Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 2. The Petal 1 "No Annual Fee" Visa Credit Card, issued by WebBank, is an excellent option for those with less-than-perfect credit. Comparing credit cards for fair credit can be tough. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. 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. Does each credit card company define "fair" credit the same way? The Petal 2 Card also offers 1 - 1.5% cash back. Its always a good idea to shop around before picking out an unsecured credit card for fair credit. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. 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. 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? Theres also no annual fee and no foreign transaction fee. , the first thing to do is determine why. The prequalification process allows you to check your offer without any effect on your credit score. 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. 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. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees. 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. You may qualify for better terms with a traditional personal loan, depending on your financial situation. Mobile app to access your account anytime, anywhere. Plus, earn unlimited 1% cash back on all other purchases automatically. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. There's a $39 annual fee. 6 Best Credit Cards for Fair Credit (March 2023) - WalletHub 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. With responsible use, you can be considered for a higher credit line in as little as six months. OpenSky Secured Visa Credit Card. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. Actual terms may vary. The Petal 1 "No Annual Fee" Visa Credit Card doesnt offer this option. 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 you work to push your scores into the good-to-excellent range, its important that youre able to track how youre doing. 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. This content is not provided or commissioned by any issuer. 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. Yes, you can get a credit card if you have fair credit. Best Credit Cards for Fair Credit in February 2023. The Brex Corporate Card for Startups is one of the best fair-credit credit cards for business. Capital One . 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. keeps you in debt longer and could ultimately drag down your credit scores. Paying in full every month also helps keep utilization in check. Best Credit Cards for Fair/Average Credit for March 2023 Discover it Student Cash Back: Best feature: Student rewards. Best Credit Cards for Fair Credit | CompareCards.com If you've already built good credit, you can probably score a card with higher rewards than this card offers. (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. Alternatives to Consider:The Capital One Platinum Credit Card and the Petal 2 Visa Credit Card are both great options to consider. You can see and track your credit score for free through NerdWallet. You can opt-out of sharing your personal info here. The key difference is that this version charges an annual fee while the regular one does not. 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. 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. Just hover your card over a contactless reader, wait for the confirmation, and you're all set. Before applying, confirm details on the issuers website. has a prequalification process that lets you see the offer you're eligible for without a "hard" credit check that can ding your scores. Credit . You can get the Discover it Secured Credit Card with a bad credit score (below 640). (Unlike with Discover's other student card, you don't have to "activate" your bonus rewards.) 6 Best Business Credit Cards for Fair Credit (2023) - WalletHub Some rewards-earning options are listed above. 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. And if you already have a long-serving credit account. 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). Both can make it easy and convenient to make purchases in stores or online, with one key difference. 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. 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. It also comes with a cool 1.5% cash back on every purchase and an annual fee of . See if you're pre-approved within minutes without impacting your credit score. Foreign transaction fee: 1% of the transaction amount. At that point, youll probably have a good sense of why you were rejected. There are good credit cards designed for people with fair credit, but you're unlikely to get approved for the. If youre a few days late, youll likely owe a late fee. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. Its free, activate with the mobile app. 11 Unsecured Credit Cards For Fair Credit (2023) - CardRates.com (The typical credit score scale runs from 300 at the low end to a maximum of 850.). Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. The OpenSky Secured Visa Credit Card is one of the easiest credit cards to get with fair credit. No single credit card offers the best rewards in every purchase category, plus the lowest rates and fees. annual fee. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. The $0-annual-fee Upgrade Cash Rewards Visa can be an ideal choice if you plan to carry a balance, want the convenience of equal monthly debt repayments and can pre-qualify for a favorable interest rate. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. You can also borrow against your credit limit, much like a personal loan. We're sorry, but after searching our extensive database, we were unable to locate any credit cards that match the following criteria: {{tag.tag}}{{$last ? '' A hallmark of cards for fair credit is high interest rates. The 1.5% rewards rate is on par with that offered by many cards for good or excellent credit. But there are unsecured cards for every credit level, including bad credit. You want your scores to go up, not down. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Best Credit Cards for Fair or Average Credit of March 2023 That will help cardholders build positive credit history, as long as they manage the account responsibly. And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. No annual fee and build your credit with responsible use. . 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. Credit Cards for Fair Credit | Capital One 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 . Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. WalletHub makes it easy to find the best credit cards for fair credit. 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. 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. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Dont pay late: Make at least the minimum payment, and do so on time each month. Best Credit Cards - NerdWallet OpenSky Secured Visa Credit Card. Be automatically considered for a higher credit line in as few as 7 months. 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. 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. You can check out the panels bios and responses below. Why We Like It:QuicksilverOne offers 1.5% cash back on all purchases nearly 50% more than the average cash rewards card provides. - Business Insider - Fact Check and Transparency Report (United States) . If you like what you see, you can apply, at which point there will be a "hard" credit pull. People with fair credit are riskier applicants; and because of this higher risk, you might receive a credit card with a lower limit. Researcher. Doing so also avoids costly late fees. You increase your odds of approval when you apply for a card tailored for your score range. 