Writer: Zina Kumok
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
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About 18% of Americans have fair credit, which can make qualifying for a credit card tricky. It’s a Catch-22: If you apply for a credit card and are denied, your credit score will take a hit, making it harder to be approved. But if you don’t apply for a card, then you won’t have a chance to build credit and improve your credit score over time.
That’s why, if you have a fair credit score, it’s wise to get pre-approved before you apply for a credit card. Check out the details below to find the best credit cards for fair credit and learn how you can get preapproved for them.
Cards For Fair Credit You Can Prequalify For
The cards listed below approve applicants with fair credit and offer prequalification before you apply. This helps you assess your approval chances before actually submitting an application and facing a hard credit inquiry.
- No annual or hidden fees. See if you’re approved in seconds
- Be automatically considered for a higher credit line in as little as 6 months
- Help build your credit through responsible use of a card like this
- Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It’s free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One’s mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
- Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
- Top rated mobile app
The Capital One Platinum Credit Card is our top pick for consumers with fair credit. You can be eligible for the Capital One Platinum Credit Card even if you have average, fair, or limited credit history. This includes consumers who have defaulted on a loan within the past five years or those who have a credit history less than three years old. This card has no annual fee.
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or limits to how much you can earn, and cash back doesn’t expire for the life of the account. It’s that simple
- Be automatically considered for a higher credit line in as little as 6 months
- Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
- Help strengthen your credit for the future with responsible card use
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- Monitor your credit score with CreditWise from Capital One. It’s free for everyone
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
- Top rated mobile app
The Capital One QuicksilverOne Cash Rewards Credit Card is one of the best options on this list for consumers with fair credit. It offers generous cash back on all purchases, and rewards can be redeemed for a statement credit or check. Make sure you will earn enough in rewards to exceed the $39 annual fee; otherwise, it’s not worth opening the card, and the Platinum card above may be the better choice.
- Earn Cash Back Rewards* – 3% on Eligible Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
- Use Anywhere Mastercard is Accepted
- No Security Deposit
- $0 fraud liability**
- Free access to your Credit Score†
*See Program Terms for important information about the cash back rewards program.
**Fraud liability subject to Mastercard rules.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
The Fortiva® Cash Back Rewards Mastercard only requires a fair credit score for approval. It offers cash back rewards and free access to your VantageScore 4.0 credit score. Fortiva will also review your account regularly to determine your eligibility for a higher credit line.
- Earn Cash Back Rewards* – 3% on Eligible Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
- Up to $1,000 credit limit subject to credit approval
- Prequalify** without affecting your credit score
- No security deposit
- Free Access to your Credit Score†
*See Program Terms for important information about the cash back rewards program.
** Prequalify means that you authorize us to make a soft inquiry into your credit history (that will not affect your credit) to create an offer. If you accept an offer a hard inquiry will be made. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
The Aspire® Cash Back Rewards Mastercard offers some of the best cash back rewards among cards that accept fair credit applicants. You can earn extra cash back on gas, groceries, and utility bills, and 1% cash back on all other purchases. Aspire will preapprove you beforehand so you don’t have to potentially hurt your credit score by applying and being denied.
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Less than perfect credit? We understand. The Reflex Mastercard is ideal for people looking to rebuild their credit.
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
The Reflex® Platinum Mastercard® has some of the lowest credit requirements on this list. You can have fair, bad, or no credit and still qualify for this card. Plus, you’ll be able to monitor your credit score progress for free in the app. The initial credit limit may be as high as $1,000.
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Less than perfect credit? We understand. The Surge Mastercard is ideal for people looking to rebuild their credit.
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
Customers interested in the Surge® Platinum Mastercard® can get pre-qualified without hurting their credit score. Continental Finance, which services the Surge® Platinum Mastercard®, says it welcomes consumers with all types of credit, including fair credit scores.
What is Fair Credit?
Fair credit refers to consumers with FICO credit scores between 580 and 669. While you are likely to be approved for a credit card with a fair credit score, you may receive a low credit limit, high interest rate, or both. Though many cards for fair credit offer basic rewards, you’ll have to earn more rewards than the cost of the annual fee to make it worth it.
Cards with $0 annual fees, travel rewards, and the highest cash back rewards are generally only available for people with good or excellent credit.
Fair credit is the result of previous credit mismanagement such as a late payment or a years-old bankruptcy on your credit reports (a recent bankruptcy would mean bad credit). Also, those with a relatively new credit history may have fair credit, even if there is no negative event on their credit report.
How Do I Prequalify For a Credit Card?
Sometimes, credit card issuers send preapproval offers right to your doorstep. If you get one of these, you can hop onto their website and enter your special code to officially apply. But the simplest way to get preapproved is by completing the credit card issuer’s online prequalification form.
Credit card issuers may refer to preapproval or prequalification interchangeably. The most important thing to consider is whether the issuer will perform a soft or a hard credit check.
A soft credit check will not impact your credit score, while a hard credit check will affect your credit score for one year. It will also appear on your credit report and stay there for two years.
A soft credit check is done for preapproval purposes, whereas a hard credit check is done after you officially apply. Make sure you understand whether the issuer is going to do a soft or hard credit inquiry because it’s not always clear.
What Is a Good Credit Score For Preapproval?
Every card has its own eligibility criteria. While there is no hard-and-fast rule about the credit score needed for preapproval, you usually need a credit score of 580 or higher to be approved for an unsecured card.
If you have a credit score of 700 or higher, you will find it easier to be preapproved for a travel or rewards card with no annual fee.
You can check your credit score for free at sites like Credit Karma. Be aware that the credit score you see may be slightly different from the one created by the credit bureau. However, it should be within the same general credit score range.
Can I Still Be Denied a Credit Card If I’m Preapproved?
Preapproval does not mean you are guaranteed to be approved after submitting a full application. This is because a credit card issuer cannot see your full credit history when it preapproves you. After you apply, the card issuer will be able to run a full credit check and may discover that you do not meet the eligibility criteria.
Sometimes you may not receive a clear answer when you apply. The bank may ask for additional information to determine your eligibility.
If you are denied, you will usually receive a response within 60 days providing a brief explanation of why you were denied. The letter will also show the credit score that the credit card company saw when it pulled your file.
What Jeopardizes Preapproval?
Many events can cause you to be denied a credit card even if you’ve already been preapproved. Doing something that hurts your credit can negate preapproval.
For example, your credit score may take a hit if you are more than 30 days late on a payment. This can cause the credit card provider to reject your application, even if it has already preapproved you.
Running up a huge credit card balance and increasing your credit utilization percentage — the amount of credit you are using as compared with the total amount of revolving credit you have available — can also cause you to be denied. A high credit utilization percentage is one of the most influential factors used to determine your credit score.
To figure out your credit utilization percentage, simply divide your current balance by your total credit limit. For instance, if your current balance is $5,000 and your limit is $12,000, you’ll have your answer.
In this case, your credit utilization percentage is 41.67%. An ideal credit utilization percentage should be 10% or less.
All issuers require you to have a source of income to receive a credit card. You may not qualify for a credit card if you lose your job after preapproval.
You generally need to appear as a stable consumer to be approved for a credit card — especially if you have fair credit. Doing anything that makes you look less reliable could cause problems when it comes to approval.
If you were preapproved and still denied, consider applying for a secured credit card. These usually have lower credit score requirements and are easier to get, especially if you have bad credit. They also cost less than cards for bad credit, and your security deposit is fully refundable with responsible card use.
Preapproval Indicates Your Odds of Approval
Every day, countless consumers roll the dice hoping they’ll be approved for a credit card. If it works out, good for them. But if it doesn’t, they’ve just dinged their credit score with nothing to show for it.
Getting preapproved greatly boosts your chances of snagging the credit card you desire. Without preapproval, you’re left guessing about the issuer’s decision. Unless your credit score is top-notch, applying for a card can feel like a roll of the dice. The good news is that preapproval tips the scales in your favor.
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Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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