Apply for a No Credit Credit Card

Credit card issuers are offering more options to a growing market of customers with no credit rating who have available funds and want to build their credit history. These may include students, recent immigrants, or young individuals with low incomes.

Cards offered to those with no credit tend are sometimes secured, which means that customers must provide funds in advance. Many secured credit cards or stored value cards charge a range of fees including activation, annual, and monthly maintenance fees. Interest rates can be high and credit limits, if available, are often modest; although they can increase if the cardholder retains a consistently good payment record.

Many secured or stored value cards offer a reporting service to the major credit bureaus. An additional fee is often associated with this service, but it can be an effective way of building the cardholder's credit rating.