No Problems Getting Credit Cards With No Credit

Having no credit doesn't have to keep consumers from getting a credit card.
There are several options for consumers with no credit to get a credit card.

It's becoming increasingly difficult to function in today's society without
having credit. However, when you don't have credit it can also be
complicated to obtain a credit card.
Credit card companies need to check your credit history to determine whether
they should extend credit to you. When you do not have a credit history, the
credit card companies have no way of knowing if you are a credit risk. Even
when you don't have a credit history, there are some ways you can obtain a
credit card.

The bank or credit union where you have your savings or checking account is
a good place to go to apply for a credit card when you do not have
established credit. If you have income and have not bounced any checks, you
have an excellent chance at getting a credit card from your bank. Since you
do not have credit history, you will most likely start out with a low credit
limit. Once you begin to make purchases with your credit card and make
timely monthly payments, you can negotiate a credit limit increase if your
card issuer does not give you one automatically.

If you are not able to get a credit card from your bank, you have other
options. Store credit cards and gas credit cards are much easier to obtain
than some other credit cards. Again, you will not start out with a very high
credit limit, but if you make your payments on time, card issuers will
increase your credit limit.

A secured credit card is another option for consumers that do not have
credit established. When you have a secured credit card
(http://www.securedcardsmall.com/), you make a deposit into a savings
account. The amount of your deposit will dictate your credit limit. Since
you have made a deposit against the credit card, the creditor does not have
any reason to deem you as a risk. In the event that you do not pay your
credit card bill, the creditor uses the amount of your deposit to pay the
credit card balance.

Many credit card issuers offer the option to upgrade a secured credit card
to an unsecured one after a certain period of time.
If you go the route of a secured credit card, one that can be upgraded is a
better choice than one that cannot. You should also find out how the credit
card is reported to credit bureaus. Some secured credit card issuers report
the credit card as being a secured credit card which can raise a red flag in
the eyes of future credit. When you choose a secured credit card make sure
it is one that reports as if it were an unsecured credit card.

About The Author: Fruzsina Csery is a freelance copy writer.
She occasionally writes for
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