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Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . Earn 1.5% unlimited cash back on card purchases every time you make a payment. $0 annual fee, $0 activation fees, $0 foreign transaction fees. The Petal 2 Card also offers 1 - 1.5% cash back. If you like what you see, you can apply, at which point there will be a "hard" credit pull. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. There are lots of really good credit card for fair credit offers on the market right now. 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. Some Discover offers listed here are not currently available on WalletHub and may be out of date. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" 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. 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) ? 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. Just a dollar-for-dollar match. The Capital One SavorOne Student Cash Rewards Credit Card is one of the best credit cards for students with fair credit. 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; 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. Fair credit wont qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. 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. Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. Doing so also avoids costly late fees. It depends on personal preference as well as your credit standing and organizational skills. a standout for students searching for their first credit 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. Terms apply, Monitor your credit score with CreditWise from Capital One. There's a $39 annual fee. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an 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. Free, online credit score access for cardholders. Roughly 13.5% of people have fair credit, according to WalletHub data. 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. The issuer's prequalification process lets you see the offer you're eligible for before you actually apply. 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. You'll earn bonus cash back at restaurants and gas stations with no activation required and no rotating categories to keep track of. A credit score in or above the recommended range means you have a higher chance of approval, but doesnt guarantee it. But there's still value to be had from fair-credit credit cards, and you dont have to stay in this particular creditworthiness tier for long. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards potential savings. These companies collect the information used to calculate your credit scores. A credit card application usually triggers a. on your credit report. Find & compare credit cards from Mastercard that offer a higher chance of approval for people with average credit. What We Dont Like:Youll have to pay the bill in full every month, which limits the cards value for some business owners. shines with its no-maintenance rewards structure and student-friendly bonus categories. Compare Capital One's options for every credit level to find the card that's right for you. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Read our review. When you pay in full, you don't get charged interest and cards for fair credit tend to have high interest rates. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. 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. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. Ideally, you wont be stuck in the fair credit score range forever, so look for a card that offers a route to improved terms. (If you go through with applying, then there's a hard check.) If you've already built good credit, you can probably score a card with higher rewards than this card offers. offers those with average credit a chance to both earn rewards and, potentially, gain access to a higher credit line. Carrying a balance from month to month wont be cheap, either. You can also borrow against your credit limit, much like a personal loan. 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. Credit cards for fair credit target consumers with FICO scores between 580 and 669. 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. 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. What We Dont Like:This card does not offer rewards or a low interest rate. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. With responsible use, you can be considered for a higher credit line in as little as six months. There's also Discover's signature bonus for new cardholders. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. If youre a few days late, youll likely owe a late fee. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. 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. The higher your credit score on either model's scale, the more creditworthy you may appear to potential lenders. And if you have more than one need, you can get multiple cards and use the Island Approach. And unlike some other cash-back cards, it doesn't allow you to boost your rewards earnings with bonus categories. If you are charged interest, the charge will be no less than $0.50. Banks are required to notify you if you were denied because of information in your credit report. Graduating to good credit could take as little as one month, depending on your circumstances. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. You can opt-out of sharing your personal info here. You want your scores to go up, not down. 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. A fair credit score is usually defined as any score in the range of 640-699. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). Store credit cards can offer deferred interest to people with fair credit. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. The best credit cards for people with fair credit scores of 640-699 come with $0 annual fees, rewards of at least 1% back on purchases and monthly credit-bureau reporting, making it easy to build credit and save money. Its free, activate with the mobile app. Why dont more banks and credit unions offer credit cards to people with fair credit? Terms apply.) 7 Best Credit Cards for a 600 Credit Score (With Approval Odds) - AllCards.com We value your privacy We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. You also get a free FICO score, low fees, and forgiveness for your first late payment. Some even give rewards of 1% or more. . 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. 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 your credit score is in the average or fair range of 580 to 669, these credit cards are among the best and some even offer rewards and benefits. 1. 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. If you still arent approved, it may be a sign you need to work on your credit scores before applying again. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. 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. 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 What to know before applying for a credit card, , its important to know your credit score. If possible, pay off your balance in full each month. Generally speaking, a FICO score that's considered "fair" will fall between . Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. Disclaimer: NerdWallet strives to keep its information accurate and up to date. But you can achieve that effect with a collection of cards that each excel in a particular area. You might be able to get a better card than you think. Foreign transaction fee: 1% of the transaction amount. 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. Annual Fee: $39 (waived for the first year if you sign up for AutoPay before your first statement). People with fair credit are riskier applicants; and because of this higher risk, you might receive a credit card with a lower limit. Why We Like It:QuicksilverOne offers 1.5% cash back on all purchases nearly 50% more than the average cash rewards card provides.