Is there a difference between Credit Cards for Average Credit and Credit Cards for
Actually these terms are interchangeable. This a regular, ordinary credit. Normal
An 'average' or 'fair' credit score ranges from 620-659. When describing
the credit required for these cards, different issuers use different terminology.
For example, Capital One describes the credit required as 'fair credit' while
BarclayCard uses the term 'average credit'. If your credit score is in the
above range, your options include both average credit applications and fair credit
For any of the above account types, you should review your finances and past borrowing
habits to figure out the best credit card deals for you. This might also include
doing a little bit of math after reviewing a number of offers to see what type of
card will work best given your unique financial situation and needs. For instance,
if you tend to not carry a balance over from one month to the next, you probably
will not need to worry about the interest rate very much, and might want to focus
more on one with no annual fee. Similarly, if the amount of spending you do will
earn you enough points, cash back or miles to overcome your interest charges and
annual fees, you might want a rewards card.
Finally, it's important to remember that you should think of card offers for those
with average or fair credit as a kind of stepping-stone. Your goal should
be getting the best possible credit score you can, and if you manage this account
correctly, your score will likely improve considerably, to the point that you might
be able to qualify for more beneficial cards down the road.
What Features and terms are available in cards for Fair/Average credit?
There are a number of account types that might be available in your credit category,
- Capital One credit cards
- Low APR cards
- No annual fee cards
- Rewards cards
Each comes with its own benefits and drawbacks. To get the best value, look at how
you will use the card and then compare cards in the fair credit category focusing
on the features you need and the fees and interest rates of each card.
For more information, check out our article:
How to get your best credit card? Do the math
Capital One has many of the best credit card offers for fair\average credit.
They don't pay us extra to say this.... It’s really true. Of the major Issuers,
One Credit Cards offer the best credit cards for average credit. From cards
for those with so-so credit history to student cards to cards designed to rebuild
or establish credit, Capital One offers a wide selection of products. More so than
any other major issuer, they have products for consumers across the credit spectrum.
Card also has a number of good offers targeted to consumers with average
credit. Finally, smaller issuers like Barclaycard also tend to position credit
card offers for fair or average credit.
Low APR cards
A low APR credit card will typically allow you to borrow and carry a balance without
paying sizable interest charges for doing so. Sometimes, this is the result of an
introductory rate that goes away after a certain period of time - which can be anything
from six to 18 months - and in other cases, the low APR is ongoing for the life
of the account. The drawback of these, though, is that cards with low introductory
rates typically carry higher rates when the first period expires, and those with
low ongoing rates typically carry annual fees that might make the account more troublesome.
Low APR cards do exist in the fair/average credit category.
One way to find them is to start on the Low APR page, and then scan for ‘fair credit’
or ‘average credit’ in the credit required field.
No annual fee cards
This type of card can be another great way to save money, as it will allow you to
control an account without paying for the privilege of doing so every year. No annual
fee cards are usually ideal for use in emergencies, as you can put them away in
a drawer and not worry about getting a bill for them until you use them. However,
these cards often carry higher interest rates than those with annual fees.
Earning cash back, points or miles for every purchase you make can be a great way
to save money. However, in many cases, these rewards credit cards carry higher interest
rates and annual fees than accounts with fewer benefits, and these can cancel
out the savings you enjoy from your rewards program.
Balance Transfer cards
Unfortunately, balance transfer cards are available only to those with excellent
credit, so this is not generally promising if you need to apply for a credit card
application with fair credit.
Compare Cards First - Apply Second
This might sound difficult or confusing, but to get your best credit card deal,
you’ll need to make a point-by-point comparison of several appropriate offers before
you apply for a credit card online.
Consider using the CreditCardApplication.com Search Engine or credit card
comparison matrix (found on the home page). These tools are designed to make finding
and comparing Your
best credit card offers easier.
So compare first so you only have to complete one fair credit card application that
best meets your specific needs.