If your credit score is between 650 and 700, you might think you don't have many options when it comes to credit cards. However, that's far from the truth! Creditors and banks know there's a large market in this credit score range, and they're eager to help you find the right card to boost your financial well-being. In this Flik Eco guide, we'll explore the best credit cards for people with credit scores between 650 and 700. Get ready to dive deep into the world of rewards, cashback, balance transfers, and annual fees, and find the perfect card for your financial journey.
Best Credit Cards For 650 700 Credit Score Table of Contents
Credit Score Basics
What is a credit score?
A credit score is a numerical representation of your creditworthiness, which can range from 300 to 850. The higher the score, the better your credit health and lower your risk in the eyes of lenders.
Why does a credit score matter?
Your credit score directly impacts your ability to borrow money, obtain loans, and secure favorable interest rates. It's important to have a good credit score to minimize borrowing costs and maximize financial opportunities.
Best Credit Cards for 650-700 Credit Score
Cashback and Rewards Cards
For those with a 650-700 credit score, the Capital One QuicksilverOne Cash Rewards Credit Card and the Discover it Secured Card can be great choices. Both offer cashback rewards, and the latter is specifically designed for people looking to build or rebuild their credit.
- Capital One QuicksilverOne Cash Rewards Credit Card: Earn 1.5% cashback on all purchases, with a $39 annual fee.
- Discover it Secured Card: Earn 2% cashback at gas stations and restaurants (up to $1,000 in spending per quarter) and 1% cashback on all other purchases. It has no annual fee.
Balance Transfer Cards
If you're looking to consolidate your debt and save on interest payments, the Amex EveryDay Credit Card from American Express and the Citi Diamond Preferred Card can come in handy. These cards offer low introductory rates on balance transfers, helping you pay down your debt faster without the added interest burden.
- Amex EveryDay Credit Card: 0% introductory APR on balance transfers and purchases for 15 months, with no annual fee.
- Citi Diamond Preferred Card: 0% introductory APR on balance transfers for 21 months and on purchases for 12 months, with no annual fee.
Low Annual Fee Cards
If you're looking for a card with a low annual fee, the Capital One Platinum Credit Card and the Petal 2 Visa Credit Card can be solid options.
- Capital One Platinum Credit Card: This card comes with no annual fee, making it a great option for those with limited credit histories or rebuilding credit.
- Petal 2 Visa Credit Card: This card offers 1% - 1.5% cashback on eligible purchases and has no annual fee. It also doesn't require a credit history to apply.
Best Credit Cards For 650 700 Credit Score Example:
Tim has a credit score of 675 and is looking for a credit card to help him earn rewards while also building his credit. After comparing the options presented in this article, he decides to apply for the Capital One QuicksilverOne Cash Rewards Credit Card because of its 1.5% cashback on all purchases and relatively low annual fee. In just a few months, Tim starts to see an improvement in his credit score, and he enjoys the cashback he is earning on his everyday purchases.
Now that you know all about the best credit cards for 650-700 credit scores, you're ready to take control of your finances and pick the card that best suits your needs. Flik Eco is here to help you every step of the way, so be sure to explore our other guides and blog posts to continue your financial journey. Don't forget to share this article with your friends and family so they can benefit from this valuable information too. Together, we can help each other achieve our financial goals!
