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If you don’t already know, your credit score impacts your financial life in a few different ways. If you’ve got a good to excellent score, for example, you’re more likely to get approved for credit. Not only that but you also may have a better shot at the best interest rates.
If you’ve got fair credit, on the other hand, you can still get approved for loans or credit cards but you might have a harder time locking in lower rates.
Keep in mind that having a credit score in a particular range is not a guarantee that you will be approved for a credit card or a loan. Credit card issuers, lenders and other financial institutions use a variety of different types of credit scores/credit scoring models and other criteria when making a decision about extending credit and the terms of the offer, so having a credit score in a certain range is not a guarantee for approval.
Finding the right credit card is a must. Luckily, you don’t have to spend hours researching different cards. We have put together this guide to help you find a credit card for fair credit that may fit your spending habits and your lifestyle. We’ve chosen these cards for these categories:
- Best for Cash Back: Capital One® QuicksilverOne® Cash Rewards Credit Card
- Best for Students: Journey® Student Rewards from Capital One®
Continue reading to learn more about what each of these cards has to offer if you have fair credit.
|Capital One® QuicksilverOne® Cash Rewards Credit Card||Journey® Student Rewards from Capital One®|
|Rewards program:||Earn unlimited 1.5% cash back on every purchase||Earn 1% cash back on all your purchases. Pay on time to increase your cash back to a total of 1.25% for that month|
|Benefits and perks:||Access to higher credit line after making your first 5 monthly payments on time||Access to higher credit line after making your first 5 monthly payments on time|
|No foreign transaction fees||No foreign transaction fees|
|Monitor your credit profile with the CreditWise® app||Monitor your credit profile with the CreditWise® app|
|We think it's good for:||Someone who wants a straightforward way to earn cash rewards on every purchase||Students who want to build up their credit history while earning cash rewards|
|We think these folks should keep looking:||Someone who wants to sidestep paying an annual fee to earn cash rewards||Students who want to earn travel rewards|
Best for Cash Back: Capital One® QuicksilverOne® Cash Rewards Credit Card
Annual Fee: $39
The Capital One® QuicksilverOne® Cash Rewards Credit Card is a solid choice for earning unlimited 1.5% cash back on every purchase, every day. If you have average, fair or limited credit you may want to consider this card.
What makes this card a standout
When you make a purchase with the Capital One® QuicksilverOne® Cash Rewards Credit Card, you can earn cash rewards without signing up for rotating categories – earn unlimited 1.5% cash back on every purchase.
Giving you even more spending power, get access to a higher credit line after making your first 5 monthly payments on time. Access CreditWise® from Capital One® for free, which allows you access to your credit score and tools to help you monitor your credit profile, note availability will vary depending on ability to obtain your credit history from TransUnion®. Get customized alerts and manage your account with the Capital One mobile app.
Why you may want to consider a different card
This card isn’t going to be an ideal fit for someone who wants to avoid paying an annual fee. On the bright side, the annual fee is just $39, which is generally less than what many other cash back rewards cards charge. Something else you might see as a drawback is the absence of a one-time cash bonus offer for eligible new Cardmembers who meet the spend requirements.
Best for Students: Journey® Student Rewards from Capital One®
Annual Fee: $0
If you’re looking to establish your credit history while you’re in college you may want to consider the Journey® Student Rewards from Capital One®. Healthy credit is your ticket to a future car loan, home mortgage or even renting an apartment. With the Journey® Student Rewards from Capital One®, with responsible use by you, you can use this as a tool to get your credit off on the right foot, and earn cash back rewards in the process.
What makes this card a standout
The Journey® Student Rewards from Capital One® offers 1% cash back on all your purchases. Want some motivation to get in the habit of paying your bill on time every month? This card provides just that. Pay on time to boost your cash back to a total of 1.25% for that month. This card has no annual fee. There are no foreign transaction fees, which could be a plus if you plan to study abroad at some point.
Monitor your credit profile for free with CreditWise® app from Capital One®. Get Eno®, your Capital One® assistant, to manage your account via text, receive alerts, and shop safer online. These financial tools can help you develop a better understanding of your finances and manage your credit.
Why you may want to consider a different card
Earning 1% cash back is great, and even better if you pay on time to boost your cash back to a total of 1.25% for that month, but there are other student cards that may yield more substantial rewards. If you’re going to school away from home, a student travel rewards credit card that earns miles or points towards flights or car rentals could be more of a money-saver in the long run.
The Bottom Line
The cards included here get our vote as the best picks for fair credit. To see how your credit score measures up, take a look at your free credit report card. Then, check out Credit Sesame’s credit card marketplace to see offers from our partners and which cards may be a fit for your credit profile and spending habits.
Independent Review Disclosure: All the information about the Journey® Student Rewards from Capital One®, and the Capital One® QuicksilverOne® Cash Rewards Credit Card have been collected independently by CreditSesame.com and have not been reviewed or provided by the issuer of these cards. The Journey® Student Rewards from Capital One®, and the Capital One® QuicksilverOne® Cash Rewards Credit Card are not available through CreditSesame.com.
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