Many people would notice that if we have little credit scores, it’s always very difficult for us to apply for a regular credit card, let alone to apply for a credit card with premium service. However, there are usually two types of situations for those we have little credit scores: (1) No Credit, (2) Bad Credit. In general, a bad credit is much more serious than a no credit.

No Credit means you don’t have any credit history. In other words, you do not have anything on your credit report at all, and you have not borrowed money in the past seven years. This situation often takes place when the applicant is a student or a young individual. If you are in college, it’s likely that you do not have any credit history unless you have taken out student loans. Lots of credit card issuers have a hard time working with people with no credit history, since they do not know whether they will pay for their bills on time. Nevertheless, if you demonstrate that although you have no credit history for some understandable reasons such as you are a college student, you have reliable income or you have reliable family support, you can still get a credit card easily.

However, when you have a bad credit history, things become complicated. Bad credit means you have late or partial payments on your credit report, and you may have loans that you completely defaulted on. If you missed your credit card payments for several times or for over three months, you would have a bad credit. Bad credit can show up on your credit report for at least seven years, if you continue not paying your payments. Bad credit could lower your credit score as well. The only way to save a bad credit is to make payments on time and repay the previous loans. For those who have a bad credit, nearly no banks would offer them a new line of credit card unless they make repayments on time again. Besides, they might face a higher interest rate when they borrow money.

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