How To Get A Credit Card With No Credit

When you first turn 18 it is important that you start your credit. All you need to do first is make sure you have a source of income. You don't have to make a certain amount of money or anything like that. You just need to have some way to prove that you make money. A bank isn't going to give you a credit card if you don't have a job to pay your minimum payments with. So if you are in school the ideal thing to do is get a small part time job working at least 10 hours a week. If you plan on not having a steady income you will not want to revolve your balances on your credit cards.

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Charge on your credit cards and pay them off at the end of every month until you are working consistently. This will help you establish a payment history. This is the main factor when you go to buy any large purchase in the future they are going to look for a solid payment history to prove you are trustworthy with borrowing money. Credit cards are a financial tool. But as most of us know they can get you in trouble real quick. Do not spend money that you don't have to spend. Only buy things when you know you can pay them back within a reasonable amount of time. Hear my words of warning because most people screw this part up within the first 2 years of establishing their credit. You don't want to be one of them. So we have established payment history is the most important.

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Now when you have no payment history you have a different set of options. Their are only certain credit cards that you can qualify for approval. These type of cards typically will give you between $200-$500 credit limit. This is a manageable limit that can teach you to manage money responsibility. This is good especially for people who don't make a whole lot of money. Like college students for example. College students get the most benefits for people trying to start their credit. This is because the credit card companies want you to get an education so you can afford to spend more of their money in the future.

Credit cards are a business like any other. They want to to establish a payment history now so when you graduate you can qualify for cards that will give you a credit limit of a few thousand dollars. When you prove that you can be trusted to pay back a small amount of money for at least 1 year. You credit is then experienced enough to get a card with a higher spending limit. What can really help this whole process for you is if you have a car loan.

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The credit agencies want to see different types of credit on your report as well. An auto loan is a loan that is secured by something. They like this because a car loan isn't as risky to a bank as it is to give someone a credit card. Credit cards are not secured by anything. It is just money that a bank gave you that you can make payments on. Go to the link below and find credit card offers that say you need limited credit, no credit ok, and bad credit ok.