Finance | Credit Cards

The 9 Best Credit Cards For People with No Credit

A credit card is a type of card that you can use to buy goods and services. In appearance, a credit card resembles a debit card and a prepaid card. However, their operation differs in several ways. A credit card enables you to use credit to buy goods and services at places where they accept the payments. Most banks give credit cards to people with good credit history. However, there are credit cards for people with no credit history.

Credit cards for people without any credit history are suitable for young people who are just starting their life after school. They can also apply to adult people who have never used any financial services from banks. In such a scenario, the bank you wish to get the credit card from knows very little about you. But at the same time, banks need new customers to continue growing. So they will apply the existing regulations to help you.

Many people do not know how to get a credit card with no credit. A first-time credit application requires you to have someone with a good credit history to back you in the process of credit card application. That could be your parents, your friend, or any other relative willing to help you in the process. After that, you can start building up your credit score with time so that in the future, you can qualify for a larger credit limit.

Why is A Credit Card Important?

Credit Cards For People with No Credit

A credit card is essential when it comes to convenience in paying for goods and services. Sometimes you may find places that do not accept credit cards due to security issues. Such situations require you to use a credit card. A debit card and a prepaid card can do. But let us leave the two aside for today since our primary focus is on credit cards.

Also, a credit card helps you when in need of specific goods and services. Remember that banks allow you to spend money when you have nothing in your account. You need to pay the money later, mostly at the end of the month. Almost all financial institutions issue credit cards. The use of credit cards brings a lot of profits each month because in each transaction you make, there are some additional fees they charge you.

Moreover, having credit cards is safer than carrying cash. Cash can get lost, thus making you become stressed. Robbers may attack and get away with your money if they recognize that you are carrying money in your car or pockets. They may even cause severe injuries to your body or even cause death.

Another use of credit cards is to help you send money to your friends and relatives. Knowing how to transfer money using the routing number can be significant if someone far from you needs your financial assistance. Again, if you work far away from home, you can send money to your confidant at home to help you with development activities.

The recipient must also have an account with a particular bank and possibly a debit card so that he or she can withdraw the money or use their cards to buy you some goods for your various developments.

Is it Safe to Accept Credit Cards Payments from People with no Credit for My Business?

There is no danger of accepting credit card payments from people with no credit history at all. What you need is money. So long as they have enough credit in their cards, then you should not worry as you only need to have a successful payment to occur and get your money.

After all, credit card processing for small business no monthly fee is profitable because many people tend to prefer buying goods and services using their credit cards. So you will be able to tap both cash customers and credit cards.

Moreover, you can increase customer experience in shopping for your goods or services. Above all, credit card payments are convenient for your business. Your money is also safe from robbers who might time you at the end of the day as you go to bank your money. With credit card payments, money goes directly to your account.

Remember that you can accept credit card payments without a merchant account by considering the third party services from reputable companies such as PayPal, Payoneer, Square, and Skrill, among others. By doing so, you can save a lot of money required during the application process before you get an account.

What the 9 Best Credit Cards for People with No Credit?

My research on the best credit cards for people with no credit has landed me on several of them. However, I have selected the best nine for you. They include the following.

1) Discover it Student Cash Back

The card is very efficient for students. It is among the best since it gives you a 5 % cashback on any transaction you undertake, such as buying goods and services in grocery stores, filling stations, and supermarkets up to the quarterly maximum upon activating.

In addition, the card enables you to get a 1% cashback. The cashback scheme continues forever as long as you use the card, although terms and conditions might change with time. Remember that you will not pay an annual fee. In addition to the above, you will be able to get a $20 statement credit every school year.

Does that sound interesting? Above all, you can redeem your rewards anytime you need it. You can also use your rewards to shop at Amazon. When checking out, just go to the option that requires you to use your rewards. To apply for Discover it Student Cashback, and you are good to go.

2) Capital One Platinum Credit Card

Capital One Platinum Credit Card is another sound credit card for people with no credit history. However, it does not give cash back, miles, or points at any given time. However, it serves you right when it comes to making purchases or paying bills.

As you use the card, you will be able to build your credit with time and can qualify for better services. Interestingly, you will not be charged any annual fee on your card. After five months of the card usage on making one time payments, you will have a credit line increment.

That will enable you to grow financially if, at all, you use the card to purchase business commodities. All in all, the card is handy when you want to use money, yet you are broke. Paying on time will increase your credit score. Apply for the Capital One Credit Card.

3) Discover it Secured

Upon getting this card, you will be able to earn 2% cash back at gas stations and restaurants, accepting the card on up to $1,000 in a combined transaction each quarter of the year. The more you utilize the card, the more you get more cashback. Moreover, you can earn unlimited 1% cashback automatically on all other purchases. It is an attractive card to own.

