How do you get a credit card when you have no credit?

credit card
Patrick G. asked:


I am trying to get my first credit card and I don’t have any credit history. I’ve tried to apply to Discover but they said they only accept people with credit history. Mastercard, Visa, also wont accept my application how do I get a credit card with no annual fee.

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2 Responses to How do you get a credit card when you have no credit?

  1. bdancer222
    January 13, 2010 at 2:42 pm

    You may have to go with a secured card — you pay a deposit which is held as collateral against the line of credit. Use the card and pay the balance in full every month. In about a year, you should be able to convert it to a regular account.

    If you are under 21, you will have to provide proof of sufficient income to qualify for a credit card or have a parent co-sign.

  2. scatterbrainedgenius
    January 14, 2010 at 10:14 pm

    The credit system is designed against people who have no beginning credit. Aside from getting a small car loan and using a cosigner or going to a bank with a cosigner and asking to get a Certificate of Deposit or for a small money loan or a student loan there is no way to establish credit.

    All of these in fact are rigged so that you can in a matter of years earn credit enough for a credit card but at enormous financial cost both to you and whoever is your cosigner.

    The fact is credit cards charge 8%-25% annually for services and frankly the credit market is ridiculous.
    In reality if you can’t pay cash for something you do not need it honestly.

    So, start a savings account either in a bank or on your own, and as a course save the money you will need to make a car purchase or put a down payment on a home. Then when you go to apply for a car at the dealer you can lay out 75% of the cost on the card immediately and then they may accept the rest on credit.

    I personally dislike credit and feel it is pointless, I went into huge debt with credit and getting out of debt is more expensive than getting into debt with credit do remember that won’t you?

    If you absolutely have to have a credit card for purchases and do not want to get involved in a costly task of actually building credit or worrying about such go to your local Wal-Mart and see about the Green Dot or Wal-Mart Money card I think it is called whichever. A prepaid card and you spend $3 a month after an initial $8 fee and a load of course you must put the amount need to spend on the card however and it is valued at just about every retailer.

    I use it and my employee credit pay card as well so I do not need credit. Didn’t you know in the near future all credit cards will be eliminated anyway?

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