So today’s topic is for people who don’t have credit. Maybe you’ve never had credit ever. Maybe you’re 18 years old, maybe you’re 65 years old, but you’ve never had the credit or very, very limited credit. Regardless, I’m going to share with you the best 4 credit cards for low credit history.

You guys are going to love this because I’ve gone through and dissected the top four cards that are going to be really good for you for building your foundation.

Remember this, no annual fee, no annual fee, no annual fee, no annual fee.

These four cards I’m going to mention are zero annual fees and a lot of those have 0% interest. We’re going to talk about that as well, but let’s get right into it.

So first thing first is if you’ve never had credit, you need to start somewhere.

The question is is that going to be a secured card or is that going to be an unsecured card?

Well, a lot of credit card companies, you want to start with it secured card, because they are typically not going to give you a lot of credit if you have zero.

Now, we’re talking about people that don’t have an account, any trade lines on their credit and they’re just blank.

You’ve got to start somewhere. So if you have zero, the chances of you getting a $50,000 credit card, pretty unlikely.

Because they’re going to base it off your credit.

So let’s talk about this for a second. I’m going to start with number four.

In my opinion, the number four card that you should get is going to be the Discover It card.

The Discover It card, phenomenal card for building credit. It is the foundation credit card.

You can get this in secured, which basically just means that let’s say $300, you give them $300 they secure you a credit card and give you a line of credit of that exact amount, so $300.

After a few months of making your payments on time, making sure you keep your low utilization, they’re going to refund the $300 back to you and then you’ll be unsecured. So the Discover It is great.

It gives you back 2% on restaurants and 2% on everything. So it’s a great card and again you can get this in secured or you can get it as an unsecured.

But if it is your first card and you have nothing and you go with that choice, think about it probably being a secured card cause they have nothing to base anything off of creditworthiness prior.

Number three is going to be Citi Cash Back card. Citibank has a cashback card. In my opinion, is one of the better one for cashback, but a phenomenal card to have.

Again, no annual fees. If you guys are just building and say you’re 18 years old, you do not want something that you are paying an annual fee, whether that’s $30, $50, $70, whatever. Some cards are like as high as $500, $600 a year, okay. Some of the American Expresses.

So you want to find a line that doesn’t have an annual fee. You don’t need to pay every month for this.

Or annual fee, every year for a credit card. Find the ones like this. Citi Double Cash card gives you 2%.

The really cool thing about it is it gives you 2% on everything.

I don’t care what it is, it’s a double cash card. So what double cash means is 2% on everything and then 1% on restaurants and gas.

So you can actually get more than 2%. Phenomenal card, a relatively easy card to get. And again, this will be an unsecured credit card.

You do not have to put money up on this one. You can just apply for it as an unsecured line of credit. That’s my number three.

Going down to number two is our Chase Freedom card. This card is absolutely phenomenal.

Let me ask you guys a question. Do you want to make $150? Who doesn’t want free money?

This card is an absolute game-changer when it comes to giving money away.

So for a card that you’re looking for cash, free money, the Chase Freedom card allows you to do this.

As long as you spend $500 in the first 90 days of opening the line, they will send you back $150 of free cash.

Now here’s the cool thing about this card, zero annual fees, and 0% interest for the first 12 months.

The other really cool thing about this is this.

And if you guys are going right now thinking like, I don’t know how I’m going to spend, I’m going to go out and buy shoes and I’m going to go buy a dress and I’m going to go on vacation, you shouldn’t be thinking about how to spend the $500.

What you should be thinking about is instead of using my debit card for the first couple purchases, whether it’s gas or whether it’s food or you guys are going out to dinner, whatever the case is, the first $500 instead of using your debit, use this Chase Freedom card.

Why? Because they’re going to send you back $150.

All you got to spend $500.

So don’t think about how am I going to end up finding what to spend on?

Just do it on normal daily purchases and put it on the Chase Freedom versus your debit.

