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What Are The Best Credit Cards for Fair/Average Credit of 2018?

Find the Best Credit Card for You

What kind of card do you want?

What's your credit score?

Having an average or fair FICO score (670–699) doesn't mean you can't get your hands on some amazing credit cards. If your score has climbed to the upper 600s, you can get your first taste of credit cards with rewards rates of 1.5% to 2%. Our guide will help people with average credit find the best credit cards that suit their lifestyle and goals. In order to cater to different types of consumer needs, we have divided our top picks into the following categories.

The Best Credit Cards for Fair/Average Credit in 2018 Are...

The cards listed here are among the best in their respective categories. In our analysis, we tried to select credit cards that fulfill each role for a broad range of spending profiles. If you are looking for a more personalized list of credit cards, jump to our tool below.

Best For Cash Back: Capital One® QuicksilverOne® Cash Rewards Credit Card

If you have an average credit score and want cash-back rewards, the Capital One® QuicksilverOne® Cash Rewards Credit Card is the way to go. There's no sign-up bonus, but you'll get a strong 1.5% cash-back rate on all purchases. We strongly recommend you only get this card if you plan to charge at least $7,800 per year. If you spend less than that, it doesn't make sense to pay this card's $39 annual fee. Normally, a bonus would offset this cost for at least several years. However, the Capital One® QuicksilverOne® Cash Rewards Credit Card doesn't offer one.

If you're actively working on improving your credit score, the Capital One® QuicksilverOne® Cash Rewards Credit Card also comes with some great features. First, you can monitor your credit score with Capital One's CreditWise program. This way you can see how your spending and credit behavior influence your score. Secondly, Capital One may give you a higher credit line after you make five monthly payments on time. This can improve your credit utilization—a major factor in your credit score. Do not confuse this credit card with the Capital One® Quicksilver® Cash Rewards Credit Card. The two have similar names, however, the Capital One® Quicksilver® Cash Rewards Credit Card is intended for people with excellent credit.

Highlights

Best For Travel: Discover it® Miles

The Discover it® Miles is one of the best "no-annual-fee" credit cards. It awards 1.5 miles for every dollar you spend. That translates to a 1.5% rewards rate anywhere you shop. This kind of setup is ideal for most consumers who don't want to think about optimizing their rewards. Instead, this card simply gives you an above-average rate anywhere you shop. In lieu of a traditional bonus, the Discover it® Miles doubles all the rewards earned by new cardmembers at the end of their first cardmember year. That effectively gives this card a 3% rewards rate on all purchases during that time. What makes this card especially useful for travel is the lack of foreign transaction fees. When you use your card outside the U.S., most would charge you around 3% of every transaction. The Discover it® Miles waives that charge, which means you can use it anywhere you go.

Highlights

Best For Airline Miles: Southwest Rapid Rewards® Plus Credit Card

Despite their high value, some co-branded airline credit cards—such as the Southwest Rapid Rewards® Plus Credit Card—are within the reach of consumers with average credit scores. This card, in particular, also made our overall list of best airline miles credit cards. If you get the Southwest Rapid Rewards® Plus Credit Card, this card will be a top-tier choice to keep in your wallet, even as time goes on and your credit score improves.

The bonuses help make the Southwest Rapid Rewards® Plus Credit Card a great choice. You can earn 40,000 bonus points for spending $1,000 within the first three months of account opening and 20,000 more points for spending $12,000 in the first year. (You can earn either or both.) Plus, on your account anniversary, you will receive another 3,000 bonus miles. By our calculations, this bonus is worth approximately $66—which takes care of a majority of the card's annual fee.

Highlights

  • Get 40,000 bonus miles after spending $1,000 on purchases within the first three months of account opening.
  • Get 3,000 bonus miles every account anniversary.
  • Points earned through this card help you qualify for Southwest Airline's Companion Pass.
  • Southwest Rapid Rewards® Plus Credit Card Review

Best For Students: Discover it® Student Cash Back

Many people with a thin credit profile tend to turn to student credit cards as an option. One of our favorites in this category is the Discover it® Student Cash Back. Cardholders earn 5% cash back on up to $1,500 in purchases each quarter when they activate set bonus categories. These categories include gas, restaurants, wholesale clubs and more. Earn 1% cash back on all other purchases.

