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Heres the minimum credit score needed for each Discover card: There arent any Discover cards that flat-out require excellent credit, currently. 1. If you do make a late payment, the card doesn't impose a penalty APR. Who Should Get It:Apply for the Brex Corporate Card for Startups if youre a small business owner with limited to fair credit who wants to earn rewards on everyday purchases. earns rewards on par with cards for good or excellent credit. See if you're pre-approved within minutes without impacting your credit score. What are some low interest credit cards for fair credit? As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. NerdWallet's ratings are determined by our editorial team. If you feel you have a case, you can contact the issuer and ask for reconsideration. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . Perhaps most importantly, though, this card will consider applicants with limited-to-fair credit history. Paying in full every month also helps keep utilization in check. The annual fee is $0. , the first thing to do is determine why. The following offers didnt quite make the cut for our editors best-card selections, but they can still save cardholders a lot of money. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. N/A. The. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. Some even give rewards of 1% or more. So how do we make money? That's because this entry-level card doesn't charge an annual fee or foreign transaction fees. 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. Try not to carry a balance: Interest rates on credit cards for average credit tend to be on the high side. 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. 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. Capital One Platinum Credit Card. Why We Like It : QuicksilverOne offers 1.5% cash back on all purchases - nearly 50% more than the average cash rewards card provides. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. This ensures that your on-time payments and other responsible credit habits will be recorded. 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. The Petal 1 "No Annual Fee" Visa Credit Card is a worthy contender for your wallet as you continue building credit. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. Its free, activate with the mobile app. It earns 1.5% back in the form of Bitcoin when you pay your bill. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). And if you have more than one need, you can get multiple cards and use the Island Approach. 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. 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) First Progress Platinum Prestige Mastercard Secured Credit Card. There is a fine line between fair credit and good credit. Yes, you can get a credit card if you have fair credit. Read our review. You can be automatically considered for a higher credit limit in as little as six months. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. In particular, we focused on cards with low annual fees and high rewards rates, including general-purpose credit cards as well as store credit cards. 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. 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. 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. 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. The Petal 2 Visa Credit Card is one of the best credit cards for people with fair credit, or even limited credit. 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. But they may still offer rewards. 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. and cards for fair credit tend to have high interest rates. Comparing credit cards for fair credit can be tough. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) 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. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. Length of credit history. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Free, online credit score access for cardholders. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. Capital One . 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. When you pay in full, you don't get. Youll also usually keep the same account, often with the same card number, so theres no loss of credit history length. You want your scores to go up, not down. This reporting affects key elements of your scores: Payment history. Before applying for a credit card, its important to know your credit score. Pretty much all credit cards for fair credit are unsecured, though. Conversely, a higher score that one issuer still sees as fair credit might qualify as good credit to a different issuer. 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. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. What We Dont Like:If you dont have an active college email address, you may have a tough time qualifying. If your credit is at least fair, you can find cards that charge no annual fee at all. might appeal to you. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. What We Dont Like:Youll have to pay the bill in full every month, which limits the cards value for some business owners. The average FICO credit score in the United States in 2022 was 716, according to the company that manages the FICO scoring model. You can check out the panels bios and responses below. The prequalification process allows you to check your offer without any effect on your credit score. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Zero fraud liability (which offers protection against unauthorized purchases). Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. Customize Reject All Accept All Customize Consent Preferences , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. All financial products, shopping products and services are presented without warranty. 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 Making only the minimum payment keeps you in debt longer and could ultimately drag down your credit scores. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. The average person with fair credit is 47 years old and has an annual income of $54,000 per year. Click through to Discovers website to see terms and conditions. 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. The higher your credit score on either model's scale, the more creditworthy you may appear to potential lenders. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. Try to put everything into dollar terms. 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. If you are charged interest, the charge will be no less than $0.50. Fair 600-699. If youre rejected for a credit card, the first thing to do is determine why. It also earns up to 10% cash back when you use the card to make purchases with select merchants. through NerdWallet.) . Pre-qualified offers are not binding. 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. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. Terms apply; (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. There are no rewards. No touch payments with contactless technology built in. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. 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. The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. You also get a free FICO score, low fees, and forgiveness for your first late payment. 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. One the VantageScore scale developed by the credit bureaus, the average score in 2022 was 698. You can also redeem rewards as a statement credit. The Journey Student Rewards from Capital One gives newcomers to credit a powerful incentive to develop responsible habits. -annual-fee option with an incentive for responsible behavior. Banks are required to notify you if you were denied because of information in your credit report. 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. 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. You might qualify for less or no cash back at all. You also have to use that card responsibly, by paying the bill on time every month and not maxing out your credit limit. We encourage everyone to share their knowledge while respecting our, Answer provided by user: {{ans.user_fullname}}. Build credit alongside hundreds of thousands of Petal card members. When evaluating offers, please review the financial institutions Terms and Conditions. This content is not provided or commissioned by any issuer. 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. WalletHub makes it easy to find the best credit cards for fair credit. shines with its no-maintenance rewards structure and student-friendly bonus categories. 2. 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. 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. a standout for students searching for their first credit card. $0 intro with auto pay, then $39 after first year. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. . It earns 1.5% back in the form of Bitcoin when you pay your bill. So you could turn $50 cash back into $100. 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. But they may still offer rewards. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. gives newcomers to credit a powerful incentive to develop responsible habits. 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. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. 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. If you feel you have a case, you can contact the issuer and. If you do make a late payment, the card doesn't impose a penalty APR. See if you qualify in minutes without hurting your credit score. (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) Best for cash back: Capital One QuicksilverOne Cash Rewards Credit Card. Terms and conditions apply. 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. Credit cards for fair or average credit can help you move up to good or excellent credit when you use them responsibly. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. It also earns up to 10% cash back when you use the card to make purchases with select merchants. The annual fee is $0. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Mobile app to access your account anytime, anywhere. Petal 1 Visa Credit Card. 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. These cards can help you if you're just starting out with credit. Just answer a few questions and we'll narrow the search for you. 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. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. 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. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. isn't going to wow anyone; there's no sign-up bonus and the APR is high. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. 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 also earns 1.5% cash back on all purchases. Why We Like It:There is no credit check when you apply, so a rocky credit history wont prevent you from getting approved. See if you're approved in seconds, Help build your credit through responsible use of a card like this, Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app, Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you. Who Should Get It:Apply for the Petal 2 Visa Card if you have limited to fair credit, plan to pay the bill on time and in full every month, and expect to keep the account open for more than a year. 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. You can also borrow against your credit limit, much like a personal loan. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. See what terms you'd qualify for without a hard credit inquiry. Before applying, confirm details on the issuers website. 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. FULL LIST OF EDITORIAL PICKS: or are working to get back on track. No interest on purchases when you pay in full and on time each month. 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 annual fee is $0. But there are unsecured cards for every credit level, including bad credit. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. 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. 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. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. Foreign transaction fee: 1% of the transaction amount. 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. Please let us know if you notice any differences. You want your scores to go up, not down. As a result, the card offers a potentially generous credit limit that ranges between $300 and $5,000, depending on eligibility. The fee is $0 intro with auto pay, then $39 after first year. Best Overall Unsecured Card For Fair Credit The Capital One Platinum Credit Card has everything that someone with average credit could want in a card.

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