Congress wants that it should be harder for the people under-21 to accumulate a mountain of credit card debt.

Credit card holders shall be affected by a new federal law and it will also affect people of all ages who want to have credit cards. But due to the reason that several provisions don’t take effect until February, so for many college students this could be the last semester of truly easy credit.

A recent survey that has been conducted by student loan manager Sallie Mae elaborates that the average amount of debt that is being carried by undergraduate cardholders is $3,173 which has increased up to 46% from five years ago. And the average number of credit cards that are being carried by these students is five.

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It is strange that people with no credit history are considered equal to people with bad credit when credit card companies weigh credit risk. It is obviously not fair, but it is the way things work in the complicated world of consumer finance. Lenders are reluctant about opening accounts for people with no credit history because they simply have nothing to base your reliability on.

So it is very clear that you can’t build a credit history without credit card. And it is a fact that you can’t get credit card without a credit history, just what should one do?

It’s nearly impossible to rent a car, stay in a hotel, or shop online without a credit card, so let’s explore a few of the options that can eliminate this strange situation and get you a credit card and a good credit history.

Available Credit Options

Although many of the major credit card companies won’t give you a card without a credit history, some smaller ones, like department stores, will.  Find a department store that will issue you a card and apply for it. You can try getting a gas station card also.  Either way, use your card but be sure to make all payments on time. Your goal is to build a good credit history, not just get a credit card.

Find a credit card company that will review your overall financial situation and not just your credit history. Some lenders will look at your employment history, your housing situation, and how often you have moved. If this is all on the up and up, they may approve your application. Again, use this card wisely.

• Credit Unions

If you are a credit union member, or are eligible for membership, see what their card issuing terms are. Although they are no giving out cards with their eyes closed, they will often have more relaxed conditions for members. You no longer have to work for a specific company to be eligible to join a credit union. So it’s well worth checking if there’s one in your area.

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