Using one of our best credit cards for those with limited or no credit history is a great first step to building a solid credit score and earning valuable rewards. These cards make it easy to track your spending and can help to quickly raise your score – find the perfect credit card for you and get started. Currently in school? Check out these partner offers just for students.
Using one of our best credit cards for those with limited or no credit history is a great first step to building a solid credit score and earning valuable rewards. These cards make it easy to track your spending and can help to quickly raise your score – find the perfect credit card for you and get started. Currently in school? Check out these partner offers just for students.
Editor: Laura Mohammad | Writer: Mariah Ackary
December 28, 2020
Fair to Good
Credit Recommended (580-740)
hfyhpf120.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Fair to Good
Credit Recommended (580-740)
hfyhpf120.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Editorial disclosure: All reviews are prepared by hfyhpf120.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank's website for the most current information.
All information about Citi® Secured Mastercard® has been collected independently by hfyhpf120.com and has not been reviewed by the issuer.
When you are just starting out, it can be tough to land the car you want, the apartment you need and even the job you are hoping for. Why? Because so much of our society centers around having good credit. But in a few short months, you can establish credit and be on your way to financial bliss.
We researched and evaluated more than 260 credit card offers that people with a limited credit profile can apply for, using criteria such as: ability to get approved, rewards rate, fees and rates, customer service, ability to improve credit line, benefits/perks, and more. Here, we look at:
Make 2021 your year for building credit.
With the Discover it Student Cash Back, you can enjoy the rewards of the Discover it Cash Back – activate quarterly to earn 5% cash back on rotating categories up to $1,500 a quarter (it’s 1% after that).
There are a lot of advantages to this credit-starter card: For example, get no annual fee, no late fee on your first late payment (up to $40 after that) and no APR change for paying late.
While you can get 0% for 6 months as an intro APR on purchases, the best you’re going to get for intro APR on balance transfers is 10.99% for 6 months. It’s 12.99% - 21.99% Variable after that.
While high-value rewards cards might feature categories like Amazon.com and wholesale clubs, the Discover it Secured rewards for everyday categories like 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Then, it’s 1% back.
This card offers no annual fee. Also, you can enjoy 100% U.S. based customer service and get your free Credit Scorecard with your FICO® Credit Score.
There is no 0% intro APR offer on balance transfers – it’s 10.99% for 6 months, then 22.99% Variable.
This credit-builder card is top-notch – in addition no hidden fees (you’ll often see hidden fees with these kinds of cards), there’s also no annual fee.
With the Capital One Platinum, you can pay by check, online or at a local branch without paying a fee. Also, you can pick your monthly due date.
Unfortunately, this card has no sign-up bonus or ongoing rewards, making it a tough choice if you are looking for a multi-purpose card for the long haul.
With the Secured Mastercard from Capital One, you have the opportunity to raise your credit limit after your first 6 months of on-time payments and responsible use, which is a solid feature for a credit-builder card.
As a Mastercard, this product is widely accepted worldwide, making it extraordinarily convenient when traveling.
There are no sign-up bonus, no ongoing rewards, and the regular APR is a super high 26.99% (Variable), making it a poor option for carrying a balance.
The Deserve® EDU Mastercard for Students looks at more than just credit history when applying, which can be a great benefit to a student who has never had a credit card before. Plus, international students don’t need a Social Security number to apply, so any eligible student can gain access to credit.
You can earn 1% cash back on every purchase you make at any time, making this a great way to earn rewards while strengthening your credit health.
If you do carry a balance from month to month, the APR (18.74% Variable) is fairly high, so we recommend paying your balance in full and on time if at all possible.
The Discover it Student chrome has a fun feature for the ambitious student – get a $20 statement credit each school year your GPA is 3.0 or higher for up to the next 5 years.
The ongoing rewards on this card are excellent, with 2% back at gas stations and restaurants up to $1,000 a quarter on combined spending (then 1% thereafter), as well as double your rewards at the end of your first year.
The regular APR is 12.99% - 21.99% Variable, which makes it not the best choice for carrying a balance, although you can get a 0% for 6 months intro APR on purchases.
With the Citi Secured Mastercard, you can choose your due date from the beginning, middle or end of the month, which means you can line up your bill with when you get paid.
This card has an auto-pay feature, as well as the ability to sign up for alerts, making it that much easier to pay on time, every time, the most important element of building your credit.
This card has no sign-up bonus and no ongoing rewards, and the regular APR is 22.49% (Variable), although it also has no annual fee.
Not only does the Self Credit Builder Account and Credit Card combination allow you to dodge the credit history hard pull, extensive applications and high out-of-pocket deposit necessary for other secured cards, but you also develop good credit habits while building two types of credit with all 3 credit bureaus.
Establishing a credit mix with a loan and credit card boosts 10% of your credit score in a way other cards alone can’t. Plus, you’ll earn interest on your deposit once you receive it and can receive a higher credit limit depending on your deposit size.
The one-time account fee of $9 isn’t much and the APR is relatively low, but the credit card’s $25 annual fee and another potential interest payment besides your loan (if you carry a balance) could add up for new cardholders. If you need a secured card now, keep in mind you have to make the account and qualifying payments first.
The QuicksilverOne immediately delivers you 1.5% cash back for every purchase, every day, making it competitive with other cash back cards, such as the Capital One Quicksilver Cash Rewards Credit Card.
