An average credit score shouldn’t stop you from getting your hands on rewarding credit cards. If your score soars through upper 600’s then you’re in luck because most of the cards mentioned in our “Best Credit Cards for Fair Credit” archive may very well be of some benefit for you. Not only do these cards offer rewards (up to 2% cash back), but also gives you the chance to increase your credit score as well. Note that our goals are to map out which card offers you rewards suitable with your lifestyle and spending habits, so here’s our top picks! You may want to consider something from our Best Secured Credit Cards of 2018 as well.
 | Chase College CheckingSM: Get $100 as a new Chase checking customer when you open a Chase College CheckingSM account and complete 10 qualifying transactions within 60 days of account opening. Get Coupon---Chase College Checking Review |
| Chase Secure BankingSM: Earn a $100 bonus when you open a new Chase Secure BankingSM account online or enter your email address to get your coupon and bring it to a Chase branch to open an account. Make sure to complete 10 qualifying transactions within 60 days of coupon enrollment. Apply Now---Chase Secure Banking Review |
| Chase Private Client: Enjoy up to $3,000 bonus when you open a new Chase Private Client Checking account with qualifying activities. Get more from a personalized relationship when you open a new Chase Private Client Checking account with qualifying activities. Learn More---Chase Private Client Review |
There are 5 factors that make up your FICO credit score. Your credit history report will have positive and/or negative data that are categorized into these 5 factors to determine your overall FICO credit score. The importance of each factor is weighed by percentage and varies by each individual but is summarized for the general population.
- Payment History 35%: One of the most important factors is whether you’ve paid past credit accounts on time. Lenders are more willing to approve loans if you’ve proven that you can make the payments.
- Amounts Owed 30%: When a high percentage of a person’s available credit is reached, this can indicate that a person is overextended and is more likely to make late or missed payments.
- Length of Credit History 15%: How long your credit accounts have been established will raise your score, including the age of your oldest account, how long credit accounts have been established, and how long it has been since you used certain accounts.
- Credit Mix in Use 10%: Having a variety of credit lines of finance accounts, credit cards and installment loans with a good payment history will increase your credit score.
- New Credit 10%: Opening several credit accounts in a short period of time represents a greater risk especially for people who don’t have a long credit history.
By now, you should already be aware that knowing your credit score is imperative; having a proper credit score allows for the ability to not only grab loans, but get lower APR on them as well, whether it be buying a house or buying a car, starting a business or even getting a job, your credit score can become quite necessity. Since we’ve mapped out some of the Best Mortgage Rates, Refinance Rates and Lenders of 2018, we’d like to provide reference to recommended mortgage lenders to give you even more of a sense of encouragement. Our list includes top lenders like J.G. WentWorth, Lending Tree, Quicken Loans & Rocket Mortgage, SoFi and much more! Let’s all grab lower rates and get the best out of our savings for the sake of the New Year!
Recommended Secured Cards:
The Discover IT is quite the remarkable card when it comes to rewards and individuals with relatively fair credit scores have been getting a huge success rate when it comes to approval. Essentially, you’ll be earning 5% cash back in quarterly categories, up to $1,500 each quarter and if you’re a new cardholder, you’ll be able to get double your cash back until the end of the first year of card membership.
In regards to this list, I rank the Discover IT Miles on the same premise as the Discover IT on the notion that the Discover IT Miles is is a consistent 1.5% cash back everywhere, doubled for the first year as well which makes it a substantially great card for travel considering that there’s no foreign transaction fees attached. So it’s to your decision which Discover card is most suitable for you.
Discover it Credit Card Summary:
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- Maximum Bonus: New members can double the cash back earned at the end of the first year, up to the maximum of $1,500 each quarter for 5% cash back purchase categories and no limit for all other 1% cash back purchases.
- Spending Requirement: None
- Annual Fee: $0
- Bonus Worth: Total yearly maximum of $6,000 for 5% cash back category purchases plus amount earned for all 1% cash purchases which does not have a limit.
- Expiration Date: None
- Additional Advice: Get the Discover IT Miles and redeem the double cash-back match up for a whole year for 3% cash back everywhere and then product change to a Discover IT for 5% categorically.
The Capital One® Quicksilver® Cash Rewards Credit Card earns you 1.5% cash-back everywhere with no annual fee attached. This card has been in the industry for quite some time now and is pretty much known for those with fair credit looking for easier approval. In fact, most Capital One cards are catered that way. On top of that, you’ll be earning Unlimited Rewards – no limit on how much you can earn, and no changing categories!
Capital One Quicksilver Cash Rewards Credit Card Summary:
- Learn more about Capital One Quicksilver Cash Rewards and apply here
- Maximum Bonus: $100 Cash Bonus
- Spending Requirement: Make at least $500 in purchases in first 3 months
- Annual Fee: None
- Bonus Worth: $100
- Expiration Date: None
- Additional Advice: Points don’t expire and there is no cap, so how much you gain back is completely up to you!