Period

5% Cash-Back Category
January–March 2018Gas stations and wholesale clubs
April–June 2018Grocery stores
July–September 2018Restaurants
October–December 2018Amazon.com and wholesale clubs

For new cardmembers, Discover will also double all the cash back you earn during your first year—uncapped. This means that in the first year, the Discover it® Student Cash Back will essentially earn you at least a 2% rewards rate on all spending.

Highlights

  • Get a $20 statement credit each school year your GPA is 3.0 or higher for up to five years.
  • New cardmembers get their cash back doubled at the end of their first year.
  • Free credit tracking capabilities to monitor your credit score.
  • Discover it® Student Cash Back Review

Best for Balance Transfers: Chase Slate®

Chase Slate®
This card is not available through ValuePenguin.

If you're dealing with credit card debt that seems out of control, it may be worthwhile to get a balance transfer credit card like the Chase Slate®. This card gives users a 0% introductory APR on both balance transfers and purchases for the first 15 billing cycles. If you transfer a balance to the card within 60 days of account opening, the balance transfer fee (usually 3%) will be waived. This makes the Chase Slate® one of the best balance transfer credit cards around. For example, if you have a balance of $7,700 on a card with an APR of 15%, and you can only afford to make monthly payments of $500, it will take you 17 months to pay off that debt. If, however, you move that balance to the Chase Slate®, you could pay back the debt a month faster and save $775 in interest charges.

Highlights

  • No balance transfer fee on balances transferred within 60 days of account opening.
  • Get a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles.
  • Chase Slate® Review

Best For Business: Capital One® Spark® Classic for Business

If you're a business owner with an average FICO credit score, the pool of available credit cards is limited. Fortunately, the Capital One® Spark® Classic for Business is a good option for people who fit this profile. You'll get a modest 1% cash back on all purchases, but as your credit score improves, you may upgrade this card to one of its more lucrative counterparts. The Capital One® Spark® Cash for Business or Capital One® Spark® Miles for Business can double the rewards rate you'll have on the Capital One® Spark® Classic for Business.

The Capital One® Spark® Classic for Business comes with some added features that can help manage your business's finances. You can add employee cards at no extra cost. And for budgeting and accounting purposes, you can download purchase records to software programs such as Quicken, QuickBooks or Excel. Capital One will also send quarterly and year-end spending reports that can help you plan your budget or organize expenses for tax time.

Highlights

  • Issue employee cards at no additional cost.
  • Access purchase and spending data to help with accounting.
  • Get 1% cash back on all purchases.

Strategy: What to Do When You Have Average or Fair Credit?

Most individuals with a FICO score below 700 are likely in the middle of their credit building journey. While getting one of the above credit cards will surely earn the best value for the time being, you'll want to continue to build your credit history in order to get even better credit cards and maximize your savings. There are many ways to earn a good or excellent credit score, but the most important one is making on-time payments. Pay your credit card bills in full and on time every month, and your FICO score is bound to climb. One way to help remind you to make the payment is to set up alerts or reminders on your cell phone or through your email.

Once you have that step down, you can look at all the different factors that affect your credit score. Try to identify the bottlenecks that are preventing you from hitting those 700s. If you're taking all the right steps, the best thing you can do now is to wait. You may have heard that building credit is a marathon, not a sprint—and it's true. Be patient, and eventually your score will rise.

Comparison Tool

If you are still left unsure as to which credit card is best for your individual needs, you can use our interactive tool below. By inputting your spending, we will calculate which of these credit cards will yield you the highest net rewards.

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Assumptions based on $1,430 monthly spend
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{"cardCategory":"rewards","cardIds":"35,36,45,163,202,194,204,66,268,1163","initialResultsLimit":0,"endpoint":"https:\/\/creditcards.valuepenguin.com\/api\/creditcards\/models\/rewards","onCurrent":"true"}

Comments and Questions

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* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: Premier Rewards Gold Card from American Express, Delta Reserve® Credit Card from American Express, Platinum Delta SkyMiles® Credit Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Amex EveryDay® Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, Starwood Preferred Guest® American Express Luxury Card, and Amazon Business American Express Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred® Card points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).