Advertiser Disclosure

credit cards for Fair Credit

On a scale of 300–850, a score of 580–669 is considered as a fair FICO credit score. According to the consumer credit-scoring model VantageScore, a score in the range of 650–699 is a fair credit score. A fair credit score ensures that a person has access to fairly good lending services and products. These include credit cards for fair credit, which offer rewards and perks to their customers.

Read More
Sort by:

How to make the best use of credit cards for Fair Credit

by Cardswallet Team
Posted on March 7, 2018

On a scale of 300–850, a score of 580–669 is considered as a fair FICO credit score. According to the consumer credit-scoring model VantageScore, a score in the range of 650–699 is a fair credit score. A fair credit score ensures that a person has access to fairly good lending services and products. These include credit cards for fair credit, which offer rewards and perks to their customers. Using credit cards for fair credit help improve the credit score and strengthen credit history. This improves the spending and financial habits.

Steps to improve credit score

  • The best and quickest way to improve credit score is with credit cards. Before using any credit card for fair credit score, it is necessary to ensure that the card issuer communicates the customer’s good credit habits to the credit bureaus.
  • Credit cards for fair credit are useful only when purchases are made regularly with the card. It is recommended to use the credit card at least once a month. Ensure that the credit payments are made on time and in full.
  • To improve credit score, avoid late payments as far as possible. It is necessary to correctly and meticulously manage the monthly accounts.

How to use credit cards for fair credit

  • Credit cards for fair credit can improve credit score and customers can their increase their credit score to fair or average scores. This will make good lending products available to such customers.
  • To have the optimal use of credit cards for fair credit, it is necessary to keep the utilization ratio low. The utilization ratio is the balance on a credit card in correlation to the available credit. This can be done by having a low card balance.
  • One of the best ways to gain from using credit cards for fair credit is to find credit cards that have no annual fees. This reduces the card membership cost to a great extent.
  • Many credit cards for fair credit offer rewards to customers. Rewards can include 1% cashback on any purchases made by a customer or discounted prices when purchases are made from specific brands. Utilizing these rewards can help make the most out of credit cards for fair credit.
  • Ensure that there is no carryover of credit balance. The interest charges incurred on carryover credit balance can nullify the rewards and offers of the credit card.
  • Once a fair credit score has been achieved, customers can apply for a better credit card with better rewards and lower interest rates. However, it is necessary to continue using the older credit card for fair credit. The older account can be kept active by using the older card for small purchases and charges. This will help build credit and increase the available credit as well.

Popular credit cards for fair credit
Here are some of the common credit cards for fair credit used by customers.

  • Capital One® Platinum Credit Card: There is no annual fee. The APR is 24.99%, and it is variable. Once the first 5 monthly payments have been made on time, a customer can have access to a higher credit line. This also has fraud coverage in case of lost or stolen cards. The customer has the freedom to pick a monthly due date that works the best for them.
  • Discover it® Cashback Match™: This card does not require any annual fee and the APR ranges from 13.24% to 24.24%. Every quarter, a customer can earn a cashback of around 5% by charging the card at grocery stores, gas stations, online retailers, and restaurants. One would get a cashback of around 1% on other purchases.
  • Capital One® QuicksilverOne® Cash Rewards Credit Card: The annual fee is $39, while the APR is 24.99%. This card lets a customer earn a cashback of around 1.5% on every purchase daily. Customers can have a higher credit line if they make the payments of the first five months on time.

General Disclaimer: The information displayed on Cardswallet.com may be different from what you see when you visit a financial institution, service provider, or a specific product’s site. All the products and services here are presented with no warranty. We are not responsible for any errors or other inaccuracies in the content on our website. The information provided on our website is solely for informational and educational purposes. The ratings against each card are provided by visitors to the site. We are not liable or responsible for these ratings. Before you make any financial decisions or implement any financial strategy, we recommend that you obtain considered and independent advice from a professional who understands your individual needs and circumstances.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which Cardswallet.com receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. Cardswallet.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.