Credit Cards » Compare Credit Cards » Best Credit Cards for Fair Credit in 2022
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Best Credit Cards for Fair Credit in 2022

There are a couple of cards that provide cash back rewards for fair credit. Here are The Smart Investor top cards for fair credit
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Mann (Silvermann) is an experienced investor, financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Mann (Silvermann) is an experienced investor, financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Mann (Silvermann) is an experienced investor, financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

You can trust the integrity of our unbiased, independent editorial staff. We may, however, receive compensation from the issuers of some products mentioned in this article. See how we make money.

Fair credit is a credit score range that falls in the 580 to 669 range on a FICO score, or 601 to 660 on a VantageScore model. This credit range is below average for most American consumers, and it tells lenders that a borrower is more likely to default on their obligations. Therefore, most borrowers in this credit score range may miss out on most credit card offers since they are considered subprime.

A fair credit score is a few points lower than a good credit score, but these two credit score groups vary considerably in terms of the borrowing opportunities available and the terms of the loan. Borrowers with good credit are considered to be less likely to default on a loan, and can therefore get approved for a credit card and get a better APR than a borrower with fair credit.

Credit cards are some of the best credit-building tools that can help you add more points to your credit score. In addition, there are a couple of cards that provide cash back and other rewards also for fair credit.

Here are The Smart Investor select's picks of top credit cards for fair credit:

Capital One QuicksilverOne Cash Rewards

Capital One QuicksilverOne Cash Rewards

On Capital One Website, Terms Apply

Capital One QuicksilverOne Cash Rewards

Reward Details

Unlimited 1.5% cash back on every purchase 1.5% cash back on every purchase

Current Offer

None

Credit Rating

Fair

Annual Fee

$39

0% Intro

None

APR

26.99% (Variable)

On Capital One Website, Terms Apply

The Capital One Quicksilverone Cash Rewards card earns 1.5% cash back on every purchase, without requiring category activations while it's one of the few cash back credit cards that require a fair credit. However, make sure to pay on time since the variable APR is quite high.

QuicksilverOne Cash Rewards card charges  an annual fee of $39 and can be a good choice if you are looking for a credit card for fair credit to earn cashback rewards across all purchase categories at a low annual cost. 

  • APR: 26.99% (Variable)
  • Annual fee: $39
  • Balance Transfer Fee: None
  • Foreign Transaction Fee: 3%
  • Rewards Plan: 1.5% cash back on every purchase
  • Sign Up bonus: None
  • 0% APR Introductory Rate period: None
  • 1.5% Cash Back
  • Build Your Credit
  • No Rewards Limits
  • No Transfer Fees
  • No-Cost Fraud Liability
  • Annual Fee
  • Redemption Limits
  • Foreign Transaction Fee
  • High APR

Is there a limit to cash back rewards?

There is no sort of limit in place as to how many rewards you are able to get when using the Capital One QuicksilverOne Card to make purchases.

Can I get car rental insurance with QuicksilverOne Card? how?

Yes, if you decline the insurance from the car rental company and pay for the entire rental with your Capital One QuicksilverOne Card you will be able to get coverage.

Does card QuicksilverOne Card travel rewards points expire?

Once you keep your account open, the rewards that you earn through making purchases with the Capital One QuicksilverOne Card will not expire.

What are QuicksilverOne Card income requirements?

There are no income requirements that you will need to meet when you are applying to get your hands on a Capital One QuicksilverOne Card.

What is the initial credit limit?

You will get at least $300 in credit limit straight away with the Capital One QuicksilverOne Card. Higher limits are possible and will depend on your personal financial situation.

How do I redeem cash back on QuicksilverOne Card?

You can redeem the rewards that you earn when using the Capital One QuicksilverOne Card for cash, statement credit, or for gift cards from certain retailers.

How hard is it to get QuicksilverOne Card?

You often need to have a credit score of at least 620 in order to get the Capital One QuicksilverOne Card. The rest of the requirements are quite straightforward.

