If you still arent approved, it may be a sign you need to work on your credit scores before applying again. 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 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 can see and track your credit score for free through NerdWallet. With responsible use, you can be considered for a higher credit line in as little as six months. Platinum Credit Card from Capital One Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. 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. gives newcomers to credit a powerful incentive to develop responsible habits. These cards can help you if you're just starting out with credit or are working to get back on track. WalletHub experts track 1,500+ offers to help you get the right credit card for average credit, By John Kiernan, Credit Card Editor Feb 27, 2023, Fact Checked: Alina Comoreanu, Sr. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. OpenSky Secured Visa Credit Card. If eligible, we'll create your Cash Score instead. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. What to know before applying for a credit card, , its important to know your credit score. $0 intro with auto pay, then $39 after first year. 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. 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. 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. Some rewards-earning options are listed above. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. 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. 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. 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. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. 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. If you've already built good credit, you can probably score a card with higher rewards than this card offers. 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. Best for earning cash back with fair credit Capital One QuicksilverOne Cash Rewards Credit Card Apply Now On Capital One's Website 2.3 Up to 5% Reward Rate Earn unlimited 1.5% cash back. isn't going to wow anyone; there's no sign-up bonus and the APR is high. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. You want your scores to go up, not down. 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. Read our review. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. What We Dont Like:This card is not a good option for carrying a balance from month to month, thanks to a fairly high APR. Instantly access 50% of your credit while your card ships to you. Discover it Student Cash Back: Best feature: Student rewards. And college students dont need a credit score, or any credit experience, to get one of Discovers two student credit cards. No interest on purchases when you pay in full and on time each month. OpenSky Secured Visa Credit Card. Generally speaking, a FICO score that's considered "fair" will fall between . At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. You may qualify for better terms with a traditional personal loan, depending on your financial situation. 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. Plus, Discover says there's no FICO history requirement for this card. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. Credit Score Requirements: Poor 500-599. N/A. 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 OR AVERAGE 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. Why We Like It:It has a $0 annual fee and gives at least 1% cash back on all eligible purchases. 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. Length of credit history. 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. Who Should Get It: Apply for the Capital One Platinum Credit Cardif you want an inexpensive starter card to build credit with. See what terms you'd qualify for without a hard credit inquiry. 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. This content is not provided or commissioned by any issuer. But you need at least good credit for all the other offers, including Discover it Miles and Discover it Cash Back, two of the most popular options. Plus, earn unlimited 1% cash back on all other purchases automatically. The lower your utilization, the better; 30% or below is a good benchmark. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. You may also qualify for better terms with a traditional personal loan, depending on your financial situation. You would need to spend $2,600 per year on the card to make that back (not including any 5% travel categories). Both can make it easy and convenient to make purchases in stores or online, with one key difference. That's a big reason why the term "fair credit" is often used to describe scores in the middle ground between bad and good. Rejection stings, but you can learn from it. 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. You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. The Discover it Student chrome shines with its no-maintenance rewards structure and student-friendly bonus categories. Please download one of these up-to-date, free and excellent browsers: Enter your cell phone number and well send you a link to install the WalletHub app. Discover will automatically match all the cash back youve earned at the end of your first year! , including your payment history, the amount of available credit that youre using, how long youve had credit, and more. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. But you can achieve that effect with a collection of cards that each excel in a particular area. Credit cards for fair credit target consumers with FICO scores between 580 and 669. Great for large purchases with predictable payments you can budget for. Store credit cards can offer deferred interest to people with fair credit. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. $0 annual fee, $0 activation fees, $0 foreign transaction fees. Find & compare credit cards from Mastercard that offer a higher chance of approval for people with average credit. Lets take a look at Discovers offers and what score you need to get approved. Click through to Discovers website to see terms and conditions. This ensures that your on-time payments and other responsible credit habits will be recorded. and cards for fair credit tend to have high interest rates. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases. 2. Best For Credit Score Annual Fee Welcome Bonus Citi Premier Card Best Overall Card for Gas Excellent, Good $95 60,000 bonus points Platinum Rewards Visa Signature Card Best. 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. Earn a credit limit increase in as little as 6 months. FULL LIST OF EDITORIAL PICKS: The scoring formulas take into account multiple data points for each financial product and service. See what terms you'd qualify for without a hard credit inquiry. See if you're pre-approved within minutes without impacting your credit score. Doing so also avoids costly late fees. Some offer rewards, perks, upgrade paths and even 0% introductory APR periods. Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. Carrying a balance from month to month wont be cheap, either. Earn 1.5% unlimited cash back on card purchases every time you make a payment. And the card doesn't charge foreign transaction fees. 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. You can also borrow against your credit limit, much like a personal loan. It also earns up to 10% cash back when you use the card to make purchases with select merchants. 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. 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). The average FICO credit score in the United States in 2022 was 716, according to the company that manages the FICO scoring model. 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. The terms "fair credit" and "average credit" are used more or less interchangeably within the credit cards industry to describe scores in the middle ground between good credit and bad credit. 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. 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. Petal's mobile app makes it easy to manage your money, track your spending, and automate payments. 5. Instead, it assesses your creditworthiness based on your income, expenses, savings and debts. Best Unsecured Credit Cards of March 2023. Interest rates on credit cards for average credit tend to be on the high side. No annual fee and build your credit with responsible use. WalletHub makes it easy to find the easiest credit cards to get. 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. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. 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. 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. -annual-fee option with an incentive for responsible behavior. John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. With the, , youll have the potential to gain access to a higher credit line. 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. No problem. Furthermore, fair credit is far from a life sentence. You also get a free FICO score, low fees, and forgiveness for your first late payment. There's a quick pre-qualification process with no impact to your credit score, modest interest rate and an annual fee of $35 - $99. The prequalification process allows you to check your offer without any effect on your credit score. At that point, youll probably have a good sense of why you were rejected. , which is steep if you plan on carrying a balance. So how do we make money? Paying in full every month also helps keep utilization in check. 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). What makes this card valuable is that it's available to business operators with fair credit (a FICO score between 630-689), who don't have a lot of options in business credit cards and it has no annual fee. Get started with your free credit score. Doing so also avoids costly late fees. Navy Federal Credit Union Platinum Credit Card *. The key difference is that this version charges an annual fee while the regular one does not. Before applying, confirm details on the issuers website. Foreign transaction fee: 1% of the transaction amount. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. News Summary: 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. Journey Student Rewards from Capital One. Alternatives to Consider:There are several really good credit cards for students available right now. 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. Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Some may have slightly lower standards, for example, starting the fair credit range as 620 and ending it at 659. The top features: Earn 1% . Our partners cannot pay us to guarantee favorable reviews of their products or services. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. It typically means your credit scores fall in the range of 630-689 on a, Credit scores indicate your level of risk to potential lenders and are based on.

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