best credit card for fair credit

$0. Or you can plan to request a. from your issuer on your own eventually. First Progress Platinum Prestige Mastercard Secured Credit Card. 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. Discover it Student Cash Back: Best feature: Student rewards. . 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. Some even give rewards of 1% or more. The prequalification process allows you to check your offer without any effect on your credit score. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. The prequalification process allows you to check your offer without any effect on your credit score. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. Credit mix. The Capital One SavorOne Student Cash Rewards Credit Card is one of the best credit cards for students with fair credit. Free credit score: As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. Zero fraud liability (which offers protection against unauthorized purchases). $105. 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. The fee is $0 intro with auto pay, then $39 after first year. 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. - Business Insider - Fact Check and Transparency Report (United States) . 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. If you're looking to beef up your credit, it's a decent place to start. Read our review. 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. Discover will automatically match all the cash back youve earned at the end of your first year! But there are unsecured cards for every credit level, including bad 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. Banks are required to notify you if you were denied because of information in your credit report. Why this is one of the best credit cards for fair credit: When you pay this card on time, you can boost your cash back earnings. You also get a free FICO score, low fees, and forgiveness for your first late payment. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. There are no rewards. You might be able to get a better card than you think. Doing so also avoids costly late fees. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. NerdWallet's ratings are determined by our editorial team. It earns 1.5% back in the form of Bitcoin when you pay your bill. The second-largest factor in your scores. might appeal to you. There are some notable restrictions on the Bitcoin rewards you earn, including holding requirements and transaction fees when you sell. And the card doesn't charge foreign transaction fees. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. What to avoid with credit cards for fair credit. If you've already built good credit, you can probably score a card with higher rewards than this card offers. Can I get a credit card if my credit is fair? 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. The annual fee is $0. Whether you want to pay less interest or earn more rewards, the right card's out there. What are the most important things to look for in a fair-credit credit card? Make at least the minimum payment, and do so on time each month. 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. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) Our opinions are our own. Wallethub doesnt charge for this service. The card also lets you see what terms you'd qualify for before officially applying. If you've already built good credit, you can probably score a card with higher rewards than this card offers. 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. 11 things you should know before getting your first credit card, How to choose a credit card for fair credit. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. What are some low interest credit cards for fair credit? 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. There's also Discover's signature bonus for new cardholders. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. You can check out the panels bios and responses below. 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. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. Journey Student Rewards from Capital One. When evaluating offers, please review the financial institutions Terms and Conditions. Before submitting an application, always verify all terms and conditions with the offering institution. 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. Fair credit wont qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. 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. That's pretty good for a student card. We encourage everyone to share their knowledge while respecting our content guidelines. . With the Capital One QuicksilverOne Cash Rewards Credit Card, youll have the potential to gain access to a higher credit line. Capital One Platinum Credit Card. That's a big reason why the term "fair credit" is often used to describe scores in the middle ground between bad and good. (If you go through with applying, then there's a hard check.) 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. If you're crypto-crazy, or just crypto-curious, the. 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. Petal 1 Visa Credit Card. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Heres the minimum credit score needed for each Discover card: There arent any Discover cards that flat-out require excellent credit, currently. NerdWallet's ratings are determined by our editorial team. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. . What We Dont Like:This card does not offer rewards or a low interest rate. INTRO OFFER: Unlimited Cashback Match only from Discover. 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. Terms apply.) The Petal 2 Visa Credit Card is one of the best credit cards for people with fair credit, or even limited credit. No security deposit required get started today! Terms apply.) 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. It also earns up to 10% cash back when you use the card to make purchases with select merchants. 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. It only has a $39 annual fee and gives you at least 1.5% cash back on every purchase. 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). Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. 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. There are lots of really good credit card for fair credit offers on the market right now. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. The annual fee is $0. Compare these deals from our partners to find one that fits your needs. N/A. Theres no minimum spending or maximum rewards. 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. 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. 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. Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. You want your scores to go up, not down. . Instead, get a rewards card for everyday expenses that you can pay in full within a billing period, a card offering 0% on purchases for big-ticket spending or a 0% balance transfer card for reducing the cost of existing debt. 