subject: Why Is It Important To Get Credit Cards For No Credit History [print this page] Most of us understand the basic importance of having our own credit cards. Because of the demands of the commercial world, more and more people recognize the vital roles that these plastic cards play. This recognition prompts people not just to get one or two cards; some even decide to apply for more than four credit cards!
But despite this growing recognition, a lot of people remain hesitant to get their own cards. If you are one of them, what stops you from getting a credit card? Is it your lack of credit history? If this is the case, then read on the reasons why you need to have your own credit card for no credit history.
Why Get Credit Cards for No Credit History
You need to have credit cards for no credit history, otherwise known as secured credit cards, these days. The reasons for this will be discussed below.
Reason 1: Transactional Requirements. - The business world compels us to have our own credit cards. Why? Most shops and business establishment now rely on the use of plastic cards. For example, you can only reserve hotel accommodations and transportation services online through your credit card. Aside from this, online shopping greatly depends on credit card transactions. Thus if you do not have a reliable plastic card, you cannot take part in these important activities, even if you can pay in cash.
This goes to show that the transactional requirements in the world of commerce demand people to have secured credit cards. Without these cards, a person will be left behind and he will not be able to enjoy the simple services and products of shops and stores. So, you need to get credit cards for no credit history right away.
Getting a secured credit card is very easy. All you need to do is just open an account in a bank, and deposit at least $300. Then, you must fill up an application form and submit all the necessary documents. Finally, pay the necessary processing fees and charges. Soon you can receive your own plastic card, which you can use for whatever needs you may have.
Reason 2: Need to Build Credit History. - Of course, we can never say when we will be needing credit lines. A domestic need or a medical emergency may suddenly require us to locate instant funds for credit. But this will prove very difficult to do if we do not have credit history. Most credit firms shy away from extending people without credit history sufficient funds for credit. Thus, it is important that we establish our credit history today.
Getting a secured credit card is the easiest means to build credit. Managing your card properly can help you establish your credibility as a debtor. This will help you expand your credit prospects for you to easily get low interest credit lines.
These are just two reasons that compel you to quickly apply for secured credit cards. So why not get one today, for you to start building your credit history?
