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U R @: Education Center : Understanding the Fine Print : No Credit Credit Cards
NO CREDIT CREDIT CARDS
Only a few months ago, there were a number of credit card options for people with no credit and or short credit histories. However, many credit card companies have stopped offering these credit cards and increased the requirements for people to get approved for credit cards.
When applying for a "no credit" credit card, there are few important things to consider. First, be sure you have no credit. For example, if you have had a student loan, car loan, or any other type of credit account, you will have a credit history. In fact, you might even have a decent credit score. If you fall into this category, you may want to take advantage of a free credit report service and check your credit. You might be pleasantly surprised. (You can get a free credit report here. The link opens in a new window.)
If you truly do have no credit and want to establish a credit history, we recommend the card below, as it charges no and or low fees relative to other credit cards for people with no credit.
AMERICAN DREAMCARD™ MASTERCARD® |
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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N/A
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N/A
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14.99% or 21.99% Variable *
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$0- $59* *
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Average
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In addition to the above card, there are a number of secured and unsecured credit cards available to people with no credit history. However, most of these cards charge hefty annual fees and/or require a security deposit.
BLUE CASH® FROM AMERICAN EXPRESS |
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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N/A
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N/A
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% *
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$0 *
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Excellent
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NEW MILLENNIUM BANK SECURED BLACK DIAMOND VISA® |
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- Approved regardless of credit history
- Credit limits up to $10,000*
- Issuer's Description: New Millennium Bank is now offering secured Black Diamond Visa® and MasterCard® credit cards for those individuals with less than perfect credit. With credit lines secured by their savings account in amounts between $300.00 and $5,000.00, these cards can be used just as you would any credit card at over 10 million establishments worldwide. People CAN apply to get both cards and they can even add a co-applicant name and get additional cards.
- Charges a $99.95 Application Processing Fee
- $59 annual membership fee
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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N/A
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N/A
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19.50% *
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$59 *
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Bad Credit OK
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You can also view additional "no credit" credit cards here.
Read more related articles: Understanding the Fine Print |
