Which credit card is best for fair credit?

Updated on Apr 01, 2016

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Top Answer: Submitted by Robyn Cooper

It's no wonder you may not have a high credit score. Many people have seen their credit scores drop within the last few years due to the economic conditions. According to USAToday.com, credit scores have fallen, on average, six points from third quarter of 2008 through the second quarter of 2009. That's only a few months and a significant drop. With the loss of jobs, harder to obtain credit and limited resources, many Americans are seeing their "good" credit scores become "fair." When that's the case, it can feel frustrating to find a credit card that's right for you.

Do You Have Fair Credit?

Fair credit is a loose term. The VantageScore credit rating system rates people fair if their score falls between 601 and 701. Anything below this is considered high risk. For those with fair credit, credit card offers are still available. There are some lenders willing to work with you. Here are a few we found.

What to Look for in a Fair Credit Credit Card

If you have fair credit, credit card options may not be as numerous, but that doesn't mean you should choose just any. The following tips can help you to ensure you get the best offers possible.

* Always compare APRs from one lender to the next. With fair credit, you should qualify for an average APR rate.

* You most likely will find a variety of credit card offers with rewards programs. The only catch is to make sure lenders are not charging super high fees for establishing the line of credit.

* Look for a credit card that serves your needs. You'll benefit most from one with a lower balance and APR. That way, you can use it minimally and build credit from the ground up.

Be sure to safeguard your credit, too. It is always a good idea to make decisions that have a positive long term implication rather than something that's going to lead to costly fees. Invest the time in learning how to build credit.

*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.

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