How To Apply For A Credit Card With No Credit History?

Emergence of credit card has brought great revolution in the spending trends of the people. Most of us now prefer to use credit card over money for our purchases because it offers lot of benefits like credit history and rewards.

Unlike money, usage of credit card will give you the chance of fetching more by paying less through some promotional offers from time to time.

Credit card is issued to the people with good credit history. If you have good credit score, you will enjoy good credit limits too. But to establish a credit history, you need a credit card. How will you get credit card will no credit history?

The current article will discuss the same.

Credit history has become an important aspect in one’s life. A person with good credit history will have easy accesses to other credit cards of other companies and easy loan approval. To help the beginners establish their credit history, there are some cards available.  People with bad credit history can also apply for www.gemvisa.co.nz cards to improve their credit rating.
Secured cards

These are popular type of credit cards available to the people with no credit history. To fetch these cards, you have to deposit some amount with the issuer and your credit limit is one percent higher or lower than the amount deposited. The amount deposited by you acts as collateral to the banker in case you fail to pay the amount.

Credit bureaus will keep the record of the credit history and you can establish a good credit score if you are a prompt payer.

Student Card As a student, you will find it difficult to fetch a credit card because you will not have any credit history and your income generating capacity is very low. Student cards entered into the market to help the students to learn how to manage their expenses and establish a good credit score.  Every student is eligible to fetch this card if they meet certain criteria. One should have certain source of income to make their living will enable them to get the credit card easily.

Store credit cards

Some countries allow bankers to offer store credit cards. The user is allowed to make purchases only in the afflicted store with the help of this credit card. These cards will have low credit limit and high interest rate so; you should make sure that you pay your bills promptly. Apart from building your credit history, you will enjoy exclusive promotional offers from the store.

Prepaid cards

You can fetch these credit cards easily without any credit history. You can choose to go with these cards when you have some disposable income. The credit limit in these cards is limited to prepaid amount. By using these cards, you can stay away from the fear of exceeding credit limits and interest rates.

Rather than applying for the credit cards with all the banks and facing rejection due to lack of credit history, you can choose one of them stated above and build your credit score hassle free.