How to Get Your First Credit Card with No History

Top 3 Steps to Getting Your First

Credit Card.

How to Get Your First Credit Card with No History

If this is the first time you are trying to get your first credit card with no credit history, it is not a problem at all. At some point in our lives, we had to learn to do something for the very

first time, without any experience at all. It is the same with credit cards, personal loans, mortgages and all those things. It is not a straight forward thing but I will share with you

how to go about it.

If this is the first time you are trying to get your first credit card with no credit history, it is not a problem at all. At some point in our lives, we had to learn to do something for the very

first time, without any experience at all. It is the same with personal loans, mortgages and all those things. It is not a straight forward thing but I will share with you how to go about it.

It is safe to assume that you are still in college that is why you looking to apply for your card for the first time. It could also be that you've been out of college for a considerable length of

time but you have not been all that interested in credit cards until now. You will also find this presentation really useful.

How to Get Your First Credit Card with No History

1. If You Are Still in College...

If you are still in college and looking to get your first card, here is what you have to do. Go to your school's student center and find out about student credit card forms. A lot of banks see college students as potential customers for the near future and so they have special accounts that help you get started if

you are in college.

In most cases, you would not require a collateral to get approved for the card. Most students have a checking account. You can use your checking account bank to get your first credit card. What you need to do is to find some time outside of your lecture hours and talk to an accounts manager at the bank

where you have the checking account for the possibility of getting a credit card.

These types of credit cards, if approved do not have high credit limits but it is a great start for you to build an excellent credit rating for life outside of college. The credit limit is usually $500. After you've got

the card, read further, towards the end of this article on how to build an excellent credit score for life.

How to Get Your First Credit Card with No History

2. If You Are Out Of College

If your application is declined for whatever reason or you are out of school here are your other options for getting your first credit card. Turn to a secured card. It works

this way: you put anywhere from $300 to $1000 into a savings account or a checking account. The bank gives you a credit card secured by the account.

You use the card and they monitor how you pay the balances, usually for 9 months. If your credit management skills are satisfactory, they give you a normal, unsecured credit card and give you your money back. Now you have your first credit card, and

you have your money back. That's cool, right?

How to Get Your First Credit Card with No History

3. If You Do Not Fit Into Any of the Above?

Your last options if those two fail. There are many companies that offer credit cards to people who have no credit history. These cards come with high interest

rates and fees, with about $1000 limit. After you've used the card for about a year, you can upgrade to a better credit card with lower rates and less fees.

Search for these companies using the Internet.

You also have the option using a co-signer to help you get your first credit card if you do not have any credit history. Talk to your parents, siblings or spouse if

they can help you get a credit card for the first time, by having them as a co-signer.

How to Get Your First Credit Card with No History

Other Equally Important Considerations

If you are in college and you've got your first card, it feels great. You finally got some purchasing power. But very

careful. Why? Because if you misuse your card, it could lead to a path of poor credit rating. This will prevent you from getting loans and other financing when you need it most

after college and you are in real life.

How to Get Your First Credit Card with No History

So with your first credit card, take these steps to build a great credit rating.

1. Make small purchases using your card. Whenever, you are making a purchase with your card, think seriously about how you are going to pay the money back.

2. Ensure you pay your credit card bills on time. If your purchases are small, you stand a good chance of being able to settle them easily, and on time. Making late payments will not only reduce your credit

rating, it will also cost you a lot more money.

3. Do not apply for any other credit card. Making credit enquiries will reduce your credit rating further. In college one card should be enough.

4. Pay off all the balances on the card if you can. That is the more reason why it is important to make small purchases, so that you pay the entire balance on the card.

If you follow these steps you should be able to get your first credit without any credit history.

How to Get Your First Credit Card with No History

We trust this presentation was useful, and will help you get your first credit card if you have no credit history.

The next step now, is to go visit our website at:

http://www.LendingAndCredit.net

To discover more tips to help you build your credit score, starting today.