Using a credit card is a great way to build credit. But before giving you a credit card, banks and other lenders will perform a credit check to make sure you have a good credit history.
So, you may be asking yourself: How do I get a credit card if I have no credit history?
A secured credit card is considered the best credit card for no credit history applicants. Some secured cards will be connected to a savings account. Your secured credit card limit will be the same as the amount in the savings account. This helps ensure you can make the monthly payment.
For other secured cards, you may have to give a deposit. Your card’s credit limit will be equal to the deposit amount.
Secured card pre-approval is often quick and easy. When looking for a card, you should look for secured cards that graduate. This means that the card will become unsecured (turn into a regular credit card) once you have built a positive credit history.