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Your web browser (Internet Explorer) is out of date and no longer supported. 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. Earn 1.5% unlimited cash back on card purchases every time you make a payment. Some Discover offers listed here are not currently available on WalletHub and may be out of date.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 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; By clicking "Accept All", you consent to our use of cookies. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. If eligible, we'll create your Cash Score instead. Once youve zeroed in on a credit card for fair or average credit, make sure you understand any fees it might charge: annual fees, balance transfer fees, foreign transaction fees, late-payment fees, etc. The Petal 1 "No Annual Fee" Visa Credit Card is a worthy contender for your wallet as you continue building credit. Credit utilization. -annual-fee option with an incentive for responsible behavior. MORE: Credit cards 101: Understanding the basics. 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. Please let us know if you notice any differences. The prequalification process allows you to check your offer without any effect on your credit score. Enjoy peace of mind with $0 Fraud liability. Check out our expert picks for fair credit credit cards here! There are lots of really good credit card for fair credit offers on the market right now. The issuer automatically reviews your account for potential credit line increases. It earns 1.5% back in the form of Bitcoin when you pay your bill. 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. You can check out the panels bios and responses below. . Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. When you pay in full, you don't get. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. But they may still offer rewards. What We Dont Like:This card does not offer rewards or a low interest rate. 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. 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. Just answer a few questions and we'll narrow the search for you. News Summary: If your credit score is in the average or fair range of 580 to 669, these credit cards are among the best and some even offer rewards and benefits. Promotion runs from March 1, 2023 to March 31, 2023. Alternatives to Consider:There are several really good credit cards for students available right now. Plus, Discover says there's no FICO history requirement for this card. Terms apply; 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. Why We Like It:This card is inexpensive to own and rewarding to use. If you're looking to beef up your credit, it's a decent place to start. The fee is. Finally, if you want to make things really easy, just sign up for a free WalletHub account. Best credit cards for fair credit Capital One QuickSilverOne Cash Rewards credit card Discover it Cash Back Petal 2 "Cash Back, No Fees" Visa Credit Card Credit One Bank Platinum Rewards Visa Credit One Bank American Express Card Chase Freedom Flex Summary table of the best credit cards for fair credit FAQs The $0-annual-fee Upgrade Cash Rewards Visa can be an ideal choice if you plan to carry a balance, want the convenience of equal monthly debt repayments and can pre-qualify for a favorable interest rate. You might qualify for less or no cash back at all. The Petal 2 Card also offers 1 - 1.5% cash back. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. Store credit cards can offer deferred interest to people with fair credit. 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 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. These cards lack the splashy rewards of credit cards for good or excellent credit, but they're a good option for those working to establish or rebuild their credit. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. Both can make it easy and convenient to make purchases in stores or online, with one key difference. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. If youre a few days late, youll likely owe a late fee. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. $0. Plus, people with fair credit should have high approval odds for the Capital One Platinum Card, since its a starter credit card available even to applicants with limited credit experience. 5. Why dont more banks and credit unions offer credit cards to people with fair credit? Terms apply.) If you still arent approved, it may be a sign you need to work on your credit scores before applying again. Quick Summary. 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. WalletHub makes it easy to find the easiest credit cards to get. And if you have more than one need, you can get multiple cards and use the Island Approach. 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. Apply for credit card with fair credit score. 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. Credit mix. If you've already built good credit, you can probably score a card with higher rewards than this card offers. Let Bankrate, a leader . The scoring formulas take into account multiple data points for each financial product and service. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. If you're looking to beef up your credit, it's a decent place to start. Just a dollar-for-dollar match. The issuer automatically reviews your account for potential credit line increases. Before applying, confirm details on the issuers website. 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. . BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. The Capital One Platinum Credit Card is the best credit card for fair credit, because, along with its lower credit requirements, it offers a $0 annual fee, access to Capital One benefits and the potential for credit line increases. WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. 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. 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. What are the most important things to look for in a fair-credit credit card? Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards. 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. The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. 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. Annual Fee: $39 (waived for the first year if you sign up for AutoPay before your first statement). Or you can plan to request a. from your issuer on your own eventually. If possible, pay off your balance in full each month. The lower your utilization, the better; 30% or below is a good benchmark. Graduating to good credit could take as little as one month, depending on your circumstances. 