around on the Internet for “no credit” credit cards and see what offers you find.

3. Compare the different interest rates, annual fees, and other charges before you decide to apply.

4. You may have to start off with a high interest rate credit card in order to build your credit history, then after that you can apply for a credit card with a low interest rate and close the other one out.

5. Visit http://www.creditcards.com to get an idea of the different cards that are on the market. Sometimes you can find a student credit card that will have a moderate to low interest rate to help students.

Tips & Warnings

• Get a good job or employ yourself before applying for a new credit card.
• Do not be afraid to pay the high interest rate in order to build your credit history or report, the fees will adjust as you become a long time card holder or customer.
• Always pay on time to keep your credit report clean or color green.