What Are the Top Credit Cards for Fair Credit?

Top Credit Cards for Fair Credit: Everything You Need to Know

If you havefair credit, finding a credit card that suits your needs can be a challenge. Manycredit cardsare targeted toward consumers with excellent credit scores, leaving those with fair credit struggling to find a suitable option. However, there are several credit cards available that are designed specifically for people with fair credit. In this article, we will explore the top credit cards for fair credit and the benefits they provide.

What is Fair Credit?

Before we dive into the top credit cards for fair credit, it's important to understand what fair credit is. A fair credit score is typically in the range of 580 to 669, according to credit reporting agency Experian. While it's not bad, it's also not great, and it may be difficult to qualify for some credit cards with a fair credit score. However, there are still plenty of options available for those with fair credit.

Top Credit Cards for Fair Credit

1. Capital One Platinum Credit Card

The Capital One Platinum Credit Card is an excellent option for those with fair credit. The card has no annual fee and offers credit monitoring tools to help you keep track of your credit score. Additionally, the card provides access to a higher credit line after you make your first five monthly payments on time.

2. Discover it Secured Credit Card

The Discover it Secured Credit Card is ideal for those who want to build their credit. The card requires a security deposit, but it also offers cashback rewards on every purchase. After eight months, Discover will review your account and may upgrade you to an unsecured card.

3. Credit One Bank Platinum Visa

The Credit One Bank Platinum Visa is designed for people with fair credit. The card offers 1% cashback on eligible purchases, and you can choose your payment due date to fit your schedule. The card also provides free access to your credit score.

Tips for Applying for a Credit Card

When applying for a credit card, there are a few things you can do to increase your chances of being approved. First, make sure you meet the minimum credit score requirements for the card you're interested in. Second, make sure you have a steady source of income and that you're not carrying too much debt. Finally, be prepared to provide all the necessary information, such as your social security number and employment details.

Saving Money with Credit Cards

Credit cards can be a great tool for saving money if used correctly. One way to save money is to use a credit card with cashback rewards on your everyday purchases. Additionally, some credit cards offer discounts on certain purchases or services, such as travel or dining. However, it's important to be mindful of your spending and to pay off your balance in full each month to avoid accumulating debt.

Annual Fees and Avoiding Risk

When choosing a credit card, it's important to consider any annual fees that may be associated with the card. While some cards have no annual fee, others may charge a fee that can range from $25 to $500 or more. Additionally, it's important to be aware of the risks associated with using a credit card, such as the potential for fraud or identity theft. To minimize your risk, be sure to monitor your account regularly and report any suspicious activity immediately.

Credit Card Company Recommendations

When it comes to choosing a credit card company, there are several options available. Some of the top credit card companies include Chase, American Express, and Discover. Each company offers a range of credit cards with different rewards and benefits, so it's important to do your research and choose the one that best fits your needs.

Conclusion

If you have fair credit, there are still plenty of credit card options available to you. The Capital One Platinum Credit Card, Discover it Secured Credit Card, and Credit One Bank Platinum Visa are all excellent choices for those with fair credit. When applying for a credit card, be sure to meet the minimum credit score requirements, have a steady source of income, and be prepared to provide all the necessary information. To save money with your credit card, consider using a card with cashback rewards or discounts on certain purchases. And, to minimize your risk, be sure to monitor your account regularly and report any suspicious activity immediately.