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Senior Contributor
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Registered: ‎10-02-2012
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Credit cards with no credit

A credit that you dont need credit history? Is there such thing other than a secured card. 

$300$300
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Epic Contributor
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Re: Credit cards with no credit


BearsAndTurtlesRtheBest wrote:

A credit that you dont need credit history? Is there such thing other than a secured card. 


Plan this very carefully and you can by-pass TONS of the Sub-Prime Crap.

 

1. Who do you bank with?

2. Do you have access to membership like Navy Federal Credit Union?

3. Do you have local Credit Union that backs their own credit card?

4. Do you have any favorite stores that might be good for additional discounts? Gap, Macy's, JCPenny, etc.?

5. Age? - and no credit and credit score currently AT ALL?

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
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95 Cards and Counting Smiley Tongue
Senior Contributor
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Registered: ‎10-02-2012
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Re: Credit cards with no credit

1. nobody

2. No

3. Of course

4. Macys 

5. 18

$300$300
(EQ FICO ---) (EX FICO ---) (TU FICO ---) Gardening Since 07/05/15 For All 3 Credit Bureaus
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Epic Contributor
Posts: 25,216
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Re: Credit cards with no credit

1. Work or school? Work at Macys' by chance?

2. Are you thinking of joining that credit union or?

3. You live at home or? Anyone like a parent have good credit and might be willing to add you to one or 2 of their credit cards for a little while and not actually give you the card to use?

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
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Re: Credit cards with no credit

[ Edited ]

long story short I enjoy learning how credit works. I've applied for credit cards for my parents. I even helped my sister start her credit history by advising them to do a joint account with my father. Anyway we currently have debt which would most likely to allow my mom or dad to do a joint account with me due to high UTL.. I am currently in my last year of high school and just turned 18 today and wanted to start my credit history ASAP I had a wells fargo bank acct but my mom closed it beacuse they were doing weird fees. I plan on banking with CITI or US BANK once I get my ROP course finished for Medical Billing and find job to actually put money into a checking acct. So yeah Credit one, and the new not well spoken of Cerulean or Matrix Discover couldnt give me anything Due to no history. The other problem is that I cant be an AU bacause my dad and I both have the same name and every time my mom or sis add me it goes to my dads credit report and report to the credit bureaus beacuse I dont have a credit history. Thats my story.

$300$300
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Frequent Contributor
Posts: 346
Registered: ‎02-01-2012
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Re: Credit cards with no credit

[ Edited ]

BearsAndTurtlesRtheBest wrote:

long story short I enjoy learning how credit works. I've applied for credit cards for my parents. I even helped my sister start her credit history by advising them to do a joint account with my father. Anyway we currently have debt which would most likely to allow my mom or dad to do a joint account with me due to high UTL.. I am currently in my last year of high school and just turned 18 today and wanted to start my credit history ASAP I had a wells fargo bank acct but my mom closed it beacuse they were doing weird fees. I plan on banking with CITI or US BANK once I get my ROP course finished for Medical Billing and find job to actually put money into a checking acct. So yeah Credit one, and the new not well spoken of Cerulean or Matrix Discover couldnt give me anything Due to no history. The other problem is that I cant be an AU bacause my dad and I both have the same name and every time my mom or sis add me it goes to my dads credit report and report to the credit bureaus beacuse I dont have a credit history. Thats my story.


The first thing you need is a bank accout and cash. Since you have no credit you can probably be approved for a Secured Card if you have the cash for it. Beyond that without any income even Student Cards seem out of reach. It's a tough journey BUT we will show you the light Smiley Happy

Contributor
Posts: 139
Registered: ‎07-31-2012
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Re: Credit cards with no credit

For unsecured card:

1) Part time job 

2) 6 months on above job (may be less or more, for example in PR it is 3 months for credit cards, loans are 6 months+) 

3) Apply for a student card, in my experience they give these to everyone that has a part time job even if they have no credit 

3a) If the above doesn't work you can always join a CU or small bank, build a relationship and apply 

 

*** Without a job you will have a hard time finding someone that will give you credit. 

****Easy way out is if your parents (or sister) have good credit and are willing to help you out by co-signing your first card. 

I'd rather go the co-sign route (vs a secure card due to fees) and give the 'deposit' to your parents if necessary. Would probably still need a job.

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Established Contributor
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Re: Credit cards with no credit

It's called becoming an AU on your parents / siblings / friends cards. If you get a good account you can bypass A LOT of starter cards and secured cards.

 

but secured cards are not end of the world,

1. they build interest

2. it's perfect emergency day fund, close account when you need money

3. it shows lenders you don't live paycheck to paycheck

4. it's over 9,000 !!!! percent better than cards like First Premier which is basically a secured card after you factor in all the charges, the only difference is it'll always keep adding up.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
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Re: Credit cards with no credit

As a former 18 year old who wanted to build credit ASAP, i HIGHLY recommend getting a student card! Either Capital One Journey or a Discover Student Card is easy to get. For Capital One, you may actually have to put your actual income, so if you ever had a part time or full time job or have one lined up put in the estimated yearly income (if you have no idea, just put 10000). Discover isn't as specific in their "annual income" area, so sometimes you can get away with a household income. I have to say my brother and I both used our household incomes for applications that don't specifically ask for personal income, and never had to ever submit proof of income!

 

Best of luck and happy building Smiley Happy

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Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
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Re: Credit cards with no credit


daybreakgonesXe wrote:

As a former 18 year old who wanted to build credit ASAP, i HIGHLY recommend getting a student card! Either Capital One Journey or a Discover Student Card is easy to get. For Capital One, you may actually have to put your actual income, so if you ever had a part time or full time job or have one lined up put in the estimated yearly income (if you have no idea, just put 10000). Discover isn't as specific in their "annual income" area, so sometimes you can get away with a household income. I have to say my brother and I both used our household incomes for applications that don't specifically ask for personal income, and never had to ever submit proof of income!

 

Best of luck and happy building Smiley Happy


if you have no idea put 10,000 ? how hard is it to multiply weekly paycheck  x 52? Smiley Tongue      $8 an hour x 32 hours = $256 (weekly pay) x  52 weeks (year)= $13,312

 

if your working entry level jobs at 18 that's what you should probably be looking at. If your waiting tables etc you'll make more. Just do simple math and don't guess too much.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
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