Fair Credit Research Paper
Credit Cards for Fair Credit With No Annual Fee
Are There Credit Cards for Fair Credit With No Annual Fee?
With fair credit you sit right in the middle – best credit cards are still out of your reach but you already have a decent choice of available offers. Finding a right credit card with fair credit – with no annual fee and high credit limit is not easy. Card features such as interest rates and annual fees can be confusing. Understanding the role your own credit score plays in your credit-worthiness can make a big difference in your overall success.
What is Fair Credit?
What exactly is “fair credit?” From an industry perspective, most merchants and lenders consider someone whose credit falls between a FICO score of 600 and 720 to have “fair” or “average” credit. Any lower than this and you have an increased risk; any higher and you probably enjoy good credit offerings much of the time. …show more content…
While cards with higher initial limits do exist, they are more difficult to qualify for and you should expect a trade-off in the way of interest and fees. Your increased risk status will naturally result in a higher yearly fee and a greater interest rate in nearly all cases. Fortunately, even if you initially qualify for a low credit limit, you can usually build up to a higher limit over time.
Most banks offer a credit limit increase option after 6 months of responsible card use.
It’s important to not only build a relationship with the credit card issuer but also to manage your account responsibly. This means making your payment on time every month and following the credit card issuer’s guidelines.
One of the high limit options is the Emporium card – technically a store card with the credit limit up to $5,000 and instant credit approval.
[listing=nid=4767;bank;tag;link;end]
Cards for Poor to Fair
Are There Credit Cards for Fair Credit With No Annual Fee?
With fair credit you sit right in the middle – best credit cards are still out of your reach but you already have a decent choice of available offers. Finding a right credit card with fair credit – with no annual fee and high credit limit is not easy. Card features such as interest rates and annual fees can be confusing. Understanding the role your own credit score plays in your credit-worthiness can make a big difference in your overall success.
What is Fair Credit?
What exactly is “fair credit?” From an industry perspective, most merchants and lenders consider someone whose credit falls between a FICO score of 600 and 720 to have “fair” or “average” credit. Any lower than this and you have an increased risk; any higher and you probably enjoy good credit offerings much of the time. …show more content…
While cards with higher initial limits do exist, they are more difficult to qualify for and you should expect a trade-off in the way of interest and fees. Your increased risk status will naturally result in a higher yearly fee and a greater interest rate in nearly all cases. Fortunately, even if you initially qualify for a low credit limit, you can usually build up to a higher limit over time.
Most banks offer a credit limit increase option after 6 months of responsible card use.
It’s important to not only build a relationship with the credit card issuer but also to manage your account responsibly. This means making your payment on time every month and following the credit card issuer’s guidelines.
One of the high limit options is the Emporium card – technically a store card with the credit limit up to $5,000 and instant credit approval.
[listing=nid=4767;bank;tag;link;end]
Cards for Poor to Fair