What are some low interest credit cards for fair credit?

Question

One of the easiest credit cards to get with fair credit is the Petal® 1 Visa® Credit Card. This credit card is available to people with limited credit or better, reports monthly to the three main credit bureaus, and gives cardholders 2% to 10% cash back on purchases from select merchants. It also has a $0 annual fee. And if you’re lucky, you may even get approved for the … read full answer Petal® 2 Visa® Credit Card instead, since you’ll be considered for both cards when you apply.

In general, the easiest type of credit card to get is a secured card or an unsecured card for bad credit. There are plenty of credit cards that require fair credit at a minimum, but if easy approval is what you’re after, you’ll want to exceed the card’s requirements rather than just meeting them. Checking for pre-approval will give you a good idea of which credit cards will be easiest to get with your fair credit score.

Easy Credit Cards to Get With Fair Credit

Best Overall: Petal® 1 Visa® Credit Card

Best for Rewards: Capital One QuicksilverOne Cash Rewards Credit Card

Best for No Annual Fee: Capital One Platinum Credit Card

Best for a Low Deposit: Capital One Platinum Secured Credit Card

Best for No Credit Check: OpenSky® Secured Visa® Credit Card

It’s not hard to find easy credit cards to get with fair credit – even ones with rewards. But it is hard to find worthwhile 0% intro APRs on cards for fair credit. So it’s probably best to pay off your balance in full each month. And if you consistently pay on time, you should see your credit score start moving up toward the good credit range.

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Answer 1 · 2021-03-26 14:53:53

Maria Adams, Credit Cards Moderator

@m_adams • 03/26/21 This answer was first published on 03/26/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The best low interest credit card for fair credit is the Petal® 2 Visa® Credit Card because it is possible to get an interest rate of 12.99% (V), depending on your overall creditworthiness. That is the low end of a range from 12.99% to 26.99% (V), however, so it might be optimistic to assume you’ll get a rate that low. The Petal 2 Card’s annual fee is $0.

It’s worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. Fair credit won’t qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. And with a fair credit score, you probably won’t get the lowest APR available from the Petal 2 Card.

Store credit cards can offer deferred interest to people with fair credit. But you should be careful with deferred interest deals – if you don’t pay the full amount by the time the deferred interest period is over, you’ll owe your balance plus all the interest you would have accrued since you made the purchase.

Answer 2 · 2020-03-16 05:03:45

Frankie Solomon, WalletHub Analyst

@frankie.solo • 03/16/20 This answer was first published on 03/16/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The lowest interest options for fair credit are secured credit cards, meaning you’ll have to put down a deposit in the amount of the credit limit you want. So financing a big purchase on one of these cards wouldn’t get you ahead. It would require you to pay more of a deposit - which means you aren’t really getting a loan - plus an annual fee. If you’re planning on financing a purchase, you’re better off just paying for the purchase up-front.

Answer 3 · 2020-03-25 05:06:18

Archie Conway, WalletHub Financial Advisor

@ArchieConway • 03/25/20 This answer was first published on 03/25/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Several student credit cards have 0% intro APRs, which could help you save on a big purchase or two if you’re in school and have built a fair credit score already. But hardly any credit cards offer low regular APRs, whether you have fair credit or great credit. Paying your credit card bill in full and earning rewards is the way to go.

What are some low interest credit cards for fair credit?

Maria Adams, Credit Cards Moderator

HSBC Premier World Credit Card

Frankie Solomon, WalletHub Analyst

Archie Conway, WalletHub Financial Advisor

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