Credit Cards For A Limited Credit History
If you’re one of the millions of people with a limited credit history or no credit at all, acquiring new credit can often be daunting and difficult. It is not that you are a bad credit risk, but banks and lenders won’t extend credit to you because you don’t have much of a repayment history, if any at all. In the past you may have had the ability to always pay cash for your purchases and didn’t need to use credit, but now you may be considering a larger purchase like a car or other large purchase in the future where utilizing credit is the only way you’ll be able to make that purchase.
Credit cards are a very good way to build a solid credit history and are easy to obtain. Although most lenders like to see a 24 month credit history, just having a six month history can help improve your credit rating significantly. For those with a limited credit history, a Capital One credit card can be a great starting point to begin building a good credit history. Capital One has several credit cards designed for individuals with a limited credit history.
The most popular credit card is the Capital One® Platinum. The Capital One® Platinum can be applied for online and offers a very low rate on all purchases. All your purchases will receive an introductory 0% APR until February 2008. If you need to transfer a balance, you can do so with no balance transfer fees. Credit limits are available up to $3,000 and you can enjoy additional benefits like extended warranties, travel insurance and 24-hour roadside assistance. There is a $39 membership fee associated with this credit card.
If you are looking for a reward credit card and want to earn points on every purchase you make, consider the Capital One® No Hassle PointsSM Rewards credit card. With this credit card, you can earn five points on every dollar you spend at gas stations, major grocery stores and drug stores. All your other purchases will earn one point for every dollar spent. Purchase you make with the card until February 2008 will receive an introductory 0% APR. There are no balance transfer fees and there is a $29 annual membership fee. The points you earn never expire and can be used for brand-name merchandise, gift cards and more.
If you have a limited credit history and want a credit card that earns you cash back on all your purchases, then starting earning with the Capital One® No Hassle CashSM Rewards credit card. You’ll earn 1% cash back on every purchase you make, plus a 25% bonus each year with no limit or restrictions. Get 0% APR on purchases until February 2008. Credit lines are available of $300 to $3,000 to help you start building your credit history. Enjoy all this for only a $29 annual membership fee.
Whichever credit card you chose, a Capital One credit card can help you build a good credit history. With several limited credit history credit card offers available, there is sure to be one that fits your needs. Make sure to make all your payments in a timely manner and don’t charge up high balances. Utilize these tips and you’re sure to build a solid credit history.
