Can't Get A Credit Card? Here Are 6 Other Options
Not having money on hand can be a hassle when you need it the most. Credit cards may come in clutch in such situations, but if you've had the jarring experience of having your application rejected, you may be looking for alternatives. If you can't get a credit card, there are plenty of options you can explore instead.
If you can't get a credit card, borrowing money becomes attainable with options like debit cards, prepaid debit, basic current accounts, PayPal, bank overdrafts, and personal loans.
Six Options For Individuals Who Don't Qualify For A Credit Card
1. Debit Cards
A debit card might be the best option if you want to avoid building up credit card debt while enjoying the convenience of going cashless.
Since debit cards are usually tied to your checking account, there is a built-in safety net to ensure you don't overspend since you can only use your current money. It also has the added convenience of being widely accepted at various physical and online retail stores.
2. Prepaid Debit
Prepaid debit is a good alternative if you can't get a credit card. The balance available is totally up to your discretion since you are the one who preloads it with a set amount of money.
Like regular debit cards, you enjoy the advantage of better budgeting since you can't spend more than you have on your card!
However, they don't significantly improve your credit score and can sometimes be costly, due to reloading fees, so be cautious of these drawbacks.
3. Basic Checking Account
A basic checking account offers fewer bells and whistles than a standard checking account, ensuring you pick up less debt. Standard checking accounts offer an overdraft facility, which could tempt you into spending more than you can afford to pay back within a reasonable time. This is where a basic checking account comes in handy—it doesn't offer an overdraft facility, keeping you well within budget.
4. PayPal
Third-party payment options like PayPal are a great alternative to a traditional credit card. You can pay from your account without the hassle of providing your personal information at every online retail store. It even lets you transfer funds and issue invoices! It also offers a layer of security and protection against fraudulent vendors.
Their latest service offering, a PayPal debit card, is certainly a bonus, especially considering the 1% cash back offer whenever you buy anything.
5. Bank Overdraft
If you don't have an overspending problem and need cash in a pinch, depending on how good your relationship with your bank has been, you'll be able to use your bank's overdraft facility. Apply for an overdraft as an extension of your bank account.
Your bank and its policies determine whether you incur an overdraft fee and how much money you can withdraw from an overdraft, so make sure to look into these!
6. Personal Loan
Is your car acting up? Is your roof starting to fall apart? These are the kinds of expenses that can get you even more frustrated when you can't get a credit card. Don't worry—for situations like these, taking out a personal loan is one way to finance urgent but relatively small expenses.
Ideally, you'd consider the terms your bank offers for a personal loan according to your circumstances. You should also consider your payment plan.
How Wisconsin Auto Title Loans, Inc. Can Help
Another surefire way to procure some much-needed money could be to opt for title loans at Wisconsin Auto Title Loans, Inc. Wondering what a title loan is? Simply put, it's a short-term loan obtained using your vehicle's title as collateral.
With Wisconsin Auto Title Loans, Inc., you can get up to $1,500 in as little as 30 minutes!
You don't have to worry about visiting any physical store if you don't want to, our representatives will come to you. Good, bad, or no credit is still considered – we welcome all credit here!
What Do You Need For A Title Loan?
- Driver's license or state-issued I.D.
- Lien-free title to your vehicle
- Your vehicle for inspection
What Is The Title Loan Process In Missouri?
The step-by-step process of taking out title loans with us is as follows:
- Please fill out our online inquiry form available on this website
- Wait for a loan representative to reach out to you via phone
- Keep the required documents on hand when meeting our representative
- After some essential paperwork and authorization, you'll receive your money either the day or the following business day.
Get Your Title Loan Today!
Sometimes, qualifying for a credit card can be difficult. If you can't get a credit card and all other options seem too tricky to explore, opting for title loans is an excellent way to get the funds you need, so put in your online inquiry today and get started right away!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.