Credit Cards » Limited or No Credit History Credit Cards

Limited or No Credit History Credit Cards

Credit cards for limited or no credit is a good solution for those holders who want to make day to day purchases and raise their FICO score. When applying for the card that requires limited or no credit, you obtain a useful financial tool that provides you with the services with which you can achieve your financial goals.

Applying for a Credit Card With No or Limited Credit History

Getting a credit card when you have no credit history or a very limited one can seem impossible, especially with the new rules. However, there are several cards that a person with limited credit history can secure in order to continue to build up their credit score. If you are just starting out, you will need to find the credit card offers exclusive to limited or no credit consumers. You may wish to start with a department store or a gas card to help boost your score before applying for a more traditional credit card.

When you establish an active, open credit account, it becomes most important to understand how credit works and the importance of paying card bills on time each month. Understanding how grace periods work and being able to budget your money to pay off your balance in full each month can help you boost your credit history more efficiently. If you miss payments, you will be subjected to a higher interest rate on your card.

Look for card issuers that offer credit cards to new credit users. These cards will be designed to grow with you as your credit score grows. While your initial credit limit may seem somewhat low, your good payment history on the card can help increase your limits down the line. You may also be able to improve your credit score enough to allow you to qualify for a larger selection of plastic cards in the future.

Credit cards offer great protection for consumers and can be an excellent resource for managing money. If you have never applied for one before, be sure you understand the terms and conditions of each offer rather than applying for too many cards at one time. Too many applications for credit can actually harm your credit, rather than rebuild it. It is also important to remember that if this is the first time you are applying for a credit card, be sure to select the card because it is the right one for you and not because of the great promotional products that are being offered for free with each applications.