Applying for a credit card without a credit history can be difficult, but it’s not impossible. There are several options available, including secured credit cards, which don’t require a credit check in return for a deposit. Credit cards without a credit history are harder to find than mainstream ones, but there are credit card issuers who specialize in bad credit. These “credit builder” cards are usually easier to qualify for and may be a better option than a mainstream card.
How can I raise my credit score 50 points fast?
A credit score is a measure of your financial health, and it’s used by lenders to decide whether or not to lend you money. Lenders check your credit score by reviewing the information held by credit reference agencies. You can request a copy of your credit report for free to ensure that there are no mistakes on it.
It’s important to use your credit card responsibly. This way, you’ll be able to build a good credit rating and improve your chances of getting credit card with bad credit competitive credit in the future. Make sure you stay within your credit limit and make minimum payments on time. The interest rate you’ll be charged will depend on your credit rating.
As with any form of credit, it takes time to establish a good credit history. It’s best to start small and gradually prove that you can keep up with repayments. If you don’t have any credit history, you can apply for a specialist credit card, called a credit builder. Typically, these cards have a lower spending limit and a higher interest rate. However, you can still use them responsibly – as long as you keep to the spending limit and make full repayments each month.