Apply Online with No Credit History
No Credit - Online Credit Cards
Today credit card companies take care of their consumers with no credit history and offer special cards. These cards allow their holders to build good credit history and enjoy its privileges in the future.
The better your credit history is, the more trust-worthy for creditors you are. Well, what to do if you have no credit history? There is always a solution.
• You can become an authorized user of your friend's or relative's card. That's really a convenient way. But if lenders don't report your payment history to credit bureaus, be sure you waste your time down the drain.
• If you decide to be the only holder of the card, there are two variants.
1. You can apply for a secured credit card. It requires a bank deposit that becomes your credit limit for the account. Let's say, you put $500 on your deposit; so that
is your limit.
2. The second variant is unsecured cards for no credit. They are issued for consumers who are eager to start credit history. You don't need to open and maintain checking accounts. The banks report to 3 major bureaus every month, what plays into your hands.
However, as you are in the risky consumers group of repayment, cards for no credit require paying higher rates and having a low credit limit. Credit card companies need to be secured from the risk of repayment and money waste. Make payments on time regularly and your lenders will look at you as a reliable borrower and make your limit higher.
Whichever card for no credit you choose, a way to good history takes patience and time. Go towards your aim - good credit score. As soon as you reach your goal, you understand its privilege - to choose among credit cards with the alluring options, such as low APR, balance transfer, and no annual fee.