How do you get credit without a credit score? If you’re new to credit, you don’t have any history for lenders to assess. You’re effectively “credit invisible.”
You can build credit with a secured credit card that reports activity to the credit reporting agencies, but you’ll need to put up a security deposit and are likely to have low credit limits in the $300-$500 range. Your annual percentage rate (APR) is likely to be nearer the 29.99% limit until you build a sufficient credit history to qualify for a card upgrade.
The Petal card is a new alternative that allows you to use your existing financial records to prove creditworthiness. Petal develops their own credit score fo…