Unsecured Credit Cards for People With No Credit
If you have no credit history and would like to begin the process of building your profile without putting down a security deposit, than the unsecured credit cards for people with no credit are the best places to start. Every credit card newbie has to start somewhere and while it's generally recommended that consumers start with a secured credit card or a student card, the below cards provide an alternative for consumers desperate to build their credit score from scratch.
The credit cards below each report to the three major credit bureaus - Experian, Equifax and TransUnion - and are promoted as bona fide credit-building tools. The cards below do not require a security deposit to guarantee your credit line, and are likely to start you off with a modest credit line - usually $500 and below.
The first step towards a good credit score is by building credit; the unsecured credit cards for people with no credit below provide such an opportunity, and can help consumers get approved for some quality credit card offers with responsible usage down the line.
To learn the difference between a secured and unsecured credit card, check out our Infographic explaining the similarities and differences between the two types of cards for consumers with limited or no credit.
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Can I get an unsecured credit card with no prior credit history?
First, it's always better late than never when deciding to build your credit history and score. Whether you just turned 18 or you're 20-something who's sworn off credit cards until now, building your credit is imperative to your future, especially if you plan on becoming a homeowner or hope to someday buy your own car.
The above credit cards require no security deposit, and can get you on track immediately when it comes to building credit. That said, you should be careful to consider fees, and NEVER carry a balance with these credit cards since the interest rates are high. The more credit you build through on-time monthly payments, the more likely you'll be to get approved for more impressive credit card offers down the line. That means less interest, cash back rewards and 0 percent intro periods.
For now, these cards are a good place to begin.
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