How easy is it to get a credit card if I haven't established any credit?

I%26#039;ve never had credit, and the three credit reporting companies have no information about me (I%26#039;ve checked). How easy is it to open up a credit card, and what rates and limits can I expect on it?

Do they treat me like I have a credit score of 300 or something more average like 600?

I%26#039;m 18 years old if that matters, but my parents want me to go it alone, so I can%26#039;t co-sign.

How easy is it to get a credit card if I haven%26#039;t established any credit?

I work in the credit card industry making decisions on whether to approve or deny credit applications and credit line increases, so I know firsthand about your situation.

The easiest credit card, hands down is a secured credit card. How a secured card works is that a deposit is placed upfront which is used as collateral to establish a matching credit line. For example if you deposit $300, then your credit limit is $300, deposit $3000, your limit is $3000, and so on. The deposit is only used for nonpayment on the account if it%26#039;s sent to collections, but it%26#039;s given back usually after a year or so, once consecutive on-time payments are made, and the card upgrades to a regular card. Major banks like Wells Fargo, Bank of America, USBank, Citi offer these.

A tip on how to build credit not just with these types of cards but with any cards is to make SMALL purchases($20/max) or purchases that you can afford to pay off in full, on time, every month. This way, you don%26#039;t rack up a lot of debt, but you%26#039;re still building credit at the same time.

Also, in addition to building credit with a credit card, I would also suggest you enroll with PRBC, which is a new credit bureau that reports rent, cell phone, utilities, and other accounts that don%26#039;t report on the 3 main agencies, as alternative credit. I posted links that explain this more in detail also.

Good luck!

How easy is it to get a credit card if I haven%26#039;t established any credit?

I had the same problem when I was your age. I applied with a few different companies and eventually got a visa card through the bank where I have a checking and savings account. For example; if you have a Wells Fargo checking and savings account, apply for a Wells Fargo Visa/MasterCard.

I had a pretty low limit ($500 I think), but after making the first few payments in full and on time it quickly went up.

I%26#039;m not sure why, but I think having a savings account in addition to a checking will work in your favor. And of course being employed.

How easy is it to get a credit card if I haven%26#039;t established any credit?

Credit card companies are quick to respond to the growing trend of Internet users by offering online credit card application. As you might have noticed, many credit card companies whether online or offline for that matter, announce they offer the best credit card online, even with instant approval if you apply for it on their website. This method allows the applicant to get approval within a few minutes after submitting the online application form at the company website. Although this isn閳ユ獩 truly instant credit card application, it definitely saves some time when compared to the traditional offline process. The approval process takes only a few minutes, but the credit card company will still need to manually mail you the physical card. This may take up to 10 days before you receive it.

It could take up to a month or two before you receive your credit card if you apply for one via the more tradition ways. You would have to visit the office of the card company personally or call up the customer service hotline to request for an application form to be mail to you. Then, once you have submitted your supporting documents you will need to wait for a reply as the company runs a check on your credit history.

The good thing about applying online for a credit card is that you know if you are approved for it or not within a fairly short time. Another advantage of filling in the application online is that it also allows you the opportunity to compare the cost of credit offered from a lot of different card companies.

There are certain limitations on who is eligible for an instant online credit card application approval. Most instant credit card application offers are targeted to people with good credit records. The competition on the credit market is so high today, that some companies are willing to include people with less than fantastic credit scores in order to get customers. The bottom line is that even if your credit history is not so good, you have the ability obtain an instantly approved credit card. So regardless to what your credit rating is, there is no reason not to use an instant credit card application.

Your credit card application will usually get approved instantly if you maintain a healthy and excellent credit history. However that does not mean that your application will be rejected if you credit history is less than perfect. With so much competition going around in the credit card industry, many companies are willing to take the risk and accept applicants with average credit history. Some of them even provide a card for those people with bad credit.

Before submitting your application online, take the time to do some research. Make sure you visit a legitimate credit card directory to compare card information first. Compare cards and consider the benefits that you want to receive as you do your research. You will also want to read the terms and conditions, yes I know they are enough to put you to sleep, at least once. The important items to take note of are annual fees, interest rate during the introductory period, interest rate after the introductory period, length of grace period and minimum payment amount. Pay particular attention to late payment fees and other unusual penalties. Call up the respective credit card customer service department if you have doubts or any queries with the terms and conditions. Take to time to get the card you want that will serve you the best.

Remember, once you get the credit card, that you should always use your credit card in a responsible way. By paying your outstanding balance before the due date and, if possible, pay the entire balance each month to save on interest fees you will ensure that you do not get into debt problems. Your credit score is directly affected by paying your bills on time.

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