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HOW TO APPLY FOR A CREDIT CARD WITH NO CREDIT HISTORY
If you are looking for a credit card and you have no credit history or bad credit then you might find this article helpful. The thought of getting a credit card with no credit history can seem like an almost impossible thing to do, especially since loaners are putting on good credit appraisals. But nonetheless its vital to note that it is still possible to get a credit card with no credit history. As a matter of fact there are numerous institutions that solely deal with giving credit to people who do not necessarily have credit history. If you have a terrible credit history and you are trying to better it, a credit card for bad credit is one way of doing so. Other groups of people who are mainly considered for this offer are young adults and immigrants. So if you happen to fall into any of these categories or for some other reason you lack credit card history, the tips given below on how to get a credit card with no credit history might come in handy.
TIPS ON HOW TO GET A CREDIT CARD WITH NO CREDIT HISTORY
To begin with, it is important to know that a card that is given to people who lack a credit history by all odds and comes with a relatively high yearly fee and a pretty large interest rate as well. For this reason, don’t expect to get a card with some unreasonably low rates, you will just get disappointed. As a matter of fact,it will be catastrophic to ones appraisals if an application for a credit card is rejected. This is because every card that is rejected results to poor credit ratings and that could tragic. Therefore it is of utmost importance to do a thorough research before applying for a card to ensure that one meets the basic requirements and hence will be accepted.
After acquiring the credit, it does not end there. The credit card holder must ensure that they use the card really cautiously so as to amass credit scores. Good credit scores essentially means that one’s financial status are in good shape. It is important for new card holders to have a clean and neat slate since pretty soon situations will force you to take a loan or two. One’s financial status,and in this case credit card rating, should serve as an insurance of financial security and not scare away potential loaners. To ensure good rating at all times one simply needs to use the card on a regular basis and also settle the balances before the set deadline. This goes ahead to give some awesome appraisals as well as evade the extra interest fee.
Once a substantial credit score has been established for one’s first credit card, it becomes easier and the benefits are more handsome. All this will translate into a good credit history for the new card holder. With the improved ratings,the card hold is now qualified for a wider array of credit cards and hence he or she can get another card that has comparatively low interest rates, finer returns and on top of this, they wouldn’t have to worry about yearly charges again.
It goes without saying that when one applies for such a card one of the reasons is that their financial situation is quite rocky and hence it can be understood when other people don’t trust you with money. This could explain the extremely high annual fee that normally falls between 80-100 dollars and an additional 6 dollars per month which might seem negligible but it adds up to 72 dollars by the end of the year. As if this charges are not enough, there is also a set up fee that can go up to 120 dollars. Going back a few steps, one of the main reasons for getting this kind of card is to improve the credit ratings by streamlining one’s finances. It is therefore important to read all terms and conditions carefully and then settle for the card with the best offer to reduce some of these monetary expenses.
Regardless of what one’s reason for obtaining this particular card are, the most important thing is to get enough ratings so as to get the regular credit card that is much cheaper and more convenient. Three simple and essential tips to make that happen fast are;
1.Get the card with the most affordable terms.
2.After obtaining the card, use it carefully,don’t be spendthrift.
3.Always pay balances in full and on time.
With these simplified guidelines one will get positive ratings pretty fast and before they even realizing it, they will be ready to get the regular card.