Don’t get depressed if you have no credit history credit cards. You still have the options of issuing credit cards with low costs. But then for getting a new credit card also you need a credit history. The creditors need your previous credit card history to check how serious you are with re payments and what are your financial conditions. Having no credit history is somewhat equal to having a bad credit. You don’t need to be miserable on this regard because what exactly matters is your outlook for the credit card issuing companies. Even they have to give loans and lend credit to people since it is their only business.
The high interests charged on the transactions and loans make them even more affluent. Most of the times, students have to pay high interest rates because they don’t have regular payment and nor do they have a satisfactory credit history. But then, if you have a bad credit history, it is more likely that you will have to pay high interest rates and have curtailed credit freedom. But there are other banks that don’t need you credit history. These banks will provide you the opportunity to have a strong credit track record. You can also go for cards of retail stores since the retailers don’t have high risks as banks have. While they will also make you start of with your credit ratings so that you can have a decent credit history.
Mar 18