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Credit card for no credit
11 Aug 2017

Credit card for no credit

What do you do when you need a loan and need a credit card but lack the credit score to be approved for a card with most credit card companies?

You may be asking yourself, “Can I still get approved for a credit card even with bad credit or no credit?”

The fact is, around a third of all US adults who have a significant credit history at all have poor to bad credit. And there are millions of people with no credit history to speak of as well.

That is too big a segment of the economy for credit card lenders to simply ignore. And given that many people with below average or non-existent credit scores are fully able and willing to pay their credit card bill on time, it would be foolish to ignore these consumers.

So the answer is a resounding “Yes!, you can get a credit card for no credit applicants and can get instant approval credit cards for bad credit applicants.

You could apply for a secured credit card, but those will require you to come up with sometimes hundreds of dollars as a deposit before you can even get started. If you are strapped for cash, you can’t tie up the little bit you have just to obtain a credit card.

If you have a checking account, you can get a debit card. But many with poor credit don’t even have a bank account, and if you need a line of credit, debit cards obviously don’t provide that for you.

And prepaid debit cards aren’t the answer either because they don’t provide a line of credit. But what other options are there?

A Credit Card for no credit Applicants

Is there a way that you can get a credit card with no credit required for approval? With online payday direct lenders, there is.

Many young people, college students, and others without a significant credit history may have trouble getting approved for certain credit cards. But you will find there are student credit cards and other options available.

The credit limit may be lower on these cards, but it can be sufficient for the short-term. And you can normally get credit line increases fairly quickly by making all of your payments on time.

In essence, a credit card for no credit is an “entry level” credit card that allows you to establish a good credit history when you currently have no credit history.

In the past, payday loans had to be secured by writing out a postdated check to be cashed on your next payday or by doing the online equivalent thereof. But since many would-be payday loan customers lacked a bank account, several years ago, payday lenders started offering a credit card for no credit applicants.

Your initial loan is loaded onto the credit card, as are your paychecks. And your loan payments are automatically taken from the card on the due dates, helping to avoid late payments and late-payment fees.

These cards often allow you an overdraft allowance, for a fee, and may even allow an overdraft cushion of, say, $10, that avoids the fee.

Instant Approval Credit Cards for Bad Credit

Instant approval credit cards for bad credit have a number of important advantages. First, they are much easier to qualify for and to set up rapidly when in a financially difficult situation.

But they also greatly simplify the payday loan process and speed it up. With funds direct deposited to your card, you skip the time-consuming hassle of constantly getting your loans in-person. Nor do you need to go set up a new checking account in order to qualify for the payday loan (as is often otherwise the case.)

The second major advantage of a payday lender credit card for no credit customers is that your card can help you rebuild your credit score. That is simply not the case with prepaid cards or bank-account debit cards.

As long as you make your payments on time and keep your card balance significantly below the credit limit, you card will help you nurse your credit score back to health.

Instant approval credit cards for bad credit applicants make it faster and easier to get payday loan cash, to use the card like a mini-checking account (where your paychecks are deposited), and to rebuild your credit rating.

Those who have had financial difficulties in the past that have left marks on their credit scores can still get a new credit card fast and without a credit check.

Bad credit may mean a higher APR and/or a lower credit limit, but it doesn’t have to mean a denial or a long, drawn-out approval process. And it doesn’t necessarily have to mean a deposit in the hundreds of dollars range will be required.

At Bonsai Finance, we can help you find instant approval credit cards for bad credit at highly competitive rates. Almost everyone who applies is approved. If someone has a delinquent or defaulted credit with us already, then we could not approve a new credit card, but most others will be approved.

We can approve you for an unsecured credit card in a matter of minutes because our online applications are simple, fast, and only ask for essential information. We don’t bog you down with a credit check, a deposit, and other delays or restrictions, but simply give you a quick answer to your application. And that answer is almost always “Approved!”

We can help you find credit cards for bad or no credit. And we offer guidance on payday loan credit cards as well, which allow you to conveniently combine your loan, credit card, and what functions much like a debit card, all into one.

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