 

Discover it® Student Cash Back

discover-it-student-cash-back_5mNPw7i

On Discover Website, Terms Apply

Discover it® Student Cash Back

Reward Details

1-5% 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases

Current Offer

Match Bonus for the first 12 months Match Bonus for the first 12 months

Credit Rating

Fair

Annual Fee

$0

0% Intro

6 months on purchases

APR

13.24% – 22.24% (Variable)

On Discover Website, Terms Apply

The Discover it® Student Cash Back card designed for students alone with fair credit score. It is one of the best products for those in higher institutions in the US. It is ideal for clients starting their credit journey and wish to earn cashback rewards. The rewards plan includes 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases.

There is a match bonus on all cash backs after your first year, as well as o% intro APR for 6 months on purchases. The card is widely accepted across the US, and it offers a series of benefits, including good grade rewards for students with a gpa of 3.0 and higher. 

  • APR: 13.24% - 22.24% (Variable)
  • Annual fee: $0
  • Balance Transfer Fee: %5
  • Foreign Transaction Fee: 0%
  • Rewards Plan: 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases
  • Sign Up bonus: Match Bonus for the first 12 months
  • 0% APR Introductory Rate period: 6 months on purchases
  • Introductory Rates
  • Cash Back Rewards
  • No Annual Fee
  • Limited Use outside the US
  • No International Students
  • Activate Bonus Categories Every Quarter

  • Is there a limit to cash back rewards? Bonus categories capped at $1,500 in total relevant purchases per quarter.
  • Can I get car rental insurance with Discover it Student Cash Back? how? No
  • What is the initial credit limit? It is often $500
  • How do I redeem cash back? The rewards can be redeemed at any time for the likes of electronic deposits, statements credits, charitable donations or to pay at certain retailers like Aamzon.com.
  • What purchases don't earn cash back? All purchases earn cashback
  • How hard is it to get Discover it Student Cash Back Card? Not hard, no credit/fair score needed.
  • How to maximize rewards? Activate and maximize the bonus categories each quarter..
  • Does Discover ask for proof of income? No 
  • Can I get pre-approved ? Yes

Chime® Credit Builder

chime card

On Chime Website, Terms Apply

Chime® Credit Builder

Reward details

None

Current Offer

None

Credit Rating

Good – Excellent

Annual Fee

$0

0% Intro

N/A

APR

0%

On Chime Website, Terms Apply

Building credit after a credit blunder or establishing credit for the first time can be difficult. To qualify for most cards, you must be able to demonstrate your ability to manage credit, which can be a catch.The Chime Credit Builder card was created to address this issue. It is intended to be used in conjunction with a Chime Spending Account.

You can fund your Credit Builder card with funds from your account. You can then use your card at any retailer or store that accepts Visa. Chime will notify Equifax, TransUnion, and Experian about your card activity. There is also the option to enable the Safe Credit Building feature. This automatically pays your card's balance on time.

The main limitation of the card is that your card limit is determined by the balance in your account. So, if you have $300 in your account and spend $150 on your Chime Credit Builder Card, your limit will be $150 for the next month until you add more funds to your account.

  • Rewards Plan: None
  • APR: 0%
  • Annual fee: $0
  • Balance Transfer Fee: N/A
  • Foreign Transaction Fee: 0%
  • Sign Up bonus:None
  • 0% APR Introductory Rate:N/A
  • No Minimum Deposit
  • No Fees
  • No Credit Check
  • Auto Payment Option Available
  • You Need a Chime Spending Account
  • Need Funds to Set Your Credit Limit
  • Card Limit Can Vary
  • No Credit Utilization Score
  • No Option to Upgrade to Another Card

What are the Card Income Requirements?

Chime does not have any income requirements for the Credit Builder credit card. You will need to open a Chime Spending account, but this does not require a credit check. This means that you will not need to prove your income to access the Chime banking services.

Does the Card Ask for Proof of Income?

This is not necessary for Chime, but to determine your credit limit, Upgrade may require that you provide proof of income.

Can I Get Pre Approved?

