Construction loan with credit card it can sometimes feel like Catch-22. You need good credit to get credit card approval, but you need a credit card to build good credit. Secured credit cards provide one solution, but require users to pay deposits.
Other companies use different approaches to offer credit cards to consumers without credit. Some will use information from your bank accounts and average income to approve credit cards. Others provide special cards for students who do not need any existing credit rating.
Find our best credit card partner offers below that do not require a credit score. For related offers, be sure to check out the offers from our best partners those with poor creditworthiness.
The best card for those without credit
Introductory offerN / A
APR13.24% -27.24% (Variable)
Introductory purchase APRN / A
Recommended credit Limited / Fair / Good / Excellent
- Up to 1.5% cash back on eligible purchases after 12 timely monthly payments.
- 1% cash refund on eligible purchases immediately.
Annual fee$ 0
Fees for foreign transactions $ 0
- Up to 1.5% cash back on eligible purchases after 12 timely monthly payments.
- 1% cash refund on eligible purchases immediately.
Our Take
Petal 2 Visa card, issued by WebBank, a member of FDIC, stands out as one of the best cards to start establishing credit. It’s our best choice because it comes with no annual fees, no late fees, no fees for foreign transactions and no refunded payment fees – perfect for someone who manages the reins of credit management first. Your credit score, if you have one, and the Petal’s Cash Score, which analyzes how you spend your money, can be used when evaluating your application. If you do not have a loan, it means that you will have to provide some financial details.
Your credit limit will be between $ 300 and $ 10,000, based on creditworthiness. You also have the opportunity to earn 2% to 10% cash back from selected merchants, and your 1% cash back rate on eligible purchases will increase to 1.5% after 12 months of on-time payment. There is also no need to worry about the deposit.
Introductory offerIntroductory offer: Unlimited Cashback Match – only from Discover. Discover will automatically refund all refunds you earn at the end of the first year! So you can convert $ 50 in cash back into $ 100. Or turn $ 100 into $ 200. There is no minimum spending or maximum reward. Just a dollar for a dollar sword.
APR13.24% – 22.24% Variable
Introductory purchase APR0% for 6 months
Recommended credit Fair / New in lending
- Earn 2% Cash Back At Gas Stations And Restaurants At Up To $ 1,000 In Combined Purchases Each Quarter.
- Earn 1% unlimited cash refunds on all other purchases – automatically.
Annual fee$ 0
Introduction Transfer Balance APR10.99% for 6 months
APR status transfer13.24% – 22.24% Variable
Balance transfer fee 3% fee for introductory balance transfer, up to 5% fee for future balance transfers (see conditions) *
Late payment fee Not the first time you’re late. After that, up to $ 41.
Fees for foreign transactions No
- Earn 2% Cash Back At Gas Stations And Restaurants At Up To $ 1,000 In Combined Purchases Each Quarter.
- Earn 1% unlimited cash refunds on all other purchases – automatically.
Our Take
Discover it® Student chrome * offers a winning combination of cash backs and other reward options, as well as mild terms for first-time credit card users. You will not be charged by the credit card company for your first late payment (up to $ 40 thereafter) nor will you have to deal with an excessive APR penalty. In addition, you can earn 1% to 2% each month in rewards (2% cash back at gas stations and restaurants at up to $ 1,000 in combined quarterly purchases, then 1%) on this Discover credit card. Discover offers another similar student credit card, Discover it® Student Cash Back *, but rotating bonus bonus categories can make things too complicated, especially for first-time cardholders.
For our full Discover it® Student chrome review, check out our coverage of the best student credit cards.
Good for international students
Introductory offerN / A
APR19.49% Variable
Introductory purchase APRN / A
Recommended credit Limited / no credit
- Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard
Annual fee$ 0
- Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard
Our Take
Deserve® EDU Mastercard for students is positioned as an alternative to traditional banks and credit card issuers, and specializes in credit cards for students and first-timers.
