Advice and ratings on credit cards with no credit OK can help you find the right credit card when you don't have established credit and can also offer advice for building your credit. If you're starting a new venture, you'll probably need credit to grow your business. Although many advisers recommend using only cash or savings to pay for business start-up costs, a credit card may be necessary when these sources are exhausted. It's best to check with your financial institution first to see if you can get a loan or line of credit before turning to credit cards.

It's not that difficult to find credit cards for those with no credit, but the process needs to be carried out carefully. Many credit cards that are geared for those with no credit have high interest rates and other features that could create a bad financial experience and turn no credit into bad credit. To make sure you choose the right no credit history credit card:

1. Check ratings of guaranteed approval credit cards;

2. Read reviews by other consumers and experts;

3. Get expert advice on applying for and managing credit.

Action Steps
The best contacts and resources to help you get it done

Check ratings for no credit check credit cards

Credit cards available to those with no credit are often a guaranteed credit card. No credit checks are run, which makes them appealing to people or businesses with little or poor credit. Check out a rating site to get an overview of these types of credit cards. Cards are either rated by other consumers or use systems based on interest rates and other factors.

I recommend: CardRatings rates cards for those seeking to establish credit. CreditCards offers ratings for credit cards for people and businesses with no credit history.

Read reviews of credit cards for people with no credit history

Read reviews once you have a good idea of what cards are available. Reviews provide more detailed information about individual credit cards, like interest rates, terms and exclusions.

I recommend: Bad Credit Resources offers reviews of cards geared toward people with little or bad credit. MSN Money Central provides a listing of credit cards that includes annual fees, interest rates and other information.

Get advice about applying for a credit card with no credit history

Remember that your first credit card will affect your credit rating and income far into the future. Expert advice will help you choose and manage your first credit cards. It can help you find alternatives and avoid financial mistakes.

I recommend: Bankrate provides news and advice on the credit card industry. The Motley Fool, Consumer Bad Credit Guide and Callcredit give advice on improving credit.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Remember to read the fine print on consumer or business credit cards. No credit check cards often come with high interest rates and restricting terms. A late payment can make the interest rate skyrocket.

You may have to jump through hoops, but securing credit cards with no credit is possible and may seem essential in running your small business. Since you're starting with no credit history, a business credit card that reports to credit reporting agencies is best to help you establish credit.

Offers for no credit check credit cards may be the easiest and fastest way to secure credit. Make sure you're obtaining the card for the right reasons and with the right intentions. Otherwise, your no credit status will quickly change to bad credit.

When choosing a credit card, keep the following information in mind:

1. Start with your personal banker to achieve a high credit line for no credit, as you'll more likely be approved.

2. When you're issued a credit card, no credit history will become a good credit history if you prove yourself a responsible card carrier.

3. While you may be able to secure credit cards for no credit, make sure to pay attention to the fine print regarding interest rates and fees if you can't pay off the balance each month or when a promotional period ends.

Action Steps
The best contacts and resources to help you get it done

Find credit cards for people with no credit history

Poor credit history or none at all doesn't seem to matter much. You can still get a credit card. The rates and the credit limit will vary from provider to provider. Some credit cards don't require a credit check and may even guarantee instant approval.

I recommend: CapitalOne cards rank highest on Credit Cards.com for those with no credit, along with Bank of America Secured Visa Platinum. CreditCardSpecialist.com also lists CapitalOne as the best option for those with no credit to start, with ways to help build credit at a reasonable interest rate.

Choose from guaranteed approval credit cards

For those with bad or no credit, obtaining an unsecured credit card is the easiest option, and applicants are usually instantly notified of approval, denial or if more information or time is needed to process the request.

I recommend: For options in unsecured credit cards, check out Bad Credit Resources. Guaranteed Approval Credit Cards 2008 offers several options for those looking for guaranteed approval and secure links to the official site to go ahead and apply.

Apply to see if you can secure a business credit card no credit OK

Business credit cards can be extremely helpful in daily financial management. Some cards even reward you, offering you cash back or other perks just for using the card. Your credit line might be low to begin and your rates won't be as favorable. That's because the company is taking a risk on you due to your lack of credit.

I recommend: At CreditCardGuide.com you can check out different business credit cards and even those cards that offer rewards such as airline miles and business supplies. Log on to CardOffers.com to compare and review features from several different business credit cards.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  With business credit cards, no credit history can mean less protection. By nature, business credit cards are not allotted the usual consumer protections, and you may be entitled to even less if you have no or bad credit.

"No credit ok" credit cards are credit cards that are designed to help the user establish a credit history with the major credit bureaus. Like many credit cards, there are associated key terms in relation to policies and usage that a user should be familiar with to maximize the benefits while minimizing costs.

Take the time to learn a few of the key terms associated with "no credit ok" credit cards so that your business can maximize the advantages. Here are a few of those terms along with some helpful links to help get you started.

Action Steps
The best contacts and resources to help you get it done

Pre-paid credit cards

Pre-paid credit cards are the most common form of 'no credit ok' credit cards. They require the owner of the card to place a credit to the account before charging anything. Any amount charged will be deducted from that credit. In that way, the user of the card is essentially paying ahead.

I recommend: Visit the website for Credit Card Assist for more information on pre-paid credit cards.

Direct deposit

Direct deposit, in terms of 'no credit ok' credit cards refers to a feature that allows the funds from a weekly, bi-weekly or monthly check to be credited to the card. This feature is used in 'pre-paid' credit cards.

I recommend: Visit the website for Secured Card Sign-up. A supplier of "no credit ok" credit card products, they provide a detailed explanation of their direct deposit feature.

Bill pay

Bill pay refers to a feature attached to many 'no credit ok' credit cards that allows the user to pay bills by logging into a website and sending checks from the credit card company to monthly bills that the user owes. The amount is then deducted from the pre-paid amount the user has posted to the card.

I recommend: Visit the website for Rush Card for additional information on "no credit ok" credit cards and how the bill pay option works.

Automatic minimum payment

The automatic minimum payment is a common feature attached to 'no credit ok' credit cards. Because a user is generally trying to build or repair their credit, an automatic minimum payment might be withdrawn each month from a checking account. This payment is then reported to the credit bureaus. Over time, these consistent payments will build or repair credit.

I recommend: Visit the website for I Businesses, a supplier of "no credit ok" credit cards. They detail how the automatic minimum payment system works.

International transaction fee

The international transaction fee refers to a fee that is charged to many 'no credit ok' credit cards if it is used outside of the United States or country of origin. These fees are assessed on each transaction.

I recommend: Visit the website for Face Card, a supplier of "no credit ok" credit cards, for additional information on the international transaction fee.

Credit availability

Credit availability refers to the amount of credit a user has to make purchases. However, on many pre-paid 'no credit ok' credit cards there are monthly or annual fees which are deducted from that amount. Take the time to learn about the fees associated with your card and how it affects the credit availability.

I recommend: Visit the website for Applied Bank for additional information on calculating the credit availability in relation to a pre-paid "no credit ok" credit card.

Qualifying for credit cards with no credit, also known as guaranteed approval credit cards, isn't as easy as it used to be thanks to tightening restrictions, yet it is not impossible. No credit check credit cards are worth considering if you are new to the United States or if you are a student with no employment history. These types of credit cards give you the opportunity to establish a solid credit history.

The credit card no credit option comes bundled with higher annual fees as well as higher annual percentage rates. Also, credit cards for people with no credit history may be subject to higher penalty fees and lower credit card limits. If you are looking to start your business off with a "business credit card: no credit OK" situation, or are seeking a high credit line with no credit for personal or business reasons, consider the following:

1. Compare annual fees charged for credit card with no credit history accounts.

2. Find out about penalty fees for customers with no credit check credit cards.

3. Understand the annual percentage rate before agreeing to any guaranteed approval credit cards.

Action Steps
The best contacts and resources to help you get it done

Build your credit history with prepaid no credit check credit cards

You can conduct credit card transactions with prepaid credit cards that carry the VISA and MasterCard logo while building your credit history. For a small monthly fee, these cards allow you to deposit funds into your account to use for purchasing items.

I recommend: Costing less than $4 monthly, the SilverCard Prepaid MasterCard from MetaBank is a no credit check card where you direct deposit cash directly into the account to use it while building your credit history. NetSpend's All-Access Prepaid Visa carries a per transaction fee plan that is limited to $16 per month.

Learn about no credit history credit card fees while you are getting a college education

Credit cards specifically designed for college students are a fabulous way to build credit while you are still in school. These cards generally have lower credit limits than cards for those with stronger credit histories.

I recommend: With Citibank's mtvU Platinum Select Visa card for college students, APRs may automatically increase from zero up to 29.99 percent variable if you default, and a minimum monthly finance charge of 50 cents is charged. Discover's card for college students comes with late and overlimit fees that vary based on the amount in question. Scroll down to the bottom of the page to see a statement of fees.

Understand the annual percentage rate before agreeing to any no credit history credit card accounts

Cards for those looking to rebuild or build their credit card history often have high annual percentage rates for either purchases or cash advances. The good news is that, once you have proved yourself and established a solid credit card history, you can qualify for cards with more attractive terms.

I recommend: Capital One's "Standard Platinum Credit Card for Young Adults" has an APR of zero percent for the first six months and then increases to a 22.7% variable thereafter. These cards claim to be ideal for students or for someone who is new to the country. The annual percentage rate for purchases with the First Premiere Bank Gold Card is just 9.9%, but is higher for cash advances.