Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. Even small business owners with limited credit history can get Capital One Spark Classic, so applicants with fair/average credit should have solid approval odds. Depending on which offer you qualify for, you could get as much as 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. If youre a few days late, youll likely owe a late fee. Credit cards for fair or average credit can help you move up to good or excellent credit when you use them responsibly. , the first thing to do is determine why. 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. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. 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. 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. 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. 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. 1. Paying in full every month also helps keep utilization in check. If you plan to travel internationally, make sure you have a backup plan. You can also redeem rewards as a statement credit. So how do we make money? Theres also no annual fee and no foreign transaction fee. Still not sure which credit card is best for building credit? Annual fees are the most prominent type of fee to watch out for, but theyre not alone. 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. But they may still offer rewards. 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). Youll be reviewed for regular credit line increases. See if you qualify in minutes without hurting your credit score. 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. 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 scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. If you don't like the offer, walk away with no harm done. The Upgrade Cash Rewards Visa earns rewards on par with cards for good or excellent credit. Terms apply.) Enjoy peace of mind with $0 Fraud liability. Generally speaking, a FICO score that's considered "fair" will fall between . Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. Best Low Interest Credit Cards for Fair Credit. $39. Roughly 13.5% of people have fair credit, according to WalletHub data. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. Navy Federal Credit Union Platinum Credit Card *. 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). No annual or hidden fees. 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months. 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. NerdWallet strives to keep its information accurate and up to date. The key difference is that this version charges an annual fee while the regular one does not. 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. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. 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 you like what you see, you can apply, at which point there will be a "hard" credit pull. At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. Paul Soucy Feb 27, 2023. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. If you're looking to beef up your credit, it's a decent place to start. Discover it Student Cash Back: Best feature: Student rewards. Credit cards for fair credit target consumers with FICO scores between 580 and 669. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. Virgin Atlantic Flying Club: Get a . Compare All Credit Cards Explore Capital One credit card benefits 1 Account Management (6) Protection (6) Apps & Digital Services (3) Travel & Retail (5) Account Alerts 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; Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. There are lots of really good credit card for fair credit offers on the market right now. If you're looking to beef up your credit, it's a decent place to start. Plus, earn unlimited 1% cash back on all other purchases automatically. Bear in mind that not all lenders define fair credit the same way. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. The. Some rewards-earning options are listed above. The average FICO credit score in the United States in 2022 was 716, according to the company that manages the FICO scoring model. If your credit is at least fair, you can find cards that charge no annual fee at all. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. Cardholders also are eligible for a credit limit increase in as little as 6 months. See what terms you'd qualify for without a hard credit inquiry. Just answer a few questions and we'll narrow the search for you. You can also borrow against your credit limit, much like a personal loan. You can see and track your credit score for free through NerdWallet. And on top of all that, it earns cash back, too. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. If your credit is at least fair, you can find cards that charge no annual fee at all. No problem. $0. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. 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 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. With that being said, its not just your credit score you should worry about. The prequalification process allows you to check your offer without any effect on your credit score. Actual terms may vary. $0 annual fee, $0 activation fees, $0 foreign transaction fees. The Capital One Platinum Credit Card doesn't offer rewards, as several other cards in the fair-credit category do, but for those looking to strengthen their credit, it's a simple, solid $0-annual-fee option with an incentive for responsible behavior. 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. You also get a free FICO score, low fees, and forgiveness for your first late payment. It's important to note that definitions of credit score ranges can differ from one card issuer to the next. credit score $0 Annual fee Up to 4% Cash back Get $25.00 Welcome offer Info Pros & Cons Details The annual fee is. Cards For Fair Credit With Instant Approval and No Annual Fee. 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. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. Combine the flexibility of a credit card with the predictability of a personal loan. What to know before applying for a credit card, , its important to know your credit score. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. 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. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. The lower your utilization, the better; 30% or below is a good benchmark. 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). With responsible use, you can be considered for a higher credit line in as little as six months. Banks are required to notify you if you were denied because of information in your credit report. 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. 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. The issuer automatically reviews your account for potential credit line increases. Discover it Student chrome: Best feature: Rewards for students. You can see and track your credit score for free through NerdWallet. You can be automatically considered for a higher credit limit in as little as six months. The annual fee is $0. is a worthy contender for your wallet as you continue building credit. 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. Read our review. Can I get a credit card if my credit is fair? It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. What is considered fair or average credit? The best credit cards for fair credit can be a great tool in helping to build or rebuild your credit score. That will help cardholders build positive credit history, as long as they manage the account responsibly. 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. 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. 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. Lets take a look at Discovers offers and what score you need to get approved. What We Dont Like:This card does not offer rewards or a low interest rate. The card issuer reports details about your account to the major. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. 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 It also has a $35 annual fee. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. Read our review. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. 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. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Do any issuers have a particularly good/bad reputation for offering decent fair-credit credit cards. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Your web browser (Internet Explorer) is out of date and no longer supported. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . Well give you a personalized card recommendation based on your latest credit score and financial priorities. Some may have slightly lower standards, for example, starting the fair credit range as 620 and ending it at 659. The annual fee is. . You can check out the panels bios and responses below. 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) 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. , issued by WebBank, is an excellent option for those with less-than-perfect credit. Quick Summary. You can be automatically considered for a higher credit limit in as little as six months. 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. MORE: Credit cards 101: Understanding the basics. 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) ? isn't going to wow anyone; there's no sign-up bonus and the APR is high. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. Or you can plan to request a. from your issuer on your own eventually. There is a fine line between fair credit and good credit. Our pick for: Crypto rewards + flexibility. if the card offers enough rewards and benefits to outstrip the cost of carrying it. 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. And unlike with those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. It earns 1.5% back in the form of Bitcoin when you pay your bill. These cards can help you if you're just starting out with credit or are working to get back on track. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. Annual Fee: $39 (waived for the first year if you sign up for AutoPay before your first statement).