A credit score in or above the recommended range means you have a higher chance of approval, but doesnt guarantee it. Lets take a look at Discovers offers and what score you need to get approved. Best credit cards for fair credit Capital One QuickSilverOne Cash Rewards credit card Discover it Cash Back Petal 2 "Cash Back, No Fees" Visa Credit Card Credit One Bank Platinum Rewards Visa Credit One Bank American Express Card Chase Freedom Flex Summary table of the best credit cards for fair credit FAQs And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. Making this decision early will help make your search more manageable, by cutting your options in half, in addition to helping you get better terms. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. . What one issuer might see as a score on the low end of the fair credit range, another might consider bad credit. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. The overall goal in comparing credit card offers for fair credit is to find the card that will maximize your savings, and WalletHub's selections were made with that in mind. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Best Unsecured Credit Cards for Fair Credit of March 2023 NerdWallet's Credit Cards team selects the best credit cards for fair or average credit based on overall value, as evidenced by star ratings, as well as suitability for specific kinds of consumers. $0. 1. The Petal 2 Visa Credit Card, issued by WebBank, is the best high-limit credit card for individuals with average, fair, or limited credit -- typically a credit score between 580 and 669. Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any issuer. A fair credit score is usually defined as any score in the range of 640-699. MORE: 11 things you should know before getting your first credit card. Yes, you can get a credit card if you have fair credit. $0 annual fee, $0 activation fees, $0 foreign transaction fees. isn't going to wow anyone; there's no sign-up bonus and the APR is high. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. The best credit cards for fair credit are ones that you may qualify for with a FICO score of 580 to 689. Who Should Get It:Apply for Capital One QuicksilverOne if you plan to spend about $2,600 per year, as thats where the cards rewards value can overcome the fixed cost. There's also Discover's signature bonus for new cardholders. Capital One Platinum Credit Card FAIR CREDIT RATING . Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Customize Reject All Accept All Customize Consent Preferences You can also borrow against your credit limit, much like a personal loan. Terms apply; Doing so also avoids costly late fees. If youre rejected for a credit card, the first thing to do is determine why. But you should be careful with deferred interest deals if you dont pay the full amount by the time the deferred interest period is over, youll owe your balance plus all the interest you would have accrued since you made the purchase. No interest on purchases when you pay in full and on time each month. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. Mobile app to access your account anytime, anywhere. If you do make a late payment, the card doesn't impose a penalty APR. a standout for students searching for their first credit card. If you can find a card that pays rewards while also providing a steppingstone from average credit to good or excellent credit, its a win-win. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. For rewards cards, that means applying each cards earnings rates to your actual spending habits in order to determine how much youre likely to earn over your expected usage timeframe. The Petal 1 "No Annual Fee" Visa Credit Card is a worthy contender for your wallet as you continue building credit. And on top of all that, it earns cash back, too. The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Can I get a credit card if my credit is fair? That's pretty good for a student card. Length of credit history. For 0% cards, it means seeing what monthly debt payments you can comfortably afford to make, how large of a balance you will therefore have remaining at the end of each cards 0% intro term, and what interest charges you would incur thereafter. Who Should Get It:Apply for the Brex Corporate Card for Startups if youre a small business owner with limited to fair credit who wants to earn rewards on everyday purchases. Best for earning cash back with fair credit Capital One QuicksilverOne Cash Rewards Credit Card Apply Now On Capital One's Website 2.3 Up to 5% Reward Rate Earn unlimited 1.5% cash back. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Terms apply, Monitor your credit score with CreditWise from Capital One. Terms and conditions apply. You increase your odds of approval when you apply for a card tailored for your score range. Best travel credit cards for people with bad or fair credit . What is the average credit score in the U.S.? You earn 2% cash back at restaurants and gas stations, on up to $1,000 in combined purchases per quarter, and 1% cash back on all other purchases. The 1.5% rewards rate is on par with that offered by many cards for good or excellent credit. Plus, Discover says there's no FICO history requirement for this card. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. Best credit card overall for fair credit Petal 2 "Cash Back, No Fees" Visa Credit Card 9.5/10 CNET Rating Card Highlights Intro Offer N/A APR 17.49% - 31.49% (Variable) Intro. Credit Cards for Fair Credit: Ultimate Guide | Credit.com See if you're pre-approved within minutes without impacting your credit score. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. Platinum Credit Card from Capital One Using multiple credit cards for the wrong reasons, however, can get you into big trouble. There are no rewards. Pay on time to boost your cash back to a total of 1.25% for that month, Enjoy no annual fee, foreign transaction fees, or hidden fees, Lock your card in the Capital One Mobile app if it's misplaced, lost or stolen, Earn up to $500 a year by referring friends and family when they're approved for a Capital One credit card, Pick the monthly due date that works best for you, Pay for Amazon.com purchases using your Capital One rewards, Pay for online purchases with virtual card numbers and keep your actual card number to yourself, Get notified via text, email, and phone if Capital One notices potential suspicious transactions on your account, Build your credit with responsible card use. Promotion runs from March 1, 2023 to March 31, 2023. Foreign transaction fee: 1% of the transaction amount. What makes this card valuable is that it's available to business operators with fair credit (a FICO score between 630-689), who don't have a lot of options in business credit cards and it has no annual fee. If possible, pay off your balance in full each month. Credit cards for fair or average credit can help you move up to good or excellent credit when you use them responsibly. What are the best unsecured credit cards for fair credit? With the Capital One QuicksilverOne Cash Rewards Credit Card, youll have the potential to gain access to a higher credit line. This card for people with fair or "average" credit pays the same cash-back rate as the regular Quicksilver card, which targets people with excellent credit. And there's no annual fee, late fees or foreign transaction fees. No single credit card has the best rewards and the best rates, which means you shouldnt try to use one for both everyday purchases and carrying a balance. The card also lets you see what terms you'd qualify for before officially applying. The issuer automatically reviews your account for potential credit line increases. Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Best Credit Cards for Fair/Average Credit of 2023 | CreditCards.com Just answer a few questions and we'll narrow the search for you. Or turn $100 into $200. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. Just a dollar-for-dollar match. Best Credit Cards for Fair Credit, 2022 - Joy Wallet And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Navy Federal Credit Union Platinum Credit Card *. Earn 1.5% unlimited cash back on card purchases every time you make a payment. Get pre-approved in seconds with no impact to your credit score. and cards for fair credit tend to have high interest rates. Best Credit Cards for Fair or Average Credit of March 2023 shines with its no-maintenance rewards structure and student-friendly bonus categories. At that point, youll probably have a good sense of why you were rejected. The fee is $0 intro with auto pay, then $39 after first year. We believe everyone should be able to make financial decisions with confidence. Paul Soucy Feb 27, 2023. Plus, people with fair credit should have high approval odds for the Capital One Platinum Card, since its a starter credit card available even to applicants with limited credit experience. Store credit cards can offer deferred interest to people with fair credit. show more To help you find the best deal, WalletHubs editors compared all of the credit cards for fair credit in our database of 1,500+ credit card offers. 10 Best Credit Cards for Fair Credit - Due Bankrate's experts compare hundreds of top credit cards and credit card offers to select the best in cash back, rewards, travel, business, 0% APR, balance transfer and more. When evaluating offers, please review the financial institutions Terms and Conditions. 6 Best Business Credit Cards for Fair Credit (2023) - WalletHub Pre-qualified offers are not binding. If your credit is at least fair, you can find cards that charge no annual fee at all. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. No annual fee and build your credit with responsible use. There are no rewards. If your credit score is in the average or fair range of 580 to 669, these credit cards are among the best and some even offer rewards and benefits. The best credit cards for people with fair credit scores of 640-699 come with $0 annual fees, rewards of at least 1% back on purchases and monthly credit-bureau reporting, making it easy to build credit and save money. While there are no universal dividing lines between credit score bands, you can generally think of "fair credit" aka "average credit" as having credit scores in the range of 630 to 689. Best for entry-level fair credit Mission Lane Visa Credit Card Apply now On Mission Lane's secure site Add to compare 3.4 Bankrate review Rewards Rate N/A Intro offer N/A Annual fee $0 -. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Once youve zeroed in on a credit card for fair or average credit, make sure you understand any fees it might charge: annual fees, balance transfer fees, foreign transaction fees, late-payment fees, etc. Credit utilization. Why dont more banks and credit unions offer credit cards to people with fair credit? Get Your Credit Life Started With These 5 Credit Cards 11 things you should know before getting your first credit card, How to choose a credit card for fair credit. Journey Student Rewards from Capital One. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. Banks are required to notify you if you were denied because of information in your credit report. What's the minimum credit score needed for Discover cards? Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. We encourage everyone to share their knowledge while respecting our, Answer provided by user: {{ans.user_fullname}}. Please let us know if you notice any differences. That's not an issue if you pay in full every month, but look elsewhere if you expect to carry debt from month to month. We encourage everyone to share their knowledge while respecting our content guidelines. That's because this entry-level card doesn't charge an annual fee or foreign transaction fees. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. One of the best unsecured credit cards for fair credit is Upgrade Cash Rewards Visa because it offers unlimited 1.5% cash back on all purchases (after you pay the bill) and a $0 annual fee. Who Should Get It:Apply for the OpenSky Secured Visa Credit Card if youre rebuilding from credit damage and want high approval odds. Capital One QuicksilverOne Cash Rewards Credit Card BEST OVERALL RATING 4.5 OVERALL RATING 4.5/5.0 Earn unlimited 1.5% cash back on every purchase, every day It typically means your credit scores fall in the range of 630-689 on a scale that runs from 300 to 850. Credit scores indicate your level of risk to potential lenders and are based on several factors, including your payment history, the amount of available credit that youre using, how long youve had credit, and more. If youre not sure how your credit is doing, you can check your latest credit score for free on WalletHub, the only site where credit scores and reports update daily. Its free, activate with the mobile app. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. The annual fee is. It typically means your credit scores fall in the range of 630-689 on a, Credit scores indicate your level of risk to potential lenders and are based on. The $0-annual-fee Upgrade Cash Rewards Visa can be an ideal choice if you plan to carry a balance, want the convenience of equal monthly debt repayments and can pre-qualify for a favorable interest rate. But they may still offer rewards. Although the name is a mouthful, this card is an excellent option for people with fair credit. There's an annual fee, although you can avoid it in the first year by signing up for autopay before your first statement is issued. But if you've got fair credit and you need a card you can use to build credit without paying an annual fee, it's definitely worth a look. Here's why: Capital One advertises that this card is intended for people with fair credit, which can help make the application process less stressful if you have less-than-perfect credit. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). 0.99% intro APR on balance transfers for 12 months, followed by a regular APR of 10.24% - 18.00% variable on both purchases and . The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. But if you've got fair credit and you need a card you can use to build credit without paying an annual fee, it's definitely worth a look. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. You can see and track your credit score for free through NerdWallet. NerdWallet's Credit Cards team selects the best credit cards for fair or average credit based on overall value, as evidenced by star ratings, as well as suitability for specific kinds of consumers. Recent credit applications. Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Capital One QuicksilverOne Cash Rewards Credit Card. Please download one of these up-to-date, free and excellent browsers: Enter your cell phone number and well send you a link to install the WalletHub app. This card requires a security deposit, which will . Comparing credit cards for fair credit can be tough. According toWalletHubs credit card experts, the best credit cards for fair credit usually have $0 annual fees and give at least 1% back in rewards. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, Best Credit Cards for Fair or Average Credit of March 2023. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. Heres the minimum credit score needed for each Discover card: There arent any Discover cards that flat-out require excellent credit, currently. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. Best Credit Cards for Fair Credit in February 2023 | LendingTree Best Balance Transfer Cards For Fair Credit Of March 2023 Best for cash back: Capital One QuicksilverOne Cash Rewards Credit Card. 10 Best Credit Cards for Fair Credit with High Limits . The key difference is that this version charges an annual fee while the regular one does not. But it also earns rewards, gives you a tool to monitor your credit profile, and offers the possibility of a higher credit line after making your first five monthly on-time payments. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. If you plan to travel internationally, make sure you have a backup plan. Before applying for a credit card, its important to know your credit score. So if you havent checked your credit score in a while, make sure to do so before applying. If you are charged interest, the charge will be no less than $0.50. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. There's a $39 annual fee. If you can find a card that pays rewards while also providing a steppingstone from average credit to good or excellent credit, its a win-win. You can be automatically considered for a higher credit limit in as little as six months. Top credit cards for fair credit in Canada Compare credit cards for fair credit by category Top regular rate cashback card: Neo Financial Mastercard Credit recommended (600-) Apply now on Neo Financial's secure site 600 Min. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. Alternatives to Consider:The Capital One Spark Classic for Business is a low-cost rewards card for business owners with limited credit. Fair 600-699. No annual fees, no foreign transactions fees. doesn't offer rewards, and it charges an annual fee, but the issuer goes out of its way to encourage people with "less than perfect credit" to apply. It's that simple, Be automatically considered for a higher credit line in as little as 6 months, Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges, Help strengthen your credit for the future with responsible card use, Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Let Bankrate, a leader . WalletHub experts track 1,500+ offers to help you get the right credit card for average credit, By John Kiernan, Credit Card Editor Feb 27, 2023, Fact Checked: Alina Comoreanu, Sr. Each card was scored using WalletHubs proprietary 100-point credit card rating system, and you can check out the top options in a handful of popular categories below (some cards are from WalletHub partners). 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. Who Should Get It:Apply for the Petal 2 Visa Card if you have limited to fair credit, plan to pay the bill on time and in full every month, and expect to keep the account open for more than a year. -annual-fee option with an incentive for responsible behavior. The. On top of that, the cards annual fee is $0. $39. Plus, the ongoing APR is on the high end at 29.74% Variable APR. The Upgrade Cash Rewards Visa earns rewards on par with cards for good or excellent credit. Numerous credit card applications in a short period of time can hurt your credit score, and having too many credit cards can lead to overspending, expensive interest charges, missed payments and credit score damage. It's important to note that definitions of credit score ranges can differ from one card issuer to the next. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. News Summary: If your credit score is in the average or fair range of 580 to 669, these credit cards are among the best and some even offer rewards and benefits. U.S. News' Best Credit Cards for Fair Credit of 2022 | U.S. News Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. So pay your bill on time every month, dont max out your spending limit and track your credit scores progress over time to see when youre ready for an upgrade. Capital One QuicksilverOne Cash Rewards Credit Card. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases.