Credit cards for fair credit or average credit can help people to build their credit. These credit cards usually come with $0 annual fees. They report the monthly payment fees to three credit bureaus and help build the credit score. Further, these credit cards also have credit-building features such as providing access to free credit scores. Finally, these credit cards also offer education on building good credit scores.

With an improved credit score members can have better rates on loans and mortgages. Credit cards on offer for Fair credit offer better features than secured credit cards.

How to monitor your credit score to help improve it from Fair to Good?

Cardmembers can opt for a service like CreditWise from Capital One. This service provides the credit score of a user from the TransUnion Credit bureau. It is available for any adult with a valid social security number. There should be an available file with the user with TransUnion for this service to work. There is no requirement to be a Capital One customer to use this service.  

Credit cards for people with Fair Credit Scores

#1 CapitalOne Platinum Mastercard

Fees: This credit card is available with $0 in annual fees. It also offers $0 foreign transaction fees. 

Joining Rewards: This credit card doesn’t offer any joining rewards.

Rewards: Mastercard offers $0 Fraud Liability if the card is ever lost or stolen. Capital One has a tool to monitor the credit profile of a user. Card members get unlimited access to their credit score CreditWise from Capital One. 

In a Nutshell: This is one of the best credit cards for members with Fair credit. This card automatically increases the credit limit of the user over time. They consider increasing the credit limit starting in 6 months. They take into account payment history patterns to raise the limit. This is a great credit card for a starter person looking to build credit.

#2 Milestone Gold Mastercard

Fees: Milestone offers multiple gold cards. The annual fee of the credit card varies from $35-$75 and it depends on the pre-qualification and approval of the card. Members can pre-qualify for a Milestone credit card to check for eligible fees and APR.

Rewards: The Milestone credit card is a special financial product for rebuilding or building credit. It can be used as a credit card wherever Mastercard is accepted. Unlike a secured credit card which may require a security deposit. Milestone credit card is a good option in place of a traditional secured credit card. 

In a Nutshell: Milestone Gold Mastercard is a good starting product for anyone who is interested in establishing or rebuilding their credit. They report the account history to all three major credit bureaus. They give cardholders a chance to establish a consistent payment record. This helps in building credit scores over time. 

Milestone is a limiting credit card as it doesn’t offer too many rewards or facilities. But its sole purpose is to build a credit score. It does not offer a facility for a balance transfer on their credit card. International transactions on the Milestone Gold Mastercard are disabled by default. 

#3 Mission Lane Visa Credit Card

Fees: Mission Lane Visa credit card has an annual fee of $59.

Rewards: This credit card doesn’t offer rewards as the intent of this credit card is to rebuild credit.

In a Nutshell: Mission Lane Visa Credit Card is a credit rebuilding card. It doesn’t require a security deposit to offer a credit card. Once the credit card is approved by Mission Lane, they offer a very high APR loan. Mission Lane credit card offers a limited credit limit for the card members to start with. This credit limit may be $500 or $800 for a card member. Once a member makes their payments on time for a few months, Mission Lane increases the limit on the credit card.

Mission Lane reports the payment history to all three credit bureaus. It also provides free anytime access to the credit score of the card member. Access to this credit score helps the cardmember take control of their finances. This credit card doesn’t offer any balance transfer facility. The credit card comes with an app to monitor the financial progress.

#4 Petal 1 Credit Card

Fees: Petal 1 credit card is a no-fee credit card. It charges no annual fees and no foreign fees.

Rewards: Cardmembers can earn 1.5% cash back on all purchases. It also offers a high cashback of upto 10% on selected merchants. 

In a Nutshell: Petal 1 credit card is a great card to build credit as well as earn rewards. Members start with a starting credit limit. They can increase the credit limit with monthly payments on time. Petal 1 credit card reports to all three credit bureaus.