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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.

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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.

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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.

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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.

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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.

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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.

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