The credit cards & prepaid cards listed below are the most popular cards for consumers with limited to no personal credit. These limited or no credit credit cards are designed to help consumers establish their personal credit. Take time and search through this list of credit card offers for consumer with limited / no credit, and apply for one that best meets your needs.
Credit Cards for People with Limited / No Credit History
There are many reasons why people have limited or no credit. They may have experienced a job loss or had medical bills that put them thousands of dollars into debt. They may have gotten in over their heads with student loans or just overspent on everyday items with the credit cards that they had.
If you have limited or no credit, you may think that you can’t qualify for a new credit card. But there are some banks that are willing to take a chance on you and give you the opportunity to rebuild your credit. You’ll have to pay an annual fee, and your credit limit will be low and your interest rates high for the first several months. But if you prove that you are now a better credit risk, you may be able to get a raise in your limit and a reduction in that monthly rate.
Another option for people with limited or no credit is a prepaid debit card. You load money onto the card and use the card until that money is gone, when you can reload it. Some banks may require you to load a certain amount onto your card each month. The problem with prepaid cards is that they usually have monthly and/or yearly fees and that banks don’t report your usage of them to credit bureaus. That means that even if you use a prepaid card responsibly it won’t help improve your credit score.