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. 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. a standout for students searching for their first credit card. Plus, earn unlimited 1% cash back on all other purchases automatically. This may influence which products we write about and where and how the product appears on a page. 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. 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. If you're looking to beef up your credit, it's a decent place to start. There's a quick pre-qualification process with no impact to your credit score, modest interest rate and an annual fee of $35 - $99. . Rejection stings, but you can learn from it. 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. John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. You can also redeem rewards as a statement credit. The second-largest factor in your scores, credit utilization is the amount you owe as a percentage of your available credit. 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. Earn 1% cash back on all your purchases. Our opinions are our own. or are working to get back on track. 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. 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. 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. However, this does not influence our evaluations. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. If you're looking to beef up your credit, it's a decent place to start. A credit card application usually triggers a hard inquiry on your credit report. Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any issuer. Capital One . . The key difference is that this version charges an annual fee while the regular one does not. Best credit cards for fair and average credit Best for No Fees: Petal 2 "Cash Back, No Fees" Visa Credit Card Best for Cash Back: Capital One QuicksilverOne Cash Rewards Credit Card. Virgin Atlantic Flying Club: Get a . Roughly 13.5% of people have fair credit, according to WalletHub data. We encourage everyone to share their knowledge while respecting our content guidelines. is a worthy contender for your wallet as you continue building credit. 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. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. If your credit is at least fair, you can find cards that charge no annual fee at all. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. That's because this entry-level card doesn't charge an annual fee or foreign transaction fees. No touch payments with contactless technology built in. You can then choose up to four cards and get a side-by-side comparison to make the best pick for your needs to get a credit card with fair credit. The annual fee is $0. A hallmark of cards for fair credit is high interest rates. , issued by WebBank, is an excellent option for those with less-than-perfect credit. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. 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. There are no rewards. If you plan to travel internationally, make sure you have a backup plan. Although there's no foreign transaction fee, Discover isnt as widely accepted abroad as other cards. What We Dont Like:You need to wait several months until youre able to qualify for a truly competitive rewards rate. And the card doesn't charge foreign transaction fees. 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) Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. The Upgrade Cash Rewards Visa earns rewards on par with cards for good or excellent credit. Some may have slightly lower standards, for example, starting the fair credit range as 620 and ending it at 659. gives newcomers to credit a powerful incentive to develop responsible habits. 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 scores can fluctuate by 100 points in a single month, so graduating to a higher credit level doesnt have to take too long. The fee is $0 intro with auto pay, then $39 after first year. 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 scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. This information may be different than what you see when you visit a financial institution, service provider or specific products site. doesnt only rely on credit scores to determine eligibility. Plus, Discover says there's no FICO history requirement for this card. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Capital One Platinum Credit Card. You can also borrow against your credit limit, much like a personal loan. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. Both of those numbers are actually a bit higher than the 630-689 range typically used to define "average" credit. WalletHub may share your information with third-parties in order to show personalized offers, as well as enable you to interact more easily with pre-fill forms or applications. Pay with your phone or device by using Apple Pay or Google Pay. If you are charged interest, the charge will be no less than $0.50. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. You can also borrow against your credit limit, much like a personal loan. A 700+ credit score is needed to get most Discover credit cards, but theres no minimum credit score needed for a few Discover cards. Annual fees are the most prominent type of fee to watch out for, but theyre not alone. 1. Foreign transaction fee: 1% of the transaction amount. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. These cards can help you if you're just starting out with credit or are working to get back on track. The Petal 2 Card also offers 1 - 1.5% cash back. This ensures that your on-time payments and other responsible credit habits will be recorded. New Credit Users. Paying in full every month also helps keep utilization in check. (The card also earns 5% back on hotels and rental cars booked through Capital One Travel. When you apply for new credit, it's not uncommon to see your scores dip, at least temporarily. What We Dont Like:This card does not offer rewards or a low interest rate. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. No annual or hidden fees. Our pick for: Rewards for college students. If you do make a late payment, the card doesn't impose a penalty APR. Instantly access 50% of your credit while your card ships to you. 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. But we recommend a score of at least 700, which is toward the top of the good credit range, for the cards that require 700 credit for approval. Credit cards 101: Understanding the basics, How a credit card helps you improve fair credit, to good or excellent credit when you use them responsibly. As of this writing, the card is unavailable to residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. Enjoy peace of mind with $0 Fraud liability. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). And on top of all that, it earns cash back, too. See if you're pre-approved within minutes without impacting your credit score. OpenSky Secured Visa Credit Card. 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. It's important to note that definitions of credit score ranges can differ from one card issuer to the next. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. if the card offers enough rewards and benefits to outstrip the cost of carrying it. Please let us know if you notice any differences. Read our review. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card.