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Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. gives newcomers to credit a powerful incentive to develop responsible habits. Researcher. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. NerdWallet strives to keep its information accurate and up to date. This may influence which products we write about and where and how the product appears on a page. There are plenty of cards to choose from, so check out WalletHubs editors picks for the best credit cards for fair credit to find the best one for you. Best Credit Cards for Fair/Average Credit Capital One Platinum Credit Card - Best for building credit Mission Lane Cash Back Visa Credit Card - Best for building credit + earning rewards Capital One QuicksilverOne Cash Rewards Credit Card - Best for flat-rate rewards Capital One Walmart Rewards Mastercard - Best for Walmart purchases Terms apply, Monitor your credit score with CreditWise from Capital One. doesn't offer rewards, as several other cards in the fair-credit category do, but for those looking to strengthen their credit, it's a simple, solid. If eligible, we'll create your Cash Score instead. The annual fee is. isn't going to wow anyone; there's no sign-up bonus and the APR is high. FULL LIST OF EDITORIAL PICKS: Plus, earn unlimited 1% cash back on all other purchases automatically. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. And if you already have a long-serving credit account. But there's still value to be had from fair-credit credit cards, and you dont have to stay in this particular creditworthiness tier for long. The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any issuer. Youll want pay your bill in full each month to avoid paying interest, which can get expensive and will eat into any rewards your card might earn. Before applying, confirm details on the issuers website. If youre more than 30 days late, it can start to affect your credit scores. (If you go through with applying, then there's a hard check.) Pay with your phone or device by using Apple Pay or Google Pay. . Earn 1% cash back on all your purchases. Generally speaking, a FICO score that's considered "fair" will fall between . You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another. We're sorry, but after searching our extensive database, we were unable to locate any credit cards that match the following criteria: {{tag.tag}}{{$last ? '' The card issuer reports details about your account to the major credit bureaus, which compile the credit reports that form the basis of your credit scores. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. Capital One QuicksilverOne Cash Rewards Credit Card, Petal 1 "No Annual Fee" Visa Credit Card, Best for Cash back earned with select merchants, on Discover's website, or call 800-347-0264, Best for College students and young adults, Best for Prequalification + up to 1.5% cash back, Best for Help for 'less than perfect credit', Upgrade Bitcoin Rewards Visa Credit Card. The card issuer reports details about your account to the major. Well give you a personalized card recommendation based on your latest credit score and financial priorities. Secured credit cards (those requiring a refundable security deposit) are meant for people with bad credit or no credit. Credit One Bank Platinum Visa for Rebuilding Credit, Capital One Quicksilver Secured Cash Rewards Credit Card, Bank of America Travel Rewards Credit Card for Students. 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months. offers those with average credit a chance to both earn rewards and, potentially, gain access to a higher credit line. The Mission Lane Cash Back Visa Credit Card is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. 7 Best Credit Cards for a 600 Credit Score (With Approval Odds) - AllCards.com We value your privacy We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. This content is not provided or commissioned by any issuer. Credit . Therefore, you typically dont have to worry about a hard pull on your credit report. People with fair credit are riskier applicants; and because of this higher risk, you might receive a credit card with a lower limit. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. A hallmark of cards for fair credit is high interest rates. Petal's mobile app makes it easy to manage your money, track your spending, and automate payments. Make at least the minimum payment, and do so on time each month. For example, you might need to consider one-time fees for application processing or transferring a balance, depending on what type of card youre looking for and how you plan to use it. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) (You can see and track your score for free through NerdWallet.) Conversely, a higher score that one issuer still sees as fair credit might qualify as good credit to a different issuer. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. No annual fee and build your credit with responsible use. A single "hard pull" can cause a temporary dip in your scores, but if you're continually applying for the wrong cards and being rejected, the damage can be much worse. If you like what you see, you can apply, at which point there will be a "hard" credit pull. Our pick for: Rewards for college students. OpenSky Secured Visa Credit Card. 2. You also get a free FICO score, low fees, and forgiveness for your first late payment. Terms apply.) Please let us know if you notice any differences. But you can achieve that effect with a collection of cards that each excel in a particular area. Do any issuers have a particularly good/bad reputation for offering decent fair-credit credit cards. The top features: Earn 1% . a standout for students searching for their first credit card. Paul Soucy Feb 27, 2023. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. Discover it Student Cash Back: Best feature: Student rewards. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. Journey Student Rewards from Capital One. In this case, we have chosen five of the best credit cards for fair credit so that you will be able to choose the correct card for your personal finances. When you pay in full, you don't get. The fee is $0 intro with auto pay, then $39 after first year. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). 'Review' : 'Reviews'}}, . 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. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. But there are unsecured cards for every credit level, including bad credit. If you feel you have a case, you can contact the issuer and. WalletHub may share your information with third-parties in order to show personalized offers, as well as enable you to interact more easily with pre-fill forms or applications. However, this does not influence our evaluations. The Prosper Card 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. . - Business Insider (United States) . offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. The best travel cards for fair credit, according to a YouTuber who's been to 20 countries and has 20 credit cards Select looks at what travel credit cards are available to people with. Recent credit applications. MORE: 11 things you should know before getting your first credit card. Bear in mind that not all lenders define fair credit the same way. If youre more than 30 days late, it can start to affect your credit scores. Platinum Credit Card from Capital One (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. At that point, youll probably have a good sense of why you were rejected. 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. If you are charged interest, the charge will be no less than $0.50. The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) One the VantageScore scale developed by the credit bureaus, the average score in 2022 was 698. You can be automatically considered for a higher credit limit in as little as six months. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. Best Unsecured Credit Cards of March 2023. This reporting affects key elements of your scores: Payment history. The. 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. . Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. 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. Alternatives to Consider:The Petal 2 Visa Credit Card, the Capital One QuicksilverOne Cash Rewards Credit Card and the Upgrade Cash Rewards Visa are worth comparing. 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. If you plan to travel internationally, make sure you have a backup plan. And there's no annual fee, late fees or foreign transaction fees. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) Whether your finances arent so great or theyre right on track, you should be able to find a Discover card that works for you. You can check out the panels bios and responses below. Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. It also earns up to 10% cash back when you use the card to make purchases with select merchants. 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. These companies collect the information used to calculate your credit scores. $39. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. At that point, youll probably have a good sense of why you were rejected. If your credit is at least fair, you can find cards that charge no annual fee at all. Our opinions are our own. Rejection stings, but you can learn from it. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. 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. Some even give rewards of 1% or more. The Prosper Card has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. 11 things you should know before getting your first credit card, How to choose a credit card for fair credit. 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. Therefore, you typically dont have to worry about a hard pull on your credit report. Both can make it easy and convenient to make purchases in stores or online, with one key difference. Lets take a look at Discovers offers and what score you need to get approved. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. Terms apply.) You want your scores to go up, not down. That's pretty good for a student card. INTRO OFFER: Unlimited Cashback Match only from Discover. The issuer automatically reviews your account for potential credit line increases. 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. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. What to avoid with credit cards for fair credit. Make sure the card youre considering reports to at least one but ideally all three of these companies. 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. If you feel you have a case, you can contact the issuer and ask for reconsideration. Like Upgrade's other cards, it works like a combination of a credit card and a personal loan, allowing you to make purchases and then pay down your balance in equal monthly installments at a fixed interest rate. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. . Some rewards-earning options are listed above. Navy Federal Credit Union Platinum Credit Card *. . So you could turn $50 cash back into $100. credit score $0 Annual fee Up to 4% Cash back Get $25.00 Welcome offer Info Pros & Cons Details You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. It earns 1.5% back in the form of Bitcoin when you pay your bill. 1. This ensures that your on-time payments and other responsible credit habits will be recorded. The second-largest factor in your scores. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Terms and conditions apply. A fair credit score is usually defined as any score in the range of 640-699. Answer provided by user: Milvionne Chery Copeland, JD, LL.M., MBA, Director of Accountancy, Assistant Chair of Accountancy and Law and Assistant Professor of Accountancy and Law, School of Business, Eastern Illinois University, Ph.D., Assistant Professor of Finance, College of Business, University of Colorado Colorado Springs, CFP(R), ChFC(R), AIF(R), Lecturer, David Nazarian College of Business and Economics, California State University, Northridge, Assistant Professor of Finance, University of Alabama in Huntsville, Distinguished Professor of Finance, Goldyne and Irwin Hearsh Chair in Money and Banking, University of California, Los Angeles Anderson School of Management, Ph.D., Assistant Professor of Economics, Department of Finance and Economics, Wall College of Business Administration, Coastal Carolina University, Our picks for the best credit cards for fair credit in 2023, Tips for finding the best credit cards for fair credit, How we picked the best credit cards for fair credit, First Progress Platinum Elite Mastercard Secured Credit Card, check your latest credit score for free on WalletHub, checking your latest credit score for free on WalletHub, Credit Cards for Fair Credit with Instant Approval, High Limit Credit Cards for Average Credit, Credit Cards for Fair Credit with No Deposit, Do Not Sell or Share My Personal Information, Qualify with limited or no credit history, Available to people with bad credit, even after bankruptcy, Available to people with limited or fair credit. Review that notice, then review your credit report to make sure there are no inaccuracies, and then do the same for the card application you submitted. If you've already built good credit, you can probably score a card with higher rewards than this card offers. Find & compare credit cards from Mastercard that offer a higher chance of approval for people with average credit. But we recommend a score of at least 700, which is toward the top of the good credit range, for the cards that require 700 credit for approval. The prequalification process allows you to check your offer without any effect on your credit score. If possible, pay off your balance in full each month. You can also borrow against your credit limit, much like a personal loan. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. Credit scores can fluctuate by 100 points in a single month, so graduating to a higher credit level doesnt have to take too long. Whether you want to pay less interest or earn more rewards, the right card's out there. And on top of all that, it earns cash back, too. With that being said, its not just your credit score you should worry about. To help people with no credit or bad credit maximize their odds of approval for a credit card, WalletHubs editors compared the approval requirements for more than 1,500 credit card offers, along with their fees, rates and rewards. It's an underserved market, so the list of such products is fairly short, and those that do exist lack the big sign-up bonuses you'd get with a card requiring excellent credit. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. . When evaluating offers, please review the financial institutions Terms and Conditions. You increase your odds of approval when you apply for a card. See what terms you'd qualify for without a hard credit inquiry. Cardholders' accounts are reviewed for a potential credit line increase every three months. Banks are required to notify you if you were denied because of information in your credit report. so the list of such products is fairly short, and those that do exist lack the big sign-up bonuses you'd get with a card requiring excellent credit. Discover it Student chrome: Best feature: Rewards for students. The Capital One QuicksilverOne Cash Rewards Credit Card is one of the best credit cards for people with fair credit who plan to charge a fair amount to their new card. Theres a 0% foreign transaction fee, too. The issuer's prequalification process lets you see the offer you're eligible for which could be up to 1.5% cash back before you actually apply. And the card doesn't charge foreign transaction fees. Read our review. Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. And if you already have a long-serving credit account, keep it open and active. Best unsecured cards for short credit histories. It only has a $39 annual fee and gives you at least 1.5% cash back on every purchase. Still not sure which credit card is best for building 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. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. , which compile the credit reports that form the basis of your credit scores. 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. Another good unsecured card for fair credit is the Petal 2 Visa Credit Card. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. Standard message rates apply. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. What We Dont Like:This card does not offer rewards or a low interest rate. Low or no fees: An annual fee can make sense if the card offers enough rewards and benefits to outstrip the cost of carrying it. What are some low interest credit cards for fair credit? The Capital One QuicksilverOne Cash Rewards Credit Card, for example, charges an annual fee of $39. earns rewards on par with cards for good or excellent credit. What We Dont Like:This card is not a good option for carrying a balance from month to month, thanks to a fairly high APR. And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. 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. If you do make a late payment, the card doesn't impose a penalty APR. Why We Like It:There is no credit check when you apply, so a rocky credit history wont prevent you from getting approved. Many or all of the products featured here are from our partners who compensate us. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. Furthermore, fair credit is far from a life sentence. Compare these deals from our partners to find one that fits your needs. This ensures that your on-time payments and other responsible credit habits will be recorded. Theres also no annual fee and no foreign transaction fee. You can then choose up to four cards and get a side-by-side comparison to make the best pick for your needs to get a credit card with fair credit. 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. An eventual upgrade path: Ideally, you wont be stuck in the fair credit score range forever, so look for a card that offers a route to improved terms. These cards can help you if you're just starting out with credit or are working to get back on track. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. See if you're approved in seconds, Help build your credit through responsible use of a card like this, Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app, Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you. Or you can plan to request a. from your issuer on your own eventually. There are no rewards. 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. . It's free for everyone, Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. 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. Roughly 13.5% of people have fair credit, according to WalletHub data. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. No touch payments with contactless technology built in. 1. Or turn $100 into $200. WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. Your web browser (Internet Explorer) is out of date and no longer supported. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . Fair 600-699. The best credit cards for fair credit are ones that you may qualify for with a FICO score of 580 to 689. Factors in our evaluation include annual and other fees, interest rates, whether a card offers upgrade options, the availability of free credit scores and other credit education and tools, reporting to credit bureaus, and other noteworthy features such as a rewards program. Alternatives to Consider:There are several really good credit cards for students available right now. If you're looking to beef up your credit, it's a decent place to start. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. There's also Discover's signature bonus for new cardholders. 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. Its worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. 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. 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. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Credit Score Requirements: Poor 500-599. And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. It works like a combination of a credit card and a personal loan, allowing you to make purchases and then pay down your balance in equal monthly installments at a fixed interest rate.