What credit card to get if you've never had one?

Secured credit cards can be a good option for those with no credit who want a starter card from a major issuer. These cards require an upfront refundable deposit, usually equal to the card's limit. That cash collateral is returned to you if the card is upgraded to an unsecured account or closed in good standing.

nerdwallet.com - Best Starter Credit Cards for No Credit of December 2022 - NerdWallet

Is 2022 a year of prosperity?

Dr. Sohini Sastri identified the Year 2022 as the 'Year of Prosperity'. 2+2+2= 6, signifies Venus and people associated with fine arts, media,...

Last updated Aug 15, 2019

How much cinnamon is toxic to cats?

It takes a larger amount of ingested cinnamon powder to cause problems in our pets (greater than 1 teaspoon of powder for most pets) but only a...

Last updated Jan 9, 2019

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

FULL LIST OF EDITORIAL PICKS: BEST STARTER CARDS FOR NO CREDIT

Click the card name to read our review. Before applying, confirm details on the issuer’s website.

» SECURED CREDIT CARDS

Our pick for: Secured card — low deposit

The Capital One Platinum Secured Credit Card requires a security deposit, as do all secured credit cards. But while most cards require you to put down a deposit equal to your credit line, this one allows some qualifying applicants to get a $200 credit line with a deposit starting at $49. Further, you can be automatically considered for a higher credit line with no additional deposit in as little as six months. Read our review.

Our pick for: Secured card — rewards and upgrading

Like other secured credit cards for people building or rebuilding credit, the Discover it® Secured Credit Card requires a cash security deposit. Unlike most others, it offers rewards. But what really makes it stand out from the competition is its upgrade possibilities. The issuer has a process in place for automatically reviewing accounts for possible transition to an unsecured card. Read our review.

» STUDENT CREDIT CARDS

Student credit cards are ideal for working college students. Unlike secured cards, they don't require upfront deposits. If you're under 21, however, you have to have an independent income to qualify.

Our pick for: Student card — simplicity and value

Simplicity makes the Discover it® Student chrome a standout for students searching for their first credit card. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. Read our review.

Our pick for: Student card — bonus category cash-back rewards

The Discover it® Student Cash Back gives students the same excellent rewards as the regular Discover it® Cash Back — notably, bonus cash back in rotating categories that you must activate. Activating and tracking categories might be too much of a hassle for some students brand new to credit cards, but if you're up for a little work, the rewards can be handsome. Read our review.

Our pick for: Student card — international students

The Deserve® EDU Mastercard for Students doesn’t require applicants to have a co-signer or security deposit, and international students don't need a Social Security number. That makes it a little easier to get approved — even for students with limited credit histories. Plus, it comes with a solid 1% back on all purchases. Read our review.

» NO-DEPOSIT STARTER CARDS

It's possible to qualify for these cards without a U.S. credit history if you meet other criteria.

Our pick for: No-deposit starter card — newcomers to the U.S.

It's not easy to establish credit as an immigrant in the U.S., even if you had a good credit history in your home country. The Deserve® Pro Mastercard uses an underwriting process that also takes employment and income into consideration. There's a rewards program, too. Read our review.

Our pick for: No-deposit starter card — no fees

The issuer of the Petal® 2 "Cash Back, No Fees" Visa® Credit Card doesn’t only rely on credit scores to determine eligibility. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. You can earn a decent rate of up to 1.5% cash back, depending on your on-time payments. And there's no annual fee, late fees or foreign transaction fees. Read our review.

Our pick for: No-deposit starter card — foreign credit histories

(Through a partnership between American Express and the international credit-reporting startup Nova Credit, immigrants and expats in the U.S. can instantly translate credit reports from certain countries to U.S.-equivalent credit reports when applying for AmEx consumer cards. This feature is integrated into AmEx's online applications. Currently, it can access credit histories from bureaus located in the following countries: Australia, Canada, India, Mexico, the United Kingdom, Brazil, the Dominican Republic, Kenya and Nigeria.)

What zodiac is secretive?

Scorpio: A Scorpio will never reveal your secrets if you confide in them and advise them to zip their lips up. Being the most secretive of all...

Last updated Feb 2, 2020

Why are reels not viral?

Your Profile Isn't Optimized Because it's one thing for your reels to go viral and another entirely to use that virality as momentum to grow your...

Last updated Dec 15, 2019

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

The Blue Cash Everyday® Card from American Express pays elevated rewards at U.S. supermarkets, at U.S. gas stations and on U.S. online retail purchases. The rewards might not be as rich as on the Blue Cash Preferred® Card from American Express , but this card doesn't charge an annual fee either. New cardholders get a decent welcome offer and an introductory 0% APR period. Read our review.

» BUSINESS CREDIT CARD

Our pick for: Startups

Unlike most cards designed for entrepreneurs, the Brex Card doesn't require the cardholder to personally guarantee the debt on the card. Instead, Brex determines creditworthiness by evaluating a company's cash balance, spending patterns and investors. It's a good option when a business owner has a thin credit file but is well capitalized. The card earns rewards, too. Read our review.

• • •

By Melissa Lambarena, NerdWallet

What do you need to get a credit card without credit?

You don't need a credit history to get a starter card. In some cases, you won't need a Social Security number. But generally, you'll need:

A U.S. mailing address.

Income.

A checking or savings account.

