Following the obsession about credit reports and credit scores, a new applicant for a credit card may be tempted to ask what happens when you need a credit card and you have absolutely no credit report leave alone scores. The over reliance on credit scores by financial institutions may be perceived to mean that any body without a credit score is automatically ineligible for credit. It is important to note that all is not lost in the efforts to get a credit card even if you do not have a credit score. There are however few tips that you need to know if you are to succeed in your quest.
How can I get a credit card without any credit card history?
For starters, the credit scores are usually derived form some statistics, it is therefore important to note that in the absence of a credit score, these statistics can still be used to gauge your credit worthiness. The simple truth is that even in the presence of a credit score, these same statistics will still play a major role in determining your credit score or even the terms and conditions applicable to your credit card. Among some of the most prominent sources of information that can helping the process of applying for a credit card without any history are your landlord and the payment records of the rent. Other bills that you have registered in your name for example, electricity and gas bills will also go along way in helping any potential credit card service provider to gauge whether or not you are eligible for credit.
By keeping a consistent record of timely payment of all your bills, you will be giving the credit card service providers very little options other than to give you the credit card. Besides the above information, your employment record and income also play a significant role towards getting your credit card. A steady employment history is a good indicator that you are a consistent person. If this is coupled with a good income then your chances are even improved. The other important factor that can enhance your chances of getting a credit card without any credit card history is your residence. If you own the home, the stakes are raised if you have inhabited the home for a long time and your rent payment indicates consistency, then your chances are also enhanced. With most of these factors in order, getting a credit card should not be a major problem even if you do not have a credit card history.