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 You can see and track your credit score for free through NerdWallet. Researcher. $0. Credit scores also take into account how long you've been using credit, so the sooner you can find the right card, the better. Graduating to good credit could take as little as one month, depending on your circumstances. Platinum Credit Card from Capital One What is the average credit score in the U.S.? Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. The Capital One Platinum Credit Cardis the best credit card for fair credit overall. ALSO CONSIDER: Best credit cards of 2023 || Best unsecured cards for short credit histories || Best starter cards for no credit || Best rewards credit cards. The annual fee is $0. These cards can help you if you're just starting out with credit. Avianca LifeMiles: Receive 20% more miles when you transfer your Citi ThankYou Points to Avianca LifeMiles. Theres a 0% foreign transaction fee, too. You can choose your own due date, which lets you schedule payment for the time of the month that best suits your cash flow. Plus, Discover says there's no FICO history requirement for this card. Terms apply, Monitor your credit score with CreditWise from Capital One. Theres also no annual fee and no foreign transaction fee. The OpenSky Secured Visa Credit Card is another great option for people with little to no credit history. In particular, we focused on cards with low annual fees and high rewards rates, including general-purpose credit cards as well as store credit cards. doesnt only rely on credit scores to determine eligibility. If youre rejected for a credit card, the first thing to do is determine why. There's an annual fee, although you can avoid it in the first year by signing up for autopay before your first statement is issued. 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. The issuer automatically reviews your account for potential credit line increases. No problem. Your web browser (Internet Explorer) is out of date and no longer supported. What are some low interest credit cards for fair credit? Great for large purchases with predictable payments you can budget for. Issued by Coastal Community Bank, Member FDIC pursuant to a license by Mastercard International. earns rewards on par with cards for good or excellent credit. Secured credit cards (those requiring a refundable security deposit) are meant for people with bad credit or no credit. Discover will automatically match all the cash back youve earned at the end of your first year! Get pre-approved in seconds with no impact to your credit score. Plus, the Petal 2 Card reports account info to the three major credit bureaus each month. 25 Best "Fair Credit" Credit Cards (2023) - Fastest, Easiest Approval Compare these deals from our partners to find one that fits your needs. See what terms you'd qualify for without a hard credit inquiry. 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. The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. Why We Like It:It has a $0 annual fee and gives at least 1% cash back on all eligible purchases. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Try not to carry a balance: Interest rates on credit cards for average credit tend to be on the high side. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. 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. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. OpenSky Secured Visa Credit Card. Petal's mobile app makes it easy to manage your money, track your spending, and automate payments. There is a fine line between fair credit and good credit. What are the best unsecured credit cards for fair credit? You can also borrow against your credit limit, much like a personal loan. 7. What are the most important things to look for in a fair-credit credit card? What We Dont Like:This card does not offer rewards or a low interest rate. Using more than one credit card can help you save by allowing you to get the best terms for every transaction that you make. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. To help people with no credit or bad credit maximize their odds of approval for a credit card, WalletHubs editors compared the approval requirements for more than 1,500 credit card offers, along with their fees, rates and rewards. 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. 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. And the card doesn't charge foreign transaction fees. 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. 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. With that in mind, we asked a panel of experts for insights into the best way to navigate fair credit now and escape it later. 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. The annual fee is $0. That's because this entry-level card doesn't charge an annual fee or foreign transaction fees. . At that point, youll probably have a good sense of why you were rejected. Minimum interest charge: no less than $1.00 (ME residents no more than $0.50). Do any issuers have a particularly good/bad reputation for offering decent fair-credit credit cards. Best unsecured cards for short credit histories. Chase doesn't offer credit cards specifically for fair or average credit, but it does have the Chase Freedom Student credit card, which can . 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. If possible, pay off your balance in full each month. , or a sign-up bonus or a 0% period. 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. Monthly Transfer Bonuses - Forbes Advisor 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. And with a fair credit score, you probably wont get the lowest APR available from any of the low interest credit cards. $39. 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. 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. 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. Keep in mind, also, that credit scores are not the only thing that credit card issuers and other lenders look at when evaluating a credit application. But they may still offer rewards. . Plus, the ongoing APR is on the high end at 29.74% Variable APR. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. The Petal 1 "No Annual Fee" Visa Credit Card, issued by WebBank, is an excellent option for those with less-than-perfect credit. An average credit score wont be enough to qualify for some cards, and a rejection letter can hurt more than just your feelings. The Petal 2 Visa Credit Card is one of the best credit cards for people with fair credit, or even limited credit. And unlike many of those cards, any unpaid balance is automatically converted into an installment loan with a fixed monthly payment. 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. When you have fair credit, getting the right credit card can be a key step to building a good or excellent credit score. Generally speaking, a FICO score that's considered "fair" will fall between . Finally, if you want to make things really easy, just sign up for a free WalletHub account. If your credit is at least fair, you can find cards that charge no annual fee at all. Best Travel Card for Fair Credit The Platinum Credit Card from Capital One can help pave your way to better vacations. On top of that, the cards annual fee is $0. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. Why We Like It:It has a $0 annual fee and rewards cardholders with 1 - 7 points per $1 on purchases. Please let us know if you notice any differences. The card still reports account info to the major credit bureaus each month, though, so its a pretty dependable tool for building credit. 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. 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. 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. But youve got the knowledgeable WalletHub community on your side. No annual fee and build your credit with responsible use. Capital One . Best Credit Cards - NerdWallet