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Credit cards for no credit offer high approval odds to anyone who’s just starting out in the world of consumer credit. When you have no credit, it can be tough to purchase big-ticket items or get the green light to rent an apartment or finance a car.
But in just a few months, you can build a credit score, establish responsible spending habits and be on your way to broader financial options. The Capital One® Secured Mastercard®, for example, can give you access to a higher credit line after you make your first five monthly payments on time. And Americans are using their credit cards now more than ever to make purchases and establish credit.
As of 2017, roughly 30% of borrowers with credit scores between 620 and 659 have limits below $2,000, and 84% of borrowers with scores of 780 or higher have limits greater than $10,000, according to a TransUnion Q1 2017 Industry Insight Report.
If your goal is to build your credit score and grow your credit line over time, it might be worth considering a starter credit card aimed at those with no credit.