7 Smart Credit Cards to obtain this year If you have no Credit

7 Smart Credit Cards to obtain this year If you have no Credit

It’s difficult to obtain approval for a Credit Card especially when you’ve got no credit. You’re required to have a good credit history before submitting an application for a credit card. there a good number of credit cards that allow you to start building your credit even without a previous credit history they include:

Best Cash Back Rewards: Capital One QuicksilverOne

QuicksilverOne from Capital One pays an unlimited amount of 1.5% cash rewards for all purchases. Paid rewards mean you do not have to be up to date with any category or sign up to maximize your rewards. A QuickSilverOne credit card pays a fixed balance of 1.5% for all purchases. You can start with a low credit limit; Capital One will consider increasing the credit limit if you make your first five monthly payments on time. This card comes with several additional MasterCard benefits, including the extended warranty for the items purchased with card such as car rental insurance and travel insurance.

But you will make an expense of at least $ 2,600 on purchases just to waive the annual fee of $39. The APR rate is quite high on this credit card, so you pay your balance in full every month to avoid expensive interest rates and avoid the denial of reward.

Minimum credit required: Average

Annual fee: $39

ARA in progress: 26.96% variable

Amount of the cash advance: $ 10 or 3% of the amount of the cash advance

Registration Bonus: None offered

7 Smart Credit Cards to obtain this year If you have no Credit

7 Smart Credit Cards to obtain this year If you have no Credit

Best No Annual Fee: Capital One Platinum

The Capital One Platinum is known for approving consumers who are relatively new on credit. Their website has lot of applications submitted by different applicants who were approved even without a credit history. Just make ensure they have an income before applying. If you make your first five monthly payments on time you will be considered for a credit limit increase.  Platinum has a high APR, which means you have to make quick monthly payments to avoid paying expensive interest on your credit card balance.

Minimum Credit Required: Average

Annual Fee: None

Ongoing APR: 26.96%

Balance Transfer Fee: None

Cash Advance Fee: $10 or 3% of the cash advance amount

Signup Bonus: None offered

View details about this ​credit card.

Best for no credit check: OpenSky secured visa | 7 Smart Credit Cards to obtain this year If you have no Credit

The OpenSky Secured Visa does not reject credit card application meaning one can be approved with any type of credit. Pay the security deposit between $200 to $3,000 with a Visa or MasterCard debit card. Your credit limit can be increased the moment your account is opened but that’s on your request. When approved, OpenSky will allow you to make an additional deposit for the credit limit increase. With quick payments, you will build a good credit history.

Unlike most other secured credit cards, your card won’t be changed to an unsecured credit card. The deposit you made will be returned to you within four to six weeks of closing your account.

Annual Fee: $35

Ongoing APR: 19.64%

Balance Transfer Fee: N/A

Cash Advance Fee: $6 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: 3% of the purchase amount

Signup bonus: None offered

 Best Cash Back Secured: Discover Secured Credit Card

Discover it Secured is the only secured credit card that allows cardholders to earn rewards on every purchase. With the card, you can earn 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter, plus 1% cash back on all other credit card purchases. You will be matched of all the cash back you’ve earned at the end of the first year. Your rewards are actually redeemable at any time for any amount and automatically at Amazon.com. Once your account is established you’ll have free access to your FICO score on your monthly statements; Discover monitors your Social Security number and alerts you of fraudulent activities.

This card offers a low balance transfer rate, but you can only take advantage of the offer if your credit limit is high enough.

Minimum Credit Required: Any

Annual Fee: $0

Intro APR: 10.99% for six months from the transfer date

Ongoing APR: 25.24% variable

Balance Transfer Fee: 3% of the transfer amount that posts to your account, 5% of the transfer amount after that.

Cash Advance Fee: $10 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

 Best Cash Rewards for Students: Discover it Student Cash Back

The Discover it Student Cash Back credit card pays 5% cash back on purchases made every quarter and 1% back on all other purchases. There is a 5% bonus cash back. Use your cards to make purchases and maintain a good credit history and at the end of your first year, Discover will match all the cash back you’ve earned. Earn $20 cash back bonus each school year for the next five years if you keep your GPA at a 3.0 or higher. This is a good option for those with no credit

This card does not permit or accept someone to sign a card for you or better still called a co-signer, so if you’re under age 21 and not independent of your family income, you may not qualify.

Minimum Credit Required: Average

Annual Fee: $0

Intro APR: 0% on purchases for six months

Ongoing APR: 15.24% to 24.24% variable

Balance Transfer Fee: 3% of the transfer amount that posts to your account, 5% of the transfer amount after that.

Cash Advance Fee: $10 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

Cards no Fees: DCU Visa Platinum Secured Credit Card

The DCU Visa Platinum Secured credit card offers a competitively low-interest rate, there are no annual or transaction fees on the card, but you’ll get access to several other perks like free auto rental collision damage waiver, optional overdraft protection, free travel insurance coverage, and extended warranty on most of your purchases.

This card does not approve or accept non-members. You must be a member of the credit union before you can apply for the DCU Visa Platinum Secured card.

Minimum Credit Required: Any

Annual Fee: $0

Intro APR: None offered

Ongoing APR: 13.75%

Cash Advance Fee: None

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

7 Smart Credit Cards to obtain this year If you have no Credit

Cards for Immigrants and Permanent Residents: Deserve EDU MasterCard for Students

The Deserve Edu MasterCard is great for immigrants and permanent residents who don’t have a social security number. What is required is proof of  U.S. bank account balance, passport ID, Student Visa.  The moment you’re approved, the Deserve Edu MasterCard will pay 1% unlimited cash back on all purchases made on the credit card. This offers students a credit limit of up to $5,000. There is also a 3% cash back on travel and entertainment, 2% back on restaurants, and 1% back on all other purchases.

But There’s no option to get a cash advance, which can be an inconvenience if you’re in need to get cash in an emergency.

Minimum Credit Required: Average

Annual Fee: $0

Ongoing APR: 20.99%

Balance Transfer Fee: N/A

Cash Advance Fee: N/A

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

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