If you don’t have a credit score and are interested in getting a credit card, you may be wondering how to do it. It’s true that you won’t have a credit score if you don’t have any history of using credit, but that doesn’t mean there aren’t ways to get one!
Get your credit report
If you’ve never ever checked your credit report before, doing so is an important step in the process of getting a card with no credit history. This will give you an idea of what kind of information is on file and whether there are errors in it that could affect your application.
In addition to checking for mistakes, looking at your credit report can also help you spot signs that someone is seeking to steal your identity or open accounts in your name. For example, when purchasing a car or applying for a mortgage, most lenders will run a background check as part of their evaluation process; if they find this type of activity during their investigation, they’ll reject the application automatically.
“Income is also a major factor that’s considered, especially when figuring out someone’s credit card limit,” as stated by SoFi advisors.
Get a secured credit card
How to get your first credit card if you have no credit score or credit history? Secured credit cards are a great way to build your credit history if you have no established credit. They require a deposit of money, but then they work just like any other card.
They’re not the same as prepaid debit cards, which don’t help establish your credit score at all. This is because secured cards require payments on time and good behavior to be eligible for an unsecured card in the future (which can also be used anywhere).
Work on paying bills on time
Paying your bills on time is important, especially for credit cards. It shows that you’re responsible and serious about maintaining good credit. If you have problems paying on time, let the company know instantly so they can help make arrangements with you.
Also, don’t neglect to pay other accounts like car loans and mortgages because they can also affect your credit score in a positive way by showing lenders that you are able to manage money responsibly over an extended period of time.
Take out a loan
You can still qualify for a credit card without a credit score by taking out a loan. Many banks and credit unions allow you to apply for a loan without having to show proof of income or assets, so this is one way you can establish your track record with them.
When you take out a loan, be sure that you pay it back on time and in full. That’s how they’ll know they can trust you—and it may also help boost your credit score!
If you have good intentions of building up your credit score but don’t know where to start, these steps can help. It’s important to remember that there is no fast way around it—it takes time and effort on your part. But if you follow them diligently, you will not only be able to qualify for credit cards without a credit score but also build up your credit history in no time!
