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The Capital One QuicksilverOne Cash Rewards Credit Card offers those with average credit a chance to both earn rewards and, potentially, gain access to a higher credit line. keeps you in debt longer and could ultimately drag down your credit scores. No security deposit required get started today! Why dont more banks and credit unions offer credit cards to people with fair credit? 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. Or turn $100 into $200. 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. Its free, activate with the mobile app. annual fee. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. When evaluating offers, please review the financial institutions Terms and Conditions. Theres also no annual fee and no foreign transaction fee. 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. 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. Experian, Equifax and TransUnion are the three major bureaus that compile the credit reports that inform your credit scores. Depending on which offer you qualify for, you could get as much as 1.5% cash back on purchases. With the, , youll have the potential to gain access to a higher credit line. What is the average credit score in the U.S.? Another good unsecured card for fair credit is the Petal 2 Visa Credit Card. In fact, only 40 credit-score points separates the two tiers (fair credit means a credit score of 620 to 659, while good credit is 660 to 719). Credit . Be automatically considered for a higher credit line in as few as 7 months. Capital One QuicksilverOne Cash Rewards Credit Card. It also earns 1.5% cash back on all purchases. With a product change, youre not applying for a new account; youre seeking an upgrade to the one youve already got. 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 do make a late payment, the card doesn't impose a penalty APR. Doing so also avoids costly late fees. Low or no fees: An annual fee can make sense if the card offers enough rewards and benefits to outstrip the cost of carrying it. 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. Fair 600-699. Great for large purchases with predictable payments you can budget for. MORE: Credit cards 101: Understanding the basics. 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. But youve got the knowledgeable WalletHub community on your side. No single credit card offers the best rewards in every purchase category, plus the lowest rates and fees. Rewards: Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. 1. The card earns a decent rate of up to 10% cash back when you use the card to shop with select merchants. It earns 1.5% back in the form of Bitcoin when you pay your bill. 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. Best Unsecured Credit Cards of March 2023. 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. Our partners cannot pay us to guarantee favorable reviews of their products or services. 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. If you have lousy credit and are looking for a way to build it back; the Milestone Mastercard is a strong option. The Navy Federal Credit Union Platinum Credit Card is a balance transfer card where applicants with fair credit have a better chance of qualifying. Access your account anytime, anywhere with our mobile app. These cards can help you if you're just starting out with credit. 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. 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. It can help you build credit since payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. Just answer a few questions and we'll narrow the search for you. Or you can plan to request a. from your issuer on your own eventually. From huge sign-up bonuses to generous rewards, NerdWallet's best credit cards outshine the rest. Wallethub doesnt charge for this service. And after paying on time for 12 straight months, the rewards rate increases to 1.5% back across the board. . Actual terms may vary. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. And if you already have a long-serving credit account, keep it open and active. if the card offers enough rewards and benefits to outstrip the cost of carrying it. earns rewards on par with cards for good or excellent credit. And if you're approved, you can begin using your credit line immediately no need to wait for the physical card. 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. Capital One QuicksilverOne Cash Rewards Credit Card: Best for flat-rate rewards The Capital One QuicksilverOne card gives people with fair credit the chance to earn 5 percent cash back. Credit scoring formulas tend to reward people who show that they can handle different kinds of credit. Heres the minimum credit score needed for each Discover card: There arent any Discover cards that flat-out require excellent credit, currently. 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 fee is $0 intro with auto pay, then $39 after first year. Best Overall Unsecured Card For Fair Credit The Capital One Platinum Credit Card has everything that someone with average credit could want in a card. Rewards arent necessarily a must for credit cards for fair credit, but they are within reach at this range. Banks are required to notify you if you were denied because of information in your credit report. 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. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. It's possible to find some credit cards that offer decent ongoing rewards on common purchases instead of only with select merchants. 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) 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. offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. If possible, pay off your balance in full each month. NerdWallet strives to keep its information accurate and up to date. Banks are required to notify you if you were denied because of information in your credit report. , which compile the credit reports that form the basis of your credit scores. Theres a 0% foreign transaction fee, too. Before applying, confirm details on the issuers website. doesnt only rely on credit scores to determine eligibility. You can check out WalletHub to get custom credit improvement advice to help you along the way. 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. Your goal should be to minimize the fees that are likely to apply to your usage habits and ignore those that arent. (The typical, runs from 300 at the low end to a maximum of 850.). This information may be different than what you see when you visit a financial institution, service provider or specific products site. Combine the flexibility of a credit card with the predictability of a personal loan. Check out our expert picks for fair credit credit cards here! Navy Federal Credit Union Platinum Credit Card *. Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases. Discover it Student Chrome The Discover it Student Chrome is one of the best credit card options available for fair credit students. Other credit cards may also allow you to change the minimum payment due date to one that better aligns with a direct deposit. The card is well-suited to travel with no foreign transaction fees and the globally accepted Visa network. The best cards from this segment include options that let you earn rewards/cash back and ones that do away with annual fees. The Capital One QuicksilverOne Cash Rewards Credit Card offers a solid ongoing rewards rate: You earn unlimited 1.5% cash back on purchases. Alternatives to Consider: The First Progress Platinum Elite Mastercard Secured Credit Card is another option with no credit check. There's a $39 annual fee. The second-largest factor in your scores. 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. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. 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. Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. $0 annual fee, $0 activation fees, $0 foreign transaction fees. Many major issuers offer free access to your scores, available once you sign in to your account, along with other budgeting and education tools. So whereas someone with excellent credit might receive a credit . Six months is a good rule of thumb. Customize Reject All Accept All Customize Consent Preferences offers those with average credit a chance to both earn rewards and, potentially, gain access to a higher credit line. , issued by WebBank, is an excellent option for those with less-than-perfect credit. However, this does not influence our evaluations. 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. You can see exactly where you stand and how long it will take to improve bychecking your latest credit score for free on WalletHub. 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;