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. Best unsecured cards for short credit histories. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. The. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. Recent credit applications. You don't have to be a student to apply for the Journey Student Rewards from Capital One, making it a good option for someone with average credit. You also get a free FICO score, low fees, and forgiveness for your first late payment. These companies collect the information used to calculate your credit scores. 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. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. The Petal 2 Card also offers 1 - 1.5% cash back. 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 feel you have a case, you can contact the issuer and. (You can see and track your score for free through NerdWallet.) Alternatives to Consider:There are several really good credit cards for students available right now. With that being said, its not just your credit score you should worry about. Capital One Platinum Credit Card FAIR CREDIT RATING So you could turn $50 cash back into $100. 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. If youre more than 30 days late, it can start to affect your credit scores. What We Dont Like:There is a $39 annual fee, and paying the cards bill in full every month is essential, given its high APR. And if you have more than one need, you can get multiple cards and use the Island Approach. Before applying for a credit card, its important to know your credit score. WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. If your credit is at least fair, you can find cards that charge no annual fee at all. Great for large purchases with predictable payments you can budget for. through NerdWallet.) But they may still offer rewards. and cards for fair credit tend to have high interest rates. A credit card application usually triggers a hard inquiry on your credit report. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. 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. $39. 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 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. 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 can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Why We Like It:It has a $0 annual fee and gives at least 1% cash back on all eligible purchases. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. See if you qualify in minutes without hurting your credit score. Why We Like It:QuicksilverOne offers 1.5% cash back on all purchases nearly 50% more than the average cash rewards card provides. Instantly access 50% of your credit while your card ships to you. Pre-qualified offers are not binding. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. MORE: Credit cards 101: Understanding the basics. 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. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. At that point, youll probably have a good sense of why you were rejected. The best cards from this segment include options that let you earn rewards/cash back and ones that do away with annual fees. Pretty much all credit cards for fair credit are unsecured, though. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . 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 pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. 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. 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. 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. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. WalletHub makes it easy to find the best credit cards for fair credit. No annual fee and build your credit with responsible use. Experian, Equifax and TransUnion are the three major bureaus that compile the credit reports that inform your credit scores. 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. And thats great news, considering the best credit card deals require good or excellent credit for approval. If youre a few days late, youll likely owe a late fee. If you don't like the offer, walk away with no harm done. 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 card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. Our pick for: Rewards for college students. Youll be reviewed for regular credit line increases. When you pay in full, you don't get. Credit cards for fair or average credit can help you move up to good or excellent credit when you use them responsibly. Earn 1.5% unlimited cash back on card purchases every time you make a payment. 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 And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. APR for cash advances: 34.49% variable based on Prime Rate. 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. The. Your web browser (Internet Explorer) is out of date and no longer supported. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Plus, earn unlimited 1% cash back on all other purchases automatically. The best credit cards for fair credit are ones that you may qualify for with a FICO score of 580 to 689. And there's no annual fee, late fees or foreign transaction fees. 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. Why We Like It:The Capital One Platinum Credit Cardhas a $0 annual fee. Pre-qualified offers are not binding. 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 would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. Another good unsecured card for fair credit is the Petal 2 Visa Credit Card. 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. . What are the easiest credit cards to get approved for? Six months is a good rule of thumb. No touch payments with contactless technology built in. 'Review' : 'Reviews'}}, . Make sure the card youre considering reports to at least one but ideally all three of these companies. 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. 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. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. 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. The scoring formulas take into account multiple data points for each financial product and service. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. 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. 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. 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. 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 Credit Score Requirements: Poor 500-599. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) The lower your utilization, the better; is a good benchmark. See if you're pre-approved within minutes without impacting your credit score. Cardholders' accounts are reviewed for a potential credit line increase every three months. Comparing credit cards for fair credit can be tough. This reporting affects key elements of your scores: Payment history.