| Many times people who have never had a credit card | | | | on time. Once you've done this for a few months, you |
| or any other form of credit think that the banks will turn | | | | can try to apply for the Visa or MasterCard again. The |
| them down for lack of credit history. While this may be | | | | banks will then have your income and a credit history |
| true in some cases, no credit does not mean you have | | | | to use as a basis for determining whether or not to |
| "bad credit", and provided you have a steady income, | | | | extend you credit.Another option to establish your |
| chances are you will be able to obtain a credit card.In | | | | credit when you don't have any, is to get yourself a |
| fact, there are many banks that routinely offer Visa or | | | | secured credit card. Secured credit cards are limited to |
| MasterCard credit cards to first time applicants. | | | | the amount of money that you deposit with the credit |
| Everyone must establish a credit history somewhere! If | | | | card company, so essentially, they are a debit card |
| you have employment or other means of steady | | | | that is not connected to a checking account. While |
| income, select a bank and apply for their credit card. | | | | they have their disadvantages, a secured credit card is |
| Don't run out and apply at ten different banks | | | | a viable option for someone who is having difficulty |
| attempting to increase your chances, because that will | | | | establishing a credit history and obtaining their first |
| actually have the opposite effect. Each time you apply | | | | credit card.In the process of establishing your credit |
| for credit, whether it is for a credit card or a loan of | | | | history with your department store card or secured |
| some sort, the lender makes an inquiry on your credit | | | | credit card, it is absolutely critical that you do not have |
| report. Rejections show up on your credit report, and | | | | late payments or miss a payment. However, you may |
| multiple rejections send off a red flag to potential | | | | opt to carry a small balance from one month to the |
| creditors that you are desperate for cash- and | | | | next on your department store card as it will show |
| therefore might have difficulty repaying the credit.If | | | | potential lenders that you are able to handle an |
| your first attempt to getting your first credit card | | | | outstanding balance. For example, if you've made a |
| doesn't land you a card, there are two other things you | | | | purchase or purchases that total $100 in your first |
| could do to start building your credit to remedy the | | | | month, when you get your statement, pay $70 and |
| situation. First, head to your favorite department store | | | | allow $25 to carry over to the next month. When the |
| and try getting a store specific credit card. These | | | | next statement comes, pay the $25 and half of |
| department store cards are easier to get than a Visa | | | | whatever purchases you've made since your last |
| or MasterCard, and you will most likely be approved | | | | statement.As long as you consistently pay your bills on |
| for one of these cards even if you've never had credit | | | | time, and do not carry a large balance from month to |
| before. Once you have a department store card, buy | | | | month, you are establishing a strong credit history. A |
| something and then pay it off when the statement | | | | few months of these good credit habits and you |
| arrives. You might want to do this for a few months, | | | | should have no problem when you apply for a Visa or |
| making purchases and paying them off when the | | | | MasterCard.This article has been provided by Creditor |
| statement arrives. This will start establishing a credit | | | | Web. At you can compare over 100 credit cards from |
| history, and it will show that you make your payments | | | | multiple banks and apply for a credit card online. |