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 ? '' Some Discover offers listed here are not currently available on WalletHub and may be out of date. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. Make sure the card youre considering reports to at least one but ideally all three of these companies. Cardholders' accounts are reviewed for a potential credit line increase every three months. Our pick for: Rewards for college students. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. Virgin Atlantic Flying Club: Get a . The Petal 2 Card also offers 1 - 1.5% cash back. 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. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. N/A. Before applying for a credit card, its important to know your credit score. 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. Combine the flexibility of a credit card with the predictability of a personal loan. John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. You can also borrow against your credit limit, much like a personal loan. Please let us know if you notice any differences. The Capital One QuicksilverOne Cash Rewards Credit Card offers those with average credit a chance to both earn rewards and, potentially, gain access to a higher credit line. 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. We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. However, this does not influence our evaluations. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. 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. The higher your credit score on either model's scale, the more creditworthy you may appear to potential lenders. The annual fee is $0. gives newcomers to credit a powerful incentive to develop responsible habits. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. 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. : ', '}}. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. You also get a free FICO score, low fees, and forgiveness for your first late payment. When you have fair credit, is it better to get a credit card with an annual fee or one that requires a refundable security deposit? And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. 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. doesnt only rely on credit scores to determine eligibility. Petal 1 Visa Credit Card. And if you have more than one need, you can get multiple cards and use the Island Approach. Let Bankrate, a leader . Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. From huge sign-up bonuses to generous rewards, NerdWallet's best credit cards outshine the rest. 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. Many fees are avoidable, especially if you use the card responsibly. Quick Summary. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. You might qualify for less or no cash back at all. Its always a good idea to shop around before picking out an unsecured credit card for fair credit. 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 For example, Discover will consider other factors, such as how your income compares to your debt, along with your employment status, whether you own or rent your home, how many loans and lines of credit you already have open, and more. Build credit alongside hundreds of thousands of Petal card members. 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. earns rewards on par with cards for good or excellent credit. And there's no annual fee, late fees or foreign transaction fees. If eligible, we'll create your Cash Score instead. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. 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. Paying in full every month also helps keep utilization in check. 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. New Credit Users. 7. 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. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. 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. 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. 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 can be automatically considered for a higher credit limit in as little as six months. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. Paul Soucy Feb 27, 2023. The only way to know exactly what you'll get is to go through prequalification. And the card doesn't charge foreign transaction fees. When evaluating offers, please review the financial institutions Terms and Conditions. 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. Best Unsecured Credit Cards of March 2023. Earn 1% cash back on all your purchases. Credit . Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. 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) ? Pay with your phone or device by using Apple Pay or Google Pay. The prequalification process allows you to check your offer without any effect on your credit score. What We Dont Like:This card does not offer rewards or a low interest rate. The Capital One Platinum Credit Card 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 $0-annual-fee option with an incentive for responsible behavior. Annual Fee: $39 (waived for the first year if you sign up for AutoPay before your first statement). What are the most important things to look for in a fair-credit credit card? 1. But they may still offer rewards. See if you qualify in minutes without hurting your credit score. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. 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. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. In fact, only 40 credit-score points separates the two tiers (fair credit means a credit score of 620 to 659, while good credit is 660 to 719). A fair credit score is usually defined as any score in the range of 640-699. Roughly 13.5% of people have fair credit, according to WalletHub data. The issuer automatically reviews your account for potential credit line increases. 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. Experian, Equifax and TransUnion are the three major bureaus that compile the credit reports that inform your credit scores. 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. What's the difference between fair and average credit? If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. Cardholders' accounts are reviewed for a potential credit line increase every three months. Theres no minimum spending or maximum rewards. By clicking "Accept All", you consent to our use of cookies. So if you havent checked your credit score in a while, make sure to do so before applying. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. OpenSky Secured Visa Credit Card. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. Read our review. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. Its worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. Earn a credit limit increase in as little as 6 months. 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. 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. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. 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 Read our review. A credit card application usually triggers a hard inquiry on your credit report. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. 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. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features. NerdWallet's ratings are determined by our editorial team. 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. If you feel you have a case, you can contact the issuer and ask for reconsideration. , which compile the credit reports that form the basis of your credit scores. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, Best Credit Cards for Fair or Average Credit of March 2023. Whether you want to pay less interest or earn more rewards, the right card's out there. 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. First Progress Platinum Prestige Mastercard Secured Credit Card. This card offers at least 1% cash back on all eligible purchases, up to 1.25% back after 6 months of on-time payments, and 1.5% cash back after 12 consecutive months of paying on time. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. Terms apply.) Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. might appeal to you. 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 -. Compare these deals from our partners to find one that fits your needs. Just a dollar-for-dollar match. 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. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. 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. Discover it Student chrome: Best feature: Rewards for students. Each card was scored using WalletHubs proprietary 100-point credit card rating system, and you can check out the top options in a handful of popular categories below (some cards are from WalletHub partners). 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. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. If you do make a late payment, the card doesn't impose a penalty APR. -annual-fee option with an incentive for responsible behavior. Platinum Credit Card from Capital One Fair 600-699. The annual fee is. 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). 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. 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. 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. And if you already have a long-serving credit account, keep it open and active. You can see and track your credit score for free through NerdWallet. You want your scores to go up, not down. If possible, pay off your balance in full each month. If you're crypto-crazy, or just crypto-curious, the. See what terms you'd qualify for without a hard credit inquiry. $0. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. But you can achieve that effect with a collection of cards that each excel in a particular area. 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. , or a sign-up bonus or a 0% period. Make at least the minimum payment, and do so on time each month. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. 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. Researcher. If you don't like the offer, walk away with no harm done. Credit utilization. Plus, Discover says there's no FICO history requirement for this card. 2. Customize Reject All Accept All Customize Consent Preferences ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. 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. 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. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Instantly access 50% of your credit while your card ships to you. The Upgrade Cash Rewards Visa earns rewards on par with cards for good or excellent credit. You can be automatically considered for a higher credit limit in as little as six months. What is considered fair or average credit? 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 Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. 1. 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. 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. At that point, youll probably have a good sense of why you were rejected. . 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. No interest on purchases when you pay in full and on time each month. You can check out WalletHub to get custom credit improvement advice to help you along the way. It also has a $35 annual fee. What are the easiest credit cards to get approved for? If you still arent approved, it may be a sign you need to work on your credit scores before applying again. Credit cards 101: Understanding the basics, How a credit card helps you improve fair credit, to good or excellent credit when you use them responsibly. Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. What's the minimum credit score needed for Discover cards? 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. The scoring formulas take into account multiple data points for each financial product and service. 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. FULL LIST OF EDITORIAL PICKS: The average FICO credit score in the United States in 2022 was 716, according to the company that manages the FICO scoring model. Access your account anytime, anywhere with our mobile app. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. The key difference is that this version charges an annual fee while the regular one does not. You can also borrow against your credit limit, much like a personal loan. 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. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. According toWalletHubs credit card experts, the best credit cards for fair credit usually have $0 annual fees and give at least 1% back in rewards. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. $39. is the amount you owe as a percentage of your available credit. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. You also have to use that card responsibly, by paying the bill on time every month and not maxing out your credit limit. Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. a standout for students searching for their first credit card. The best cards from this segment include options that let you earn rewards/cash back and ones that do away with annual fees. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. (If you go through with applying, then there's a hard check.) 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. 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. No credit score? Capital One QuicksilverOne Cash Rewards Credit Card. The card also lets you see what terms you'd qualify for before officially applying. Another good unsecured card for fair credit is the Petal 2 Visa Credit Card. Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . 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.
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