How do I get a credit card if I have no credit rating?
Posted January 18th, 2009 In a similar fashion to people with bad credit, people with no credit history can have a difficult time getting a credit card, or any type of loan.
People who don’t have credit ratings generally fall into a couple of categories; students / young people and immigrants. Students have a slightly easier time of it as financial institutions perceive them as a decent risk, based on the earning potential once they finish Uni. As such Uni students often get inundated with offers, if you’re a student, the issues is more likely to be around chosing the right offer, rather than trying to find a credit card.
Young people who don’t go to uni may have a harder time getting access to credit cards, which puts them in a difficult situation.
The final significant group of people who may find themselves without credit history are immigrants. Credit histories aren’t shared between countries and when you arrive in a new country you’re effectively starting at zero.
There are a few other options (people who’ve chosen not to seek credit before, or people who’s credit rating has disappeared through lack of use.
If you find yourself without a credit rating or history, irrespective of which category you fall into, there are a few options available to you, including prepaid credit cards, like the cashplus prepaid Gold MasterCard, or credit cards for people with bad credit, or without a credit history, such as the Vanquis Visa card.
As long as you keep on top of your card payments (paying the maximum amount you can, and always on time) you should build up a good credit rating over time.
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Comparison of Top 10 Credit Card Offers
| Credit Card | Card Details | Interest Rate | Cash Advance Rate | Balance Transfer Rate | Annual fee | Interest free days | ||
|---|---|---|---|---|---|---|---|---|
 Halifax All in One Credit Card |
The Halifax All in One credit card offers a great introductory rate, and is perfect for saving you money now as well as in the future. | 15.9% APR | 27.95% p.a. (variable) | 0% for 9 months | No Annual Fee | 59 Days interest free |
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 Virgin Credit Card |
As well as a great rate, the Virgin Credit Card comes with:
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16.6% APR (variable) | 27.9% p.a. (variable) | 0% for 16 Months (2.98% fee on balance transfers) | No Annual Fee | 50 days on card purchases |
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 Capital One Classic Visa |
This card is designed for people with bad credit ratings, this is why the rate is quite high. |
Typical 34.9% APR variable | 34.9% APR | 34.9% APR | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
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As well as earning Flying Club miles which you can spend on brilliant rewards like flights, upgrades, car hire and more, a Virgin Atlantic Credit Card gives you up to 46 days interest free on card purchases. |
17.9% APR typical rate | 20.9% p.a. (variable) | 0% for 6 months (2% handling fee) | No Annual Fee | Up to 46 days on card purchases only. |
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The Virgin Prepaid MasterCard from Virgin Money is a prepaid Mastercard that you can add funds to, and use these funds for normal purchases. |
N/A | N/A | N/A | N/A | N/A |
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5% cashback on purchases in your first three months (up to £4,000 of spend). Thereafter, earn 0.5% on the first £3,500, 1% on £3,501 to £10,000, and 1.5% after £10,001. |
18.9% p.a. | 27.9% p.a. | 18.9% p.a | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
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Vanquis Visa Card is designed for people with no credit history or who have previously had bad debt. Representative 39.9% APR (variable) |
Representative 39.9% APR (variable) | 39.9% | N/A | No Annual Fee | Up to 56 days on card purchases only |
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The award winning prepaid card with no credit check or bank account needed. | Funds in your Account will not earn interest | Prepaid only - N/A | Prepaid only - N/A | £59.40 p.a. (£4.95/month) | Prepaid only - N/A |
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