Money which may be used to get anything we wish, yet which we do not hold, feel and count inside our hands. Money which could both save our lives and destroy it. Money is a necessity and our life time revolves around it, from determining method of earning it to how to pay it and our efforts to save it for a better future.
The present day concept of money doesn’t involve its physical presence, but instead comes up in the proper execution of a card, a magical card which could instantly make wishes come true. The Credit Card has revolutionised money, transcending physical boundaries and checking multiple new avenues. You can find cases when the sole item we truly need is our credit card and the prospect of carrying money has changed drastically.
Who are individuals with no credit history?
Credit History is associated with everyone who has used a bank card for almost any purchase. The people with no credit history are generally students and new immigrants in a country, who have never removed loans. In the event of card applications, someone with bad credit history has a better chance to getting a bank card than a person without the credit history. You can find however avenues to obtain a bank card with no credit history.
People who wish to use for charge cards without the history can choose from a few of the options below, which could 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. These cards do not require an applicant to possess previous credit history and may be obtained if the average person meets certain criteria 상품권 현금화 Having work can make it easier to obtain the card approved and banks prefer handy out this card to those individuals who have a source of income.
Pre-qualification Test- Certain banks allow individuals with no credit history to have a pre-qualification test online. This test lets them know if they could get a card approved and the reasons why the card was denied, if it is rejected. These details may help one prepare better the next time they apply for a card.
Store Credit Card – Certain nations have the concept of store charge 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 with no credit history but with disposable income at hand can apply for prepaid cards. These cards are as effective as normal charge cards but the credit ceiling is limited by the prepaid amount. There is no fear of exceeding credit limits or late fees with these cards.
Co-signed cards – Banks offer co-signed cards for people with no credit history. These cards require someone with decent credit to co-sign for you, using their financial backing increasing your possibility of approval. Co-signed cards can be quite a smart move when you yourself have an individual 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 charge cards in most aspects, except the fact one needs to make a security deposit to be able to be entitled to a credit limit. Individuals without credit history can choose this card if they’ve suitable security deposits with them, that will essentially guarantee them the credit card.
Applying for charge cards without the history can be quite a tedious and long drawn affair but you have to remember that applying with any and all banks is not a smart thing to do. Rejection is an integral part of this technique and you have to be smart enough to choose the alternative cards mentioned above in case there is rejection. Getting these cards approved is likely good enough to obtain someone a credit history, which makes it easier to allow them to progress credit options in the future.