Getting A No Credit Credit Card – A Guide

If you have no credit but would like to apply and receive a credit card to build your credit, assist with emergencies or a major purchase, there are options available for getting a no credit credit card. These no credit credit cards are available in a myriad of flavors, and you should know what you should look for and what you should look out for. You’ll learn the difference between a regular credit card, and a secured credit card and how both of these can affect your credit, both positively and negatively, as well as some methods for obtaining a decent credit card with a good interest rate, and how to keep from being scammed by those who prey on the innocent and credit-naive.

First, what is the difference between a check card and a credit card. A no credit check credit card is often much easier to obtain. This is a credit card that is attached to your regular debit card. If you use a debit card you will notice that are you are often asked at the store “credit or debit”. This is because some banks allow the same card to be used as both a credit card and a debit card. These no credit check credit cards will either pull the money from your bank balance, or charge it to the credit limit on your card based upon which you tell the cashier, Credit or Debit.

One popular option for obtaining a credit card for the first time with no credit history is to have a friend or parent co-sign for it. This means that if you default on the credit card, then you friend or parent may be held responsible for paying back the balance that you owe – should you refuse or be unable to pay it – or risk damage to their own credit score. A credit card will do a lot for your credit if you use it right. If you were to use your credit card regularly, say monthly, to pay for groceries or some other item that you were planning on using real money for, and then used that money to pay off your credit card each month then in a very short period of time you would have a high credit score and a history of good credit.

If you have no one to co-sign for your credit card, you may sort of co-sign for one yourself by getting a secured credit card. A secured credit card is a card that you pay cash money against, as a sort of bond against default. This will allow you to use the card for purchases that you’ll be required to pay off each month or pay the minimum payment on, just like a regular credit card. Make sure that if you are using a secured credit card to build your credit that you find a company that reports as a credit card, and not as a secured credit card. Payments made on a secured credit card that reports as such won’t raise your credit score nearly as much as a card that reports as a standard credit card.

Be wary of companies that send you unsolicited no credit credit offers in the mail. These often have catches such as ridiculously high interest rates, a “membership fee” to join the company or can only be spent on certain items on their website or store. There are several reputable companies out there that will help you get your first credit card so shop around carefully.

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