Banks and financial institutions have some options for people who are going to take out their card for the first time, or who do not have enough money or credit history to process their plastic. Secured, departmental and basic cards or for young people are credit card options for people with lower income and track records than those requested by the bank to purchase a credit card.
Get an instant approval credit card for bad credit
If you want a credit card for bad credit, you may get it right away at green-touch.
To compare options and apply to any, you can do so directly at banks or financial institutions; or through our free comparator. There, select the credit card option and start filling out the form that appears. It is very important that you are the most honest when it comes to giving your data, our intention will always be to give you the best results to always offer you a good product.
What is credit history?
The credit history is a record of your credits, loans or services that you have over time. The purpose of having this record is to have a backup of your behavior and credit activity count. Within the credit history can be different activities such as mobile phone service (when you have a contract and pay constantly and periodically), if you have an auto credit, credit or departmental card or a personal loan.
Month after month a new record of your payment is made. They are recorded from arrears to unliquidated debts. This is why it is important that you take care of your payments and do them in a timely manner because this is where most of the credit institutions are located to know if they can trust you to pay your loans with them.
What are the credit cards with no credit history?
Among the options that exist to acquire a credit card with income under $ 8,000 and without a credit history are:
- Secured credit card. These cards are backed by an amount of money that is deposited in the bank, in order to be the guarantee of payment. In general, the credit limit is equal to the amount of the guarantee.
- Departmental card. These cards are approved instantly and can be used in the store where requested, although you can also play with it in various establishments. They are a good option to start with a credit history and generate a payment behavior.
- Basic or youth credit card. These plastics are the most basic that banks offer and generally grant a lower credit limit, as well as various benefits such as lower interest rates and lower fees.
Recommendations for requesting a credit card with no credit history
- Fill out the application correctly. Complete each requested field with the corresponding and true information, otherwise, your request will be rejected.
- Apply to the ideal credit card for you. Compare at least 3 plastic options that best suit your needs and choose the one that gives you the best benefits. If you apply to a credit card that establishes more requirements than you can meet, it will be denied and you will have to wait 45 to 90 days to re-apply for a card.
- Find a way to check your liquidity. The ideal is to have the payroll receipts as proof of income or have the record of recent payments, for example, proof of income, telephone plan or deposits to your savings or debit account.
If I am in the credit bureau can I get a card?
Each bank has a different process to approve credit cards so there is no absolute manual that can tell you what and what does not allow you to have a credit card.
What there is, are some general aspects such as your status in the credit bureau, monthly income, official documentation and, in some cases, being a cardholder of the bank in which you require the credit card.
How much money can a card with no credit history give me?
The money that a card can have as a limit will depend on the type of card you choose and the ability to pay you to have. A very important known requirement is the monthly income you have. With this amount the bank can deduct if you have the possibility of paying a debt.
Remember that the total monthly amount you earn is not taken as your ability to pay, you have other expenses in the month and it is very important to take them into account when requesting a card.
Each card has a minimum income that you must meet in order to apply to it. In our comparator, you can see what the amount of each one is.
What is the Credit Bureau?
The Credit Bureau is a private company that is responsible for recording your credit history. This company and specifically its report is usually the basis of several institutions that grant loans or loans. They do this through a register that lets banks and financial institutions know if you were late, stopped paying, with whom the debt is and how long ago you have it.
Is it bad to be in the credit bureau?
It depends. Remember that the credit bureau is a platform that records your payment activity with loans, credit cards, and services. If you have contracted a mobile phone service, your monthly payments will be shown in the register and therefore, literally, you are in the credit bureau.
Being in the credit bureau is “bad” when your payment activity is bad, that is, you pay untimely or have unpaid debts. In these cases being in a credit bureau represents something bad if we process a credit card and conversely, if you pay in time and form all your credits, loans or services then it can be something beneficial because the bank will have in you a greater Trust to give you a credit limit and even extend it.
Why apply for my credit card with no credit history at Devine?
Devine is the best place to compare options and apply for a credit card. The best thing is that once you review all the options and decide to apply to one, you do not have to move from the place since you can apply from the comfort of your home.
Our telephone consultants are trained to guide you before, during and after your comparison, selection and application process to your idea card. You have our contact number at the top of the page as well as the hours and days on which we will be available to you.
Why is it important to generate credit history and even more, that it be of good activity?
Maintaining a good profile in your credit history is a good practice. Most banks or credit institutions take this as one of their bases to check your ability and ability to settle a debt so that if you pay in a timely manner the debts you have you will get the banks to give you credit and the lenders will lend.
Without a doubt, having a good credit history is an obligation but it is very useful when applying for a loan. Conversely, if your payments have been untimely and incorrectly may reflect a lack of interest and lack of seriousness with banks.
What benefits do I have when applying for a credit card with no credit history?
The benefits that can give you a credit card are many and all will depend on the type of card you choose and especially the purpose you give.
- Students. Banks understand very well that young people prefer experiences more than material things and that is why credit cards for students mix many benefits so you do not miss anything. Among what this type of cards can give you are the discounts in concerts and art events, exclusive pre-sales, promotions, and discounts in electronic stores and the accumulation of points for each purchase you make. And with this, we turn to one of the best benefits, the points. This is about accruing for each purchase you make, for example, if you have a card that gives you 3% of each purchase points and buys a hearing aid of one thousand five hundred pesos, that means you will have 45 points that you can use to buy other things later.
- Just for having a credit card: If what you want is to have a credit card without any special purpose, you can still do it. It does not matter if you only want it for your recurring expenses. The benefits for these cards are to obtain some discounts and accumulation of points for habitual purchases.
Another reason you can have a credit card is to start generating credit history.
The most important thing is to know that a credit card does not mean having to spend more but spending on what you used to do.
Are there credit cards in which it is not necessary to have a good credit history?
It is very unlikely that a bank can give a credit card without having a good credit history. Remember that the main function of this registry is precisely to inform the banks or credit institutions of your behavior in the payments of your past debts. Would you lend to someone you know is bad paying debts? It is the same with the banks, they have to ensure to the best extent that you will return the credit they give you.
If they offer you a credit card or a loan without consulting the credit history, investigate that it is a serious institution and registered with the authorities to be able to give credits. There are many cases in which similarly, they offer very high loans with incredibly void guarantees that first impression may represent a good option but always remember to investigate before.
How can I have a credit card if I have a bad actor in the credit bureau?
In order to apply for a credit card with a bad credit history, it is important that you pay off your debts first. If it is not in your possibilities to pay everything you can go with the bank or institution that activates the credit and reach a payment agreement, even if it is the case that you are forgiven (take away) the interest that was generated during the time, not You paid and reach a flexible payment agreement.
If you can not pay your debt unfortunately very hard you can request another type of credit.
If you need money urgently there is the option to pawn your assets. You can do it in pawnshops and it’s about leaving an object of value as collateral in exchange for a loan in cash. In general, pawnshops charge a monthly or weekly interest in the linked to the time you leave your clothes or objects as collateral. Monthly or weekly you have to go to “endorse” your loan because if you do not do it, the pawnshop can sell your item as a measure to recover the money that was not paid.