Are you stuck with a credit score of 650 and unsure about the best credit card options for your needs? Well, you're in luck! Today, we're breaking down the top credit cards for a 650 credit score. Forget stressing over complex details; we've got you covered with a simple, engaging, and informative guide tailored just for you. Buckle up as we dive deep into the world of credit cards and find the perfect match for your financial goals.
Best Credit Cards For Credit Score Of 650 Table of Contents
What Does a 650 Credit Score Mean?
A credit score of 650 is considered "fair" by most credit agencies. While not terrible, it is not the best score either. This means that you may have a harder time securing loans and credit cards with attractive rewards or low interest rates. However, there are still options available for building and improving your credit.
Top Credit Cards for a 650 Credit Score
Here, we've picked the best credit cards that'll cater to your 650 credit score. Let's explore each card and their benefits.
1. Capital One Platinum Credit Card
- Offers a $0 annual fee
- Access to a higher credit limit after making 5 on-time monthly payments
- Free access to credit monitoring and financial tools
- Fraud protection and security features
This card is perfect for those looking to build credit without having to worry about an annual fee.
2. Discover it Secured Credit Card
- 2% cashback on gas stations and restaurants up to $1,000 each quarter
- 1% cashback on all other purchases
- No annual fee and no foreign transaction fees
- Automatic consideration for a higher credit limit after 8 on-time monthly payments
The Discover it Secured Card not only helps you build credit, but it also rewards you with cashback on everyday purchases. A win-win!
3. OpenSky Secured Visa Credit Card
- No credit check required
- Flexible security deposit ranging from $200 to $3,000
- $35 annual fee
- Helps you build credit by reporting to all three major credit bureaus
The OpenSky Secured Visa can be an excellent choice for those who have no credit history or struggle with approval for other cards.
Best Credit Cards For Credit Score Of 650 Example:
Meet Jane! Jane has a credit score of 650, and she's searching for the best credit card to fit her needs. By analyzing her spending habits, she realizes that she spends a lot on gas and dining out. She decides to apply for the Discover it Secured Credit Card because of its cashback rewards, no annual fee, and credit-building potential. Jane carefully monitors her spending and consistently pays her balance in full each month. Over time, her credit score begins to improve, and she eventually upgrades to a card with even better rewards and benefits.
So, there you have it - the best credit cards for those with a credit score of 650. We hope this guide has shed some light on the options available and helped you gain confidence in your journey towards financial freedom. Don't forget to share this article with friends and family who could benefit from this information. And if you enjoyed this guide, be sure to explore more amazing content on Flik Eco for personal finance and investing insights tailored just for you!
