| Having no credit doesn't have to keep consumers | | | | credit cards are much easier to obtain than some |
| from getting a credit card. There are several options | | | | other credit cards. Again, you will not start out with a |
| for consumers with no credit to get a credit card. | | | | very high credit limit, but if you make your payments |
| It's becoming increasingly difficult to function in today's | | | | on time, card issuers will increase your credit limit. |
| society without having credit. However, when you don't | | | | A secured credit card is another option for consumers |
| have credit it can also be complicated to obtain a | | | | that do not have credit established. When you have a |
| credit card. Credit card companies need to check your | | | | secured credit card ( you make a deposit into a |
| credit history to determine whether they should extend | | | | savings account. The amount of your deposit will |
| credit to you. When you do not have a credit history, | | | | dictate your credit limit. Since you have made a |
| the credit card companies have no way of knowing if | | | | deposit against the credit card, the creditor does not |
| you are a credit risk. Even when you don't have a | | | | have any reason to deem you as a risk. In the event |
| credit history, there are some ways you can obtain a | | | | that you do not pay your credit card bill, the creditor |
| credit card. | | | | uses the amount of your deposit to pay the credit |
| The bank or credit union where you have your savings | | | | card balance. |
| or checking account is a good place to go to apply for | | | | Many credit card issuers offer the option to upgrade a |
| a credit card when you do not have established credit. | | | | secured credit card to an unsecured one after a |
| If you have income and have not bounced any | | | | certain period of time. If you go the route of a secured |
| checks, you have an excellent chance at getting a | | | | credit card, one that can be upgraded is a better |
| credit card from your bank. Since you do not have | | | | choice than one that cannot. You should also find out |
| credit history, you will most likely start out with a low | | | | how the credit card is reported to credit bureaus. |
| credit limit. Once you begin to make purchases with | | | | Some secured credit card issuers report the credit |
| your credit card and make timely monthly payments, | | | | card as being a secured credit card which can raise a |
| you can negotiate a credit limit increase if your card | | | | red flag in the eyes of future credit. When you choose |
| issuer does not give you one automatically. | | | | a secured credit card make sure it is one that reports |
| If you are not able to get a credit card from your bank, | | | | as if it were an unsecured credit card. |
| you have other options. Store credit cards and gas | | | | |