The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. These cards can help you if you're just starting out with credit or are working to get back on track. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Why We Like It:There is no credit check when you apply, so a rocky credit history wont prevent you from getting approved. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. 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. There's also Discover's signature bonus for new cardholders. 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. Debit cards allow you to spend money by drawing on funds you have deposited at the bank. First Progress Platinum Prestige Mastercard Secured Credit Card. 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. The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. 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. Apply for credit card with fair credit score. 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. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Read our review. Plus, earn unlimited 1% cash back on all other purchases automatically. annual fee. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. (If you go through with applying, then there's a hard check.) If you're looking to beef up your credit, it's a decent place to start. Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. MORE: 11 things you should know before getting your first credit card. By clicking "Accept All", you consent to our use of cookies. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. Store credit cards can offer deferred interest to people with fair credit. Virgin Atlantic Flying Club: Get a . Some Discover offers listed here are not currently available on WalletHub and may be out of date. $0 intro with auto pay, then $39 after first year. It also earns 1.5% cash back on all purchases. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). 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. And thats great news, considering the best credit card deals require good or excellent credit for approval. 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. Great for large purchases with predictable payments you can budget for. 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 -. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. 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. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. 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. MORE: Credit cards 101: Understanding the basics. If possible, pay off your balance in full each month. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. The issuer automatically reviews your account for potential credit line increases. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. . Just a dollar-for-dollar match. 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 Banks are required to notify you if you were denied because of information in your credit report. 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. 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. The Petal 2 Visa Credit Card, issued by WebBank, is the best high-limit credit card for individuals with average, fair, or limited credit -- typically a credit score between 580 and 669. Or you can plan to request a. from your issuer on your own eventually. 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. Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. All financial products, shopping products and services are presented without warranty. Pay on time to boost your cash back to a total of 1.25% for that month, Enjoy no annual fee, foreign transaction fees, or hidden fees, Lock your card in the Capital One Mobile app if it's misplaced, lost or stolen, Earn up to $500 a year by referring friends and family when they're approved for a Capital One credit card, Pick the monthly due date that works best for you, Pay for Amazon.com purchases using your Capital One rewards, Pay for online purchases with virtual card numbers and keep your actual card number to yourself, Get notified via text, email, and phone if Capital One notices potential suspicious transactions on your account, Build your credit with responsible card use. Banks are required to notify you if you were denied because of information in your credit report. When evaluating offers, please review the financial institutions Terms and Conditions. However, this does not influence our evaluations. Why We Like It:The Capital One Platinum Credit Cardhas a $0 annual fee. Get pre-approved in seconds with no impact to your credit score. Still not sure which credit card is best for building 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. . The. 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. if the card offers enough rewards and benefits to outstrip the cost of carrying it. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. 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 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. , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. From huge sign-up bonuses to generous rewards, NerdWallet's best credit cards outshine the rest. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. The card also lets you see what terms you'd qualify for before officially applying. is a worthy contender for your wallet as you continue building credit. If you're crypto-crazy, or just crypto-curious, the. , making it a good option for someone with average credit. 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. Its always a good idea to shop around before picking out an unsecured credit card for fair credit. or are working to get back on track. 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. Graduating to good credit could take as little as one month, depending on your circumstances. Theres no minimum spending or maximum rewards. Credit utilization. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. Comparing credit cards for fair credit can be tough. Try to put everything into dollar terms. 1. The terms "fair credit" and "average credit" are used more or less interchangeably within the credit cards industry to describe scores in the middle ground between good credit and bad credit. Annual Fee: $39 (waived for the first year if you sign up for AutoPay before your first statement). 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. 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. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. Build credit alongside hundreds of thousands of Petal card members. If possible, pay off your balance in full each month. 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. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. The fee is. Find & compare credit cards from Mastercard that offer a higher chance of approval for people with average credit. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. The prequalification process allows you to check your offer without any effect on your credit score. Enjoy peace of mind with $0 Fraud liability. But they may still offer rewards. If your credit is at least fair, you can find cards that charge no annual fee at all. Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . But they may still offer rewards. Six months is a good rule of thumb. Make sure the card youre considering reports to at least one but ideally all three of these companies. , or a sign-up bonus or a 0% period. If youre more than 30 days late, it can start to affect your credit scores. 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. You can check out WalletHub to get custom credit improvement advice to help you along the way. Navy Federal Credit Union Platinum Credit Card *. 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 What We Dont Like:This card does not offer rewards or a low interest rate. No single credit card offers the best rewards in every purchase category, plus the lowest rates and fees. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. Like Upgrade's other cards, 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. NerdWallet strives to keep its information accurate and up to date. 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 increase your odds of approval when you apply for a card. And while fair credit wont get you the very best unsecured cards, it should qualify you for an account with no annual fee, solid rewards or maybe even both. You can also borrow against your credit limit, much like a personal loan. 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. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. No credit score? Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. Terms apply; This reporting affects key elements of your scores: Payment history is the single biggest factor in your credit score, so it's essential to pay your bill on time every month. All financial products, shopping products and services are presented without warranty.
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