Credit Cards for Fair Credit With No Annual Fee
With fair credit you sit right in the middle – best credit cards are still out of your reach, but you already have a decent choice of available offers. Finding a right credit card with fair credit – with no annual fee and high credit limit is not easy. Card features such as interest rates and annual fees can be confusing. Understanding the role your own credit score plays in your credit-worthiness can make a big difference in your overall success.
What is Fair Credit?
What exactly is “fair credit?” From an industry perspective, most merchants and lenders consider someone whose credit falls between a FICO score of 600 and 720 to have “fair” or “average” credit. Any lower than this and you have an increased risk; any higher and you probably enjoy good credit offerings much of the time.
High Limit Cards for Average Credit
Getting a high limit card on average credit does usually require some work and time. While cards with higher initial limits do exist, they are more difficult to qualify for and you should expect a trade-off in the way of interest and fees. Your increased risk status will naturally result in a higher yearly fee and a greater interest rate in nearly all cases. Fortunately, even if you initially qualify for a low credit limit, you can usually build up to a higher limit over time.
Most banks offer a credit limit increase option after 6 months of responsible card use.
It’s important to not only build a relationship with the credit card issuer but also to manage your account responsibly. This means making your payment on time every month and following the credit card issuer’s guidelines.
One of the high limit options is the Emporium card – technically a store card with the credit limit up to $5,000 and instant credit approval.
| regular APR | |
no fees
Up to $5,000 Spending Limit in Less than 60 Seconds! Shop from over 100,000 brand name products such as Apple, Samsung, Sony, Gucci, Prada and much more with low easy payments.
Less than Perfect Credit Accepted. Approval is quick and easy. Must be 18 years or older, have a valid checking account and a verifiable source of income.
Cards for Poor to Fair Credit
People with poor to fair credit are often considered to be in the rebuilding stage. This includes those who have declared bankruptcy in the distant past and those who don’t have any credit at all, such as college students. If you fall into this category, you will most likely have to take a secured credit card with a low limit first and prove you can use the credit responsibly. Even unsecured cards with no annual fee often start at a lower limit until at least the first six months.
| regular APR | |
no annual fee
bad credit or no credit
25 days grace period
$49-$200 security deposit
Best Cards for Students
Students usually have no credit history, which technically puts them in the average credit range.
Best credit cards for students can be found with no annual fee as well. Some of the best examples are Discover it Chrome for Students, Citi Thank You preferred for Students and BankAmericard Cash Rewards for Students.
| regular APR | |
- get 1500 bonus points after spending $1000 in the first 3 months
- earn 2x points on dining out and entertainment
no annual fee
no credit needed for students
up to 2x points and 15000 bonus
| regular APR | |
- earn 2% on grocery store and wholesale club purchases
- earn 3% on gas
- quarterly limit of $2,500 apply to gas and groceries combined purchases
- get $100 after spending $500 on the card in the first 3 months
no annual fee
2-3% cash back on gas, groceries, and wholesale club purchases
| regular APR | |
- earn 5% cashback on rotating quarterly categories
- 1% cashback on all purchases
- double cashback for first year
- $20 cashback annual bonus if your GPA is 3.0 or greater
no annual fee
no credit needed
5% cashback on changing categories
double first year cashback
