Can I get a Visa or Mastercard credit card if I have no credit?
I am a student and want a credit card for emergencies.
I am a student and want a credit card for emergencies.
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There are a few ways. You can get a prepaid Visa or Mastercard. You can also get a Direct Deposit Visa or Mastercard.
One great way to improve your FICO score is to get a secured VISA or MasterCard. A secured credit card is one in which you open up a savings account with the card issuing bank. This savings account is used as a security deposit for your credit card. Your credit limit is based on the amount that you deposit into the savings account.
Once you have established a good record of payments on the credit card, the savings account funds are returned to you. Only use this secured credit card for gas or a few small purchases each month. When you get your bill, pay it immediately but overpay it by about $10 - $15. That way you always have a negative balance. The FICO system accelerates your credit rating quickly by doing this. Just make sure that you NEVER are late on making that payment.
This method worked very well for me when I had very bad credit. After receiving my secured credit card, it took about 8 months before I was receiving pre-approved non secured VISA and MasterCard offers from large banks.
More information about this method and other ways to improve your credit ratings can be found on the following website:
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Sometimes you can get a student visa for a small amount of money from a company like Contiki or some other college credit card. If not you can get a secured credit card to start some credit in your name. All you do is give them some money in advance to put in an account for you and that secures that you will pay them your bill. Over time you can build credit if you’re responsible with your payments, don’t ever be late and try to keep no balance on the card at all times.
Ofcourse you can. I did some research and found this site for you that has some very good cards listed for college students as well as for people with no credit history. Don’t apply for cards in any other category because you’ll most likely get rejected and it’ll hurt your credit score. Remember to always pay it in full every month. Thats the best way to increase your score. good luck!
Even though you don’t have any credit, I’d suggest that you check out the Prepaid MasterCard found here: With these cards, almost every one who applies is approved. You can conveniently apply online. There are no credit checks or security deposits required when applying for this card.
If you’re looking for credit cards to help build your credit, you may opt to apply for the Prepaid Visa Debit Card or the Eufora Elite Credit Builder Prepaid MasterCard that you can find here: Other than choosing wisely when selecting a credit card that best suits your needs, its also important to always pay all of your monthly bills (phone, electricity, rent, etc.) on time. Late fees not only put a dent in your budget but if several are incurred; the fees can hurt your credit score. Hope that helps!