Money which may be used to buy anything we would like, yet which we don’t hold, feel and count in our hands. Money which can both save our lives and destroy it. Money is a necessity and our whole life revolves around it, right from figuring out means of earning it to how to spend it and our efforts to save lots of it for an improved future.
The modern concept of money doesn’t involve its physical presence, but rather presents itself in the shape of a card, a mysterious card which can instantly make wishes come true. The Credit Card has revolutionised money, transcending physical boundaries and opening multiple new avenues. You can find cases when the sole item we truly need is our charge card and the outlook of carrying money has changed drastically.
Who are individuals without credit history?
Credit History is associated with everyone who has used a credit card for almost any purchase. The people without credit history are generally students and new immigrants in a nation, who’ve never taken out loans. In case of card applications, an individual with bad credit history includes a better chance to getting a credit card than the usual person without any credit history. You can find however avenues to obtain a credit card without credit history.
People who wish to use for bank cards without any history can choose from a few of the options below, which can significantly boost their chances to getting that elusive cards.
Student Card – Most major banks and financial institutions offer exclusive student cards targeted towards the student community. 소액결제 현금화 These cards don’t require an applicant to have previous credit history and may be obtained if the person meets certain criteria. Having work can make it easier to obtain the card approved and banks prefer to hand out this card to those who have a way to obtain income.
Pre-qualification Test- Certain banks allow individuals without credit history to take a pre-qualification test online. This test lets them know if they could get a card approved and why the card was denied, if it is rejected. These details may help one prepare better next time they apply for a card.
Store Credit Card – Certain nations have the thought of store bank cards, which are easier to obtain and do not want any credit history. These cards have low credit limit and high interest rates and generally have cards which are not Visa or MasterCard approved.
Prepaid Cards – Individuals without credit history but with disposable income accessible can apply for prepaid cards. These cards are just like normal bank cards but the credit ceiling is limited to the prepaid amount. There is no concern with exceeding credit limits or late fees with your cards.
Co-signed cards – Banks offer co-signed cards for those who have no credit history. These cards require someone with decent credit to co-sign for you, with their financial backing increasing your potential for approval. Co-signed cards can be a smart move if you have somebody who trusts you and is ready to sign up your behalf, though they also allow your financial transactions to be viewed by the co-signee.
Secured Credit Card – Secured cards are similar on track bank cards in many aspects, except the fact one needs to make a security deposit in order to be qualified to receive a credit limit. Individuals without credit history can choose this card if they have suitable security deposits together, that may essentially guarantee them the credit card.
Applying for bank cards without any history can be a tedious and long drawn affair but one has to keep in mind that applying with any and all banks is not just a smart thing to do. Rejection is an integral part of this technique and one has to be smart enough to choose the alternative cards stated earlier in case there is rejection. Getting any of these cards approved is probable good enough to obtain an individual a credit history, making it easier in order for them to progress credit options in the future.