Get Credit Cards for Fair Credit Start with your FICO Score and get matched, based on your credit profile with offers for rewards or no annual fees, so you can strengthen your credit. Alternatives to Consider:There are several really good credit cards for students available right now. The Petal 1 "No Annual Fee" Visa Credit Card, issued by WebBank, is an excellent option for those with less-than-perfect credit. 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. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. Its always a good idea to shop around before picking out an unsecured credit card for fair credit. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases. 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. Recent credit applications. Promotion runs from March 1, 2023 to March 31, 2023. If your credit is at least fair, you can find cards that charge no annual fee at all. Length of credit history. 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. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. A credit card application usually triggers a. on your credit report. However, this does not influence our evaluations. 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. is a worthy contender for your wallet as you continue building credit. If you've already built good credit, you can probably score a card with higher rewards than this card offers. 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. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. isn't going to wow anyone; there's no sign-up bonus and the APR is high. See if you're approved in seconds Be automatically considered for a higher credit line in as little as 6 months Help build your credit through responsible use of a card like this What is considered fair or average credit? Ideally, youll have both installment loans (loans that require a specific number of equal payments, like a mortgage or auto loan), as well as revolving accounts (where the balance goes up and down, like with credit cards). Yes, you can get a credit card if you have fair credit. is a cross between a credit card and a personal loan, and it can offer the best of both worlds: flexibility, but with predictable terms from month to month. You can opt-out of sharing your personal info here. 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. Wallethub doesnt charge for this service. Try to put everything into dollar terms. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Its free, activate with the mobile app. The average person with fair credit is 47 years old and has an annual income of $54,000 per year. It also earns up to 10% cash back when you use the card to make purchases with select merchants. and cards for fair credit tend to have high interest rates. 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. , which compile the credit reports that form the basis of your credit scores. Capital One QuicksilverOne Cash Rewards Credit Card. These companies collect the information used to calculate your credit scores. Please let us know if you notice any differences. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. The simple way to earn bitcoin: make purchases on your card, make payments, earn bitcoin. Whether your finances arent so great or theyre right on track, you should be able to find a Discover card that works for you. People with fair credit are riskier applicants; and because of this higher risk, you might receive a credit card with a lower limit. And the card doesn't charge foreign transaction fees. A credit card application usually triggers a hard inquiry on your credit report. Best Credit Cards for Fair or Average Credit From Our Partners Our pick for Flat-rate cash back Compare this card Capital One QuicksilverOne Cash Rewards Credit Card 4.7 NerdWallet rating. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. 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. The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. The prequalification process allows you to check your offer without any effect on your credit score. The annual fee is. So whereas someone with excellent credit might receive a credit . And thats great news, considering the best credit card deals require good or excellent credit for approval. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. Terms apply.) Annual fee of $0. 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. You can also redeem rewards as a statement credit. Free, online credit score access for cardholders. if the card offers enough rewards and benefits to outstrip the cost of carrying it. Bear in mind that not all lenders define fair credit the same way. You can also borrow against your credit limit, much like a personal loan. Both can make it easy and convenient to make purchases in stores or online, with one key difference. 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. What We Dont Like:Youll have to pay the bill in full every month, which limits the cards value for some business owners. earns rewards on par with cards for good or excellent credit. If you don't like the offer, walk away with no harm done. 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. The prequalification process allows you to check your offer without any effect on your credit score. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. Does each credit card company define "fair" credit the same way? Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. You can see and track your credit score for free through NerdWallet. 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. Capital One QuicksilverOne Cash Rewards Credit Card, Capital One SavorOne Student Cash Rewards Credit Card, First Tech Choice Rewards World Mastercard, Milestone Mastercard - Less Than Perfect Credit Considered, {{(bank.reviews == 1) ? There's a $39 annual fee. You can be automatically considered for a higher credit limit in as little as six months. 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. 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. The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Generally speaking, a FICO score that's considered "fair" will fall between . 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. 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. You may be hit with an annual fee, a lower credit limit or higher interest rates, but some . You also get a free FICO score, low fees, and forgiveness for your first late payment. Best Credit Cards for Fair Credit & Airfare in 2023 Best Overall: Upgrade Cash Rewards Visa Best Secured: Bank of America Customized Cash Rewards Secured Credit Card Best for Newcomers: Petal 2 Visa Credit Card Best for Students: Bank of America Travel Rewards Credit Card for Students Best for Business: Capital One Spark Classic for Business 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. New Credit Users. Fair 600-699. The Capital One SavorOne Student Cash Rewards Credit Card is one of the best credit cards for students with fair credit. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. See what terms you'd qualify for without a hard credit inquiry. 2. Discover it Student chrome: Best feature: Rewards for students. (You can see and track your score for free through NerdWallet.) Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. With that being said, its not just your credit score you should worry about. When you have fair credit, getting the right credit card can be a key step to building a good or excellent credit score. $39. That's pretty good for a student card. 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. With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. What is the average credit score in the U.S.? Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. Do any issuers have a particularly good/bad reputation for offering decent fair-credit credit cards. Navy Federal Credit Union Platinum Credit Card *. Just answer a few questions and we'll narrow the search for you. If you still arent approved, it may be a sign you need to work on your credit scores before applying again. If you're crypto-crazy, or just crypto-curious, the. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. or are working to get back on track. 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 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. Interest rates on credit cards for average credit tend to be on the high side. Some rewards-earning options are listed above. Make sure the card youre considering reports to at least one but ideally all three of these companies. Theres also no annual fee and no foreign transaction fee. . 