Maybe you’ve hit a rough patch or maybe you’re just starting out, but you need more credit so you’ll look to offers for those with “fair credit”. Fair credit is a happy medium that says you don’t have the best credit, but certainly not the worst. Either way, it’s fine because there are plenty of offers for those with fair credit and depending on your needs, you might find several offers that are attractive. Always read the fine details before applying for a new line of credit to prevent unnecessary credit inquiries from going on your credit report.
Capital One Platinum Credit Card
You’ll need fair, or average, credit to apply for this platinum card and there are no annual fees with this card. When you make your first five monthly payments on time, you can earn the possibility to increase your credit line for additional credit. This is a solid opportunity to strengthen your credit score for even better lines of credit and more offers.
Capital One QuicksilverOne Cash Rewards Credit Card
The opportunities are great with this credit card because it offers 0% interest on purchases for the first 9 months AND 0% APR for balance transfers for the first 9 months. With this card, there is a $39 annual fee but you’ll have to decide if that fee’s worth saving interest for nine months, which may be dependent upon your current interest rate and the total balance that you owe. If you’d save well over $39 in interest, the offer is well worth it.
Chase has a credit card that offers 0% interest on purchases AND balance transfers for 15 months, but you’ll need fair to excellent credit for approval. There are no annual fees, but consumers who are on the lower end of the fair credit scoring system may not earn approval. If you’ve been working on building your way to an excellent credit rating, this is a great opportunity to see if you’ve achieved your goal and cash in on some major savings.
Discover it for Students
Students who are working hard to establish credit while keeping their grades up can take advantage of this Discover card that has special interest rates to help them save money. With 0% interest for 6 months on purchases and only 10.99% on balance transfers for six months, this card has no annual fees and offers a slightly lower interest rate than other cards geared toward consumers with fair credit.
There are some heavy decisions to be made when applying for a new line of credit, but the most important thing you can do is keep your current situation in mind. Ask yourself if you need to do a balance transfer to help save money on interest or if you’ll be able to get a better interest rate by applying for a new card. You may be able to negotiate with your current credit card companies if they know you’re willing to walk while others simply won’t care.