In the financial world, your credit score can determine which credit cards and products you qualify for as well as the opportunities that are available. If you have a fair or average credit rating, your score may be anywhere from 630 to 689, falling right between poor credit and excellent credit. Though you may face some limitations, the good news is that with fair or average credit, you still have a number of great credit cards you can choose from while you work on improving and reaching the excellent credit level. These are some of the best credit cards available for people with fair or average credit.
Platinum Credit Card from Capital One
Capital One credit cards are well-known for being understanding of those with average credit scores. If you have fair credit, the Platinum Credit Card is a solid choice for building your credit score with a low interest rate. This card is also relatively low-fee with no annual fee, balance transfer fee, or foreign transaction fee. Plus, you get access to CreditWise, which helps you to manage and monitor your credit score so you can reach a higher credit rating faster.
One of the best credit cards for balance transfers whether you have average or excellent credit is the Chase Slate Credit Card. This card offers a 0% introductory APR on purchases and balance transfers for 15 months, and there is no balance transfer fee for transfers made within the first 60 days of opening the account. After the introductory period, you could qualify for an APR as low as 13.24%. You also get access to your free monthly FICO score and credit dashboard. This card has no annual fee. If your credit limit is high enough, you can transfer the balances from all of your other credit cards onto this one. This makes it an ideal option for credit card consolidation.
Credit One Platinum Visa
Although not as well-known as some of the other cards, the Credit One Platinum Visa is a card that those with average credit ratings should consider, especially if your score is closer to the lower end. When you have a credit score that is close to the no credit or poor credit range, it can be difficult finding an unsecured credit card. This card has an annual fee that can range from $0 to $99, depending on your credit worthiness, but it is an unsecured credit card and doesn’t require a security deposit. You also get 1% cash back on all your purchases as well as free access to your FICO credit score. There are a few different versions of this card available, one of which awards extra cash back for NASCAR purchases.
Many of the rewards credit cards available require excellent credit ratings, leaving those with fair credit, limited options for earning when you use your card. However, the QuicksilverOne Rewards card from Capital One awards 1.5% cash back on all purchases you make with the card, without any earning or redeeming limitations. The annual fee is $39, but there is no balance transfer fee or foreign transaction fee. New cardholders also get 0% introductory APR on purchases until January 2017 and access to Capital One’s credit monitoring tools through CreditWise.
Barclaycard Rewards MasterCard
The Barclaycard Rewards MasterCard is also a credit card designed for those with fair or average credit and awards the types of purchases you might make on a daily basis. It awards 2x points on gas, utility, and grocery store purchases, and 1x point on all other purchases. You can redeem your points for cash back, gift cards, and other opportunities. This card also includes free access to your FICO score to help you manage your credit rating. There is no annual fee for this card.