The
Credit One Bank® NASCAR® Credit Card is an unsecured rewards credit card for people with
fair credit. It offers a starting credit limit of
$300 in return for an annual fee that could be
$0 - $39, depending on creditworthiness. However, any balance that you carry from month to month with the NASCAR Card will accrue interest at a very high rate.
Perhaps the best part of the NASCAR Credit Card offer is the rewards. Cardholders earn 1% cash back on all purchases, but a lower annual fee would likely trump such rewards earnings for most people with poor credit.
All things considered, the NASCAR Credit Card is a decent option if you have
fair credit and really do not want to put down a refundable security deposit to get a secured card. There simply aren’t many unsecured credit cards with even semi-low costs. Just know going in that you’ll have to pay more in the long run, relative to a secured card, for the unsecured spending power now.
If you need more information before making a decision, you can learn more about the NASCAR Card’s strengths and weaknesses below.
NASCAR Credit Card Review Highlights: - $300 Minimum Credit Limit. Your initial spending power could be as low as $261 considering the annual fee, which is assessed when you open the account.
- Average Rewards Rate. Credit One Bank® NASCAR® Credit Card gets you 1% unlimited cash back on all purchases.
- Potential for High Annual Fees. The NASCAR Amex may charge up to $39 each year. The average annual fee on a credit card is about $21.5.
- High APR. At 29.24% (V), the NASCAR Card’s APR makes carrying a balance from month to month cost a pretty penny. The average credit card APR is 22.39%.
- Not Much Competition with No Deposit. Unsecured credit cards for people with poor credit are notoriously expensive. In addition to high annual fees and APRs, some charge application processing fees and monthly fees. All you get in return is a very small amount of spending power that you don’t need to pre-pay for. This is why secured credit cards, which tend to be much cheaper in the long run, are a better bet if you don’t need an emergency loan. They can help you build credit just the same.
- Much Depends on Creditworthiness. Several key aspects of the NASCAR Credit Card offer will be up in the air when you submit an application, including its annual fees and interest rate. You won’t find out the particulars until you’re approved for an account. That kind of uncertainty makes it difficult to compare credit card offers with confidence.
Before you can apply for the NASCAR Credit Card, you have to check for pre-approval first. This should be quick, won’t affect your credit score, and will tell you if you have high approval odds.
