Compare credit cards for no credit

Best secured card for no credit
OpenSky® Secured Visa® Credit Card

Finder Rating: 3.8 / 5

★★★★★

Credit recommended (300-669)Apply nowon Capital Bank N.A.'s secure site

300
Min. credit score

$35
Annual fee

n/a
Rewards

n/a
Welcome offer

• Info
• Pros & cons
• Details

A rare secured card for no credit that lets you apply with no credit check.

• Build your credit. The card reports to all three major credit bureaus, which can help strengthen your credit. All you have to do is keep your utilization low and make timely payments.
• No credit check. OpenSky only uses your ID to confirm your identity — it won't do a credit pull.
• Credit line. You have full control over your credit line, as it's the sum of your security deposit. You can make a deposit from $200 up to $3,000.

• Annual fee. The card comes with a $35 annual fee.

Annual Fee	$35
Purchase APR	17.39% variable
Balance transfer APR	N/A
Welcome offer	N/A
Estimated welcome offer value
Rewards	N/A

Best unsecured card for no credit
Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Finder Rating: 2.9 / 5

★★★★★

Credit recommended (600-850)Apply nowon WebBank's secure siteRates & fees

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600
Min. credit score

$0
Annual fee

Up to10%
Cash back

n/a
Welcome offer

• Info
• Pros & cons
• Details

Build your credit with rewards and no fees: Apply if you're new to credit or have a fair to good score.

• No credit history required. To be approved for most rewards credit cards, you need a good or excellent credit score. Petal, on the other hand, analyzes your income and financial records, including your checking accounts and bill payments to determine your eligibility.
• Cash back. Earn 1% cash back on all eligible purchases. Make six on-time monthly payments and your rewards rate goes up to 1.25%. After 12 on-time monthly payments, your cash back rate will increase again to 1.5%. As of December 2019, Petal awards you with 2% to 10% cash back at select merchants.
• No fees. You won't pay an annual fee for the card, no foreign transaction fees when using the card abroad or overlimit and late payment fees.

• No signup bonus. Most similar cards come with a signup bonus in one form or another. Unfortunately, you won't get anything extra with the Petal® 2 "Cash Back, No Fees" Visa® Credit Card.

Annual Fee	$0
Purchase APR	12.99% to 26.99% variable
Balance transfer APR	N/A
Welcome offer	N/A
Estimated welcome offer value
Rewards	1% cashback, 1.25% after six on-time payments and 1.5% after 12 on-time payments, plus 2% - 10% back from select merchants

Best for those moving to the US
Jasper Mastercard®

Credit recommended (580-850)Apply nowon WebBank's secure siteRates & fees

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580
Min. credit score

$0
Annual fee

Up to6%
Cash back

n/a
Welcome offer

• Info
• Pros & cons
• Details

The Jasper Mastercard® is designed for professionals relocating to the US and doesnt check for credit score as a result. In fact, you dont even need a Social Security number to apply.

• No credit history required. Jasper will look at other aspects of your financial history to determine your eligibility, such as your work history and debt-to-income ratio.
• No annual fee. You won't pay an annual fee to use this card.
• No security deposit required. The Jasper Mastercard® is an unsecured credit card and doesn't require a security deposit.

• No signup bonus. This card doesn't offer new cardholders the opportunity to earn a signup bonus.

Annual Fee	$0
Purchase APR	15.49% to 24.99% variable
Balance transfer APR	N/A
Welcome offer	N/A
Estimated welcome offer value
Rewards	1% cash back on purchases plus an extra 0.5% for a full year for every friend you refer and bring on board for up to 6% cashback, terms apply

Best for no upfront deposit
Self Visa® Credit Card

Credit recommended (300-699)Apply nowon Self Financial, Inc.'s secure site

300
Min. credit score

$25
Annual fee

n/a
Rewards

n/a
Welcome offer

• Info
• Pros & cons
• Details

The Self Visa® Credit Card is unique in that it just requires you open a credit building account with Self to qualify.

• No credit history required. To apply, you'll need to open a credit-building account with Self and meet their requirements. You won't pay an annual fee to use this card.
• Choose your own credit limit. Once you qualify for the Self Visa, you can choose your own credit limit based on the amount you saved in your Self account.

