While a fair credit score may bar you from the elite rewards credit cards, it doesn’t mean settling for a sub-par card with an annual fee, either. There are plenty of no annual fee credit cards available if you have average credit, including some cards that offer impressive rewards. Here are a handful of the best credit cards for fair credit with no annual fee.
Capital One Platinum Card
If you are looking for a basic credit card that will help you build credit, the Capital One Platinum card is a good choice. This card has no annual fee and no rewards program, but you will get an automatic credit limit increase after your first 5 on-time monthly payments and periodic limit increases for responsible credit use. You also get unlimited access to CreditWise to monitor your credit score.
Barclaycard Rewards Mastercard
The Barclaycard Rewards Mastercard is perhaps the best rewards card for people with average credit. This card has no annual fee and earns an impressive 2x points on grocery store, utility, and gas purchases and 1x points on all other spending. Your points can be redeemed for statement credits, gift cards, or deposits into a checking or savings account. You also get free access to your FICO score to help you improve your credit over time.
Journey Student Rewards from Capital One
The Journey Student Rewards card is designed for college students who are still building credit. You can qualify with average or fair credit or even no credit history and earn an unlimited 1% cash back on all purchases. When you pay your bill on time, you earn bonus cash back for a total of 1.25% back. Your credit limit will automatically be increased after 5 on-time monthly payments with this no annual fee credit card.
Capital One Quicksilver
If you have very good credit, you can qualify for the Capital One Quicksilver, the no annual fee version of the QuicksilverOne. This card earns an unlimited 1.5% cash back on all spending with a sign-up bonus of $100 once you spend at least $500 during the first 3 months. You can redeem your rewards for cash back statement credits at any time. The Quicksilver also has a 0% introductory APR on purchases and balance transfers for 9 months to help you save on interest charges. Note that there is a 3% balance transfer fee.
Discover it Card
The Discover it card is an excellent choice once your credit improves to very good to excellent. The Discover it earns 5% cash back on rotating bonus categories on up to $1,500 in spending each quarter while other spending earns 1% cash back. Bonus categories always include popular categories like Amazon.com, warehouse club spending, gasoline, and entertainment. The card has no annual fee and there are now several versions of the card, including a student version and a secured version if you have bad to fair credit.
Want a solid credit card with low fees to help you save money and use credit responsibly? The Chase Slate card is one of the best balance transfer cards and you can qualify with average to excellent credit. This card has a 0% introductory balance transfer fee for the first 60 days and a 0% intro APR on purchases and balance transfers for a full 15 months. If you transfer high-interest credit card debt to the Slate card, you can save hundreds or even thousands over 15 months! This card has no annual fee and no penalty APR, which means your interest rate won’t go up due to a late payment.