With the global economy in a slump, more and more people are unemployed. It is almost impossible for fresh graduates to get a decent job. If you have don’t have a job, it is hardly possible for you to get credit to tide you over until you finally land some work. In reality, you can actually procure a line of credit or a credit card easily without having a job or a decent credit history. There are various ways to do so and it’s easy.
- Secured and prepaid credit cards. One of the most popular credit cards is the prepaid or secured credit card. Many companies offer this type of credit card. Even mobile phone companies provide these services as well. A secured or prepaid credit card is a card that has a fixed and limited amount you can spend on it based on the money you have deposited to the account. If you look at the definition of a credit card, a prepaid or secured card is definitely not a credit card. You may consider this as some sort of debit card where money is deducted from your account every time you use the card. Nevertheless, it is still a credit card and it may be even a better option since you will be spending money that you actually have instead of credit where interests can accrue.
- Cosigned credit cards. If you are really desperate to have a credit card, you can find someone that is employed with a decent credit history to be the guarantor and cosignatory of the credit card. The credit card company will look to this person as the insurance in the case you are not able to pay for your purchases. Make sure to select someone with a good credit standing and a stable job. The higher his salary, the higher the credit limit. Choose a family member or close friend.
- Your personal bank. If you have some money in the bank and have been a loyal customer for years maintaining a good standing and financial history with them, then it might be worthwhile to check with them if you qualify for a credit card for them. Even without a job or good credit history, a bank may provide a credit card to you based on your history with them. If you consistently maintain a particular account balance, the bank will consider this as security for the risks of giving you credit.
- Proof of income. If you do not have a regular job and do a lot of freelance work and projects, get yourself proof of your income. Show the proof of your income to the credit card company and assure them that you can make the necessary payments in cases that you end up using the credit card. Tax records, PayPal statements, and other statements of income are some of the documents you can show as proof.
Even without a job and good credit rating, there are many ways to obtain a credit card for yourself. If all these methods do not work, you can convince your father or mother to give you a credit card extension of their own personal credit card. Just remember to pray to the Gods that they are crazy enough to agree.