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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. No single credit card has the best rewards and the best rates, which means you shouldnt try to use one for both everyday purchases and carrying a balance. MORE: 11 things you should know before getting your first credit card. 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). 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. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. APR for cash advances: 34.49% variable based on Prime Rate. WalletHub makes it easy to find the easiest credit cards to get. 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. 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. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. 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. 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. As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. Well give you a personalized card recommendation based on your latest credit score and financial priorities. 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. If youre a few days late, youll likely owe a late fee. At that point, youll probably have a good sense of why you were rejected. 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. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. 5. And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. You can opt-out of sharing your personal info here. The Petal 2 Card also offers 1 - 1.5% cash back. 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. A fair credit score is usually defined as any score in the range of 640-699. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. But they may still offer rewards. Alternatives to Consider:The Capital One Spark Classic for Business is a low-cost rewards card for business owners with limited credit. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). 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. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. Some Discover offers listed here are not currently available on WalletHub and may be out of date. 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 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. 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. The key difference is that this version charges an annual fee while the regular one does not. There is a fine line between fair credit and good credit. 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. You want your scores to go up, not down. Researcher. You may qualify for better terms with a traditional personal loan, depending on your financial situation. If you're crypto-crazy, or just crypto-curious, the. 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. And if you already have a long-serving credit account, keep it open and active. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. Plus, Discover says there's no FICO history requirement for this card. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. 1. Therefore, you typically dont have to worry about a hard pull on your credit report. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. 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. 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. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. Best credit cards for fair and average credit Best for No Fees: Petal 2 "Cash Back, No Fees" Visa Credit Card Best for Cash Back: Capital One QuicksilverOne Cash Rewards Credit Card. Its always a good idea to shop around before picking out an unsecured credit card for fair credit. Try not to carry a balance: Interest rates on credit cards for average credit tend to be on the high side. . But you can achieve that effect with a collection of cards that each excel in a particular area. 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. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Why dont more banks and credit unions offer credit cards to people with fair credit? Free, online credit score access for cardholders. Comparing credit cards for fair credit can be tough. Credit mix. Furthermore, fair credit is far from a life sentence. With that being said, its not just your credit score you should worry about. 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. Capital One QuicksilverOne Cash Rewards Credit Card. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. And the card doesn't charge foreign transaction fees. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. What are the best unsecured credit cards for fair 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. 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. , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. You can check out the panels bios and responses below. (The typical credit score scale runs from 300 at the low end to a maximum of 850.). Disclaimer: NerdWallet strives to keep its information accurate and up to date. (You can see and track your score for free through NerdWallet.) , issued by WebBank, is an excellent option for those with less-than-perfect credit. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. Best For Credit Score Annual Fee Welcome Bonus Citi Premier Card Best Overall Card for Gas Excellent, Good $95 60,000 bonus points Platinum Rewards Visa Signature Card Best. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. 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) ? You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. Its free, activate with the mobile app. 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. Get started with your free credit score. This reporting affects key elements of your scores: Payment history. You can also borrow against your credit limit, much like a personal loan. That will help cardholders build positive credit history, as long as they manage the account responsibly. The. Keep in mind, also, that credit scores are not the only thing that credit card issuers and other lenders look at when evaluating a credit application. 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. If you feel you have a case, you can contact the issuer and. See if you qualify in minutes without hurting your credit score. You can get the Discover it Secured Credit Card with a bad credit score (below 640). 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). 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. . 7. See what terms you'd qualify for without a hard credit inquiry. Be automatically considered for a higher credit line in as few as 7 months. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Petal 1 Visa Credit Card. Read review. 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. . 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. If you still arent approved, it may be a sign you need to work on your credit scores before applying again. Plus, the ongoing APR is on the high end at. 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. Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. The card issuer reports details about your account to the major. Plus, Discover says there's no FICO history requirement for this card. The Journey Student Rewards from Capital One gives newcomers to credit a powerful incentive to develop responsible habits. What We Dont Like:This card does not offer rewards or a low interest rate. There are some notable restrictions on the Bitcoin rewards you earn, including holding requirements and transaction fees when you sell. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. No Credit Check. There are lots of really good credit card for fair credit offers on the market right now. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The average person with fair credit is 47 years old and has an annual income of $54,000 per year. isn't going to wow anyone; there's no sign-up bonus and the APR is high. And the card doesn't charge foreign transaction fees. If you're looking to beef up your credit, it's a decent place to start. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . Best Low Interest Credit Cards for Fair Credit. The overall goal in comparing credit card offers for fair credit is to find the card that will maximize your savings, and WalletHub's selections were made with that in mind. 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). No annual fees, no foreign transactions fees. 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. Please let us know if you notice any differences. INTRO OFFER: Unlimited Cashback Match only from Discover. And unlike with those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. It also earns 1.5% cash back on all purchases. - Business Insider - Fact Check and Transparency Report (United States) . 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. Instantly access 50% of your credit while your card ships to you. Terms and conditions apply. Zero fraud liability (which offers protection against unauthorized purchases). But youve got the knowledgeable WalletHub community on your side. . 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. NerdWallet's Credit Cards team selects the best credit cards for fair or average credit based on overall value, as evidenced by star ratings, as well as suitability for specific kinds of consumers. 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. 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. Theres a 0% foreign transaction fee, too. 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. 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. It depends on personal preference as well as your credit standing and organizational skills. 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. That's a big reason why the term "fair credit" is often used to describe scores in the middle ground between bad and good. Can I get a credit card if my credit is fair? Pretty much all credit cards for fair credit are unsecured, though. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. If your credit is at least fair, you can find cards that charge no annual fee at all. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. 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. 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. might appeal to you. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. $0 intro with auto pay, then $39 after first year. These cards can help you if you're just starting out with credit. The issuer automatically reviews your account for potential credit line increases.

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