They’re going to send you back a $150. Great, a great card for building. Relatively easy card to get as well.

And I’m going to give you some tricks and tips here at the end of this video, but that is my number two choice.

And the number one choice card is the Bank of America rewards card. Let me tell you about this card.

Do you guys want free money? This is the king of cashback. Why? Bank of America will give you $200 back.

I haven’t seen any higher than that. That’s one of the highest I’ve seen.

This is why I chose this card. Bank of America will actually give you $200 back when you spend $500 in the first 90 days. Same thing as the Chase Freedom, but they’re going to give you $200 back instead of $150 back.

So you guys want free money, get the card, buy gas, go out to dinner, normal stuff that you would do and then just put it on the Bank of America cashback card.

This red card is phenomenal. A lot of people love it.

Just a phenomenal card.

Now, the catalyst to them giving you so much money, and this is where you want to be careful, I’m going to give you guys a little insight, is that you want to make sure that you use the card to get the cashback, but what they want you to do, because look at the other cards I’ve mentioned.

Those are banks, credit card banks, but they’re not actual location banks.

So think about it like this. Bank of America has locations.

What they want you to do after you get the credit card is going open up a checking account.

But where you can get smashed is if you open up a checking account and you open up their regular checking account, not their premier or high rolling checking accounts, they’re going to hit you with $12, I think it’s $12, $13, $14, somewhere around there per month if you do not keep a ledger, an average balance of $2,500.

So think about that.

If you don’t have the $2,500 to keep it into a checking account, then think about maybe not opening up the checking account with Bank of America, maybe just getting the credit card for now.

Then once you accumulate more funds, then you can go back and open up a checking account with them. But that is the callus.

They’re willing to give you a little bit more on the front end to hope that you’ll open up a checking account with them. That is my number one pick.

And the cool thing about it is this card has 0% interest for 12 straight months.

So guys, use the card, you’re not paying any interest. It’s just like using a debit card. Use the card, get the benefits, no interest for 12 months.

Put all your spending on that card and pay it off.

Make sure you paid off in full each month, prior to the statement date.

Remember we talked about the statement date. Find out the statement date of your card so you know when to pay the card off before that it reports.

When is your statement date? Two to three days before that make the payment. Always keep your payments on auto-pay so you make sure that you don’t miss any payments because the most important thing to anything, especially if you’re building a foundation of credit, is to make sure we’re not missing any payments.

So those are my top four cards for people with limited, low or no credit at all.

Also, you might want to consider, because think about it this way, the way that the credit cards work is based on not just score, it’s based on the foundation.

If you have no history, whether you went out and got that Discover It card and whether you went to my list and got your primary lines, you’re going to have zero histories because there’s no history on any of those, whether it’s a primary or the ones I just spoke with you.

It’s month to month until you build it up.

So what I would do is I would get two primary lines that are in the description box with a link and maybe one authorized user or maybe two that has history.

So you can then go and say hey, I want a $15,000 Chase card, whatever, whatever the bank is, Barclays and I want five years of perfect payment history. And what we can do is we can help you add that to your credit report right away so now you’ve got the history and then you circle back and you go to these cards. Why?

More than likely you’re going to get a better limit, better interest rate, and your chances of being approved are going to be much higher than just coming in with nothing.

So the cards I’ve mentioned, make sure you go back to this video as many times if you have to pause it, check it out, see which ones are best for you.

Great, do that. But also go to the description box because you’re going to be able to see the list of primaries, pick two of those.

If you need help, let me know.

Then also we can send you a link as far as our authorized user list. We’ve got over 700 lines with age. You want to be above two years in case you were asking that question, how old should you go? About two years is the minimum.

You can go all the way up to, I got 40-year lines. But something where the least 24 months of history, typically $5,000 to $15,000 is reasonable.

Put that on, get your two primaries and then go back to the list of the four best credit cards and you’ll have a much better chance of getting approved, better interest rate, and then you can start your journey building credit from there.

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