People with no credit history often have difficulties qualifying for a regular credit card. That is because there is no way for the creditor to determine whether they can pay on back on time. However, you should no be disappointed because you can still apply for a secured credit card. There are also a few unsecured cards that would approve people with no credit history. The following are the 4 easiest credit cards to sign up if you have no credit history.
1. Capital One Platinum Credit Card
Capital One Platinum Credit Card is an unsecured credit card with a high APR starting from 19.99% – 26.99%. If you are on time in making payment for 5 months, you can enjoy a higher credit line. CreditWise allows you to monitor your credit score from your account. The due date is around 25 days at the end of a billing cycle. The card features a $0 fraud coverage, extended warranty, auto rental insurance, price protection and 24 hr travel assistance. The annual fee is $0. It has other types of fees like cash advance (3%) and late fee ($38).
2. Capital One Secured Mastercard
Capital One Secured Mastercard is a secured card that can build credits score and reports to three credit bureaus. The variable APR for Capital One Secured Mastercard starts from 24.99%. You must put a security deposit, which is equivalent to the credit line. There are 3 options for the security deposit including $49, $99 and $200. The credit limit will raise when you are on time in making repayment for 5 consecutive months. It features 24/7 online banking. It has no annual fee but it has late fee ($38) and cash advance fee ($3%).
3. OpenSky Secured Credit Visa Card
OpenSky Secured Credit Visa Card is a card that can be applied without any credit check. The refundable security deposit starts from as low as $200. Most people who apply for this card starts with no credit history and they start seeing increment on the credit score within 6 months. The regular purchase APR starts from 18.64%. It has a few fees including annual fee ($35), late fee ($27), cash advance fee and foreign transaction fee (3%).
4. Citi Secured Mastercard
Citi Secured Mastercard is an secured credit card that can be used to build credit score. It requires you to put a security deposit from $200 – $2,500. The security deposit will be put in a Collateral Holding Account. It offers auto pay and online bill pay to assist you to stay on track on making repayment. The regular variable purchase APR is 23.99%. The card has no annual fee.