No Credit Credit Cards
Are you of college age or just graduated from High School? If so, you probably don't have any credit and you need to start building your credit. There are plenty of no credit credit cards to choose from the help you build your credit, but there are a few things you need to know before you get a credit card.
First, you don't need a high limit because you probably don't make or spend a lot of money. If you abuse a high limit you will not be building credit, but instead you will be hurting your credit. You need to make sure that the limit you have is low enough that you could max it out for an emergency and pay it off in a month.
Second, understand that you cannot carry more than 25% of your credit limit or you will ruin your credit. It is hard to build good credit, but you need to understand that if you max out your credit cards and you don't pay them off you will hurt your credit. This is how the ball starts rolling down the wrong hill and can get you into some serious trouble.
Last, make sure you keep your credit card in your wallet or purse as much as possible. You need to only use it for gas and emergencies. Then, pay it off each month on time and forget you have it. When you use it for gas you should put the same amount you spend into your bank account in cash so that you can pay it off at the end of the month when the bill is due.
No credit credit cards are great for students and young people, but you have to be responsible with your credit. You need to make sure you pay off your card on time, never max it out unless you have an emergency, and be responsible with your card. If you do this you will build up a good credit rating over a couple of years and it will help you in the future with larger purchases.
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