How to choose best credit card for fair credit? - Limited/Bad/Fair Credit Questions


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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How to choose best credit card for fair credit?

How to choose best credit card for fair credit?

Answered on | Updated on February 27th, 2018
The content is accurate at the time of publication and is subject to change.

With innumerable people opting to save money with the help of balance transfer credit cards, mortgage companies and banks are being meticulous regarding whom they should loan money. With the inflation raising the price of even the basic commodities, the credit card’s balances are stacking up for almost every individual.

Let us outline some of the outstanding credit cards offered on the basis of average, to fair credit.

Fair credit can be generally described as the financial condition of an individual, based on the basic facts on bill payments, amount of debt and the history of previous payments. Card companies usually scrutinize your earnings, debt load, assets as well as the repayment ability before approving your credit card loan application.

With fair credit, it doesn’t mean that you have to choose an obnoxious card which rather than helping you out, hurt your score even further. Every credit card possesses distinct advantages and drawbacks too, so it is recommended to read the fine print before applying.

Regular Credit cards for fair credit

Visa Classic Card from Iberia Bank is an absolute hands down, for people with average credit it can be termed as a best credit card. It extends 4% rate for purchases being made and 0% transfer offer. If your credit score is above average and moves into the fair score category, there is Credit One Bank Unsecured Visa card which comes with annual fee but it can be offset by rewards program.

Reward Credit cards for fair credit

There are not a lot of good reward programs offered to credit card applicants with fair to average credit. There is one exceptional card to discard this general notion, and that is the Accelerated Rewards(TM) American Express® Card, offered by Bank of America to borrowers with average credit. Some of the eye catching features include no annual fee, and a 0% offer introduced to access the reward programs. The rate for balance transfers and new purchases is also fixed to a minimal value.

Card issuers intend to approve maximized credit limit for fair credit. People tend to under apply with the fear of being turned down. While applying for a credit card, ensure you fill in correct and precise financial details. This will ensure you get the best possible offer from the bank and at rates that are competitive enough for you to consider.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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