Are you in the market for a new credit card but worried that your credit score might be holding you back? Look no further! We're here to bring you the top picks for credit cards in 2023, specifically tailored for those with a 650 credit score. Because, after all, we believe access to better financial options should be available to everyone, regardless of their current credit standing.
Best Credit Cards 2023 For 650 Credit Score Table of Contents
Understanding the 650 Credit Score
Your credit score plays a pivotal role in determining your eligibility for loans and credit cards. With a FICO score of 650, you fall just within the tail-end of the “fair” credit category, which means you may face some challenges in getting approved for top-tier credit offers. However, this doesn't mean you're out of options or that your financial journey is over! In fact, there are a variety of credit cards available for people with a 650 credit score.
Best Credit Cards for a 650 Credit Score in 2023
We've carefully researched and compiled a list of top-performing credit cards that cater to individuals with a 650 credit score. Each one offers unique benefits and is designed to help promote responsible credit usage, boosting your credit score in the long run.
1. Capital One QuicksilverOne Cash Rewards Credit Card
- 1.5% cashback on every purchase
- $39 annual fee
- Regular APR: 26.99%
- Access to a higher credit line after five on-time payments
- Tools to monitor your credit and boost your credit score
2. Discover it Secured Card
- 2% cashback at gas stations and restaurants (up to $1,000 in purchases each quarter)
- 1% cashback on all other purchases
- No annual fee
- Minimum deposit of $200 to open account
- Automatic account reviews for potential unsecured card upgrade
3. Credit One Bank Platinum Visa with Cash Back Rewards
- 1% cashback on eligible purchases
- $75 annual fee in the first year, $99 annually thereafter
- Regular APR: 25.49%
- Reports to all three credit bureaus
- Free monthly credit score tracking
4. Indigo Platinum Mastercard
- Designed for people with less than perfect credit
- Annual fee ranges from $0 to $99, depending on credit
- Regular APR: 24.9%
- Reports to all three credit bureaus
- No security deposit required
Best Credit Cards 2023 For 650 Credit Score Example:
John, a freelance graphic designer, has been working to improve his credit score of 650. He's been looking for a credit card that could help him achieve his financial goals while offering rewards for his daily spending. After reviewing the best credit card options for his credit score, John decided to apply for the Capital One QuicksilverOne Cash Rewards Credit Card.
Not only does the card offer unlimited 1.5% cashback on every purchase, but it also provides the tools John needs to monitor and improve his credit score. Plus, after making consistent, on-time payments for five months, he's granted access to a higher credit line – enabling him to continue improving his credit score while reaping the card's benefits.
Now that you've discovered some of the best credit card options for a 650 credit score in 2023, don't hesitate to explore these offers further and select the one that best fits your needs and financial goals. Always remember to use credit responsibly and work on improving your credit score; your financial future will thank you!
If you found this guide helpful, be sure to share it with others who may be in a similar situation. And don't forget to explore other Flik Eco articles to up your personal finance game even further!
