How to get approved for a credit card with no credit history

0
88
How to get approved for a credit card with no credit history

In order to have various financial products, it is necessary to meet a series of requirements, which will serve as supports in the entity or bank. These will also allow you to approve a credit card; however, it is difficult to achieve this without having a credit history to support you.

If you want to know what the requirements are to obtain a credit card, you should first know that these types of products have different types or methods of payment; Furthermore, in many cases it is aimed at a segment of the population, such as young people.

It is relevant to mention that the credit history is that record that you have where you can observe or view your financial record; that is, it includes or reflects credit payments made according to the agreement with the bank.

How to have a credit card without credit history?

Although the credit history is the main requirement for the approval of a credit card, it is possible to acquire it with a different method than the traditional ones; however, keep in mind that paying correctly for your phone or TV service can help you get a good financial record.

verifying requirements to approve credit card

If you have doubts, there are sites where you can check your credit history online easily and safely. It also allows you to see what conditions they are in or what aspects it includes.

Student credit cards

This type of financial instrument is easy to approve, in addition to being an excellent tool to start your credit history; in principle it is aimed at young university students who are over 18 years old, they also have characteristics that differentiate them from traditional ones.

Among the differences is that they have a low credit limit, which can range from 1,000 to 9,000 Euros; Likewise, the interest rate is lower, since it is intended for students, it is possible that they do not have a fixed income and for the bank those under 21 years of age the plastic will be free.

prepaid cards

To acquire this financial instrument you will only have to meet two requirements, the first will be to live in Spain and the second to be of legal age; being in part the same requirements that you need to obtain a traditional credit card.

In this sense, they can be physical or digital and are called prepaid, because you must recharge them before they are used; On the other hand, they are not associated with your bank account, they are safe and they are also a financial instrument that does not require approval, which is why it is an excellent option if you do not have a credit history.

Store or non-bank card

These types of cards are very useful and practical to obtain if you are a frequent customer of a department store, franchise or department store, and it is possible that they offer it themselves; Basically you will have a financial product where you can buy and pay in installments.

credit card approval

While it is true, they may ask you for credit history information in order to evaluate your records; however, being a frequent customer, one option will be that they grant you a credit card with a low limit, which can be increased as you pay correctly.

It is relevant to mention that having a non-bank card has many advantages; and not only for the fact of being able to make a credit history. You can also acquire your goods or products with a low interest rate, which implies significant savings in your monthly expenses.

Credit history and how to create it

It is essential that you start building your credit history no matter how young you are or whether you are coming to the country as an immigrant; For this reason, you can start by contracting a telephone line service that you must pay on time; avoiding it being cut, since the main intention is to show that you are a responsible and stable person.

Finally, remember that if you have a credit card, even if it has a low limit, you must pay as established by the bank; because this will be essential to create your credit bureau and even manage to modify it, so that you can request financing of any kind.

Previous articleHow to verify or find out my social security number online
Next articleHow to Troubleshoot a Credit Card Terminal If It’s Not Working

LEAVE A REPLY

Please enter your comment!
Please enter your name here