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. Make at least the minimum payment, and do so on time each month. FULL LIST OF EDITORIAL PICKS: What to know before applying for a credit card, , its important to know your credit score. These companies collect the information used to calculate your credit scores. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. It depends on personal preference as well as your credit standing and organizational skills. is a great option for people who aren't sure whether their credit is good enough to qualify for a rewards card. If youre not sure how your credit is doing, you can check your latest credit score for free on WalletHub, the only site where credit scores and reports update daily. This reporting affects key elements of your scores: Payment history. (For example, if you have a $500 credit limit and a $200 balance, then your credit utilization is 40%.) 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 second-largest factor in your scores, credit utilization is the amount you owe as a percentage of your available credit. 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. 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. No credit score? Its worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. Discover will automatically match all the cash back youve earned at the end of your first year! Pre-qualified offers are not binding. 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. If possible, pay off your balance in full each month. If eligible, we'll create your Cash Score instead. 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. Although the name is a mouthful, this card is an excellent option for people with fair credit. Best Credit Cards for Fair/Average Credit of 2023 | CreditCards.com If you feel you have a case, you can contact the issuer and ask for reconsideration. Theres no minimum spending or maximum rewards. John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. 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. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. Youll be reviewed for regular credit line increases. Compare Capital One's options for every credit level to find the card that's right for you. Capital One QuicksilverOne Cash Rewards Credit Card. Even though its promotional interest rate is . The ongoing APR is 29.74% Variable APR, which is steep if you plan on carrying a balance. The Best Credit Cards for Average or Fair Credit of March 2023. Business Insider 8h ago. Simplicity makes the Discover it Student chrome a standout for students searching for their first credit card. If you do make a late payment, the card doesn't impose a penalty APR. Discover it Student chrome: Best feature: Rewards for students. We encourage everyone to share their knowledge while respecting our, Answer provided by user: {{ans.user_fullname}}. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. The lower your utilization, the better; is a good benchmark. $0 intro with auto pay, then $39 after first year. Capital One QuicksilverOne Cash Rewards Credit Card. Some rewards-earning options are listed above. $0 annual fee, $0 activation fees, $0 foreign transaction fees. Enjoy peace of mind with $0 Fraud liability. U.S. News' Best Credit Cards for Fair Credit of 2022 | U.S. News This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. 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. Bankrate's experts compare hundreds of top credit cards and credit card offers to select the best in cash back, rewards, travel, business, 0% APR, balance transfer and more. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. 7 Best Credit Cards for a 600 Credit Score (With Approval Odds) 1. Try to put everything into dollar terms. Cards For Fair Credit With Instant Approval and No Annual Fee. if the card offers enough rewards and benefits to outstrip the cost of carrying it. There are lots of really good credit card for fair credit offers on the market right now. . doesnt only rely on credit scores to determine eligibility. The issuer automatically reviews your account for potential credit line increases. 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. Best Credit Cards for Fair Credit of 2022 - Experian It also earns 1.5% cash back on all purchases. Credit One Bank Platinum Visa for Rebuilding Credit, Capital One Quicksilver Secured Cash Rewards Credit Card, Bank of America Travel Rewards Credit Card for Students. If you're crypto-crazy, or just crypto-curious, the $0-annual-fee Upgrade Bitcoin Rewards Visa Credit Card might appeal to you. You can also redeem rewards as a statement credit. 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 -. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. 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. 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. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. 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. 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. The second-largest factor in your scores. 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. Fair credit, also referred to as "average" credit, is a step up from bad credit but a notch below good credit. 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. And if you already have a long-serving credit account, keep it open and active. Before applying for a credit card, its important to know your credit score. A hallmark of cards for fair credit is high interest rates. NerdWallet strives to keep its information accurate and up to date. Virgin Atlantic Flying Club: Get a . It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. 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. . And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. Perhaps most importantly, though, this card will consider applicants with limited-to-fair credit history. gives newcomers to credit a powerful incentive to develop responsible habits. Best Credit Cards of March 2023 | Bankrate You can also borrow against your credit limit, much like a personal loan. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. 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. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. The annual fee is $0. 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. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. 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. Just answer a few questions and we'll narrow the search for you. 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. 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. What to avoid with credit cards for fair credit. That's important to keep in mind as you work to build a positive credit history, especially if you carry a balance. Therefore, you typically dont have to worry about a hard pull on your credit report. Best Unsecured Credit Cards of March 2023. All financial products, shopping products and services are presented without warranty. If you do make a late payment, the card doesn't impose a penalty APR. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Best High-Limit Credit Cards for March 2023 - CNET 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months. Whether you want to pay less interest or earn more rewards, the right card's out there. WalletHub actively maintains a database of 1,500+ credit card offers, from which we select the best credit cards for fair credit for different applicants as well as derive market-wide takeaways and trends. First Progress Platinum Prestige Mastercard Secured Credit Card. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards.