Compare these deals from our partners to find one that fits your needs. 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. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. You increase your odds of approval when you apply for a card. 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. Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. Alternatives to Consider:The Capital One Platinum Credit Card, the Capital One QuicksilverOne Cash Rewards Credit Card and the Upgrade Cash Rewards Visa are all great options. Petal's mobile app makes it easy to manage your money, track your spending, and automate payments. Banks are required to notify you if you were denied because of information in your credit report. - Business Insider - Fact Check and Transparency Report (United States) . But youve got the knowledgeable WalletHub community on your side. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. a standout for students searching for their first credit card. Mobile app to access your account anytime, anywhere. Credit Score Requirements: Poor 500-599. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. Be automatically considered for a higher credit line in as few as 7 months. Terms apply.) These cards can help you if you're just starting out with credit. Capital One QuicksilverOne Cash Rewards Credit Card. Virgin Atlantic Flying Club: Get a . Before applying for a credit card, its important to know your credit score. No annual or hidden fees. With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Whether you want to pay less interest or earn more rewards, the right card's out there. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. Best Low Interest Credit Cards for Fair Credit. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. NerdWallet's ratings are determined by our editorial team. What to know before applying for a credit card, , its important to know your credit score. . 7. $0 annual fee, $0 activation fees, $0 foreign transaction fees. Even though its promotional interest rate is . When you pay in full, you don't get. . If you still arent approved, it may be a sign you need to work on your credit scores before applying again. (If you go through with applying, then there's a hard check.) The average FICO credit score in the United States in 2022 was 716, according to the company that manages the FICO scoring model. When you have fair credit, getting the right credit card can be a key step to building a good or excellent credit score. Discover will automatically match all the cash back youve earned at the end of your first year! If you are charged interest, the charge will be no less than $0.50. And there's no annual fee, late fees or foreign transaction fees. Still not sure which credit card is best for building credit? You can be automatically considered for a higher credit limit in as little as six months. 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. We did not select any cards with especially low regular APRs because we recommend paying your monthly credit card bills in full when you have fair credit. The Brex Corporate Card for Startups is one of the best fair-credit credit cards for business. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. This ensures that your on-time payments and other responsible credit habits will be recorded. 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. 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. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. You can opt-out of sharing your personal info here. $0 intro with auto pay, then $39 after first year. Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. Youll also have the opportunity to earn some attractive initial bonuses. And if you already have a long-serving credit account, keep it open and active. Make sure the card youre considering reports to at least one but ideally all three of these companies. These companies collect the information used to calculate your credit scores. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. 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. 1. You increase your odds of approval when you apply for a card tailored for your score range. 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 If you feel you have a case, you can contact the issuer and ask for reconsideration. If possible, pay off your balance in full each month. Recent credit applications. , which is steep if you plan on carrying a balance. Using multiple credit cards for the wrong reasons, however, can get you into big trouble. Six months is a good rule of thumb. 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. NerdWallet's ratings are determined by our editorial team. What's the difference between fair and average credit? Prosper also doesn't have other cards to upgrade to once your credit improves, so you either have to keep paying the fee or close the card. That will help cardholders build positive credit history, as long as they manage the account responsibly. Does each credit card company define "fair" credit the same way? Pre-qualified offers are not binding. So its a great way to save money as you build credit, which should be your top priority until you have a good credit score. Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. We believe everyone should be able to make financial decisions with confidence. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. keeps you in debt longer and could ultimately drag down your credit scores. Platinum Credit Card from Capital One Cardholders' accounts are reviewed for a potential credit line increase every three months. And on top of all that, it earns cash back, too. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. This card earns rewards in the form of Bitcoin when you pay your bill (although you are subject to holding requirements and transaction fees when you sell your crypto). What are the most important things to look for in a fair-credit credit card? You don't have to be a student to apply for the. You might be able to get a better card than you think. But you need at least good credit for all the other offers, including Discover it Miles and Discover it Cash Back, two of the most popular options. And thats great news, considering the best credit card deals require good or excellent credit for approval. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. , making it a good option for someone with average credit. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. 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. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. Paying in full every month also helps keep utilization in check. The fee is $0 intro with auto pay, then $39 after first year. Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offers details page using the designation "Sponsored", where applicable. The annual fee is. 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. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) 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. 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. Or turn $100 into $200. Terms apply; Terms and conditions apply. Read review. credit score $0 Annual fee Up to 4% Cash back Get $25.00 Welcome offer Info Pros & Cons Details 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. (The typical credit score scale runs from 300 at the low end to a maximum of 850.). 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. Therefore, you typically dont have to worry about a hard pull on your credit report. You also have to use that card responsibly, by paying the bill on time every month and not maxing out your credit limit. It depends on personal preference as well as your credit standing and organizational skills. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. Some Discover offers listed here are not currently available on WalletHub and may be out of date. Cardholders' accounts are reviewed for a potential credit line increase every three months. 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. Read our review. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. 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. Compare All Credit Cards Explore Capital One credit card benefits 1 Account Management (6) Protection (6) Apps & Digital Services (3) Travel & Retail (5) Account Alerts Apply for credit card with fair credit score. 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. There is a fine line between fair credit and good credit. If you don't like the offer, walk away with no harm done. Some rewards-earning options are listed above. We encourage everyone to share their knowledge while respecting our content guidelines. 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. Capital One Platinum Credit Card at Capital One's secure website FAIR CREDIT RATING 4.7 OVERALL RATING 4.0/5.0 No annual or hidden fees. 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. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. 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 MORE: Credit cards 101: Understanding the basics. Try to put everything into dollar terms. 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. If youre a few days late, youll likely owe a late fee. Capital One QuicksilverOne Cash Rewards Credit Card: Best for flat-rate rewards The Capital One QuicksilverOne card gives people with fair credit the chance to earn 5 percent cash back. 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. You earn cash back on every purchase, but when you pay your bill on time, the cash-back rate for that month gets a boost. Combine the flexibility of a credit card with the predictability of a personal loan. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. If you're looking to beef up your credit, it's a decent place to start. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the. What We Dont Like:Youll have to pay the bill in full every month, which limits the cards value for some business owners. Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. And while your initial credit limit may be lower than you'd like, you can earn quick credit limit increases with consecutive on-time payments. It earns 1.5% back in the form of Bitcoin when you pay your bill. If you're crypto-crazy, or just crypto-curious, the. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the best credit cards until you can improve your credit. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Roughly 13.5% of people have fair credit, according to WalletHub data. Perhaps most importantly, though, this card will consider applicants with limited-to-fair credit history. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Cardholders earn 1% back until they pay the accounts bill on time for six consecutive months, which boosts the earn rate to 1.25% cash back. At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. There's a quick pre-qualification process with no impact to your credit score, modest interest rate and an annual fee of $35 - $99. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. The simple way to earn bitcoin: make purchases on your card, make payments, earn bitcoin. -annual-fee option with an incentive for responsible behavior. That is the low end of a range from 17.49% to 31.49% (V), however, so it might be optimistic to assume youll get a rate that low. Cardholders earn 1 - 5% cash back on purchases, depending on the spending category, plus an initial bonus of $50 for spending $100 in the first 3 months. No single credit card offers the best rewards in every purchase category, plus the lowest rates and fees. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. And if you already have a long-serving credit account. Here is a list of our partners. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. Graduating to good credit could take as little as one month, depending on your circumstances. Read our review. This reporting affects key elements of your scores: Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. If you do make a late payment, the card doesn't impose a penalty APR. No annual fees, no foreign transactions fees. And while fair credit wont get you the very best unsecured cards, it should qualify you for an account with no annual fee, solid rewards or maybe even both. 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. Capital One QuicksilverOne Cash Rewards Credit Card. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. Zero fraud liability (which offers protection against unauthorized purchases). The top features: Earn 1% . . You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. You can also borrow against your credit limit, much like a personal loan. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. through NerdWallet.) Interest rates on credit cards for average credit tend to be on the high side. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). Compare Capital One's options for every credit level to find the card that's right for you. Or you can plan to request a product change from your issuer on your own eventually.
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