The only pre approval you need for the Chime card is to open up a Chime Spending account, but this does not require a credit check. It is not possible to open a Chime card account without having a Spending account.

What is the Initial Card Credit Limit?

Your initial Chime credit limit will be determined by how much you transfer to your Credit Builder account. You can transfer as little or as much as you like and then use the card as you would a prepaid debit card.

What are the top reasons not to get it?

The top reason not to get the Chime card is that you don’t want to open a Spending account. The Chime card is an integrated product, which requires transfers from a Chime Spending account. So, if you are happy with your current checking account and simply want a credit card, this is not the right choice for you.

Does the card report payments to all credit bureaus?

Chime does report payment activity to all the credit bureaus, which helps to build or rebuild your credit.

Petal 2 Visa

Petal 2 Visa card Review

On Petal 2 Website, Terms Apply

Petal 2 Visa

Reward Details

Up to 1.5% cash back 1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments

Current Offer

None

Credit Rating

Fair

Annual Fee

$0

0% Intro

None

APR

12.99% – 26.99% Variable

On Petal 2 Website, Terms Apply

Petal 2 Visa Credit Card offers you the benefits of a rewards card, no fees attached and great for those who have fair-average credit score. This card does not charge annual fees, maintenances fees, foreign transaction fees, over limit fees, late payment fees or any kind of fee. It is a great choice for people who want to build their credit up without forgoing rewards. These rewards are offered as cash backs which will increase depending on your level of financial responsibility.

While using this card does not attract any direct fees, users who have a habit of defaulting in monthly payments will not get the best value out of this card. Considering that the upper limit of the APR is high, poor account management may have you paying considerably higher than you would expect to.

  • APR: 12.99% - 26.99% Variable
  • Annual fee: $0
  • Balance Transfer Fee: N/A
  • Foreign Transaction Fee: $0
  • Rewards Plan: 1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments
  • Sign Up bonus: None
  • 0% APR Introductory Rate period: None
  • No Fees
  • Cash Back Rewards
  • Reports to all Three Major Credit Bureaus
  • No Deposit Required
  • No Balance Transfer or Cash Advance
  • No Intro APR
  • Quite High APR

How long should I use the card to increase my credit score?

There is no set amount of time to increase your credit score, as this will depend on your circumstances. However, a good rule of thumb is three to six months. After this time, you should be able to see an increase in your FICO score.

Can I add an authorized user?

No, the petal 2 card issuer permits adding another user to your account.

How long does it take to get approval?

Petal has a similar time frame for its application approval. You’ll get an email decision quite quickly and should receive your new card within 10 days.

How is the card customer service availability?

The Petal customer support hours are 8 am to 10 pm EST Monday to Friday and 9 am to 6 pm on Saturdays.

Do the cards report payments to all credit bureaus?

Yes, Petal reports its account activity to all three of the credit bureaus. 

Does the card ask for proof of income?

Petal does typically verify your bank account and need confirmation of some key expenses. So, you may need to have proof of income to support your application. 

 

Capital One Walmart

Capital One® Walmart Rewards® Card

On Capital One Website, Terms Apply

Capital One Walmart

Reward Details

1-5% 5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted

Current Offer

5% cash back in Walmart stores for the first 12 months 5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval

Credit Rating

Fair

Annual Fee

None

0% Intro

None

APR

17.99% – 26.99% (Variable)

On Capital One Website, Terms Apply

Capital One Walmart Credit Card  is one of the credit cards on the market that is a store card that allows borrowers who do not have perfect credit to apply and be approved. The Walmart Credit Card earns 5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted.

The card sign up bonus includes 5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval. The card has no annual fee and the fact that average credit is also accepted, it can be good for those who have fair credit and want to build or rebuild their credit.

  • APR: 17.99% - 26.99% (Variable)
  • Annual fee: None
  • Balance Transfer Fee: 3%
  • Foreign Transaction Fee: Unknown
  • Rewards Plan: 5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted
  • Sign Up bonus: 5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval
  • 0% APR Introductory Rate period: None
  • High Cash Back on Walmart
  • No Annual Fee
  • Sign Up Bonus
  • Foreign Transaction Fee
  • High APR

Does Walmart limit the amount of rewards I can get?

