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Level 3

I have no credit how can I get a credit card if I never had credit?

 
3 Replies
Level 20

I have no credit how can I get a credit card if I never had credit?

You can most likely get a secured credit card to start.

 

See https://www.creditkarma.com/creditcards/explore/i/secured-credit-cards?

 

There is a article at the link below regarding how to build credit from scratch.

 

See https://www.creditkarma.com/advice/i/how-to-build-credit-from-scratch/

Level 19

I have no credit how can I get a credit card if I never had credit?

do you have an employment history?  that's good.  at one time each of us that now has credit cards had none.   apply for one that has the lowest fees/ interest rate.   and doesn't charge you any interest if paid off in full each month.    And do pay it off in full each month.    you may get a card with a low credit line, but most will increase it in time as you timely pay off the debt.    keep the outstanding balance at less  than 30% of the line.  

 

What goes into FICO® Scores?
FICO® Scores are calculated from the credit data in your credit report. This data is grouped into five categories; the chart below shows the relative importance of each category.
1.
35% - Payment history:
Whether you've paid past credit accounts on time
2.
30% - Amounts owed:
The amount of credit and loans you are using
3.
15% - Length of credit history:
How long you've had credit
4.
10% - New credit:
Frequency of credit inquires and new account openings
5.
10% - Credit mix:
The mix of your credit, retail accounts, installment loans, finance company accounts and mortgage loans

Level 7

I have no credit how can I get a credit card if I never had credit?

Well, if this were true, no one would have ever been given a credit card. Right?

The fact is credit card issuers want to give out credit cards, but they want to ensure a cardholder is a good credit risk. A good credit can be maintained by keeping your accounting very straight to the point. https://www.apps4rent.com/quickbooks-cloud-hosting/. There are budgeting tools which have proven to be effective.

 

 

Regards,

Adrian