At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. Petal reports to all 3 major credit bureaus. Many fees are avoidable, especially if you use the card responsibly. 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 , the first thing to do is determine why. . Learn how NerdWallet rates credit cards. 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. You might be able to get a better card than you think. What's the minimum credit score needed for Discover cards? The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. 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. . And the card doesn't charge foreign transaction fees. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. 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. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. Lets take a look at Discovers offers and what score you need to get approved. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. The 1.5% rewards rate is on par with that offered by many cards for good or excellent credit. If you don't like the offer, walk away with no harm done. Best Credit Cards for Fair Credit in February 2023. 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. If possible, pay off your balance in full each month. And unlike with those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. NerdWallet strives to keep its information accurate and up to date. Credit mix. a standout for students searching for their first credit card. Zero fraud liability (which offers protection against unauthorized purchases). 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. 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. 7. 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. Read our review. Credit scores can fluctuate by 100 points in a single month, so graduating to a higher credit level doesnt have to take too long. doesnt only rely on credit scores to determine eligibility. 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 You can check out the panels bios and responses below. Annual Percentage Rate (APR) for purchases: 23.49% - 34.49% variable based on Prime Rate. These companies collect the information used to calculate your credit scores. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. through NerdWallet.) As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Make at least the minimum payment, and do so on time each month. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. Credit . The top features: Earn 1% . You might not qualify for 1.5% cash back. APR for cash advances: 34.49% variable based on Prime Rate. Capital One QuicksilverOne Cash Rewards Credit Card BEST OVERALL RATING 4.5 OVERALL RATING 4.5/5.0 Earn unlimited 1.5% cash back on every purchase, every day You may qualify for better terms with a traditional personal loan, depending on your financial situation. 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. You don't have to be a student to apply for the. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Our partners compensate us. 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. Enjoy peace of mind with $0 Fraud liability. Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Dont pay late: Make at least the minimum payment, and do so on time each month. 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. 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. Best Unsecured Credit Cards of March 2023. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. You increase your odds of approval when you apply for a card. Finally, if you want to make things really easy, just sign up for a free WalletHub account. The annual fee is. You can also redeem rewards as a statement credit. The best credit cards for fair credit are ones that you may qualify for with a FICO score of 580 to 689. Combine the flexibility of a credit card with the predictability of a personal loan. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. 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. Get pre-approved in seconds with no impact to your credit score. The OpenSky Secured Visa Credit Card is one of the easiest credit cards to get with fair credit. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. isn't going to wow anyone; there's no sign-up bonus and the APR is high. With the Capital One QuicksilverOne Cash Rewards Credit Card, youll have the potential to gain access to a higher credit line. 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. 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 ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 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. What is the average credit score in the U.S.? From huge sign-up bonuses to generous rewards, NerdWallet's best credit cards outshine the rest. You can be automatically considered for a higher credit limit in as little as six months. It also has a $35 annual fee. , which compile the credit reports that form the basis of your credit scores. Terms apply, Monitor your credit score with CreditWise from Capital One. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. So you could turn $50 cash back into $100. Make sure the card youre considering reports to at least one but ideally all three of these companies. Credit cards for fair credit, sometimes called "average" credit, are aimed at those in the 630-689 FICO score range. Just answer a few questions and we'll narrow the search for you. On top of that, the cards annual fee is $0. This may influence which products we write about and where and how the product appears on a page. When you have fair credit, is it better to get a credit card with an annual fee or one that requires a refundable security deposit? 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. (If you go through with applying, then there's a hard check.) And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. (If you go through with applying, then there's a hard check.) 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. 1. 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. 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. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. Plus, Discover says there's no FICO history requirement for this card. 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. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. 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 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. 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 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. 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. 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). Discover will automatically match all the cash back youve earned at the end of your first year! Wallethub doesnt charge for this service. Read our review. Both can make it easy and convenient to make purchases in stores or online, with one key difference. Before applying for a credit card, its important to know 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. Credit cards for fair or average credit can help you move up to good or excellent credit when you use them responsibly. 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. If you plan to travel internationally, make sure you have a backup plan. These cards can help you if you're just starting out with credit or are working to get back on track. 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. With responsible use, you can be considered for a higher credit line in as little as six months. 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; Youll be reviewed for regular credit line increases. This reporting affects key elements of your scores: Payment history. Earn 1.5% unlimited cash back on card purchases every time you make a payment. According toWalletHubs credit card experts, the best credit cards for fair credit usually have $0 annual fees and give at least 1% back in rewards. Here is a list of our partners. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. Plus, Discover says there's no FICO history requirement for this card. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). One of the best low interest credit cards for fair credit is the Petal 2 Visa Credit Card because it is possible to get an interest rate of 17.49% (V), depending on your overall creditworthiness. 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. There are lots of really good credit card for fair credit offers on the market right now. 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. , or a sign-up bonus or a 0% period. 11 things you should know before getting your first credit card, How to choose a credit card for fair credit. What We Dont Like:This card does not offer rewards or a low interest rate. No problem. If you like what you see, you can apply, at which point there will be a "hard" credit pull. $39. 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. 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. You can see and track your credit score for free through NerdWallet. Plus, the ongoing APR is on the high end at. So if you havent checked your credit score in a while, make sure to do so before applying. Theres no minimum spending or maximum rewards. 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. 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. 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. 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. 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. And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. It also earns 1.5% cash back on all purchases. 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. 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. Please let us know if you notice any differences. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . 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. 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. 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. Banks are required to notify you if you were denied because of information in your credit report. Cards For Fair Credit With Instant Approval and No Annual Fee. The higher your credit score on either model's scale, the more creditworthy you may appear to potential lenders. There is a fine line between fair credit and good credit. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Why We Like It:The Capital One Platinum Credit Cardhas a $0 annual fee. When you pay in full, you don't get. It earns 1.5% back in the form of Bitcoin when you pay your bill. If your credit is at least fair, you can find cards that charge no annual fee at all. It only has a $39 annual fee and gives you at least 1.5% cash back on every purchase. 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. Read review. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. Some may have slightly lower standards, for example, starting the fair credit range as 620 and ending it at 659. 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.