APPLYING FOR A CREDIT CARD WITH NO CREDIT

APPLYING FOR A CREDIT CARD WITH NO CREDIT
HISTORY - TIPS YOU NEED TO KNOW
by: gordon goh
oddly enough, not only will bad credit work
AGAINST YOU WHEN APPLYING FOR A LOAN OR A CREDIT
card, but no credit will too. even though this
doesn't seem fair, it is the way things work in
THE COMPLICATED WORLD OF CONSUMER CREDIT.
lenders are leery about opening accounts for
people with no credit history because they
SIMPLY HAVE NOTHING TO BASE YOUR RELIABILITY ON.

so, if you can't build a credit history without
CREDIT AND YOU CAN'T GET CREDIT WITHOUT A CREDIT
history, just what has a person to do? it's
nearly impossible to rent a car, stay in a
HOTEL, OR SHOP ONLINE WITHOUT A CREDIT CARD, SO
let's explore a few of the options that can
eliminate this catch-22.

available credit options

ALTHOUGH MANY OF THE MAJOR CREDIT CARD COMPANIES
won't give you a card without a credit history,
some smaller ones, like department stores, will.
FIND A DEPARTMENT STORE THAT WILL ISSUE YOU A
card and apply for it. you can try getting a gas
station card also. either way, use your card but
BE SURE TO MAKE ALL PAYMENTS ON TIME. YOUR GOAL
is to build a good credit history, not just get
a credit card.

find a credit card company that will review your
overall financial situation and not just your
CREDIT HISTORY. SOME LENDERS WILL LOOK AT YOUR
employment history, your housing situation, and
how often you have moved. if this is all on the
UP AND UP, THEY MAY APPROVE YOUR APPLICATION.
again, use this card wisely.

CREDIT UNIONS

if you are a credit union member, or are
ELIGIBLE FOR MEMBERSHIP, SEE WHAT THEIR CARD
issuing terms are. although they are no giving
out cards with their eyes closed, they will
OFTEN HAVE MORE RELAXED CONDITIONS FOR MEMBERS.
you no longer have to work for a specific
company to be eligible to join a credit union.
SO IT'S WELL WORTH CHECKING IF THERE'S ONE IN
your area.

SECURED CREDIT CARDS

secured credit cards are offered by lenders who
WILL GIVE YOU A LINE OF CREDIT THAT EITHER
matches, or is slightly higher than, a cash
deposit that you give them to hold. as your
EXPERIENCE WITH THE CARD GROWS, THESE LENDERS
will often raise your limit without requiring
you to increase your deposit. eventually, you
CAN USE YOUR EXPERIENCE WITH THIS LENDER TO
apply for cards that are not secured.

STUDENT CREDIT CARDS

if you are a student, then you'll be best off
WITH A STUDENT CREDIT CARD. STUDENT CREDIT CARDS
can be a great way of building the credit
history that you will need to depend upon after
GRADUATION. THE IMPORTANT THING HERE IS TO
remember to use that opportunity wisely. many
banks will issue college students a credit card,
ESPECIALLY BANKS THAT ARE LOCATED IN COLLEGE OR
university cities and towns.

WHEN YOU DO MANAGE TO GET A CREDIT CARD,
remember that you are establishing a credit
history. show that you are a good financial risk
BY PAYING THE BILL ON TIME. DON'T GO CRAZY WITH
the spending. it will only cause you problems in
the future.

about the author:
gordon goh is the owner of
EASY-CREDIT-CARD-GUIDE.COM OFFERING FREE CREDIT
card information for everyone. you can receive a
free credit card at
HTTP://WWW.EASY-CREDT-CARD-GUIDE.COM [2]

CIRCULATED BY ARTICLE EMPORIUM [3]
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