Have Limited Credit History? Getting A Credit Card

Obtaining a limited credit history credit card is an easy process if you know where to look and how to apply. Limited or no credit history credit cards often have higher than average interest rates. However, once you have established positive credit, you can then have access to better credit card offers.

Step 1

Begin the process by first researching the different limited credit history cards that might be available. There are numerous online companies that offer this type of credit card. All of these websites list various companies that offer credit cards to individuals who do not have an extensive credit history.

If you have a bank account, you can also talk to them about what entry-level credit cards they may have available for their account holders. In some cases, banks may offer better interest rates for their customers, particularly for those who are starting their credit history.

Step 2

Complete the credit card application. You will be asked to provide information about your income, employment and residency. You will also be asked to provide your social security number. In some cases, the application may require you to sign-up for a login and create a password and you may also be asked for your email address.

Be wary of credit cards that require a deposit in order to open an account. Since you are just starting your credit history, some credit card companies may have what are called secured cards available. However, there are plenty of credit card companies that offer unsecured cards that do not have any deposit requirements.

Step 3

Wait for an answer. Most online applications provide you with an answer about approval within a matter of minutes to a matter of hours. If you are approved, then you will receive your new card within a few weeks in the mail.

Step 4

If you are denied, then you will be given a reason for the denial, usually in the mail. You are entitled to receive a free copy of your credit report if this occurs.

Order a copy of your credit report and carefully review it to determine if someone has fraudulently opened accounts in your name and stolen your identity. If this proves to be true, then file a police report and contact the credit reporting agency to challenge the entries. Include a copy of the police report with your letter to the credit agency.

Step 5

If you are approved and receive your card in the mail, then you are on your way to establishing a credit history. It is now up to you to pay your monthly payments when they are due and in the amounts required. Remember, that you will be charged additional fees if you go over your credit limit, make late payments or miss a payment.

Summary

If you have limited or no credit history it is possible to find a credit card to establish credit. Begin by researching various credit card companies and then apply to the company that you select. Once you have been granted credit, use your line of credit wisely and make your payments on time.


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