It also earns up to 10% cash back when you use the card to make purchases with select merchants. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Although the name is a mouthful, this card is an excellent option for people with fair credit. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. 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). Cardholders' accounts are reviewed for a potential credit line increase every three months. If you don't like the offer, walk away with no harm done. If you're crypto-crazy, or just crypto-curious, the. This content is not provided or commissioned by any issuer. 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. Zero fraud liability (which offers protection against unauthorized purchases). The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. 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. What are the most important things to look for in a fair-credit credit card? The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. The Journey Student Rewards from Capital One gives newcomers to credit a powerful incentive to develop responsible habits. Annual fee of $0. Compare these deals from our partners to find one that fits your needs. 5. 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. It earns 1.5% back in the form of Bitcoin when you pay your bill. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases. 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. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. We believe everyone should be able to make financial decisions with confidence. . Customize Reject All Accept All Customize Consent Preferences Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. NerdWallet's ratings are determined by our editorial team. Can I get a credit card if my credit is fair? Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. Instantly access 50% of your credit while your card ships to you. 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 Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. There are some notable restrictions on the Bitcoin rewards you earn, including holding requirements and transaction fees when you sell. Six months is a good rule of thumb. Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. (The typical, runs from 300 at the low end to a maximum of 850.). The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. Fair credit wont qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. Before submitting an application, always verify all terms and conditions with the offering institution. Roughly 13.5% of people have fair credit, according to WalletHub data. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Why We Like It:The Capital One Platinum Credit Cardhas a $0 annual fee. 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. To help people with no credit or bad credit maximize their odds of approval for a credit card, WalletHubs editors compared the approval requirements for more than 1,500 credit card offers, along with their fees, rates and rewards. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. 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 . Even though its promotional interest rate is . When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. 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. This card earns rewards in the form of Bitcoin when you pay your bill (although you are subject to holding requirements and transaction fees when you sell your crypto). 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months. But youve got the knowledgeable WalletHub community on your side. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. 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. No interest on purchases when you pay in full and on time each month. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) 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. If you've already built good credit, you can probably score a card with higher rewards than this card offers. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. Terms apply.) See if you qualify in minutes without hurting your credit score. Pre-qualified offers are not binding. For 0% cards, it means seeing what monthly debt payments you can comfortably afford to make, how large of a balance you will therefore have remaining at the end of each cards 0% intro term, and what interest charges you would incur thereafter. For example, you might need to consider one-time fees for application processing or transferring a balance, depending on what type of card youre looking for and how you plan to use it. Alternatives to Consider:The Capital One Spark Classic for Business is a low-cost rewards card for business owners with limited credit. . 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. Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . 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 annual fee is $0. You want your scores to go up, not down. Free, online credit score access for cardholders. You can be automatically considered for a higher credit limit in as little as six months. This may influence which products we write about and where and how the product appears on a page. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. 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. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. , which is steep if you plan on carrying a balance. That's pretty good for a student card. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. 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. OpenSky Secured Visa Credit Card. No touch payments with contactless technology built in. . Navy Federal Credit Union Platinum Credit Card *. Get started with your free 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. You also get a free FICO score, low fees, and forgiveness for your first late payment. If possible, pay off your balance in full each month. keeps you in debt longer and could ultimately drag down your credit scores. Doing so also avoids costly late fees. Paying in full every month also helps keep utilization in check. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Build credit alongside hundreds of thousands of Petal card members. With the, , youll have the potential to gain access to a higher credit line. Paying in full every month also helps keep utilization in check. 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. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) Get pre-approved in seconds with no impact to your credit score. MORE: 11 things you should know before getting your first credit card. 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. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. 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. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. Terms apply.) If youre rejected for a credit card, the first thing to do is determine why. Just a dollar-for-dollar match. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. $0 annual fee, $0 activation fees, $0 foreign transaction fees. 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 Bear in mind that not all lenders define fair credit the same way. 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. So if you havent checked your credit score in a while, make sure to do so before applying. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. through NerdWallet.) Theres no minimum spending or maximum rewards. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. 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. 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? Capital One QuicksilverOne Cash Rewards Credit Card: Best for flat-rate rewards The Capital One QuicksilverOne card gives people with fair credit the chance to earn 5 percent cash back. 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. 7. What are the easiest credit cards to get approved for? Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. FULL LIST OF EDITORIAL PICKS: shines with its no-maintenance rewards structure and student-friendly bonus categories. Using multiple credit cards for the wrong reasons, however, can get you into big trouble. Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. 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. Credit utilization. Recent credit applications. All financial products, shopping products and services are presented without warranty. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. If your credit is at least fair, you can find cards that charge no annual fee at all. 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. If you still arent approved, it may be a sign you need to work on your credit scores before applying again. If your credit is at least fair, you can find cards that charge no annual fee at all. Many fees are avoidable, especially if you use the card responsibly. 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. 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). The Capital One QuicksilverOne Cash Rewards Credit Card, for example, charges an annual fee of $39. 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. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) Platinum Credit Card from Capital One gives newcomers to credit a powerful incentive to develop responsible habits. The card issuer reports details about your account to the major. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.show more show less. These are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. might appeal to you. Here is a list of our partners. When comparing credit cards for fair credit, look for some or all of these features: Reports to the major credit bureaus: Experian, Equifax and TransUnion are the three major bureaus that compile the credit reports that inform your credit scores. 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. See what terms you'd qualify for without a hard credit inquiry. Ideally, you wont be stuck in the fair credit score range forever, so look for a card that offers a route to improved terms. 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. And if you already have a long-serving credit account. 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. - Business Insider - Fact Check and Transparency Report (United States) . And if you're approved, you can begin using your credit line immediately no need to wait for the physical 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 What's the difference between fair and average credit? 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 is a worthy contender for your wallet as you continue building credit. 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. Credit scores can fluctuate by 100 points in a single month, so graduating to a higher credit level doesnt have to take too long. , the first thing to do is determine why. You may qualify for better terms with a traditional personal loan, depending on your financial situation. A credit score in or above the recommended range means you have a higher chance of approval, but doesnt guarantee it. 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. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. 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. 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. Let Bankrate, a leader . The lower your utilization, the better; 30% or below is a good benchmark. Credit . 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. 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. 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. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. With the Capital One QuicksilverOne Cash Rewards Credit Card, youll have the potential to gain access to a higher credit line. But you can achieve that effect with a collection of cards that each excel in a particular area. What We Dont Like:You need to wait several months until youre able to qualify for a truly competitive rewards rate. Read our review. 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. Alternatives to Consider:There are several really good credit cards for students available right now. The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. Perhaps most importantly, though, this card will consider applicants with limited-to-fair credit history. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. . Best credit card overall for fair credit Petal 2 "Cash Back, No Fees" Visa Credit Card 9.5/10 CNET Rating Card Highlights Intro Offer N/A APR 17.49% - 31.49% (Variable) Intro. 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. See if you're pre-approved within minutes without impacting your credit score. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. By clicking "Accept All", you consent to our use of cookies. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. This ensures that your on-time payments and other responsible credit habits will be recorded. The best cards from this segment include options that let you earn rewards/cash back and ones that do away with annual fees. 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. 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. Plus, the ongoing APR is on the high end at. You can also borrow against your credit limit, much like a personal loan. 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. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. Best Low Interest Credit Cards for Fair Credit. Well give you a personalized card recommendation based on your latest credit score and financial priorities. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. Discover it Student Cash Back: Best feature: Student rewards. A hallmark of cards for fair credit is high interest rates. You can get the Discover it Secured Credit Card with a bad credit score (below 640). 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) Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. And thats great news, considering the best credit card deals require good or excellent credit for approval. Many or all of the products featured here are from our partners who compensate us. Fair 600-699. You can see and track your credit score for free through NerdWallet. Read our review. 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. First Progress Platinum Prestige Mastercard Secured Credit Card. Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Therefore, you typically dont have to worry about a hard pull on your credit report. No problem. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. Earn 1% cash back on all your purchases. There's also Discover's signature bonus for new cardholders. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. You can be automatically considered for a higher credit limit in as little as six months. 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. The key difference is that this version charges an annual fee while the regular one does not. And the card doesn't charge foreign transaction fees. 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. It also has a $35 annual fee. Dont pay late: Make at least the minimum payment, and do so on time each month. 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. No annual or hidden fees. 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. 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) ? Debit cards allow you to spend money by drawing on funds you have deposited at the bank. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. What is considered fair or average 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. If you feel you have a case, you can contact the issuer and ask for reconsideration. Our partners compensate us. 1. 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. Standard message rates apply. Generally speaking, a FICO score that's considered "fair" will fall between . 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. Its lighter on the fees than some unsecured credit cards for less-than-perfect credit and it offers rewards.
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