Credit cards for fair or average credit

If you have average or lower-than-average credit scores, applying for a credit card may seem intimidating. You might be wondering what type of cards, if any, you could be eligible for.

Whatever your starting point, Capital One has credit card options—including some with rewards. Read on to learn more about credit card options for individuals with average or less-than-average credit.

What you’ll learn:

• FICO® scores ranging from 580 to 669 are considered fair and may be below average for Americans.

• If you have less-than-perfect credit, you may have options for cards you can use to build credit. 

• Credit card options for fair or average credit scores include secured credit cards and student credit cards.

• When choosing a credit card for fair credit, it’s helpful to understand your credit scores, compare interest rates and annual fees, and consider all options available to you.

It’s important to understand that “fair” and “average” aren’t the same thing when it comes to credit scores. According to FICO, scores of 580-669 are categorized as “fair,” but these scores are below average in the United States. 

Also keep in mind that credit card issuers each have their own determining factors when it comes to what cards you can qualify for. Even if you have fair or lower-than-average credit scores, there may still be credit card options available for you.

Here’s a look at some credit card options that may suit individuals with fair credit scores:

Secured cards are a popular option for building credit from scratch or rebuilding lower-than-average scores after negative factors have impacted your credit reports. A secured credit card can be a helpful credit-building tool when it’s used responsibly over time. 

Capital One’s secured credit card options for building or rebuilding credit include the Platinum Secured card and Quicksilver Secured Rewards card: 

• Capital One Platinum Secured card: This is a secured card with no annual fee and no hidden fees. View important rates and disclosures. And if you make the minimum required security deposit, you’ll get an initial credit line of $200. You can also raise your initial credit line by depositing more than the minimum.

• Capital One Quicksilver Secured Rewards card: Like other secured cards, Quicksilver Secured Rewards requires a refundable deposit. But its $200 minimum deposit comes with the ability to earn 1.5% cash back on every purchase, all with no annual fee. View important rates and disclosures.

If you have fair credit scores, these unsecured credit cards may be an option for you:

• Capital One Platinum Mastercard®: The Platinum Mastercard is another great card for fair credit. It gives you the credit you need with no annual fee. View important rates and disclosures. And like the Platinum Secured card, you’ll automatically be considered for a higher credit line in as few as six months.

• Capital One QuicksilverOne card: Want to earn rewards? Check out QuicksilverOne. You could earn unlimited 1.5% cash back on every purchase, every day. Your rewards won’t expire for the life of the account. And you can redeem them in a variety of ways.

If you’re at a four-year university, a community college or another higher-education institution, you might be interested in one of these Capital One student credit cards. After you upgrade, your card, rewards and benefits all stay with you.

• Quicksilver Rewards for Students: Like the Quicksilver cards you’ve already read about, this card offers the ability to earn 1.5% cash back on every purchase, every day. And with Quicksilver Rewards for Students, there’s no annual fee. View important rates and disclosures.

• Savor Rewards for Students: If going out is your thing, Savor Rewards for Students might be for you. It lets you earn unlimited 3% cash back at grocery stores¹ and on dining and entertainment. Staying in? You can also earn 3% on popular streaming services—all with no annual fee. View important rates and disclosures.

No matter which Capital One card you decide is right for you, you’ll get great features and benefits that can make using your card responsibly that much easier. Here are a few:

• No foreign transaction fees: You won’t pay a fee for purchases made outside the U.S. using your Capital One credit card. View important rates and disclosures.

• $0 liability for unauthorized charges: If your card is lost or stolen, you won’t be responsible for charges you didn’t authorize.²

• Eno, your Capital One assistant: Eno, your Capital One assistant, can help keep an eye on your accounts 24/7 and reach out if something unusual is spotted.³

• Capital One Mobile app: With the Capital One Mobile app, you can manage your accounts anywhere, anytime.⁴

• Ability to pick your own payment due date: Change your due date to get more control of your finances.

When it comes to choosing a credit card, there are many factors to consider. Everyone’s financial situation and goals are different, so there isn’t just one single best card option based on your credit scores alone.

If your credit scores are average or below average, here are some tips that may help you choose a card:

1. Know your credit scores: Some cards are geared more toward people with fair credit scores. So to help you understand which cards you could qualify for, it’s good to be aware of your credit scores. You can use free tools like CreditWise from Capital One to keep track of your credit—even if you aren’t a Capital One cardholder. You can also get free copies of your credit reports from AnnualCreditReport.com.

2. Consider interest rates and annual fees: As you compare card options, you’ll likely want to take the card’s annual fee into account. Also consider the annual percentage rate (APR). If you think you’re likely to keep a balance on your card, you may want to avoid cards with high interest rates.

3. Don’t rule out secured credit cards: Depending on your situation, you may find it hard to qualify for unsecured credit cards with fair credit scores. Secured cards can be a great option. With automatic credit line reviews, you could be considered for a higher credit limit in as few as six months. And with responsible use, you could put yourself in position to get back your deposit and upgrade to an unsecured card.

4. Don’t settle—take time to compare options: As you research credit cards, remember there are options available. And requirements vary from lender to lender.

Whether your credit scores are average or fair, there may be a Capital One card that’s right for you. 

For help finding the best credit card for you, you can get started by comparing cards. You can also find out whether you might be approved for a Capital One card before you apply. Capital One pre-approval is quick, secure and only requires some basic info. And checking to see whether you’re pre-approved won’t hurt your credit scores.

If you’re new to credit or searching for your next credit card, Capital One can help: 

• See if you’re pre-approved for credit cards without harming your credit scores. 
• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 
• Earn unlimited 1.5% cash back on every purchase, every day with a cash back rewards card. 
• Monitor your credit report and score with CreditWise from Capital One. It’s free for everyone, and using it won’t hurt your credit.