• No rewards. This card doesn't offer opportunities to earn rewards on purchases.

Annual Fee	$25
Purchase APR	21.74% variable
Balance transfer APR	N/A
Welcome offer	N/A
Estimated welcome offer value
Rewards	N/A

How to get a credit card with no credit

To get a credit card with no credit:

• Look for a card that’s open to those in your financial circumstances. These typically include secured and student cards, but may include unsecured and store products. Avoid cards that are stacked with features, as they usually require strong credit.
• Check the requirements. Depending on the type of card, you may need to supply a security deposit.
• Apply for the card. Have information such as your contact details, Social Security number and total annual income on hand. If you’re applying for a secured card, you’ll need to provide the bank info from which you’re supplying your security deposit.

How to start building credit

If you have no credit history, follow these steps to start building it:

1. Decide on a credit account.
   Compare different types of credit accounts that can help you start accumulating data on your credit report. You can open a credit card, for example, or get a credit-builder loan.
2. Compare lenders or issuers.
   Make sure your lender reports your activity to the three major US credit bureaus: TransUnion, Equifax and Experian. Over time, this gets you a credit score derived from the information from these bureaus. This is important because lenders often pull credit reports from just one bureau when making approval decisions.
3. Make payments consistently.
   Once you’re approved for a credit account, make your payments on time and keep your account in good standing. This will ensure your lender reports positive activity to the credit bureaus. After at least six months of credit activity, you’ll get a credit score.

In addition to these things, you can also help your score by keeping your card balance low, retaining your cards for a long time, opening other types of credit accounts and opening new accounts sparingly. The aim is to eventually build a good credit score — at least 670 for your FICO score. This gives you the opportunity to apply for more valuable credit cards and get better interest rates on loans. There are four types of credit-building credit cards that are especially useful if you’re just starting out.

Types of credit cards for no credit

You’ll want to apply for credit cards you have a good chance of being approved for. These include:

• Secured credit cards.
  A secured card requires an upfront deposit — typically at least $200. While the deposit is a bummer, you’ll have many secured cards to choose from. Most of these cards require no prior credit history.
• Student credit cards.
  These can be great options if you’re enrolled in a college or university. Most student credit cards don’t require security deposits, unlike secured cards.
• Business credit cards for no credit.
  If you’re a business owner, you might want this type of card to separate your personal and business expenses. While you’re mostly limited to secured cards, you might also want to consider a line of credit such as the The Kabbage Card.
• Unsecured cards for no credit.
  If you don’t want to put down a deposit for a secured card, look for providers that welcome applicants new to credit. Consider products such as the Deserve® Classic Card and Petal® 2 "Cash Back, No Fees" Visa® Credit Card.

You might see an unsecured card and jump at the chance to apply. But a closer look at its fee table may reveal extremely high fees and interest rates.

What is considered no credit?

If you have no credit, it means you have no history on your credit report.

Your credit report is a record that shows information such as your debt, payment history and how long you’ve had credit accounts. If you haven’t borrowed money — for example, through a loan or credit card — you won’t have a credit history.

A credit history is important because it’s similar to a report card. It’s something lenders can use to judge how reliable of a borrower you are. If you have no credit, you’re a question mark to lenders, and they’ll be more hesitant to accept you as a customer.

Why is it important to build credit?

Your credit score plays an important role in whether providers are willing to lend to you when it comes to making big purchases. Personal loans, mortgages, and auto loans are just a few of the big-ticket items you’ll need to consider as you make life’s big purchases. Depending on your credit score, the amount a provider is willing to loan you can increase or decrease.

You can check your credit score through one of the three major credit bureaus.

Bottom line

If you have no credit, there are plenty of good credit cards to start with. As you make card payments on time, you’ll steadily build your credit score. With a strong score, you can apply for better credit cards, including cashback and travel products.

Frequently asked questions

• Why should I consider unsecured-card providers like Deserve and Petal?
  These providers have proprietary methods to evaluate applicants, so they don’t require credit scores. Also, you won’t pay annual fees for their credit cards.