subject: How To Acquire And Use Credit Cards For People With No Credit [print this page] As long as money has existed, people have always had debts. If debts did not exist, everyone would be rich and free from financial constrains. However, debts will always be acquired and the only way to make sure that they do not over-run your life is to learn how to minimize them. With the credit cards for people with no credit, you can minimize your debts and maintain a good rating history.
Why good financial rating histories are important
Banks and other lending institutions require borrowers to have untarnished credit ratings. These credit ratings assure the lending institution that they will receive payments for the money borrowed. It is quite easy to end up with low-credit ratings; life is unpredictable and unforeseen debts may be pile up and set back your debt payments. With the balance transfer offers, you can maintain a good credit rating while minimizing your debts.
How to acquire these cards
The credit cards for people with no credit can be acquired online. There are several sites which provide comprehensive information about these cards, and also they offer links to financial institutions who issue the cards to people with no credit. These sites basically help people with limited or no credit, bad credit and fair credit to find ideal cards which work for their requirements. The process is simple; once on such a site, you will be required to choose your preferred credit card in line with your financial situation. Once you make your selection, you will get a list of issuing companies who provide your preferred package. The next step is to simply sign up for your preferred package.
How to use these credit cards
These credit cards function in a similar way to the ones traditionally issued by financial institutions. The only difference is that they are structured to help those who have credit debts to clear them and ultimately maintain good credit ratings. These cards also come with balance transfer offers which are bundled-up with reward systems. Every time you use these cards to make purchases you are rewarded with redeemable points. The cards issued to individuals with limited or no credit, in particular, come with a 2% money back offer on groceries and gas purchases. These cards also come with a 1% money back offer, on all other purchases made using the card. Most of these cards also come with 0% Annual Percentage Rates (APR), for a considerable amount of time.
Where can you use these cards?
The credit cards for people with no credit can be used online and in traditional stores as well as establishments to make purchases. The accumulated points are redeemed for gift certificates, air travel and hotel stays, as well as for a number of other merchandise and services.