The Deserve EDU student credit card checks most important boxes: it offers a 1% refund on all spending, has a relatively low late payment fee and comes with a fixed 19.49% APR (which will vary depending on the main price). Although it offers a lower rate of student rewards than other cards, its relaxed eligibility requirements are well suited for students with a short or non-existent credit history or other potentially disqualifying constraint – for example, not having a Social Security number if you are an international student.
For our full review of the Deserve® EDU Mastercard for students, see our list of the best student credit cards.
A good secured card for those without credit
Introductory offerN / A
APR26.99% (Variable)
Intro Purchase APRN / A
Recommended credit Limited, bad
Reward ratesN / A
Annual fee$ 0
Introduction Transfer Balance APRN / A
APR status transfer26.99% (Variable)
Balance transfer fee $ 0 in this Transfer APR
Late payment fee Up to $ 40
Fees for foreign transactions No
Penalty APR No
Our Take
Secured credit cards work differently than other credit cards. They require a security deposit in advance to open your account, on which your “credit limit” is often based. It is an arrangement that is especially useful as a loan building account for someone who needs to show that he can reliably pay the bill every month.
The Capital One Platinum Secured Credit Card gives you a $ 200 credit when you pay $ 49, $ 99, or $ 200, depending on your credit history – making it one of the few secured cards that offers real credit. (Your special conditions depend on your specific application.) And this secured card marks all fields: $ 0 annual fee, a modest minimum security deposit of $ 49 – and the ability to return your security deposit as a credit card when you use your card responsibly. like paying on time. Also nice: Capital One will see if you’ve been granted a soft credit check in advance, providing risk-free insight into eligibility before you file a formal application with a credit card company.
See our full review of Capital One Platinum Secured Credit Cards for more details.
FAQs
What are my best options for creating a loan if I don’t have a credit score or history?
The best option is to apply for a card that offers “alternative approval criteria”. Alternative criteria include things like current account and savings account history as a sign of regular income and proof of paying bills on time. This time is easiest if you already have a relationship with the bank, so start with the bank where you have a current account.
Another option is “co-signing” for a credit card. Joint signing allows two people to be on one credit card account, and both people are on the hook in terms of credit reputation. It is up to both parties to ensure that payments are made on time and that the funds are repaid, otherwise both could be subject to credit. The advantage is that both parties can also improve their credit score.
It is also possible to be added as an authorized user to the account of another established credit user, but you will have fewer options than if you countersigned.
If you do not have strong alternative approval criteria or a friend who is willing to co-sign or add you as an authorized user, consider a student card or secured credit card.
What should I do if I do not have a current account?
In most cases, you will need a checking account and proof of regular income to be eligible for a credit card. If you don’t have one, check out our article on the best current accounts to find the account that best suits your needs.
What is the fastest way to create a loan?
While most of the loan building process takes time, there are a few things you can do to make sure you improve your credit score as soon as possible.
- First, pay all your bills on time. This will increase the calculation of timely payments in your credit score.
- Second, work to keep your credit usage as low as possible. Do this by repaying the full amount at least once a month, and if you can twice a month. It will also help you have a higher credit limit, so look for cards that occasionally offer a credit increase – or call your bank every five to six months if not, and ask for a credit limit increase.
- Finally, don’t open too many new credit accounts at once, even if you’re trying to improve your credit combination. Lenders can get nervous if you have recently applied for multiple credit accounts, as this shows that you could be a riskier borrower.
Our methodology
CNET reviews credit cards by comparing them exhaustively through the set criteria developed for each major category, including refunds, welcome bonuses, travel rewards and balance transfers. We take into account the typical behavior when consuming a number of consumer profiles – with the understanding that everyone’s financial situation is different – and the indicated function of the card.
For cash-back credit cards, for example, key factors include the annual fee, the “welcome bonus,” and the cash-back rate (or rates, if different by spending category). For cards with rewards and miles, we calculate and weigh the net monetary value of the corresponding card benefits. And with credit cards for balance transfers, we analyze specifications such as the length of the introductory period of 0% APR and balance transfer fees, taking into account secondary factors such as standard APR and the length of time you have to transfer balance after you open account.
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* CNET has independently collected all information about Discover it Student Chrome and Discover it Student Cash Back and has not been reviewed by the publisher.
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