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 Capital One Platinum Credit Card is the perfect financial tool for your wallet because it provides low-cost access to credit, with the ability to improve your credit score with responsible behavior. The terms "fair credit" and "average credit" are used more or less interchangeably within the credit cards industry to describe scores in the middle ground between good credit and bad credit. 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 You don't have to be a student to apply for the. So you could turn $50 cash back into $100. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. 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. 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. Many or all of the products featured here are from our partners who compensate us. One of the best low interest credit cards for fair credit is the Petal 2 Visa Credit Card because it is possible to get an interest rate of 17.49% (V), depending on your overall creditworthiness. It only has a $39 annual fee and gives you at least 1.5% cash back on every purchase. A hallmark of cards for fair credit is high interest rates. 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. Before submitting an application, always verify all terms and conditions with the offering institution. As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. What's the minimum credit score needed for Discover cards? through NerdWallet.) And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. You can also borrow against your credit limit, much like a personal loan. It also has a $35 annual fee. . WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. The issuer automatically reviews your account for potential credit line increases. 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. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). Journey Student Rewards from Capital One gives you 1% cash back on all your purchases, plus 0.25% back when you make your monthly payment on time, for a total of 1.25% cash back. Combine the flexibility of a credit card with the predictability of a personal loan. Before applying for a credit card, its important to know your credit score. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. -annual-fee option with an incentive for responsible behavior. 'Review' : 'Reviews'}}, . This may influence which products we write about and where and how the product appears on a page. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. His work has been featured by major media outlets such as The Washington Post and The New York Times and has been cited by industry regulators such as the Consumer Financial Protection Bureau. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. There is a fine line between fair credit and good credit. Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. 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. So if you havent checked your credit score in a while, make sure to do so before applying. WalletHub makes it easy to find the easiest credit cards to get. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. You might qualify for less or no cash back at all. Journey Student Rewards from Capital One. 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. . 1. The average adult has around 5 credit cards, including store credit cards, but theres no golden rule for how many credit cards you should have - or how many credit cards is too many. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. 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. If youre a few days late, youll likely owe a late fee. What are the most important things to look for in a fair-credit credit card? NerdWallet's ratings are determined by our editorial team. Cards For Fair Credit With Instant Approval and No Annual Fee. You want your scores to go up, not down. 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. Pre-qualified offers are not binding. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. 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. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. We encourage everyone to share their knowledge while respecting our content guidelines. The second-largest factor in your scores. Here is a list of our partners and here's how we make money. Customize Reject All Accept All Customize Consent Preferences 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. If you've already built good credit, you can probably score a card with higher rewards than this card offers. 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. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the. Using these cards responsibly helps you improve your credit score, so you can then look for cards with better perks. From huge sign-up bonuses to generous rewards, NerdWallet's best credit cards outshine the rest. NerdWallet strives to keep its information accurate and up to date. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. 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. Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. 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 no minimum spending or maximum rewards. 1. Some Discover offers listed here are not currently available on WalletHub and may be out of date. Credit cards for fair credit are credit cards for people with credit scores from 640 to 699 who are building credit from scratch or rebuilding their credit after mistakes. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. Or turn $100 into $200. 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. This ensures that your on-time payments and other responsible credit habits will be recorded. Can I get a credit card if my credit is fair? Youll also have the opportunity to earn some attractive initial bonuses. Cardholders' accounts are reviewed for a potential credit line increase every three months. . The best credit cards for fair credit can be a great tool in helping to build or rebuild your credit score. Banks are required to notify you if you were denied because of information in your credit report. , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. Fair credit can feel a bit like borrower purgatory, as neither the heavenly perks associated with credit cards for people with good and excellent credit nor the devilishly high costs that accompany many credit cards for bad credit are available. 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. 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. And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. The. Make sure the card youre considering reports to at least one but ideally all three of these companies. Why We Like It:There is no credit check when you apply, so a rocky credit history wont prevent you from getting approved. The card issuer reports details about your account to the major. 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. 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. , issued by WebBank, is an excellent option for those with less-than-perfect credit. WalletHub actively maintains a database of 1,500+ credit card offers, from which we select the best credit cards for fair credit for different applicants as well as derive market-wide takeaways and trends. 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. The fee is $0 intro with auto pay, then $39 after first year. Plus, Discover says there's no FICO history requirement for this card. Reviews show typical fair-credit applicants for the cards below start with a limit between $300 and $750, but see an increase after regular payments. Enjoy peace of mind with $0 Fraud liability. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. Finally, if you want to make things really easy, just sign up for a free WalletHub account. is the amount you owe as a percentage of your available credit. 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 -. Or you can plan to request a product change from your issuer on your own eventually. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. But youve got the knowledgeable WalletHub community on your side. 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. 1. You may also qualify for better terms with a traditional personal loan, depending on your financial situation. 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. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Read our review. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. Capital One Platinum Credit Card. With responsible use, you can be considered for a higher credit line in as little as six months. 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. (The typical credit score scale runs from 300 at the low end to a maximum of 850.). Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. The only way to know exactly what you'll get is to go through prequalification. Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow.