How to Get Credit Card Approval Without Credit
One of the biggest mistakes made by people who have no credit is to apply for every possible credit card. When you do this, you receive a credit inquiry for each and every application. Creditors will view this as a sign you are in serious need of money. When making the decision to acquire credit card approval without credit, choose offers in the less than perfect category or bad credit category. If you are eighteen years old or have bad credit, do not apply for an unsecured credit card designed for people with good credit. Without a cosigner, you will not get approved, and also you have just added an inquiry to your credit report.
What to Expect When Applying for Credit with Little or No Credit
Expect to pay an annual fee and possibly other fees when obtaining credit card approval without credit, or if you have bad credit. If you do not have existing credit history or bad credit, banks will charge fees because they see your account as possibly being risky. Once you have established credit you will be able to apply for a credit card that does not have annual fees and offers rewards.
You need to get a credit card and not a debit card. Debit cards do not work in the same way credit cards do. There are reasons credit cards are better than debit cards. The main reason credit is better is that debit cards will not your build credit score.
Find Credit Card Companies That Extend Credit Card Approval Without Credit
Find a reputable card issuer that specializes in less than perfect credit, or no credit credit cards. Beware of offers that extend you credit, but do not report to credit agencies. Some catalog cards will charge high membership fees and extend you credit to buy only from their catalog. Some catalog cards do not report to the credit agencies while others do.
Real credit cards for bad credit or no credit will have fees, but you will begin to establish a positive credit history that will save you far more money later. A good example of this is if you decide to buy a car and sign a five-year loan agreement. If you have one year of positive history with a secured card, you could save yourself ½ percent interest on the loan lowering your monthly payments and paying less in overall interest for the life of the loan.
Reviews of the Best Secured Card Offers With Applications
| Capital One ® Secured MasterCard ® | Discover it® Secured Credit Card |
| Citi® Secured Mastercard® | OpenSky® Secured Visa® Credit Card |
Getting Credit Card Approval Without Credit History
One way to acquire credit card approval without credit would be to have a cosigner. A cosigner may be a poor choice to make and can strain relationships. You need to handle credit responsibly from day one, It is all too easy to become overwhelmed. This is true especially when you have never had credit before. If you can’t make your payments on time your credit score suffers; your cosigner’s credit score drops as well. Many arguments revolve around money. For that reason, you should consider building your credit history without the help of a cosigner.
Advertiser Disclosure for the CreditFast website – CreditFast.com, provides information about the best credit card applications, as well as other financial products and services. Our goal is to provide you with fair, balanced reviews. Some credit offers that appear on our website are from companies from which CreditFast receives compensation, and some are not.
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