How to Get a Credit Card Without a Bank Account

woman holding a credit cardNot everyone has a bank account, and that’s fine in certain circumstances, but can create issues in others. For instance, you might assume that if you fall into this category, it will be impossible to acquire a credit card.

The reality is that there are ways to go about this, and some benefits to doing so as well. So let’s talk through the ins and outs of this topic, and let you know what to do next.

Why You Need a Credit Card Without a Bank Account

Without access to traditional banking services, getting a credit card can be difficult. But having one is essential for building and maintaining good financial habits.

A no-bank-account credit card provides the same benefits as regular cards, as it helps you build your credit score, gives you more purchasing power, and allows you to manage expenses outside of cash payments or debit transactions. Having a good credit score is particularly important, as it will make you eligible for other appealing finance products, such as a cash back card from SoFi.

In terms of the features of a no-bank-account credit card, there are no overdraft fees or minimum balance requirements to meet. Instead, all purchases must be paid off in full each month before incurring any interest charges. This makes them ideal for people who want to stay on top of their finances without relying on other forms of borrowing, like payday loans or personal lines of credits from banks.

How to Get an Unsecured Credit Card Without a Bank Account

Getting an unsecured credit card without a bank account is possible for most people, and can be done in four easy steps.

Firstly, research the different providers available on the market and choose one that best suits your needs.

Secondly, fill out the online application form with all relevant information such as name, address and annual income details.

Thirdly, wait for approval or rejection, which will come through within 24-48 hours of applying. If successful, you’ll then receive your card in mail shortly after that.

Finally, activate it by calling up customer service or logging into your provider’s website using unique credentials provided at the time of the purchase or approval stage. This marks the official usage start date for your brand new no-bank-account credit card!

Tips for Using Your New No-Bank-Account Credit Card Wisely

Putting your no-bank-account credit card to good use is key to getting the most out of it. Here are some tips:

  • Make sure you know what fees and interest rates apply to purchases so that you can maximize your savings. This information will be available on the provider’s website, or from customer service.
  • Pay off any balance each month in full before incurring any charges, as these cards do not offer financing options like regular credit cards do.
  • Track spending closely by using budgeting apps and online tools if needed, so you don’t overspend more than what’s available in your account balance.
  • Set up automatic payments when possible, so that bills get paid on time and not incur late fees or penalties due to forgetting a payment date here and there. This is obviously easier to do if you’ve also got a separate bank account. If not, perhaps ask a friend or family member to handle this for you.

Wrapping Up

As you can see, you can get a credit card without a bank account, but there are caveats to keep in mind. Realistically speaking, it’s better to have a bank account than not, so this should also be on your list of priorities for the near future.