A fair credit score is not good; it’s “fair”. Fair credit is a credit score of 640-699. A good credit score is 700-749. People with fair credit scores will have a difficult time getting approved for the best credit cards, ones with low interest rates, high credit limits, 0% APRs and/or lots of rewards. That is not the case for people with good credit or better. With a fair credit score, most of your options are store credit cards or secured cards that require a deposit. There are some unsecured cards for fair credit with decent rewards, but they’re rare.
For example, the Capital One QuicksilverOne Cash Rewards card offers 1.5% cash back on all purchases. There’s also a $39 annual fee. But at this stage, you’re better served with a credit card with no annual fee, such as the Capital One Platinum card. Most cards for people with fair credit will have a low starting credit limit. Having no annual fee provides you with more spending power and reduces your utilization ratio from the start.
You should note that a fair credit score’s impact extends beyond your choice of credit cards. When banks or other lenders review an application for a mortgage, car loan or personal loan, a fair credit score could drive down the odds of approval and drive up the costs.
But if you have a fair credit score, just continue to make bill payments by the due dates and pay down existing debt. You’ll be on your way to having a good credit score. It’s also a good idea to check your credit report for any errors that might affect your credit score.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.