Credit card information free is an interesting option for those who want to get a loan approval but you have no credit score. Today A credit card is very useful for paying bills, subscribing to a TV channel, youtube red, buy online stuff, and paying your groceries could be more flexible if you have that small yet useful card. However, most credit providers will do some kind of verification steps before giving your approval.
In many cases, the credit card issuers tend to hold the approval if the applicant has no credit score. On the other hand, you need to have one active account that shows your credit report at least for recent six months. It could be hard for a first-time applicant.
Nowadays, you need to worry less about that. There are several credit card issuers that will accommodate the applicants to make their first credit card. However, there are several things you should fulfill before you ready to step in for the credit card.
Credit Card Information Free For Bad Credit And First Want A Credit Card
Have a steady job
An applicant must have a steady job with sufficient income. The income aims to repay for the credit card balance. A job with sufficient income is essential especially for those under the age of 21 years old. The source of money to pay your credit balance must be from your own pocket. You cannot put the income of your parents, spouse, and other family members to repay the credit card balance if you want to get the approval.
The income limit could be varied. It depends on the credit card issuers and your situation. But it is important to have sufficient income to repay the balance every month without any issue. You will have a better chance to get the approval from the issuer if your income is higher. A credit report can be created once you show you a responsibility about your money you have borrowed.
Pre-qualify for a credit card
There is a thing like the online pre-qualification. Some credit card issuers like Visa and MasterCard apply that rule though. The pre-qualification is normally about a soft credit check.
A Soft credit check is a checking on your credit report without having to hurt your credit score. It will not show up on your report when a person takes a look at your credit report. Meanwhile, if you get along with the credit card application, there will be a hard check process which could hurt your because it appears on your report. Your credit score could be simply decreased by that.
Get a student credit card
If credit card information free is not an applicable option for you, there is another option called as a student credit card. This is a great option for students who want to have a credit card but have a bad or no credit score since students mostly have limited income.
To be qualified for a student credit card, you must provide a proof that you are currently enrolled in a university or college that meets the qualification. But do not forget to make sure that you read all terms and conditions stated on its policy. In fact, there are some issuers of student credit cards that charge higher interest rates than the traditional ones along with too much fee.
Apply for a store credit card
A store credit card has a reputation for an easy approval. This is really suitable for you who have no credit score with limited income. People also call it a closed-loop card. This type of card does not have the brand of MasterCard and Visa. This makes the approval procedure becomes much easier even though you do not have a credit score.
However, the credit card is only valid in certain stores. According to the facts, a retail store credit card only provides low credit limit but the interest rate is pretty high. If you agree to that term, you need to keep low on the balance and make sure that you repay it according to the agreement in order to avoid the high interest rates.
Get a secured credit card
A secured credit card is suitable for you who could not get the approval from the traditional credit card issuers. You can apply for a secured credit card by you should make sure that the issuer will post the report to the major credit bureau. Other than that, the lower fee offered by a secured credit card is an interesting offer for you, who like to get the credit card information for free. It is not completely free but still affordable.
In order to get the credit limit, you will need to put a certain amount of money for the security deposit. Some of the secured credit cards come with high many kinds of fee. However, there are several of the types that offer the minimum fee to the applicants. Other than that, if your money is not enough to pay for the security deposit for now, you still have several months to save up for it. The range of credit limit starts from USD 49 up to USD 200.
Get a co-signer
If you have a family member or a friend who has a high credit score, you should ask them to be your co-signer if you can take advantage of that situation. The criteria include a high score of credit and a steady job with steady income too. Still, there are some drawbacks.
Someone is involved with your financial thing, which makes you should be more aware of your purchase. Do not forget to pay the credit card balance as stated with higher fee in the agreement. If you miss the payment or use the credit card irresponsible until it is maxed out, your co-signer gets the bad impact too.
Even though the credit checking is kind of frustrating sometimes, it is more secure than being agreed to any credit card that approves without checking your credit score first. This type of credit card charges you with the higher fee and high interest rates as well. Instead of trying to get credit card information free, you better consider the prepaid card or just a debit card.