Best Credit Cards For Fair Or Average Credit 2024

Teens, young adults, and people who have never had a credit card before often have a lower credit score simply because they have less credit history. Responsible use of a credit card can build your score relatively quickly.

Capital One offers a line of cards with a straightforward path to improving your credit score. While the Platinum card doesn’t come with a rewards program, it also doesn’t charge an annual fee. If you don’t mind the fee and want to earn cashback, check out their Quicksilver line of cards instead.

Capital One reconsiders its cardholders for a higher credit limit automatically after only 6 months, making this a good card for a young person or someone with little credit history in their own name.

Account management tools like autopay and texted account alerts help you avoid damage to your credit score by forgotten or late payments.

If you are carrying credit card debt on other cards, you can also transfer it onto the Platinum MasterCard.

Students with a fair credit score should consider the Discover IT Student Chrome Card. Applicants do not need a credit score and can build (or re-build) a solid credit history while earning rewards and paying no annual fee.  Applicants DO need to provide proof of education when applying.

The cashback rewards make the Discover card a perennial favorite. Students automatically earn 2% cashback on purchases at restaurants and gas stations on the first $1,000 they spend each quarter. All other purchases earn 1% cashback.

Cardholders can decide if they want the cash back applied to their account balance or deposited into their bank account. Students can also earn statement credit for referring friends who are then approved for a card.

As a one-time bonus, Discover matches all the cashback that cardholders earned at the end of the first year. So, if you received $100 cash back, Discover will give you an additional $100 once you’ve had the card for one year.

If you plan to use your credit card for most of your regular purchases and build credit by keeping the balance paid, then the Capital One Quicksilver OneRewards card might be a good pick for you.

This card offers 1.5% cashback on all purchases. There is no cap. You can use your account management dashboard to decide how you want to apply the cashback – either as a statement credit or a check a couple of times a year.

The OneRewards card does charge a $39 annual fee. If you plan to use it for plenty of purchases, though, the cashback could likely cover this fee.

Overall, this is a good card for those with fair credit who want a straightforward cashback program that doesn’t vary among lots of different categories.

Rewards Bonus:

Some people spend significantly more in one category. Bank of America offers a credit card open to those with fair credit.

Customers choose a “top category” to learn 3% cashback: gas, restaurants, home improvement, online shopping, drug stores, or travel. Grocery and wholesale stores earn 2% cashback, and all other categories earn 1%.

This is a secured credit card, which means a security deposit is required to open the account. Amounts range between $200 and $5,000. In some cases, the deposit can be refunded after periodic review of your financial history, including other credit cards you may own.

While the deposit may be a barrier to entry for some, the Cash Rewards Secured Credit Card charges a $0 annual fee and carries a fairly low APR, at 27.99% variable APR.