1. Why We Like It:It has a $0 annual fee and gives at least 1% cash back on all eligible purchases. 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 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. And while your initial credit limit may be lower than you'd like, you can earn quick credit limit increases with consecutive on-time payments. No annual fees, no foreign transactions fees. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. WalletHub makes it easy to find the best credit cards for fair credit. 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. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. BEST CREDIT CARDS FOR FAIR OR AVERAGE CREDIT. 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. annual fee. 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. Many fees are avoidable, especially if you use the card responsibly. shines with its no-maintenance rewards structure and student-friendly bonus categories. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. . 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. 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. And if you have more than one need, you can get multiple cards and use the Island Approach. Build credit alongside hundreds of thousands of Petal card members. 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. The simple way to earn bitcoin: make purchases on your card, make payments, earn bitcoin. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. Some even give rewards of 1% or more. Cardholders' accounts are reviewed for a potential credit line increase every three months. Petal reports to all 3 major credit bureaus. 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; 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. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards 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. 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. Petals algorithm looks beyond credit scores by analyzing your bank information to determine how you manage income, savings and spending. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Some rewards-earning options are listed above. 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). 1. 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. If your credit is at least fair, you can find cards that charge no annual fee at all. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. Fair credit wont qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. There's a $39 annual fee. Earn 1.5% unlimited cash back on card purchases every time you make a payment. Whether you want to pay less interest or earn more rewards, the right card's out there. 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. With that being said, its not just your credit score you should worry about. Just a dollar-for-dollar match. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. Pay with your phone or device by using Apple Pay or Google Pay. (If you go through with applying, then there's a hard check.) And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. Terms apply; 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. If you like what you see, you can apply, at which point there will be a "hard" credit pull. Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any issuer. These companies collect the information used to calculate your credit scores. 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. There are no rewards. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. 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. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. There are plenty of cards to choose from, so check out WalletHubs editors picks for the best credit cards for fair credit to find the best one for you. You can be automatically considered for a higher credit limit in as little as six months. Learn how NerdWallet rates credit cards. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. If you're looking to beef up your credit, it's a decent place to start. The annual fee is $0. What We Dont Like:This card does not offer rewards or a low interest rate. 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. This may influence which products we write about and where and how the product appears on a page. Using multiple credit cards for the wrong reasons, however, can get you into big trouble. Best Unsecured Credit Cards of March 2023. Let Bankrate, a leader . You may be hit with an annual fee, a lower credit limit or higher interest rates, but some . Zero fraud liability (which offers protection against unauthorized purchases). 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The second-largest factor in your scores. The card issuer reports details about your account to the major. But they may still offer rewards. The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. 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 Platinum Credit Cardis the best credit card for fair credit overall. is the amount you owe as a percentage of your available credit. Dont settle: With fair credit, you wont be eligible for the highest-end credit cards but good cards are still available at this level. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. Best for cash back: Capital One QuicksilverOne Cash Rewards Credit Card. The Petal 2 Card also offers 1 - 1.5% cash back. 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 -. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. 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. Pretty much all credit cards for fair credit are unsecured, though. This card offers at least 1% cash back on all eligible purchases, up to 1.25% back after 6 months of on-time payments, and 1.5% cash back after 12 consecutive months of paying on time. Great for large purchases with predictable payments you can budget for. Access your account anytime, anywhere with our mobile app. If you feel you have a case, you can contact the issuer and ask for reconsideration. Store credit cards can offer deferred interest to people with fair credit. Cardholders earn 1 - 5% cash back on purchases, depending on the spending category, plus an initial bonus of $50 for spending $100 in the first 3 months. If possible, pay off your balance in full each month. Pre-qualified offers are not binding. earns rewards on par with cards for good or excellent credit. Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. Plus, Discover says there's no FICO history requirement for this card. 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. There's also Discover's signature bonus for new cardholders. See what terms you'd qualify for without a hard credit inquiry. Dont pay late: Make at least the minimum payment, and do so on time each month. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. 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. Capital One QuicksilverOne Cash Rewards Credit Card, Petal 1 "No Annual Fee" Visa Credit Card, Best for Cash back earned with select merchants, on Discover's website, or call 800-347-0264, Best for College students and young adults, Best for Prequalification + up to 1.5% cash back, Best for Help for 'less than perfect credit', Upgrade Bitcoin Rewards Visa Credit Card. Fair 600-699. No touch payments with contactless technology built in. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. See what terms you'd qualify for without a hard credit inquiry. Therefore, you typically dont have to worry about a hard pull on your credit report. Its worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. 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. You can get the Discover it Secured Credit Card with a bad credit score (below 640). Length of credit history. The annual fee is $0. Annual fee of $0. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. . It earns 1.5% back in the form of Bitcoin when you pay your bill.
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