Getting a new credit card when you have fair credit can be a challenge. However, there are credit card companies which will give you opportunities to get one of their cards, although they often come with higher APR percentages and annual fees. On the flip side, some offer free credit score reporting and tracking tools to help you get your credit score up while using the card. Here is a list of the best credit cards for those with fair credit:
Barclaycard® Rewards MasterCard® Credit Card
The Barclaycard® Rewards MasterCard® credit card has quite a few incentives for those who are looking for a credit card but have had some problems with their credit history and currently have a fair credit rating. They help build back up your rating by reporting to all three credit agencies on a monthly basis. They offer 2x cash back on purchases for gas, groceries and utilities, with 1x cash back on all other purchases. Their cash back rewards are earned as points which can be redeemed for rewards such as cash back statement credits and gift cards starting at 1,000 points for $10. And they will give you a complementary FICO® Credit Score to help you manage your credit.
Capital One® Platinum Credit Card
The Capital One® Platinum credit card has no annual fee, which is a bonus for those with a fair credit rating. They will give you a small credit line and access to a large one after you make five on time monthly payments. The card has a high APR of 24.99% variable. They give you free access to your credit score and the ability to use their Capital One® Credit Tracker tool which will help you learn how everyday decisions can affect your score.
Capital One® QuicksilverOne® Cash Rewards Credit Card
The Capital One® QuicksilverOne® Cash Rewards credit card has some special perks that are not normally found in credit cards for those with a fair credit rating. There is a 1.5% cash back on every purchase, everyday and a 0% APR for a limited time, 22.9% variable APR after the time limit. And like the Capital One® Platinum, they will give you a higher credit line when you make 5 months of timely payments. You have the same ability to use the Capital One® Credit Tracker tool as with the Capital One® Platinum Credit Cardto help you raise your credit score with this card.
NFL Extra Points Credit Card
With no annual fee and a 0% APR introductory offer, the NFL Extra Points credit card is a good deal for football fans with fair credit. Plus they have a sign on bonus 10,000 points after $500 in purchases in the first 90 days. This is enough to redeem for a $100 cash back statement credit – a great deal! They have a cash back offer of 2 points per $1 on NFL or team purchases including game tickets, in-stadium and at team Pro Shops. You will also receive 1 point per $1 on all other purchases. You can also customize the card with any of the NFL team colors and logo.
USAA Classic Platinum Visa® Credit Card
This card is perfect for those that want a Visa that will help you rebuild your credit rating. The USAA Classic Platinum Visa® credit card will make an automatic upgrade should your credit rating improve as they periodically check to see if you are eligible. There is a $35 annual fee and no rewards on this card, so it isn’t the best of the best, but considering you could get only 17.9% APR if you qualify, it is still a good one to have when you have a fair credit rating.
When you have fair credit, your credit card choices are more limited as they do not have as many rewards options and benefits. They do all offer a way to get your credit back on track by using the card and making payments on time. Getting a new card and using it responsibly is a great plan if you are trying to repair your credit.