Credit Cards For No Credit

Credit card issuers want to minimize their risk. To get a credit card with no credit you will have to apply for a secured credit card. A secured card requires a refundable security deposit. For people who have no credit, the major credit bureaus want to see you build your credit before giving you a high credit limit. If you always pay on time you will have an excellent credit score which will allow you to get a higher credit line and a lower interest rate. That means making monthly payments on time for the minimum amount due.

When responsibly used credit cards offer significant benefits to cardholders. In addition to building credit, a credit card holder receives compensation for purchases they make using the card. These include things like cash back rewards, travel points, extended warranty on some products, and auto rental insurance.

Having no credit history is actually better than having a bad credit history. In fact, people who do not make their payments on time often have a hard time applying for some card offers.