By OneCard | June 14, 2023
Credit cards can make routine transactions and purchases more convenient and beneficial. If used smartly, a credit card can help you earn terrific discounts, rewards, and cashback. Aspiring credit card owners need to provide proof of their income to be eligible for most credit cards out there. But what if you don’t have a stable stream of income to get a credit card? To the folks out there looking for a credit card without income proof, you have options. For starters, you can get a OneCard Credit Card just the same. There are means to receive a credit card without income proof, ranging from secured credit cards against set deposits to student credit cards or joint credit cards.
We're here to help you get a good credit card that fits your needs, even without requiring income proof. Let's get started!
Getting a credit card can be tricky if you don't have regular income to show for. Yet, you can sidestep this stumbling block and get a credit card. Here’s what you need to keep in mind to start with.
Be sure you understand the card's terms and limitations. Look for hidden fees, interest rates, and other expenditures that may contribute to hefty charges.
Select a well-reviewed and reputed credit card company when applying for a no or low-income credit card. Look for online reviews and comments from other customers, and look out for the user experience and customer care services in particular.
At the end of it all, if you can't get a credit card, look towards prepaid debit cards or secured credit cards like OneCard Credit Card with a Fixed Deposit.
You can get a credit card even if you don’t have an income or salary yet. There are numerous solutions for applicants who do not have proof of income. Some companies do offer cards to those with little or no credit history. You may have to make a greater deposit or accept a lower credit limit, but using the card properly may gradually improve your credit score. The solution is getting a card you qualify for and maintaining a strong record so that your credit score can build over time.
Secured cards that use your savings as collateral are a perfect solution against the proof of income problem. Pledge a fixed deposit (FD) as backing, and your credit card company will give you a limit based on that amount. Apply for your secured card today and start building your credit score without an income proof. Your card will get you much the same perks and benefits as any other regular credit card.
Some credit card companies offer cards to students as well. These student cards usually have lower limits and require you to put down some collateral, like savings. They charge little or no fees but place more limits on using the card. It's a decent way for folks still studying to start building credit scores, as long as you use the card wisely. The annual fees may be a big zero, but spending restrictions may imply. Your parents or guardian, who may be using a credit card, can help you get a card without income proof on their assurance.
Show the credit card company that you can repay the charges. This means that you maintain a healthy bank balance as several credit card companies consider a good credit-to-debt ratio, and a sufficient balance can reflect financial adequacy.
If your family members hold a credit card, ask if they'll add you as an extra cardholder. However, the primary cardholder must have a good credit history and proof of income. Add-on cards provide the same benefits as the primary card.
Additional Read:- Times When You Should Reach Out For Credit Cards
Selecting the right kind of credit card or collateral makes it possible to apply for a credit card without income proof. Some options include secured credit cards against fixed deposits, student credit cards, add-on cards, or displaying an account with a sufficient balance. Ready to apply for a credit card without income proof? Apply for a OneCard secured credit card and unlock endless perks and rewards.
**Disclaimer: The information provided in this webpage does not, and is not intended to, constitute any kind of advice; instead, all the information available here is for general informational purposes only. FPL Technologies Private Limited and the author shall not be responsible for any direct/indirect/damages/loss incurred by the reader for making any decision based on the contents and information. Please consult your advisor before making any decision.