What is a tier 3 credit card?

Tier 1 credit is generally defined as a credit score of 750 or higher. The term is most commonly used among auto lenders, but other lenders use it as well. People with tier 1 credit have the highest level of creditworthiness and will usually receive the most favorable terms on loans and lines of credit. They are considered low-risk based on their credit history, income and debt, and they are the most likely people to...

Tier 2 credit cards require a “good” credit score: 700 to 749 on the standard 300-850 point scale. Tier 1 credit cards are for people with excellent credit (750 and above). And Tier 3 credit cards are for fair credit (640-699). Some people view Tier 2 as starting at 660 and Tier 1 at 720. But if you apply for cards based on that scale, you’ll find yourself more likely to be rejected.

Some...

Tier 4 credit cards are typically designed for people with poor credit. These cards often come with fees, high interest rates, and few (if any) rewards. Their main purpose is to help people with damaged credit start rebuilding it.

Lenders sometimes group applicants into tiers based on credit standing, with Tier 1 being the highest and Tier 4 the lowest.

Some of the Best Credit Cards for People With Tier 4 Credit

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