Credit Cards For People With No Credit
Although just a few years ago it would have been much easier, because of the credit crunch last year getting a card for those of you who are looking to build credit can be much more difficult, if you don’t know where to look. There are a few different options for people with little to no credit depending on your circumstances.
If you are a college student, and looking to start building your credit you may want to start by applying for a student credit card. Some student cards actually have a decent rewards program although the APR is going to be higher than a card for those with an established credit history.
For college students looking to build their credit history, this is the best student card out there. The Discover® Student Card offers the same great cash back rewards and benefits as regular Discover Cards – up to 5% cash back on everyday purchases such as gas, groceries and at restaurants and then 1% back on all other purchases.
- Earn up to 5% cash back on every day purchases.
- Earn 1% cash back on all other purchases.
- Earn a 5% – 20% cash back bonus by shopping online through the ShopDiscover store.
- No Annual Fee.
Apply for Discover® Student Card | Read Review
If you aren’t a college student and are looking to build credit you may want to consider a secured credit card. With a secured credit card you are required to put down a deposit to “secure” the loan or credit limit that you would like.
By securing the credit you are guaranteed approval no matter how bad your credit is, even if you have no credit history at all. It’s extremely important to choose a secured credit card that reports to all three major credit bureaus (Equifax, Experian and TransUnion.) This way your credit score will go up as the account ages, and you continually pay on time.
I currently recommend the Public Savings Bank Secured Black Card for those of you who are looking for a secured card. After the initial one time $79.00 application fee there is no annual fee with this card.
Most importantly – this card reports to all three major credit bureaus. As I was saying above because this is a secured credit card, if you apply you will be accepted regardless of your credit score or history.
Advantages
- 0% APR on purchases for 6 months
- No annual or monthly fees
- Reports to all 3 credit bureaus
- No minimum credit score
- Lifetime credit limits up to $5,000