Although the cash back applies to selected categories of goods, it is of great importance to you since it helps you save a lot. Above all, it offers rewards on every transaction you make. You can later use the rewards to buy goods and services either online or at a physical store. There is no annual fee you are going to pay for this card.

4) Capital One Secured MasterCard

Upon getting this card know that it does not offer cashback, miles, or points. However, that should not be an issue since the card will make everything to do with paying for goods and services convenient. Imagine a situation where you have no money and need to buy food or pay for a particular medicine.

The card can help you very much. As compared to other cards, Capital One Secured MasterCard has the potential of earning a bigger credit limit as compared to others. After the first five months, you can get a credit limit higher than the deposit.

That can help you very much if you want to make expensive purchases. There is no annual fee for using this card. Above all, you can manage your account 24/7 using your mobile phone and applications.

5) Discover it Student chrome

If you have been looking for a card that will work for you right, then you have Discover it Student chrome. The card will earn you a 2% cashback at gas stations and restaurants after spending amounts of up to $1,000 in combined transactions concerning purchases each quarter of the year.

Again, you will be able to earn 1% unlimited cash back automatically on all other purchases. However, cashback applies to particular categories of goods. Moreover, you will be able to receive a $20 statement credit every school year when your GPA is 3.0 or even higher for up to the subsequent five years.

Another good thing with the card is that there are no APR charges for late payments. There is no fee on the first late payment as well. Again, there is no annual fee charged on your account. As a US-based customer, you will always get 24/7 customer care on any issue with your card.

6) Citi Secured MasterCard

Although the card does not have cashback, miles, or points, there is nothing to worry about since other services by the card are just excellent. Buying goods and services has never been as easy as it is with this card. Upon paying the $200 deposit amount, you will be able to qualify for a good credit line.

Also, note that there are no annual fees charged on this card. Citi Secured MasterCard is a sound card to begin building your credit score. As soon as you start using the card, you realize that your score begins to build up with time.

Remember always to pay your bills on time so that your credit score shoots fast. Above all, the card is useful to you anywhere in the world since MasterCard is acceptable worldwide. Also, managing your account is easy since it is available on your mobile phone, 24/7.

7) Capital One Quicksilver One Cash Rewards Credit Card

Applying and getting this card will start earning you an unlimited 1.5% cashback on every purchase you make every day. Getting cashback in your account is beneficial since the accumulation over time will enable you to have the right amount of money that you can use to buy something.

Unlike other cards, this card will require you to pay an annual fee of $39. Again, you will always be able to monitor your credit score online with Credit Wise. The card is free from fraud if it gets lost accidentally.

It is due to high-security measures that have been put by the company to curb possible frauds. Moreover, your rewards do not expire. You can also receive customized alerts. Again, when you pay your debts on time, you will be able to increase your credit score.

8) Petal Visa Credit Card

You need to get a card that rewards you for using it to buy goods and services. Petal Visa Credit Card gives you up to 1.5% cashback upon making twelve on-time monthly payments. Moreover, you get 1% cashback on genuine and eligible purchases immediately.

Every time you buy anything, remember that you are adding value to your card. Then the best of all is when you pay back your credit debt online. You increase your credit score by a large magnitude. There is no annual fee to pay when using this card. It is because everything about the card usage is just free. There is no late payment fee or even an international fee.

Use the card anywhere in the world since Visa is acceptable all over the world. Furthermore, the company gives you a higher credit limit of $500 – $10,000 every month. The amount is good enough to support your monthly expenses. Finally, you do not need to deposit anything to get the credit card.

9) Open Sky Secured Visa Credit Card

Open Sky Secured Visa Credit Card has annual fees of $35. The amount is little and not that difficult to pay. Again, the card does not offer cashback, miles, or points at all. However, despite all that, the card has its good things.

First of all, the issuer will never want to know your credit background. Users have given positive feedback on the card usage on Facebook. Just look for the page Open Sky Card and see what others have to say about it. The credit company provides a lot of information concerning their services.

If you have things you do not understand, you can consider reading their terms and conditions available on their website and get detailed information. You will also benefit from the credit tips that they offer readily to their esteemed customers. Above all, checking your credit score with Open Sky is easy and straightforward.

Bottom Line

When you have no credit record, you can find it challenging to find a credit card from most of the available financial institutions. However, the companies mentioned above have come out to help people with no credit history.

The companies help you to slowly gain credit scores within a given time. The only thing you should do is to be keen in ensuring that you make timely payments of your debts. Building up a strong credit record is very important for your future financial advancements.

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