Top 3 Credit Cards for Those With No Credit History
If you are suffering from poor credit, or have no credit history then it can be very difficult to get accepted for a credit card.
There are however specialist credit cards which are designed for people with little or no credit history.
This guide will look at the top 3 credit cards for those with no credit history.
Vanquis is one of the best known credit cards for people with poor or no credit history. They have been around for years and offer special credit builder cards. The credit limit starts at between £500 and £1000. Over time once you have proved that you can pay the bills the credit limit will increase. Continue to pay each bill and this will benefit your credit score. Vanquis does charge quite a high APR, but there is a good chance of most people being approved.
Aqua credit cards offer a few cards which are suitable for building credit history. This includes their aqua advance card. This offers a reduced interest rate, as long as the credit limit is not exceeded. It also allows you free access to your credit report so that you can see exactly what the banks know about you.
Luma is a relatively new card issued by Capital One. It’s aimed at people looking for a way to rebuild their credit and improve their credit score. The interest rates are higher than Aqua and around the same as Vanquis. You can manage your account online to ensure that you stick to the credit limits and make all monthly payments.
As long as you use these credit cards wisely they can be used to build your credit history. As long as you make your monthly repayments on time each month then you should be able to build a positive credit score. This will make it much easier to apply for further credit in the future. For more information on credit cards for people with no credit history, visit yescreditcards.co.uk.