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How to Get a Credit Card with No Credit History

Emma MarroneVerified
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Summary：Learn how to get a credit card with no credit history by applying for a secured or student credit card, becoming an authorized user, or applying for a credit builder loan. Compare offers and use credit responsibly to avoid fees and fraud.

If you are new to credit or have no credit history, it can be challenging to get approved for a credit card. However, there are steps you can take to increase your chances of being approved. In this article, we will discuss how to get a credit card with no credit history.

1. Apply for asecured credit card

A secured credit card requires a cash deposit as collateral, which reduces the risk to the lender. The credit limit is usually equal to the deposit. By using a secured credit card responsibly, you can establish a credit history and eventually qualify for an unsecured credit card.

2. Consider astudent credit card

If you are a student, you may be eligible for a student credit card. These cards are designed for individuals with little or no credit history, and they often offer rewards and benefits tailored to students.

3. Become an authorized user

If you have a friend or family member with good credit, you can ask to become an authorized user on their credit card account. This will allow you to build credit history without having to apply for a credit card on your own.

4. Apply for a store credit card

Store credit cards are often easier to obtain than traditional credit cards. However, they usually have higher interest rates and lower credit limits. Using a store credit card responsibly can help you establish credit history.

5. Apply for acredit builder loan

A credit builder loan is a type of loan that is designed to help you build credit history. The lender holds the loan amount in a savings account, and you make monthly payments. Once the loan is paid off, you receive the money, and your credit score will have improved.

Tips for Applying for a Credit Card

When applying for a credit card, there are several factors to consider. Here are some tips to keep in mind:

1. Check your credit score

Before applying for a credit card, check your credit score. Knowing your credit score can help you determine which cards you are eligible for and what interest rates you can expect.

2. Compare offers

There are many credit cards available, so it's important to compare offers before applying. Look at the interest rates, fees, rewards, and benefits offered by each card.

3. Apply for cards that match your credit profile

If you have no credit history, don't apply for cards that require excellent credit. Applying for cards you are not qualified for can hurt your credit score.

4. Use credit responsibly

Once you have a credit card, use it responsibly. Make payments on time, keep your balances low, and avoid applying for too many credit cards at once.

Credit Card Fees and Risks

When choosing a credit card, it's essential to understand the fees and risks involved. Here are some things to consider:

1. Annual fees

Some credit cards charge an annual fee, which can range from $25 to several hundred dollars. Make sure to factor in the annual fee when comparing credit card offers.

2. Interest rates

Credit cards charge interest on balances carried over from month to month. Make sure to choose a card with a low-interest rate.

3. Late fees

If you miss a payment or pay late, you will likely be charged a late fee. These fees can add up quickly, so it's essential to make payments on time.

4. Fraud and identity theft

Credit cards can be stolen, and fraudulent charges can be made. Make sure to monitor your accounts regularly and report any suspicious activity to your card issuer.

Credit Card Companies to Consider

When choosing a credit card, it's important to choose a reputable company. Here are some credit card companies to consider:

1. Chase

Chase offers a variety of credit cards, including cashback, travel rewards, and business cards. They also have a strong fraud protection program.

2. Citi

Citi offers a range of credit cards with rewards and benefits, including travel, cashback, and points programs. They also offer a price rewind program that can save you money.

3. Discover

Discover offers cashback rewards, no annual fees, and a free FICO credit score report. They also have a 24/7 customer service line.

In conclusion, getting a credit card with no credit history can be challenging, but it's not impossible. By following the tips outlined in this article and choosing a reputable credit card company, you can establish credit history and enjoy the benefits of having a credit card. Remember touse credit responsiblyand monitor your accounts regularly to avoid fees and fraud.

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