There are no rewards limits on the Capital One Walmart Rewards card, so you don’t need to worry about monitoring how much you’re spending in each category.

What are the top reasons not to get the Walmart card?

The top reason not to get the Capital One Walmart Rewards is if you prefer to shop in store. The card prioritizes Walmart.com purchases. If this doesn’t apply to you, you may find other reward cards offering a high percentage on groceries will be better suited to your spending habits.

How much should I spend to cover the card fees?

The Walmart card doesn't charge an annual fee, so you don’t need to worry about spending a certain amount to cover the costs. In this case, unlike other store cards, you won't need any membership plan to enjoy benefits.

What’s the initial credit limit?

The initial credit limit for the Capital One Walmart Rewards card is $150, but it is more common to be offered a higher credit limit, depending on your credit.

What are the card income requirements?

You can qualify for the Capital One Walmart Rewards card with average to excellent credit, so this could be a little easier. However, the card issuers may require you to verify your income, so it could be a good idea to have a couple of pay slips on hand to support your application.

Upgrade Visa® Card with Cash Rewards

Upgrade Visa® Card with Cash Rewards

On Upgrade Website, Terms Apply

Upgrade Visa® Card with Cash Rewards

Reward Details

1.5% cash back 1.5% cash back on payments

Current Offer

$200

Credit Rating

Fair

Annual Fee

$0

0% Intro

None

APR

8.99% – 29.99%

On Upgrade Website, Terms Apply

The Upgrade Visa® Card with Cash Rewards is a good pick if you are looking for a no-annual-fee credit card with a flat-rate cashback reward while having a fair-average score. A particularly attractive feature of the Upgrade Visa Card in relation to similar credit cards is the complete absence of fees, transactional or otherwise, on the card.

It offers 1.5% cash back on payments, but you should be aware that the cash backs on all your purchases with this card are only given when you make payments, not before. This is the only reward you get; so if you want intro rates or welcome bonuses, consider other alternatives.

Unlike conventional credit cards which charge you daily interest for carrying a balance, this card practically gives you a personal line of credit ($500 – $25,000 or more). This will be split into equal installments which you pay every month. You may use your credit line on purchases online, at retail stores, or even transfer the funds from your card to your personal bank account at no extra cost.

  • APR: 8.99% - 29.99%
  • Annual fee: $0
  • Balance Transfer Fee: None
  • Foreign Transaction Fee: None
  • Rewards Plan: 1.5% cash back on payments
  • Sign Up bonus: $200 bonus on your Upgrade Card after opening a Rewards Checking account and making 3 debit card transactions
  • 0% APR Introductory Rate period: None
  • Unlimited 1.5% Cash Back
  • No Fees
  • Reports to Three Major Credit Bureaus
  • No Deposit Required
  • No Grace Period
  • Inflexible Payments
  • No Signup Bonus
  • Limited Availability

What are the Upgrade Card Income Requirements?

Upgrade does run a credit check for its credit cards, so your income to debt ratio will be a deciding factor. However, you can obtain pre approval for the cards, so you can confirm that you have sufficient income to qualify for the minimum credit limit.

Does the Card Ask for Proof of Income?

Upgrade will use your application information to determine pre approval, but to confirm your application, you may need to provide copies of paystubs or other proof of income.

What are the top reasons not to get the Upgrade card?

The top reason for not getting an Upgrade card is that you don’t want the card company to run your credit. If you already know you have a bad score or no credit history, a hard credit pull could have detrimental effects.

Can I add an authorized user?

Upgrade doesn't allow second users on their credit cards, so it is not possible to add an authorized user on these accounts.

How is Upgrade customer service availability?

If you want to speak to the Upgrade customer service team, there is a toll free number open Monday to Friday, 6 am to 6 pm and 6 am to 5 pm on weekends (Pacific Time). Alternatively, you can email the support team, but you’ll need to wait for a response