You don’t have to restrain yourself with a no-frills, high-fees credit card, especially if you have fair or average credit. There are a number of options in credit cards for fair credit that offer useful perks and great rewards at zero annual and foreign transaction fees. What’s more, these credit cards can help people with a fair or average credit score to build a positive credit history, which is vital for managing personal finances!
While these cards might be easier to obtain, they often come with high interest rates. But that shouldn’t be a problem if you pay all your bills on time. With the right card and responsible use, you can grow your credit score so it bumps up to a good score range and qualify for better credit cards and loans in terms of interest rates, which could save you a lot of money in the future.
Below are some of the best credit cards for fair or average credit. Pick the right one for you to grow your finances and build a better credit score.
Capital One QuicksilverOne Cash Rewards Credit Card
This Capital One credit card offers a great rewards program with minimal annual fee and reasonable credit requirements. It gives at least 1.5% cash back on all purchases. It’s a great deal if you’re looking to boost your credit score and earn cash back rewards too.this is know as cashback credit cards. The rewards can be redeemed easily, with no expiry date. The APR rate is high but card-holders may also gain a higher credit line in as little as 6 months from account opening.
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Capital One Platinum Credit Card
If you’ve got fair credit, the Capital One Platinum Credit Card can help you to improve your creditworthiness without going after rewards. Yes, this card does not have any rewards program. But there are no annual fees or foreign transaction fees with this card either. You also have the freedom to choose your monthly payment due date.
What’s more, you will be automatically considered for a higher credit limit within six months if you make monthly payments on time. As the variable APR (28.49 percent) is on the higher end, it is wise to use the card for everyday expenses and pay the balance in full.
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Upgrade Cash Rewards Visa®
This is another great credit card of choice for customers still beginning to manage their credit effectively. It has no annual fee and it operates as a hybrid credit card/personal loan. You could also potentially qualify for a low interest rate (14.99% – 29.99% APR) and also earn a respectable 1.5% cash back on all purchases.
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OpenSky Secured Visa
The OpenSky Secured Visa can help in building your credit amid rising interest rates. The card’s relatively low variable APR makes it a good option to save money if you carry high balances that can’t be paid off quickly. There’s also no credit check required, making it a particularly accessible option. However, it charges an annual fee and requires a refundable cash deposit upfront.
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Discover it Student Cash Back
This one is a great credit card option for students beginning to learn about finances and build credit. It charges no annual fee and its rewards rate is 5% cash back on up to $1,500 in rotating bonus categories purchases each quarter. There is 0% intro APR on purchases for the first six months of account ownership.
Now you know that a credit card has many benefits. With the help of the right credit card, you can build on your credit score and improve the future of your finances. So make the right choice and select from the best credit cards for fair credit to get the best out of your plastic money.
