5 Must Have Credit Cards | Scores Below 670
What Are the Best Credit Cards for Fair Credit?
Having fair credit can feel like a financial dead zone – you don’t have bad enough credit to make it difficult to get a loan or credit card, but you don’t have good enough credit to get the best rates and perks that come with having a higher score. But there are still options out there for people with fair credit.
In this article, we’ll discuss the best credit cards for fair credit and the features they offer. We’ll also talk about the different types of cards available and how to choose the one that fits your financial situation best.
What Is Fair Credit?
When lenders review your credit report, they assign you a credit score based on your credit history. The higher your score, the better your credit rating. A score of 700 or higher is considered good credit, while anything below that is considered fair credit.
Fair credit typically means you have a few blemishes on your credit report, such as late payments or a high credit utilization ratio. It’s not as bad as having bad credit, but it can still make it more difficult to get approved for certain loans and credit cards.
Types of Credit Cards for Fair Credit
When you’re shopping for a credit card with fair credit, you’ll want to look for a card that offers features that will help you build or improve your credit. Here are some of the most common types of cards available to people with fair credit:
Secured Credit Cards
A secured credit card is a great option for people with fair credit who are looking to build or improve their credit. These cards require a security deposit to open an account, which is usually equal to the credit limit. The deposit is used as collateral in case you default on the card.
Secured cards are typically easier to get approved for than unsecured cards, and they often have lower interest rates and fees. They also offer the opportunity to build your credit by making on-time payments and managing your credit limit responsibly.
Student Credit Cards
Student credit cards are specifically designed for college students and offer features tailored to their needs. These cards usually have lower credit limits, but they also come with lower interest rates, no annual fees, and often include rewards programs for things like cash back or travel.
Student credit cards are a great way for college students to start building their credit and learn how to manage a credit card responsibly.
Store Credit Cards
Store credit cards are another option for people with fair credit. These cards are offered by department stores and other retailers and usually come with exclusive discounts and promotions. They’re often easier to get approved for than other types of credit cards, but they can also come with higher interest rates and fees.
How to Choose the Best Credit Card for Fair Credit
When you’re shopping for a credit card with fair credit, it’s important to look at the features and fees of each card and compare them to find the one that fits your financial situation best. Here are some factors to consider when choosing a credit card:
• Interest Rate: Look for a card with a low interest rate. A higher interest rate can make it more difficult to pay off your balance each month and can cost you more in the long run.
• Fees: Avoid cards that come with annual fees. Many cards for people with fair credit don’t have annual fees, so you don’t have to worry about paying for the privilege of using the card.
• Credit Limit: Look for a card with a low credit limit. This will help you avoid using too much of your available credit, which can help improve your credit score over time.
• Rewards: If you plan to use the card regularly, look for one that offers rewards for your spending. Rewards can help offset the cost of using the card, and some cards even offer cash back or travel rewards.
• Customer Service: Look for a card with good customer service. This can help you if you have questions or need help with something related to the card.
Best Credit Cards for Fair Credit
Now that you know what to look for, here are some of the best credit cards for people with fair credit:
• Capital One QuicksilverOne Cash Rewards Credit Card: This card offers 1.5% cash back on all purchases and a one-time bonus of $200 when you spend $500 in the first three months. There’s no annual fee, and the card has a variable APR of 26.99%.
• Discover it® Secured Credit Card: This card requires a security deposit of at least $200, but it also offers 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases per quarter) and 1% cash back on all other purchases. There’s no annual fee, and the card has a variable APR of 24.49%.
• Chase Freedom Unlimited®: This card offers unlimited 1.5% cash back on all purchases, with no annual fee and a variable APR of 16.99%-25.74%.
• Bank of America® Cash Rewards Credit Card: This card offers 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined purchases per quarter). There’s no annual fee, and the card has a variable APR of 16.24%-25.24%.
• Credit One Bank® Visa® Credit Card: This card offers 1% cash back on eligible purchases and a one-time bonus of $100 when you spend $500 in the first three months. There’s no annual fee, and the card has a variable APR of 17.99%-24.99%.
Key Points:
• Fair credit typically means you have a credit score of 700 or lower.
• There are several types of credit cards available to people with fair credit, including secured cards, student cards, and store cards.
• When choosing a credit card, look for a card with a low interest rate, no annual fees, and a low credit limit.
• Some of the best credit cards for fair credit include the Capital One QuicksilverOne Cash Rewards Credit Card, Discover it® Secured Credit Card, Chase Freedom Unlimited®, Bank of America® Cash Rewards Credit Card, and Credit One Bank® Visa® Credit Card.
People Also Ask:
Q: How do I build my credit with a fair credit card?
A: The best way to build your credit with a fair credit card is to make on-time payments, keep your credit utilization ratio low, and manage your credit limit responsibly.
Q: Are there any credit cards with no annual fee for people with fair credit?
A: Yes, there are several credit cards with no annual fee for people with fair credit, including the Capital One QuicksilverOne Cash Rewards Credit Card, Discover it® Secured Credit Card, and Chase Freedom Unlimited®.
Q: What is the best credit card for people with fair credit?
A: The best credit card for people with fair credit depends on their financial situation and what they are looking for in a card. Some of the best options include the Capital One QuicksilverOne Cash Rewards Credit Card, Discover it® Secured Credit Card, Chase Freedom Unlimited®, Bank of America® Cash Rewards Credit Card, and Credit One Bank® Visa® Credit Card.
Best Credit Cards For Fair Credit – Most Popular?
In this video, I would like to talk about the must have cards for any person with average credit. This is a tough one because being in the middle of the road when it comes to credit is like being stuck in the middle of the woods with no sense of direction. You don’t know if you will be approved for any card you choose sometimes you get lucky and other times you don’t. This credit range will be 600 – 669. This is average credit and you cannot expect to get the best cards when you are in this credit range.
Some of these cards are good cards and some fall in between the good and average credit ranges. Therefore, everything else has to be in line before you apply for those cards but the truly are attainable in this credit range. Hopefully you enjoy that video. If you did enjoy it make sure to hit the like button and subscribe to the channel.
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5 Must have cards for Average Credit
Capital One® QuicksilverOne® Cash Rewards Credit Card
• $150 bonus (500/ 3months)
• 1.5% Cash Back
Citi® Double Cash Card
• 2% Cash back (1% buy, 1% Pay
• 0 APR Balance Transfers
Wells Fargo Propel American Express® card
• 30,000 points (3,000/3 months)
• 3x Restaurants
• 3x on Travel
• 3x on Streaming
• 3x on Gas
• 1x on all other
Apple Card
• Daily Cash 321
• 3% on Apple
• 2% with apple pay
• 1% on all other (without apple pay)
Discover It Cash Back
• Cashback match
• 1% cash back
• 5% Revolving Categories
Amex Referral Link:http://refer.amex.us/MATTHPzCbP?XLINK=MYCP
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