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By: Cardtopedia
How to get a credit card with no credit
Cardtopedia
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1. Check your credit score to make sure you have no credit to start with.
1. Check your credit score to make sure you have no credit to start with.
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2. Look for secured credit card offers from banks or other financial institutions that require a security deposit.
2. Look for secured credit card offers from banks or other financial institutions that require a security deposit.
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3. Apply for the card and make the required security deposit.
3. Apply for the card and make the required security deposit.
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4. Make sure the issuing bank reports activity on your secured card to the major credit bureaus, such as TransUnion, Experian, and Equifax.
4. Make sure the issuing bank reports activity on your secured card to the major credit bureaus, such as TransUnion, Experian, and Equifax.
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5. Use your secured card responsibly by paying off balances in full each month and keeping debt low relative to available limits.
5. Use your secured card responsibly by paying off balances in full each month and keeping debt low relative to available limits.
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6. After six months of good payments, ask your issuer for an unsecured card without a new security deposit.
6. After six months of good payments, ask your issuer for an unsecured card without a new security deposit.
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7. If your issuer doesn't convert you to an unsecured card, look for offers from other issuers that do.
7. If your issuer doesn't convert you to an unsecured card, look for offers from other issuers that do.
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8. Take out small loans or become an authorised user on someone else's account with a good payment history to build credit.
8. Take out small loans or become an authorised user on someone else's account with a good payment history to build credit.
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