Best Travel Rewards Credit Card For Fair Credit
Are you looking for a credit card that will reward you for your travel expenses, but have fair credit? If so, you may have thought your options were limited. Fortunately, there are several credit cards that offer travel rewards for those with fair credit. This article will review some of the best travel rewards credit cards for fair credit, including their benefits, drawbacks, and how to qualify for them.
What is a Fair Credit Score?
Before diving into the best travel rewards credit cards for fair credit, let's first define what a fair credit score is. A fair credit score generally falls within the range of 580-669, according to FICO credit score ranges. While this range isn't considered "bad" credit, it is still not considered good credit either. When it comes to credit card applications, those with fair credit may not qualify for the top rewards credit cards, but there are still options available.
Best Travel Rewards Credit Cards For Fair Credit
Credit One Bank Platinum Rewards Visa
The Credit One Bank Platinum Rewards Visa is an ideal travel rewards credit card for those with fair credit. With this card, cardholders earn 5% cashback on eligible gas, grocery, mobile phone service, Internet, and cable and satellite TV services. Additionally, cardholders will earn 1% cashback on all other purchases. This card also offers travel accident insurance and extended warranty coverage. The main drawback of this card is that it has an annual fee, which varies depending on creditworthiness.
Capital One QuicksilverOne Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card is another top choice for those with fair credit looking for travel rewards. Cardholders earn unlimited 1.5% cashback on all purchases, including travel expenses. This card also offers travel accident insurance and 24-hour travel assistance services. The main drawbacks of this card is that it has an annual fee and no introductory APR offer.
Discover it Secured Credit Card
If you are looking to improve your credit while earning travel rewards, the Discover it Secured Credit Card is a great choice. This card requires a security deposit, which will be your credit limit, typically starting at $200. Cardholders earn 2% cashback at gas stations and restaurants, up to $1,000 in combined purchases each quarter. Additionally, cardholders earn 1% cashback on all other purchases. After eight months, Discover will review your account and may offer to upgrade you to an unsecured card. The main drawback of this card is that it requires a security deposit.
Petal 2 Visa Credit Card
The Petal 2 Visa Credit Card is a great travel rewards credit card for those with fair credit who want to avoid fees. This card offers up to 1.5% cashback on all purchases, including travel expenses. Additionally, this card has no annual fee, no foreign transaction fee, no late fee, and no penalty APR. The main drawback of this card is that the cashback rewards system may not be as straightforward as other credit cards.
How to Qualify for a Travel Rewards Credit Card with Fair Credit
If you have fair credit and want to qualify for a travel rewards credit card, there are a few things you can do.
Check Your Credit Score
The first thing you should do is check your credit score. Knowing your credit score will give you an idea of which credit cards you may be approved for. You can check your credit score for free through websites like Credit Karma or by contacting the three major credit bureaus.
Apply for Pre-Qualified Credit Cards
Another option is to apply for pre-qualified credit cards. Many credit card companies offer pre-qualification checks that allow you to see if you are likely to be approved for a card. These checks do not harm your credit score and can give you an idea of which credit cards you may be approved for.
Improve Your Credit Score
If you are not approved for a travel rewards credit card with fair credit, you may need to improve your credit score. Some ways to improve your credit score include paying your bills on time, keeping your credit utilization low, and disputing any errors on your credit report.
Conclusion
Just because you have fair credit does not mean you have to miss out on earning travel rewards. There are several credit cards that offer travel rewards for those with fair credit, including the Credit One Bank Platinum Rewards Visa, Capital One QuicksilverOne Cash Rewards Credit Card, Discover it Secured Credit Card, and Petal 2 Visa Credit Card. By checking your credit score, applying for pre-qualified credit cards, and improving your credit score, you can increase your chances of being approved for a travel rewards credit card with fair credit.