Because this card’s cash back rate is flat, there is no required quarterly signup or maximum allowed spend. Also, your cash back doesn’t expire for the life of the card.
This card doesn’t have a sign-up bonus, unlike the Quicksilver. Also, there’s an annual fee of $39, which isn’t waived the first year, and the regular APR is incredibly high at 26.99% (Variable).
When you’re just starting out with your credit, you want a little forgiveness, which this card offers. You get to pick your monthly due date, and there is no annual fee or foreign transaction fee.
Although the default ongoing rewards are 1% cash back on all purchases, the Journey Student Rewards gives you 1.25% back when you pay on time, giving you just another incentive to be responsible.
Like the QuicksilverOne, the APR is super high at 26.99% (Variable).
No need to worry if you have less-than-stellar credit or no credit history; this card provides a starting point for people looking to build credit. There’s no credit check in the application process and accepted cardholders will be given the same APR and credit limit range.
On top of $0 fraud liability, the card’s starting APR of 17.39% (variable) is a solid rate for a card designed for those with no credit
Unfortunately, the card comes with a $35 annual fee and doesn’t feature any sort of rewards structure.
With a credit limit up to $10,000, this card has a much higher ceiling than most starter cards. The card’s approval process will note your spending and income as well as your credit score, so it’s possible to qualify for a lofty limit without ever putting down a deposit.
This no annual fee option also features no foreign transaction fee, no late payment fee, no penalty APR and no returned payment fee. On top of that, cardholders earn up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
Although the regular APR starts out on the lower end, the high end of the card’s APR (12.99%-26.99% variable) could be an obstacle for anyone expecting to carry a balance.
For more credit cards tailored to college students or recent graduates with a short or no credit history, see our Discover’s Current State of Consumer Credit Health report.)
In 2021, plan to be one of the consumers who check their credit reports regularly. Ideally, check one of your 3 reports every 4 months on AnnualCreditReport.com for free. Correct any errors with the 3 major credit bureaus. Make sure there aren’t any accounts you don’t recognize. Also, pay off any outstanding debts you have, or at least come up with a payment plan.
There are a number of other tricks to improve your credit, many of which tie to credit cards. By managing your credit card and other bills, you are well on your way to building your credit this year:
If you’ve made up your mind to get your first credit card in 2021, you’ve come to the right place. However, with hundreds of credit cards in the market, it can be overwhelming to decide which card you should get first. We can help with that.
For example, you’ll need to look at which type of card you want (or can get); whether there are fees; and what rewards are offered. We’ll walk you through the different types of cards and what you should pay attention to.
“You’ll start building a positive credit history within a month of signing up for your first credit card, as long as you pay the bill on time,” says Ted Rossman, industry analyst at hfyhpf120.com. “You should also try to maintain a utilization ratio (credit used divided by credit available) below 30%. After about six months, you should be able to upgrade from a secured card or another type of starter card to a card with even better terms and more lucrative rewards.”
Unless you live on a plot of land you own free and clear in a tiny house powered by propane, your credit matters.
That’s because not only credit card issuers and lenders make decisions based on your credit. Employers, landlords, even utility companies are interested in how you handle credit.
Here are some primary ways credit can affect your world:
Turning 18 this year? Yes, you can get a credit card when you are 18, but it is complicated.
That’s because the Credit CARD Act of 2009 is designed to make sure young consumers don’t take out a financial product before they are financially or emotionally able to handle it. Unfortunately, the easiest and fastest way to build credit is with a credit card.
While it can be frustrating to have to jump through hoops to be able to start building your credit, there are some workarounds, such as becoming an ized user on someone else’s account.
If you are over 21 years old, you don’t have to have a job to apply for a credit card, provided that you have reasonable access to income, for example, that of a partner or spouse. The Consumer Financial Protection Bureau amended the CARD Act of 2009 in 2013 to allow at-数字货币交易软件_数字货币手机app下载home parents the ability to get a credit card without a job.
While when you’re brand new to credit, you can expect to start out with a credit limit of only about $200, you’ll find as you go that your credit limit is not necessarily higher because you have a higher score. Other factors such as your income are also considered.
For example, the average FICO Score for Washington, D.C., is only 703, while it has the second-highest average credit limit of $37,845 among U.S. states, according to Experian. Compare that to Hawaii, with an average credit score of 723, while the average credit limit is more than $4,000 less at $33,254.
That’s not to say you are stuck with a $200 credit limit forever. As your score rises, your risk for borrowing will improve and lenders will take notice. In fact, the Secured Mastercard from Capital One may reward you with a credit limit increase after your first 6 months of on-time payments and an additional deposit isn’t required.
Also, if your score is steadily improving, simply ask for a limit increase. We’ve found that 85% of Liquid assets – cash or other owned items that can instantly be converted to cash
When a bank tells you that you have an insufficient credit history, it means that there is likely not a credit report on which to base a credit score.
So, you need credit reports, which are the documents where your credit history is collected from financial institutions and creditors. Then, you need a credit score for potential lenders to assess whether you are a good credit risk.
It takes at least 6 months of activity for a credit score to be assigned, so the sooner you get started the better. In addition to getting a credit card that doesn’t require credit, you can also apply for a credit-builder loan at your local bank or credit union.
hfyhpf120.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which hfyhpf120.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. hfyhpf120.com does not include the entire universe of available financial or credit offers.
CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
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