Credit Cards for People with no Credit History

Cards for persons without credit card history

Persons with no credit history are usually students, newcomers and those who have never taken out a loan or credit card. Those persons are considered as persons with a "thin file". The main credit card was one designed specifically for people with no credit history or a bad credit history.


Halifax last weeks introduced its Classic Visa on the market, which costs 27 Euros. Interest is much higher than the 8. 9 percent that is charged on the least expensive credit cards the banka. "More people will be moved to more costly credit techniques like this [Halifax Classic Visa] credit line.

" Halifax, though, says that its classic visa will not end up as a landfill for a large number of people who may not have A1 creditworthiness. Instead, she emphasizes that the map is only intended for a "niche market": people with little or no creditworthiness.

Classic is not intended for people with bad credit history, the so-called subprime procedure, who have previously fallen behind. The main actors Barclaycard and Capital One both have a higher quality plastics for "non-standard" clients. Barclaycard blank cards (introduced in 2003) cost 27. 9% and Capital One Classic (introduced in 1999) 34.

Since the prices for these items are similar to those associated with loyalty cards, Mrs Owens warns: Humans should not have any unpaid balance on these cards for an extended period of inactivity. "Halifax introduced its classic visa at a times when many financial institutions are seeing it more and more costly to fund consumer credit, mortgage and credit cards.

And Barclaycard has lowered spend limit on cards for tens of millions of customers.

What is the best credit for an 18-year-old without credit history?

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