How To Get A Credit Card With No Credit History, In 6 Easy Steps!

How to get a credit card with no credit history. If you have no credit history, you more than likely will have trouble finding card issuers that are willing to offer you credit.

Having an empty credit profile makes it difficult for creditors to determine how you handle and manage lines of credit

How to get a credit card with no credit history. First when you apply for an credit card you will need to supply information regarding your full name, address, social security number, your annual income and your source of income among other information that is needed to process the credit card application.

Follow These 6 Easy Steps: How To Get A Credit Card With No Credit History

Step 1) How to get a credit card with no credit history: Have your loan officer assist you in getting a Visa or MasterCard. Ask what your chances are of qualifying at his or her institution. Also ask what your chances are elsewhere. Different institutions have different policies and your loan officer is likely to know about them.

You may be advised to apply at another institution because it is more lenient in its credit requirements. Sometimes a lending institution will offer cards at a lower-than-average annual percentage rate, but tighten its requirements to reduce the chance of loss through bad loans.

If this is the case with your bank, the loan officer may recommend that you go to another institution that charges higher rates but has more lenient credit requirements.

Step 2) Review the terms of the various card issuers, and decide what terms are important to you. For example, if you are planning to use your credit cards to finance consumer purchases or investment opportunities, a low annual percentage rate is desirable.

If, on the other hand, you are going to use a card for the convenience of day-to-day purchasing and intend to pay the full amount at the first billing to avoid finance charges, then a no annual fee card with a long grace period is what you are looking for.

The ideal, of course, is to get cards with no annual fee, low APR with a long grace period, and no other surcharges. You should realize, however, that banks are in business to make money, so no credit card provides all these advantages.

Step 3) How to get a credit card with no credit history: Accurately complete your application forms for those credit cards that meet your requirements. Answer all questions truthfully and completely, remembering that you are not required to give any more information than is requested.

Type or print clearly. Use a street address not a post office box number, care of, or general delivery.

Step 4) Don't send more than two or three applications at the same time to card issuers that use the same credit bureau. This avoids being turned down for too many inquiries. Most credit card issuers will automatically request your credit report from the credit bureau when they receive your application.

This will appear on future credit reports as inquiries. More than a few inquiries showing up in a short period may result in your being refused credit.

Step 5) How to get a credit card with no credit history: Send out applications for unsecured credit cards to the card issuers you have targeted. Record your responses and keep track of approvals, declines and requests for further in formation, as well as your response if called for.

Step 6) How to get a credit card with no credit history: Request the reason for any credit declines and ask for the name of the credit bureau used. If you are denied credit, federal law requires that you be told the reason in writing, as well as the identity of the credit bureau that was used.

You further have the right to request a free report from that credit bureau concerning the information contained in your file. You must respond to the rejection notice within 30 days to obtain this free credit report. (Order it only if you need one from that credit bureau, because your own requests generate inquiries, too, although these are usually not held against you.)

Determine exactly why you were refused credit. You have a right to know why you were turned down. Once you find out, you'll know exactly what you need to do to get approval, or at least to get to the next step of approval.

If you don't understand the reason you were denied credit, contact the lending institution and ask for a specific reason so you can act on it using the strategies contained in this guide.

If you have a good credit record with a particular credit bureau, it is wise to attach a copy of that credit report to your application form.

If you're approved, you will receive your card in the mail a few days later. Did you know that you can now apply online for credit card? It is very simple to fill out a credit card application online and see if you are eligible for a credit card.

Shopping around online for a credit card can save you money on interest and fees. You'll want to find one with features that match your needs. Compare credit card features and costs.  

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