i dont have a credit score at all. how can i obtain a credit card with no credit.?

Answer 1

The easiest credit crads to get when you have no credit, are department store cards, or gas company cards. They are not as strict because they see you as a potential customer that will purchase from only them if they give you a credit card. Pay your bills on time, and soon you will be flooded with more credit card offers than you care for. Please be careful, and charge only what you can afford to pay back.

Answer 2

No credit is better than bad credit in most cases.

Student Credit Cards are easy if your a college student
Store Credit Cards/Gas Cards, most anyone can get these
Secured Credit Card - you secure the card with 300-5000$ that you send to the company, then use it like a regular card. At the end of one year if you have no late fees, over limit fees then you can usually get upgraded to a regular card and get your money back.
Orchard Bank, HouseHold Bank and other SubPrime credit cards
Credit Card through your bank or credit union

Most of these will have higher rates, annual fees, no rewards program. But so long as you use them correctly, making charges every month, making payments on time, never late, never exceeding your credit limit, then you will build credit and will qualify for better cards within a year or so.

Answer 3

Here is a relatively inexpensive way to build your credit:

- Save up at least $1000 in a savings account
- Get a 'savings secured' loan from the credit union/bank for the amount of the savings you have. Your money will stay in the savings account, earning interest and they will give you the money that they are loaning you. They will charge you a few percentage points over the rate you are earning. (Make sure your credit union/bank will report the loan to all 3 credit bureaus, otherwise find another one)
- Make the payments for a year - be sure that you are never late - and then pay off the loan (if your payments have not already done so).

For every $1000 that you borrowed, this might cost you $40 or $50 in net interest over the course of the year, but you will have a paid off loan with a perfect payment history for your credit score.

Answer 4

Believe it or not, you are better off with no credit score. Financially secure people do not rely on credit. They rely on money.

Most people will tell you that you can't make any big purchases without a credit score, but they don't have complete information.

If you have expenses in your own name and pay them on time(rent, utilities, etc.), you are establishing a payment history. There are still a few lenders that will look at your payment history to determine if you are credit worthy. It's more work for them, which is why most lenders just rely on a credit score.

Credit is a trap for most of us because it encourages us to spend more money than we make. Don't get caught in that trap. It's easy to get into debt, but very hard to get out.

The best things you can do for your financial future are:
1. Avoid credit as if it were a hungry cheetah.
2. Live on less than you make.
3. Save at least $50/month for emergencies, instead of getting an "emergency credit card".
4. Save at least $25/month for xmas, birthdays, and other predictable events.
5. Save at least $25/month for the larger purchases you will need to make. If you are diligent, you can save enough to pay cash for a car, or even a house. Some of us are doing it.
6. Use a debit card instead of a credit card.

If you appreciate the basics, and live a simple life while you are young, you will have no need for credit when you are older.

Answer 5

You have received a few good replies.

In addition please consider the following:

Apply for a debit card instead of a credit card. The withdrawals will come from your checking or savings acounts.

Try the bank that you use.

Apply for a small loan. Pay it back immediately. You now have a positive credit history.

Gas company credit cards are usually easy to obtain.

Good Luck!

Answer 6

Prepaid or debit cards:

These are the easiest option available for bad credit people. There are no verifications, no credit checks, no employment requirements, and the approval is instant. All they have to do is to deposit a money and a prepaid card is issued. This card has the borrowing or buying capacity equivalent to the funds deposited. The good thing with prepaid credit card is that it promotes financial discipline. Some prepaid card issuers report to various credit rating agencies, thus it helps in rebuilding your credit history. Apply online at: http://www.credit-card-gallery.com/PrePaid_Card.html

Answer 7

Secured credit cards are a great way to rebuild your credit. Most secured credit card companies require a deposit equal to the credit line your are seeking. Make sure they report your payment monthly to the major credit bureaus. Making your payments on time monthly will increase your credit rating. You will also get you deposit returned to you after one year, turning your secured credit card into a unsecured credit card.

Answer 8

I will assume you are of legal age. Start small. Try to apply at a smaller store that may have its own credit card. Call up credit card companies and ask for a small limit, like $500.00. If you have a job, they should give you one.

Answer 9

Oddly enough, you can usually get a small balance credit card even with no credit. Pay it up each month, pay all your other bills on time and you'll have good credit in no time.

Answer 10

Try to get a credit card from orchard bank, they help people start up credit