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. But there's still value to be had from fair-credit credit cards, and you dont have to stay in this particular creditworthiness tier for long. Capital One QuicksilverOne Cash Rewards Credit Card (5) Apply Now on Capital One's secure site Rewards Rate 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply) And on top of all that, it earns cash back, too. What are the easiest credit cards to get approved for? Researcher. Cardholders earn 1% back until they pay the accounts bill on time for six consecutive months, which boosts the earn rate to 1.25% cash back. You can also redeem rewards as a statement credit. All financial products, shopping products and services are presented without warranty. Comparing credit cards for fair credit can be tough. 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 Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. The card issuer reports details about your account to the major. 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. Lets take a look at Discovers offers and what score you need to get approved. With the, , youll have the potential to gain access to a higher credit line. MORE: 11 things you should know before getting your first credit card. Terms apply.) Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. There are no rewards. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. 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. Capital One Platinum Credit Card. Our pick for: Rewards for college students. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. , or a sign-up bonus or a 0% period. 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. 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 -. Many fees are avoidable, especially if you use the card responsibly. $39. The prequalification process allows you to check your offer without any effect on your credit score. Cards For Fair Credit With Instant Approval and No Annual Fee. No annual fees, no foreign transactions fees. Here is a list of our partners. The annual fee is $0. It also earns 1.5% cash back on all purchases. 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. Best unsecured cards for short credit histories. There are plenty of cards to choose from, so check out WalletHubs editors picks for the best credit cards for fair credit to find the best one for you. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. 1. Discover will automatically match all the cash back youve earned at the end of your first year! The lower your utilization, the better; is a good benchmark. Read our review. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. Six months is a good rule of thumb. 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. , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. Does each credit card company define "fair" credit the same way? What is the average credit score in the U.S.? You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). A credit card application usually triggers a hard inquiry on your credit report. 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. There is a fine line between fair credit and good credit. No annual fee and build your credit with responsible use. Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. Do any issuers have a particularly good/bad reputation for offering decent fair-credit credit cards. 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. : ', '}}. Make sure the card youre considering reports to at least one but ideally all three of these companies. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. Our opinions are our own. You also have to use that card responsibly, by paying the bill on time every month and not maxing out your credit limit. The top features: Earn 1% . What to avoid with credit cards for fair credit. If you like what you see, you can apply, at which point there will be a "hard" credit pull. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. 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. Customize Reject All Accept All Customize Consent Preferences The. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. Credit cards for fair credit are credit cards for people with credit scores from 640 to 699 who are building credit from scratch or rebuilding their credit after mistakes. , 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. and cards for fair credit tend to have high interest rates. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Petal's mobile app makes it easy to manage your money, track your spending, and automate payments. What's the difference between fair and average credit? The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. The only way to know exactly what you'll get is to go through prequalification. Great for large purchases with predictable payments you can budget for. Free, online credit score access for cardholders. Plus, the ongoing APR is on the high end at 29.74% Variable APR. Generally speaking, a FICO score that's considered "fair" will fall between . The Capital One QuicksilverOne Cash Rewards Credit Card is one of the best credit cards for people with fair credit who plan to charge a fair amount to their new card. Theres a 0% foreign transaction fee, too. 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. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) 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. This ensures that your on-time payments and other responsible credit habits will be recorded. Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. Conversely, a higher score that one issuer still sees as fair credit might qualify as good credit to a different issuer. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. 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. It's that simple, Be automatically considered for a higher credit line in as little as 6 months, Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges, Help strengthen your credit for the future with responsible card use, Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Cardholders' accounts are reviewed for a potential credit line increase every three months. 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. 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 simple way to earn bitcoin: make purchases on your card, make payments, earn bitcoin. Recent credit applications. 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 A credit card application usually triggers a. on your credit report. 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. Plus, the ongoing APR is on the high end at. And unlike with those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. Read our review. Try to put everything into dollar terms. If your credit is at least fair, you can find cards that charge no annual fee at all.
