Although the credit history is the main requirement for the approval of a credit card, it is possible to acquire it with a different modality from the traditional ones ; However, keep in mind that paying for your phone or TV service correctly can help you achieve a good financial record.
If you have doubts, there are sites where you can check your credit history online easily and safely. It also allows you to see what conditions they are in or what aspects it includes.
Credit cards for students
This type of financial instrument is easy to approve, as well as being an excellent tool to start your credit history ; In principle it is aimed at young university students who are over 18 years old, they also have characteristics that differentiate them from the traditional ones.
Among the differences is that they have a low credit limit, which can range from 1,000 to 9,000 Euros; Likewise, the interest rate is lower, since because it is intended for students it is possible that they do not have a fixed income and for the bank those under 21 years of age the plastic will be free.
To acquire this financial instrument, you only have to meet two requirements, the first will be to live in Spain and the second to be of legal age; being in part the same requirements that you need to obtain a traditional credit card .
In this sense, they can be physical or digital and are called prepaid, because you must recharge them before they are used; On the other hand, they are not associated with your bank account, they are safe and they are also a financial instrument that does not require approval, so it is an excellent option if you do not have a credit history.
Store or non-bank card
These types of cards are very useful and practical to obtain if you are a frequent customer of a department store , franchise or department store, and they may offer it themselves; basically you are going to have a financial product where you can buy and pay in installments.
While it is true it is possible that they ask you for information on your credit history in order to evaluate your records; However, being a frequent customer, one option will be to be granted a credit card with a low limit, which as you pay correctly, they can increase it.
It is relevant to mention that having a non-bank card has many advantages; And not just for the fact of being able to get a credit history. You can also purchase your goods or products with a low interest rate , which implies significant savings in your monthly expenses.
Credit history and how to create it
It is essential that you start building your credit history no matter how young you are or whether you are arriving in the country as an immigrant; For this reason, you can start by hiring a telephone line service that you must pay on time; avoiding being cut, since the main intention is to show that you are a responsible and stable person.
Finally, remember that if you have a credit card, even if it has a low limit, it is necessary that you pay as established by the bank; Because this will be essential to create your credit bureau and even manage to modify it , so that you can request financing of any kind.