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Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,552
Registered: ‎10-02-2012
0

Credit cards with no credit

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

$1,000$600
EX FICO---, EQ FICO---, TU FICO 603, Gardening Since 10-05-14
Epic Contributor
Creditaddict
Posts: 20,860
Registered: ‎10-23-2007
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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- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,552
Registered: ‎10-02-2012
0

Re: Credit cards with no credit

1. nobody

2. No

3. Of course

4. Macys 

5. 18

$1,000$600
EX FICO---, EQ FICO---, TU FICO 603, Gardening Since 10-05-14
Epic Contributor
Creditaddict
Posts: 20,860
Registered: ‎10-23-2007
0

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- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Senior Contributor
BearsAndTurtlesRtheBest
Posts: 3,552
Registered: ‎10-02-2012
0

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.

$1,000$600
EX FICO---, EQ FICO---, TU FICO 603, Gardening Since 10-05-14
Frequent Contributor
CreditWorld2013
Posts: 346
Registered: ‎02-01-2012
0

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 :smileyhappy:

Contributor
Croselx
Posts: 139
Registered: ‎07-31-2012
0

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.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

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
Valued Contributor
daybreakgonesXe
Posts: 1,854
Registered: ‎11-17-2012
0

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 :smileyhappy:

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 708 TU FICO 747 Credit Karma (TU) 771 Transrisk 783/990 Credit Sesame (EX) 754 Credit.com (EX) 753 VantageScore 3.0 712
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

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 :smileyhappy:


if you have no idea put 10,000 ? how hard is it to multiply weekly paycheck  x 52? :smileytongue:      $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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