Depending on your age, you might have to meet stricter income requirements to qualify: If you’re under 21: To qualify for a credit card, you'll need to show that you can make payments on the account independently or get a co-signer, someone 21 or older who assumes the responsibility of your debt if you can’t pay the bill. If you’re over 21: You’re still required to report your income if you’re over 21, but you have the option to list any income to which you have “reasonable expectation of access.” Other requirements can vary depending on the type of starter card. Some examples: Secured cards for no credit. These require a cash deposit as collateral to reduce the risk to the issuer, which may present an obstacle for some applicants. The amount deposited usually determines your credit limit. With a good payment history, you eventually get your deposit back when you close the account or upgrade to a regular credit card. Student cards for no credit. These may require you to be an enrolled college student. You might have to provide information like the name of your school, your major and your expected graduation year. No-deposit starter cards for no credit. Applications for these cards may require government-issued documents, bank account information, employment verification requirements and other details. That's because they assess creditworthiness in alternative ways, such as looking at employment, income, spending, savings or your credit history from a different country. Small-business cards for no credit. At least one issuer offers small-business cards without taking personal credit history into account, but to qualify, you'll have to have plenty of cash in the bank.

How can a credit card help me build credit fast ?

A credit card can help you build credit when you have none.

As you’re making payments on your credit card, that history is being recorded in your credit report, which compiles the information used to calculate your credit scores. As long as you make on-time payments and stay well below your credit limit, you can work your way up to a good credit score of 690 or higher. Your payment history makes up 35% of your FICO credit score; the amount of available credit used will account for 30% of it. Those are the two most important factors, but there are others. How long you keep the account open also impacts your credit. Once you work your way up to good credit, it's helpful to keep the starter credit card open or maintain the original line of credit by upgrading to a regular credit card with the same issuer. This way, you preserve the length of your credit history, which accounts for 15% of your credit score. Closing your account could have negative consequences.

Why mantras are recited 108 times?

According to Ayurveda, we have 108 marma points (vital points of life forces) in our body. So, this is why all mantras are chanted 108 times...

Last updated Feb 13, 2022

What was left in the Ark of the Covenant?

The Ark of the Covenant is a gold-plated wooden chest that, in Jewish and Christian tradition, houses the two tablets bearing the Ten Commandments...

Last updated Dec 20, 2021

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

What to look for in a starter credit card

When you’re new to credit, you generally can't qualify for the best credit card offers. Among starter cards, ongoing interest rates are often steep and credit limits are low. Don’t waste time looking for a credit card without a credit limit because issuers are required by federal law to determine your ability to pay. As a result, they offer a credit limit within your means. You also don’t need to look for credit cards that don’t run a credit check. These cards typically target those with bad credit, and they often come with an annual fee. There are plenty of starter cards that spare you that cost. In some cases, you can be choosy. Here are a few things to look for in a starter credit card: No annual fee. A starter credit card that doesn’t charge an annual fee makes it easier to preserve the length of your credit history and your credit score because you can keep it open for a long time at no cost. A path to a better credit card with the same issuer. Look for this option during your initial search. Once you establish a good credit history, you could upgrade to a better credit card with the same issuer and keep your original line of credit. This way, you're not stuck with the lower credit limits and lower rewards rates typically found on starter cards. A report to all three credit bureaus. The ideal starter credit should report payments to all three credit bureaus — TransUnion, Equifax and Experian. These companies record your payment history, which again is a key factor in your credit scores. If your card reports to all three bureaus, then all your possible bases will be covered when a lender pulls your credit report. The lender will have all of the information it needs to make a decision. Here are some features that are less important but could still prove valuable: Travel-friendly features. If travel is in your future, consider getting a credit card that doesn’t charge foreign transaction fees — a percentage assessed on every international purchase, typically between 1% and 3% of the amount charged. You can also choose a credit card that belongs to a Visa or Mastercard network, which has broad international merchant acceptance. Rewards. On a starter card, these aren't a top priority, but many cards offer them. If you're deciding among multiple rewards cards, consider your spending habits and how well they match up with the bonus categories.

Making the most of your starter credit card

With a starter card, your goal should be to hit or exceed the 690 credit score target necessary to establish good credit. Here's what you can do to work toward that: Pay on time and in full every month to avoid interest (or at least pay more than the minimum). Aim to use less than 30% of your available credit limit at all times. The lower your balance, the better.

Keep the account open and active.

Check your statement for mistakes.

Monitor your credit score through your issuer’s app.

Get your free annual credit report.

You can track your credit score for free through NerdWallet, certain banks and other third-party apps.

nerdwallet.com - Best Starter Credit Cards for No Credit of December 2022 - NerdWallet

Who is the No 1 intelligent person in the world?

The smartest person in the world was Isaac Newton, a true polymath whose brilliance never has been, nor ever will be, surpassed. Isaac Newton made...

Last updated Oct 26, 2019

How do you dry up mucus naturally?

Let's take a closer look at some of the at-home treatments that may help a runny nose. Drink plenty of fluids. Drinking fluids and staying hydrated...

Last updated Aug 15, 2018

Promotion

What are the 4 key things you need to build wealth?

Opinions expressed by Entrepreneur contributors are their own. For many people, success is synonymous with wealth or celebrity. ... Risk management...

Last updated Nov 4, 2020

Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Promotion

How do you remind someone to pay you example?

Send a gentle reminder via email or text message For example, you might say something like: “Hi John, I am just writing to let you know that the...

Last updated Mar 25, 2022