Youll also have the opportunity to earn some attractive initial bonuses. Why We Like It:QuicksilverOne offers 1.5% cash back on all purchases nearly 50% more than the average cash rewards card provides. Alternatives to Consider:The Capital One Spark Classic for Business is a low-cost rewards card for business owners with limited credit. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offers details page using the designation "Sponsored", where applicable. 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. Even though its promotional interest rate is . 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. Journey Student Rewards from Capital One. Apply for credit card with fair credit score. Enjoy peace of mind with $0 Fraud liability. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. 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 What We Dont Like:This card does not offer rewards or a low interest rate. Wallethub doesnt charge for this service. The top features: Earn 1% . The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. It only has a $39 annual fee and gives you at least 1.5% cash back on every purchase. 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. The Petal 2 Card also offers 1 - 1.5% cash back. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. This ensures that your on-time payments and other responsible credit habits will be recorded. But they may still offer rewards. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). It also earns up to 10% cash back when you use the card to make purchases with select merchants. No Credit Check. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. That's pretty good for a student card. 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. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. Credit Cards for Fair Credit | Mastercard With that in mind, we asked a panel of experts for insights into the best way to navigate fair credit now and escape it later. A hallmark of cards for fair credit is high interest rates. 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. The OpenSky Secured Visa Credit Card is one of the easiest credit cards to get with fair credit. Credit cards for fair credit target consumers with FICO scores between 580 and 669. $0 intro with auto pay, then $39 after first year. You can also borrow against your credit limit, much like a personal loan. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. isn't going to wow anyone; there's no sign-up bonus and the APR is high. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the. It also earns up to 10% cash back when you use the card to make purchases with select merchants. through NerdWallet.) Navy Federal Credit Union Platinum Credit Card *. 6 Best Credit Cards for Fair Credit (March 2023) - WalletHub 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. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. 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. 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. 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 Best Credit Cards for Average or Fair Credit of March 2023 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. Discover it Student chrome: Best feature: Rewards for students. 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. These cards can help you if you're just starting out with credit. Researcher. 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). . WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. When evaluating offers, please review the financial institutions Terms and Conditions. If you've already built good credit, you can probably score a card with higher rewards than this card offers. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. If you still arent approved, it may be a sign you need to work on your credit scores before applying again. Platinum Credit Card from Capital One And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. 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 typical, runs from 300 at the low end to a maximum of 850.). Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. Best Credit Card for Fair Credit - Fx empire 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. 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. Do not sell or share my personal information, Earn unlimited 1.5% cash back on every purchase, every day, No rotating categories or limits to how much you can earn, and cash back doesn't expire for the life of the account. : ', '}}. In particular, we focused on cards with low annual fees and high rewards rates, including general-purpose credit cards as well as store credit cards. 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. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. - Business Insider - Fact Check and Transparency Report (United States) . Best Credit Cards for Fair/Average Credit March 2023 - Credit Karma Lets take a look at Discovers offers and what score you need to get approved. What to avoid with credit cards for fair credit. If you do make a late payment, the card doesn't impose a penalty APR. OpenSky Secured Visa Credit Card. If you feel you have a case, you can contact the issuer and. 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. That is the low end of a range from 17.49% to 31.49% (V), however, so it might be optimistic to assume youll get a rate that low. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) Earn 1% cash back on all your purchases. WalletHub makes it easy to find the easiest credit cards to get. What We Dont Like:You need to wait several months until youre able to qualify for a truly competitive rewards rate. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The average person with fair credit is 47 years old and has an annual income of $54,000 per year. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. The best credit cards for fair credit can be a great tool in helping to build or rebuild your credit score. OpenSky Secured Visa Credit Card. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. 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. The best business credit card for fair credit is Capital One Spark Classic for Business because it has a $0 annual fee and gives 1% cash back on all purchases. One of the best unsecured credit cards for fair credit is Upgrade Cash Rewards Visa because it offers unlimited 1.5% cash back on all purchases (after you pay the bill) and a $0 annual fee. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. If your credit is at least fair, you can find cards that charge no annual fee at all. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. Credit Card Ratings - Experts Rate Top Cards & Help You Choose The Prosper Card has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. 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. Best Credit Cards for Fair Credit in February 2023. If youre more than 30 days late, it can start to affect your credit scores. What's the difference between fair and average credit? What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. If you're crypto-crazy, or just crypto-curious, the. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. Make at least the minimum payment, and do so on time each month. The Upgrade Cash Rewards Visa earns rewards on par with cards for good or excellent credit. Cardholders earn 1 - 5% cash back on purchases, depending on the spending category, plus an initial bonus of $50 for spending $100 in the first 3 months. We're sorry, but after searching our extensive database, we were unable to locate any credit cards that match the following criteria: {{tag.tag}}{{$last ? '' 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. The Best Credit Cards for Average or Fair Credit of March 2023 Get started with your free credit score. If possible, pay off your balance in full each month. Best Credit Cards for Fair/Average Credit of March 2023 - Bankrate Banks are required to notify you if you were denied because of information in your credit report. You can also borrow against your credit limit, much like a personal loan. If eligible, we'll create your Cash Score instead. Capital One . There are no rewards. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. Our opinions are our own. Access your account anytime, anywhere with our mobile app. Or turn $100 into $200. When you have fair credit, getting the right credit card can be a key step to building a good or excellent credit score. . Cards For Fair Credit With Instant Approval and No Annual Fee. Plus, the ongoing APR is on the high end at 29.74% Variable APR. Cardholders also are eligible for a credit limit increase in as little as 6 months. When you pay in full, you don't get. 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 also Discover's signature bonus for new cardholders. This ensures that your on-time payments and other responsible credit habits will be recorded. But you can achieve that effect with a collection of cards that each excel in a particular area. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. 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. Read our review. Monthly Transfer Bonuses - Forbes Advisor Best Credit Cards of March 2023; Best Gas Credit Cards; Best Travel Credit Cards; Best Balance Transfer Credit Cards; Best 0% APR Credit Cards; Best Cash Back Credit Cards; If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Theres no minimum spending or maximum rewards. The Journey Student Rewards from Capital One gives newcomers to credit a powerful incentive to develop responsible habits. 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. The prequalification process allows you to check your offer without any effect on your credit score. 'Review' : 'Reviews'}}, . Rejection stings, but you can learn from it. 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. 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. . With that being said, its not just your credit score you should worry about. 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. shines with its no-maintenance rewards structure and student-friendly bonus categories. -annual-fee option with an incentive for responsible behavior. First Progress Platinum Prestige Mastercard Secured Credit Card. . You can be automatically considered for a higher credit limit in as little as six months. Many fees are avoidable, especially if you use the card responsibly. The annual fee is. 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. MORE: Credit cards 101: Understanding the basics. a standout for students searching for their first credit card. Learn how NerdWallet rates credit cards. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). When evaluating offers, please review the financial institutions Terms and Conditions. The. 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. The. Virgin Atlantic Flying Club: Get a . Plus, Discover says there's no FICO history requirement for this card. 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 annual fee is. 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. 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. See if you're pre-approved within minutes without impacting your credit score. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. 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. One the VantageScore scale developed by the credit bureaus, the average score in 2022 was 698. Ideally, you wont be stuck in the fair credit score range forever, so look for a card that offers a route to improved terms. 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. 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. . 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 -. There are no rewards. 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. Here's why: Capital One advertises that this card is intended for people with fair credit, which can help make the application process less stressful if you have less-than-perfect credit. These companies collect the information used to calculate your credit scores. What to know before applying for a credit card, , its important to know your credit score. 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. You don't have to be a student to apply for the. And on top of all that, it earns cash back, too. 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). Best High-Limit Credit Cards for March 2023 - CNET Some may have slightly lower standards, for example, starting the fair credit range as 620 and ending it at 659. That's because this entry-level card doesn't charge an annual fee or foreign transaction fees. There is a fine line between fair credit and good credit. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. 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). Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. What are the best unsecured credit cards for fair credit? Build credit alongside hundreds of thousands of Petal card members. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. Standard message rates apply. 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. Foreign transaction fee: 1% of the transaction amount. 25 Best "Fair Credit" Credit Cards (2023) - Fastest, Easiest Approval 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. 10 Best Credit Cards for Fair Credit with High Limits Plus, the Petal 2 Card reports account info to the three major credit bureaus each 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. 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. We encourage everyone to share their knowledge while respecting our, Answer provided by user: {{ans.user_fullname}}. 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. You can be automatically considered for a higher credit limit in as little as six months. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. (If you go through with applying, then there's a hard check.) The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. You may qualify for better terms with a traditional personal loan, depending on your financial situation. Length of credit history. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. There's a $39 annual fee. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. So pay your bill on time every month, dont max out your spending limit and track your credit scores progress over time to see when youre ready for an upgrade. 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 INTRO OFFER: Unlimited Cashback Match only from Discover. Cardholders' accounts are reviewed for a potential credit line increase every three months. 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) ? Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. If you don't like the offer, walk away with no harm done. 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. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. 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. 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. Credit Score Requirements: Poor 500-599. And the card doesn't charge foreign transaction fees. As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. There's a quick pre-qualification process with no impact to your credit score, modest interest rate and an annual fee of $35 - $99. 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. Get pre-approved in seconds with no impact to your credit score. Roughly 13.5% of people have fair credit, according to WalletHub data. 1. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. If youre a few days late, youll likely owe a late fee. 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. Best Credit Cards for Fair or Average Credit of March 2023 It depends on personal preference as well as your credit standing and organizational skills. All financial products, shopping products and services are presented without warranty. The lower your utilization, the better; 30% or below is a good benchmark. The second-largest factor in your scores. Best Unsecured Credit Cards of March 2023. That will help cardholders build positive credit history, as long as they manage the account responsibly. WalletHub may share your information with third-parties in order to show personalized offers, as well as enable you to interact more easily with pre-fill forms or applications. Therefore, you typically dont have to worry about a hard pull on your credit report. Terms and conditions apply. 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. Best Unsecured Credit Cards for Fair Credit of March 2023 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. Before applying, confirm details on the issuers website. Earn a credit limit increase in as little as 6 months. You can check out the panels bios and responses below. Our pick for: Rewards for college students. Using multiple credit cards for the wrong reasons, however, can get you into big trouble. You may also qualify for better terms with a traditional personal loan, depending on your financial situation. You can get the Discover it Secured Credit Card with a bad credit score (below 640). Cardholders' accounts are reviewed for a potential credit line increase every three months. earns rewards on par with cards for good or excellent credit. The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. 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. Therefore, you typically dont have to worry about a hard pull on your credit report. 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. Best unsecured cards for short credit histories. Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. 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. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. If youre not sure how your credit is doing, you can check your latest credit score for free on WalletHub, the only site where credit scores and reports update daily. No problem. There's also Discover's signature bonus for new cardholders.