Get a credit card for bad credit no deposit
Whether someone gets a credit card depends on various factors. Many banks expect their clients’ finances to look stable when they apply for a credit card.
In addition, some banks require customers to receive regular money. So they want to ensure that customers can pay off their credit card debt.
In many cases, age also plays a role. As a rule, banks only issue their credit cards to adult customers.
However, if you are underage or have difficulty with your creditworthiness, you should not despair. Some banks refrain from such strict criteria. But https://green-touch.org/bad-credit-credit-cards/no-deposit/ suggests credit cards for bad credit no deposit.
So everyone will find the right credit card
the essentials in brief
- With credit cards, you can pay locally and withdraw money online and worldwide.
- Cards have different costs, many of which are avoidable.
- For most consumers, free credit cards are suitable. However, do not be fooled: providers refer to the annual fee, not all other costs if they advertise with “free”.
- Prepaid credit cards are only suitable if you do not get a regular credit card.
- For gold and platinum cards you usually pay high fees, but in return receive many additional benefits. However, these are only suitable if they match your consumer behavior.
Banks charge different fees for credit cards. If you choose the wrong provider or an inappropriate card, you may pay far too much for the plastic card. So the annual fees can be 0 euros or 100 euros.
So think carefully about what you want to do with the credit card and how to use the card. For consumers who like to travel, the fees for paying and picking up in a currency other than the euro can play a major role. To car, lovers may fit a card that brings a fuel discount.
How do I apply for a credit card?
Applying for a credit card is easy: you complete the application form; In most cases, this is now online. Then send the documents to the bank and prove your identity. For some providers, you will only receive the credit card if you open a checking account with the bank at the same time.
You will not receive your credit card immediately. It usually takes two to three weeks to get the card and PIN together. If the card still has a checking account, the girocard and PIN for the account will be sent to you individually.
Good to know: A bank can cancel your credit card. For example, because it stops the product or because it no longer meets the customer criteria. As a rule, banks do not give reasons.
How does a credit card work?
How a credit card works depends on the type of charge. There are four options: Prepaid, Debit, Batch, and Revolving. Prepaid and debit cards are not actually credit cards, but for many consumers, they look like this because they show the logos of the credit card companies.
Debit – With these cards, the money is immediately deducted from the connected checking account. Thus, they are similar to the girocards (formerly: EC card). H
Prepaid – With these cards, you can only use the amount that you have previously deposited into the credit card’s account, for example by bank transfer. This system is particularly suitable for adolescents and people with bad Schufa rating, as they often do not get a regular credit card.
Important: Debit and prepaid cards can be a problem if you want to book a hotel room or rent a car. These cards may not be accepted on-site when paying.
Batch – With charge credit cards, the sales are deducted from the account on a monthly basis. For the time between payment and booking, there is no interest on the money spent. This will definitely prevent you from sliding into the check-out area of your checking account. Simply use the credit card instead of the girocard when low tide is on your checking account and clear the minus at the end of the billing cycle.
Revolving – This variant works like an installment loan: each month only part of the outstanding balance is debited from the checking account. This installment function involves high-interest rates. But you can, if you want, repay the money at any time in one fell swoop. This is the better option due to the high cost.
Some banks also offer to debit the open amount completely from your current account, so the Revolving card will become a charge card for you. Where this is not possible, the corresponding card is only a good choice for organized consumers.
How do I pay and withdraw money with a credit card?
When shopping online, you only enter your credit card information, ie name, card number, and expiration date. Moreover usually the CVC (Card Validation Code, CVC), which can be found on the back of the card. The CVC is designed to prevent online criminals from shopping with the card data they’ve fished out somewhere. If this code does not exist, the card is presumably not physically present.
When shopping on the spot, you must either sign the bill when paying or enter the PIN at the POS terminal. It depends on the dealer, but also on your card.
Which credit card company is the best?
Behind the credit cards are not only the selected banks but also credit card companies. They provide the infrastructure for payments and set rules of conduct for banks and traders. They usually have nothing to do with consumers. If you have problems with the card, always contact your bank.
What do credit cards cost?
Using your credit card may incur costs at various points.
Withdrawal Fee – The withdrawal fee may apply if you withdraw cash at ATMs or counters at home or abroad.
Foreign Currency Charge – This fee may apply to payments and withdrawals in currencies other than the Euro. It is usually calculated as a percentage of the amount due. It can also be a price allowance, it deteriorates, so to speak, the exchange rate.
Lending rates – If you repay the money spent on the card in installments, interest on the loan will be charged. Since these borrowing rates are expensive compared to other loans, you should only use this option in exceptional cases. For cards without this function, the credit line is partially available as a credit line.
Which credit cards are recommended?
Depending on the type of card, there are different credit card offers. We looked at different maps and picked out the best offers. The detailed guides provide more detailed information about each type of credit card:
The best free credit cards
The best offers do not require an annual fee and only low fees in payment transactions or at the ATM. However, you usually have to do without additional services. The free credit card is our favorite for basic equipment.