The Chase Freedom Unlimited® is a great choice for those of you that want consistent cash back and rewards redemption towards Ultimate Rewards. With this card, you’ll be earning 1.5% Ultimate Rewards everywhere with an attractive no annual fee attached. Convenience and flexibility with your spending is definitely a luxury that I recommend every average credit scorer wanting rewards to seek first before anything.
Editor’s Note: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
Chase Freedom Unlimited® Credit Card Summary:
- Learn More
- Maximum Bonus: $150 Cash
- Spending Requirement: $500 in spend within the first 3 months of account membership
- Annual Fee: $0
- Bonus Worth: $150
- Expiration Date: None
- Additional Advice: Pair with a Chase Sapphire Preferred® Card for more value
The Platinum Credit Card From Capital One is an essential for those of you that are looking to build your credit scores. From a higher credit line to fraud coverage and credit tracker at no annual cost, this card is a great card for those with average credit. Keep track of your finances and get 100% free access to Capital One Credit Tracker with tools including credit simulator and so much more to help monitor your credit profile.
Platinum Credit Card From Capital One Summary:
- Learn more about Capital One Platinum Rewards and apply here
- Best Feature: benefits such as a higher credit line, fraud coverage, and a credit tracker
- Annual Fee: none
- Expiration Date: none
- Additional Advice: this card is for people with average credit
If you’re a college student with average credit, then you may be in luck because the Capital One Journey Student Credit Card could be beneficial for you with quite the easy cash-back rewards structure that rewards you for developing better credit habits. The card earns you 1% cash back on all your purchases in addition to a 25% cash-back bonus earned each month that you pay on time. 1.25% cash back may not seem like a lot in terms of rewards, however, it’s an easy card to get your hands on, especially for college students.
Journey Student Credit Card Summary:
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- Best Feature: Cashback on all purchases
- Annual Fee: None
- Expiration Date: none
- Additional Advice: this card also comes with Visa Platinum Benefits such as 24-hour travel assistance services, extended warranty, and auto/travel insurance benefits
The Chase Slate® gives you 0% introductory APR for 15 months on purchases AND balance transfers with $0 introductory balance transfer fees for transfers made within the duration of the first 60 days. This is an exceptional card that has been helping credit card users not only pay of their credit card debt, but build their credit score since 2011. In addition to that, the Chase Slate carries no penalty APR and free monthly FICO access.
Chase Slate Credit Card Summary:
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- Balance Transfers & Purchases: 0% introductory APR for 15 months
- Requirement: If you move your high-interest debt onto the Chase Slate within 60 days of opening your account, it will waive its 3% balance transfer fee .
- Annual Fee: $0
- Bonus: None.
- Expiration Date: No expiration
- Additional Advice: Since the Chase Slate card lets you transfer balances without a balance transfer fee for the first 60 days, you will benefit the most by using this card to get out of debt. Once you become debt-free and can pay your balance in full each month, we recommend considering a rewards card that doesn’t charge an annual fee. A good option is the Chase Freedom card, which offers 5% back on bonus categories that differ every 3 months and 1% on all other purchases.
One thing that I want to get out of the way is that although Synchrony Bank gets an “iffy-rep” for some of the cards that they issue, they still offer some fantastic cards with some actually bold rewards structures for average credit-scorers. One example would be the Amazon.com Store Card is a credit card issued by Sychrony Bank, essentially with a $10 Amazon.com Gift Card bonus, 5% cash back on every day purchases on Amazon.com, and a multitude of promotional financing offers. Remember that all Synchrony Cards can boost your credit score, but it comes at the price of an absolutely hefty APR ranging from 26.99%-29.99% most of the time.
Amazon.com Store Card Summary:
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- Best Feature: $10 Amazon.com gift card + 5% back
- Annual Fee: None
- Expiration Date: None
- Additional Advice: Amazon Prime Members get 5% back (as a statement credit) on qualifying purchases made with their Amazon Prime Store Card, an upgrade from their existing Amazon.com Store Card
Conclusion:
Ah, an average credit score… We’ve all been there, so don’t fret. Getting a credit card that’s not only rewarding for you, but healthy for your credit score shouldn’t be something to stress over. I can satisfyingly say that anything from Discover Bank or Capital One’s line-up of credit cards can be beneficial for you. If you’re looking for a top contender in terms of rewards, then the Discover IT or the Discover IT Miles could be a great opportunity considering the cash back match-up for the first year. As always, we do recommend responsible usage with all of your credit cards, that means paying off your balances in a timely-manner. See our complete list of Credit Card Promotions for all of your credit card necessities!
