credit cards for no credit

The average credit score in the U.S. is 687, which is just below the milestone 700 which is considered a “good” score.

But having no credit history can sometimes be just as bad as having a poor score. Having no credit can make it difficult to make big purchases. It can also make you ineligible for most major credit cards.

Luckily, there are plenty of options out there that you are eligible for.

Keep reading to learn 3 of the best credit cards for no credit.

Discover It Student Cash Back

Building credit can be tough, especially when you’re a student. After all, you’re likely living in a dorm or student rental, on your parent’s insurance, and hitting the books rather than punching a time clock.

But without credit, after graduation you may not be able to buy a house, a car, or make other big purchases.

Luckily, there are plenty of credit cards out there that are designed to help students build credit. The Discover It Student Cash Back card is one great choice.

Not only is this card available to students with little or no credit history, but it also has no annual fee, so all of your money can go towards keeping that balance low.

Every quarter, you can also enroll to earn 5 percent cash back at different venues, such as grocery stores or gas stations. All other purchases made on your card will earn you 1 percent cash back.

Normal credit cards offer tons of rewards and benefits. For example, comenity bank store cards give holders access to promotions, deals, and discounts.

But many credit cards that are available to those with no credit history offer few benefits. That’s just one reason why this Discover It card is a great option for students.

Capital One QuicksilverOne Cash Rewards Credit Card

Even if a credit card does allow holders to have a very little credit history, odds are that they won’t offer you a very high credit line.

While Capital One’s QuicksilverOne Cash Rewards Credit Card might give you a low credit line initially, the card is designed to help responsible borrowers earn a higher line fast.

If you have your first 5 monthly payments on time, you’ll automatically be eligible for access to an increase in your credit line.

While the card does have a $39 annual fee, it comes with plenty of other benefits, like access to your credit score, warranty coverage on purchases, auto rental insurance, and more.

Citi Secured Mastercard

Most credit cards rely on your credit score, income, and other factors to determine the amount of credit you’ll have access to. But a secured credit card is different.

Rather than relying on your credit score, you’ll make a refundable deposit. That deposit will determine your credit line, often on a one-to-one ratio. This gives the bank some peace of mind while also giving you a chance to start building credit.

The Citi Secured Mastercard is one great option. With no annual fee, auto pay, alerts, and online banking, this card is perfect for those who are new to the world of credit cards.

Choosing the Right Credit Cards For No Credit

Any of these credit cards for no credit can help you start building a strong credit history.

While you’re growing your personal financial knowledge, why not start also learning about expanding your business’ finances. Check out this post next to learn how to build your dream business with venture capital financing.

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