unsecured credit card | Can I get a credit card with no credit history?

Can I get a credit card with no credit history?




Tags: credit history, credit card
Can I get a credit card with no credit history?

If you are thinking about obtaining a credit card, the ideal is to have a positive credit history; that is to say that you have not breached any previous payment of some other credit that you have obtained in your life, for example, the payment of a telephone plan or some other debt.

Now that, if you have not been granted a line of credit, even if you have a good track record, then it is very likely that it is due to your level of income or that you have another approved card, since no credit is granted if you already have another which commits around 30% of your income.

If you do not have a credit history, quote and process a low requirements card

But if you do not have a credit history yet, or this is not in your favor, you can choose to obtain a credit card with one of the following options.

Option 1: Secured credit card
Banks usually offer this type of option to customers who do not have any banking or credit history. What does it mean to have a guaranteed credit card? This is the name of the credit cards that are backed by money that you deposit in the bank as collateral. This amount is generally equal to the line of credit you have, although in some cases it may be a little more. This dynamic may change over time to access more credit, as long as you meet a certain agreed period and demonstrate good behavior in your payments. The bank will reimburse you the money you left as "guarantee" and then yes, you can apply to obtain an unsecured credit card.

Also: Does canceling credit cards affect your credit history?

Option 2: Departmental credit card
On the other hand, there are exclusive credit cards of department stores, which have instant approval systems, but are only used to make purchases on credit at the store where they are issued. If you want to acquire a departmental card, we recommend checking the rates, since in some cases they are the most expensive in the market.

Lee: What is the best departmental credit card in Mexico?

If you choose to acquire a card of this type we suggest you use it for at least 6 months, since it will "train" your payment habits, you can test your benefits and at the end of that time, you will have already begun to trace a credit history to apply to a different card. Also, if you find out that you could not easily pay off your credit, it is best to settle your debt as soon as possible.

Remember that only with financial discipline can you improve your credit history, the commitment is with yourself.

Lee: What score do you need in the credit bureau to have a credit card?

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Option 3: Classic or basic credit cards for young people
There are also bank cards that have been designed for beginners, especially young people. The amount of credit is small, but they help to start a credit history and just for that reason they should be used with more responsibility; since the objective is to generate a GOOD history to have the possibility of requesting another more attractive credit, that allows to specify more ambitious projects (study abroad, buy your first car, finance a venture, among others).

Whichever option you choose to start your credit history requires that you become responsible for the court dates and amounts to be paid. If you are organized to keep up with your payments, these cards will help you train in the financial culture of credit, savings and additional benefits.

Once you start managing a credit, whether with a secured card, student or departmental, you can check your credit history online, on the credit bureau page.