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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. 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. Read our review. Your web browser (Internet Explorer) is out of date and no longer supported. 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. The Capital One QuicksilverOne Cash Rewards Credit Card, for example, charges an annual fee of $39. 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. See what terms you'd qualify for without a hard credit inquiry. The Brex Corporate Card for Startups is one of the best fair-credit credit cards for business. Earn a credit limit increase in as little as 6 months. As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. 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. 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. Who Should Get It:Apply for the OpenSky Secured Visa Credit Card if youre rebuilding from credit damage and want high approval odds. It also earns up to 10% cash back when you use the card to make purchases with select merchants. The lower your utilization, the better; is a good benchmark. The prequalification process allows you to check your offer without any effect on your credit score. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. The higher your credit score on either model's scale, the more creditworthy you may appear to potential lenders. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. See what terms you'd qualify for without a hard credit inquiry. No interest on purchases when you pay in full and on time each month. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. Discover it Student chrome: Best feature: Rewards for students. 5. 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. . The annual fee is $0. It typically means your credit scores fall in the range of 630-689 on a, Credit scores indicate your level of risk to potential lenders and are based on. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. 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. You can be automatically considered for a higher credit limit in as little as six months. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. Why We Like It:There is no credit check when you apply, so a rocky credit history wont prevent you from getting approved. 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. gives newcomers to credit a powerful incentive to develop responsible habits. 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. Actual terms may vary. Pay with your phone or device by using Apple Pay or Google Pay. With the Capital One QuicksilverOne Cash Rewards Credit Card, youll have the potential to gain access to a higher credit line. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. 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 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 also borrow against your credit limit, much like a personal loan. Why We Like It:The Capital One Platinum Credit Cardhas a $0 annual fee. You may qualify for better terms with a traditional personal loan, depending on your financial situation. , or a sign-up bonus or a 0% period. 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. There's a quick pre-qualification process with no impact to your credit score, modest interest rate and an annual fee of $35 - $99. The Petal 2 Card also offers 1 - 1.5% cash back. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. Best for cash back: Capital One QuicksilverOne Cash Rewards Credit Card. Combine the flexibility of a credit card with the predictability of a personal loan. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. Platinum Credit Card from Capital One Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. And on top of all that, it earns cash back, too. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. The prequalification process allows you to check your offer without any effect on your credit score. No single credit card offers the best rewards in every purchase category, plus the lowest rates and fees. (You can see and track your score for free through NerdWallet.) The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. Plus, Discover says there's no FICO history requirement for this card. . No security deposit required get started today! 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. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. Read our review. But they may still offer rewards. Just a dollar-for-dollar match. 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). Compare Capital One's options for every credit level to find the card that's right for you. Numerous credit card applications in a short period of time can hurt your credit score, and having too many credit cards can lead to overspending, expensive interest charges, missed payments and credit score damage. Make sure the card youre considering reports to at least one but ideally all three of these companies. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. . In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. 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. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. One the VantageScore scale developed by the credit bureaus, the average score in 2022 was 698. 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. If you feel you have a case, you can contact the issuer and ask for reconsideration. The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. 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. What are the best unsecured credit cards for fair credit? Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. If eligible, we'll create your Cash Score instead. Its free, activate with the mobile app. There's also Discover's signature bonus for new cardholders. You can opt-out of sharing your personal info here. 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. What is the average credit score in the U.S.? 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. Best Credit Cards for Fair Credit in February 2023. You may also qualify for better terms with a traditional personal loan, depending on your financial situation. 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. Banks are required to notify you if you were denied because of information in your credit report. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. It also earns up to 10% cash back when you use the card to make purchases with select merchants. 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. 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 Foreign transaction fee: 1% of the transaction amount. annual fee. Some rewards-earning options are listed above. Why We Like It:QuicksilverOne offers 1.5% cash back on all purchases nearly 50% more than the average cash rewards card provides. Free, online credit score access for cardholders. A credit score in or above the recommended range means you have a higher chance of approval, but doesnt guarantee it. , the first thing to do is determine why. 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. Or you can plan to request a. from your issuer on your own eventually. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. So you could turn $50 cash back into $100. Or you can plan to request a product change from your issuer on your own eventually. The. So if you havent checked your credit score in a while, make sure to do so before applying. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. 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. 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. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. It's important to note that definitions of credit score ranges can differ from one card issuer to the next. Fair credit wont qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. The issuer automatically reviews your account for potential credit line increases. Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. With responsible use, you can be considered for a higher credit line in as little as six months. You can be automatically considered for a higher credit limit in as little as six months. 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. 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. Find & compare credit cards from Mastercard that offer a higher chance of approval for people with average credit. It also earns 1.5% cash back on all purchases. 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. Fair 600-699. Theres no minimum spending or maximum rewards. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. Our pick for: Cash back with select merchants, Our pick for: Prequalification + up to 1.5% cash back, Our pick for: Help for 'less than perfect credit', Our pick for: College students and young adults. 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. 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months. , which compile the credit reports that form the basis of your credit scores. 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. 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. Alternatives to Consider:The Capital One Platinum Credit Card, the Capital One QuicksilverOne Cash Rewards Credit Card and the Upgrade Cash Rewards Visa are all great options. 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. Furthermore, fair credit is far from a life sentence. Earn 1.5% unlimited cash back on card purchases every time you make a payment. Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. Zero fraud liability (which offers protection against unauthorized purchases). Best Low Interest Credit Cards for Fair 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. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. WalletHubs editors compared hundreds of credit cards for people with fair credit scores, searching for the top offers in the most popular categories. Another good unsecured card for fair credit is the Petal 2 Visa Credit 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. And if you have more than one need, you can get multiple cards and use the Island Approach. keeps you in debt longer and could ultimately drag down your credit scores. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. Get Credit Cards for Fair Credit Start with your FICO Score and get matched, based on your credit profile with offers for rewards or no annual fees, so you can strengthen your credit. The best credit cards for fair credit can be a great tool in helping to build or rebuild your credit score. However, this does not influence our evaluations. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Before applying, confirm details on the issuers website. With responsible use, you can be considered for a higher credit line in as little as six months. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. Finally, if you want to make things really easy, just sign up for a free WalletHub account. , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. Read review. The annual fee is. Try not to carry a balance: Interest rates on credit cards for average credit tend to be on the high side. 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. 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. APR for cash advances: 34.49% variable based on Prime Rate. The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. Or turn $100 into $200. Its worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. If you're looking to beef up your credit, it's a decent place to start. 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 to avoid with credit cards for fair credit. Researcher. Alternatives to Consider:There are several really good credit cards for students available right now. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. 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. This content is not provided or commissioned by any issuer. 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. 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. 0.99% intro APR on balance transfers for 12 months, followed by a regular APR of 10.24% - 18.00% variable on both purchases and . 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. 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. Promotion runs from March 1, 2023 to March 31, 2023. But youve got the knowledgeable WalletHub community on your side. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. Be automatically considered for a higher credit line in as few as 7 months. 1. And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. . So its a great way to save money as you build credit, which should be your top priority until you have a good credit score. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. All financial products, shopping products and services are presented without warranty. 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. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. Capital One Platinum Credit Card. 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 If you still arent approved, it may be a sign you need to work on your credit scores before applying again. -annual-fee option with an incentive for responsible behavior. You may be hit with an annual fee, a lower credit limit or higher interest rates, but some . What We Dont Like:This card is not a good option for carrying a balance from month to month, thanks to a fairly high APR. Who Should Get It:Consider applying for the Capital One SavorOne Student Cash Rewards Credit Card if youre a college student with limited to fair credit whose spending habits match up well with the cards rewards. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. Discover will automatically match all the cash back youve earned at the end of your first year! through NerdWallet.) What We Dont Like:This card does not offer rewards or a low interest rate. 7. You can also redeem rewards as a statement credit. Free credit score: As you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. The annual fee is $0. Length of credit history. It also earns 1.5% cash back on all purchases. If you've already built good credit, you can probably score a card with higher rewards than this card offers. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) If youre rejected for a credit card, the first thing to do is determine why. The scoring formulas take into account multiple data points for each financial product and service. The key difference is that this version charges an annual fee while the regular one does not. The Capital One SavorOne Student Cash Rewards Credit Card is one of the best credit cards for students with fair credit. 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. 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. 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. Read our review. (If you go through with applying, then there's a hard check.) 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. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. There are some notable restrictions on the Bitcoin rewards you earn, including holding requirements and transaction fees when you sell. Learn how NerdWallet rates credit cards. 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.