Credit

Apr 25 2017

Best Credit Cards for People with No Credit History #the #best #credit #cards



#credit cards for people with no credit history
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Best Credit Cards for People with No Credit History

These days’ people with no credit history are treated almost as poorly as people who have proven to be irresponsible with credit! Not having a credit history puts you at a competitive disadvantage when looking for a credit card, you simply will not be able to land the “elite” credit cards that garner the best reviews, the lowest APR’s and fees and the best reward programs. However a credit card does not need to be “elite” in my mind, it just has to get the job done. Here are five of the best credit cards for people with no credit history:

1. Capital One Cash Rewards for Newcomers. This is a card that is specifically designed to help cardholders establish a credit history. APR is variable but will never be higher than 24.9%, this shows you how important it is to pay off as much of your purchases as you can during the grace period when you do not have to pay interest on your purchases. There is no annual fee and you will earn anywhere between 1-2% cash back on all of your purchases! This card reports to all three major credit bureaus every month so if you make responsible purchasing decisions and you are good about paying off your balance each and every month your credit score will reflect your good behavior!

2. Journey Student Rewards Card. This is a great credit card for those of you who are students with no credit history. Credit card companies love to get college students as customers because like tobacco companies they can get these students as customers for life, which means they will be cardholders for decades instead of years. If you are a student this is one of the top cards you can find if you are looking to build up your credit score for when you graduate. APR is variable but it will not go over 19.8% and there is no annual fee. You get 1% cash back on all of your purchases, if you pay your bill on time each month your cash back rate will rise to 1.25%!

3. Orchard Bank Classic Mastercard. This is a card geared towards people with poor credit, but they also accept people with no credit history. This card reports to all three credit bureaus each month which means it is great for helping people build their credit history. Your annual fee and APR is variable but they will never top 59 dollars a year and 22% respectively. This card has gotten rave reviews from almost everyone in the industry, it does not have a ton of features or a great rewards program but it is solid from top to bottom, if you are looking for a credit card that just gets the job done this is it.

4. Discover Student Card. This is another great card if you are a student with no credit history. This card is labeled by most credit card reviewers as the best student cash back credit card. You can get up to 5% cash back for a myriad of purchases from gas to online purchases to airline and hotel purchases. The APR is reasonable and there is no annual fee! If you are a student this is one of the best cards you can get your hands on, you should definitely check it out!

5. Open Sky Secured Visa Card. The last credit card to make the list is a mouthful, The Public Savings Bank Open Sky Secured Visa Card! This card is excellent if you have no credit history. It is a secured credit card versus the first four credit cards which were all unsecured. There is no annual fee but there is a hefty 75 dollar application fee which is a real buzzkill. However, if you are looking for a secured credit card this should be one of your top choices.



Written by CREDIT