Money which can be used to buy anything we would like, yet which we don’t hold, feel and count in our hands. Money that may both save our lives and destroy it. Money is absolutely essential and our life time revolves around it, from determining way of earning it to how to pay it and our efforts to save it for an improved future.
The modern concept of money doesn’t involve its physical presence, but instead presents itself in the form of a card, a mysterious card that may instantly make wishes come true. The Credit Card has revolutionised money, transcending physical boundaries and setting up multiple new avenues. There are cases when the only real item we truly need is our credit card and the prospect of carrying money has changed drastically.
That are the folks with no credit history?
Credit History is connected with everyone who has used a charge card for almost any purchase. Individuals with no credit history are mostly students and new immigrants in a nation, who’ve never applied for loans. In the case of card applications, a person with bad credit history has a better chance to getting a charge card when compared to a person without any credit history. There are however avenues to have a charge card with no credit history.
Folks who wish to use for charge cards without any history can choose from some of the options below, that may significantly enhance their chances to getting that elusive cards.
Student Card – Most major banks and financial institutions offer exclusive student cards targeted towards the student community. These cards don’t require an applicant to possess previous credit history and may be obtained if the individual meets certain criteria. 신용카드 소지자 대출 Having a job can make it easier to have the card approved and banks prefer to hand out this card to those who have a source of income.
Pre-qualification Test- Certain banks allow individuals with no credit history to have a pre-qualification test online. This test lets them know if they could get yourself a card approved and the reasons why the card was denied, if it is rejected. This information could help one prepare better next time they apply for a card.
Store Credit Card – Certain nations have the thought of store charge cards, which are easier to have and do not want any credit history. These cards have low credit limit and high interest rates and generally have cards that aren’t Visa or MasterCard approved.
Prepaid Cards – Individuals with no credit history but with disposable income at hand can apply for prepaid cards. These cards are as effective as normal charge cards nevertheless the credit ceiling is restricted to the prepaid amount. There’s no concern with exceeding credit limits or late fees with these cards.
Co-signed cards – Banks offer co-signed cards for people with no credit history. These cards require someone with decent credit to co-sign for you, making use of their financial backing increasing your possibility of approval. Co-signed cards could be a smart move when you have a person who trusts you and is ready to to remain your behalf, though additionally they allow your financial transactions to be viewed by the co-signee.
Secured Credit Card – Secured cards are similar to normal charge cards generally in most aspects, except the truth that one needs to make a security deposit to be able to be eligible for a credit limit. Individuals without credit history can choose this card if they have suitable security deposits together, that’ll essentially guarantee them the credit card.
Applying for charge cards without any history could be a tedious and long drawn affair but you’ve got to keep in mind that applying with any and all banks is not a smart thing to do. Rejection is part of this method and you’ve got to be smart enough to find the alternative cards stated earlier in case of rejection. Getting any of these cards approved is probable adequate to have a person a credit history, which makes it easier in order for them to get better credit options in the future.