Credit cards for no credit history are a reality but usually they cost a lot more than credit cards for those who have a good credit history. Getting that first credit account can be a tough assignment and it may be necessary to really shop around to get a credit record going. Once you get that first approval the rest fall in line and offers will come in the mail.
The main reason it is hard to get the very first credit account is that the lender has no clue about the person applying and their ability to be responsible about paying up on their bills. Most financial decisions are based on statistics and when it comes to bad or poor credit the statistics will show that those persons have such a low rating because they have not handled their credit accounts responsibly.
There are credit cards for no credit record applicants. The statistics are fuzzy when it comes to how a lender should look at the first time credit applicant who has never been tested yet. Many credit card companies will extend a credit account to persons with no credit history. They may charge a higher interest rate or a higher annual fee to cover a potential problem with anyone in this low or no credit group. Other credit cards are available that have a very low limit and high annual fee. Another variation of this program is where the applicant gets a secured credit card.
With a secured credit card the lender has the applicant submit an amount equal to their limit in advance and they hold that amount. The applicant gets approved and can then use the card up to that amount. The lender may or may not pay interest on the security amount. For the borrower this is one good way to get accustomed to using a credit card and to learn responsibility for payments. Over time they will get a credit record history established as the credit card company does report to the big three credit reporting agencies about this account and payments that are made. Some will return the security amount after considerable time has passed without a problem.
Students are more likely to be approved by credit card companies as they have no credit record but they are in a pool of persons demographically who tend to be better in handling credit accounts. Once again, it is the first card that is hard to get and most important to handle wisely.
Finding credit cards when you have no credit history is not that hard to do. When you do decide to try for one be sure to make all your applications on the same day. This reflects as one hit on your credit record which shows applications. Look on the Internet and compare offers to find the best deal on credit cards for no credit.