Do you have a mid-600 credit score and feel like you're stuck in no man's land when it comes to finding the perfect credit card? Well, worry no more! In this article, we'll guide you through the top credit card choices tailored specifically for individuals with a credit score in the mid-600s.
Best Credit Cards For Mid 600 Score Table of Contents
Understanding Your Credit Score
Before we dive into the best credit cards, it's essential to understand what a mid-600 credit score means. Credit scores range from 300 to 850, and a mid-600 score falls in the "fair" or "average" category.
What impacts your credit score?
- Payment history – Your history of on-time payments is essential to maintaining and improving your credit score.
- Debt-to-credit ratio – Also known as credit utilization, this is the amount of debt you have compared to your available credit limits. Experts recommend keeping this ratio below 30% to improve your credit score.
- Length of credit history – The longer your credit history, the better, as it shows you're a responsible borrower.
- Types of credit – Having a mix of different types of credit (credit cards, mortgage, loans) can positively impact your score.
- Credit inquiries – Applying for multiple credit cards or loans within a short period can negatively impact your credit score.
Best Credit Cards for Mid-600 Credit Score
Now that you have a better understanding of your credit score, let's dive into the top credit card options for those with a mid-600 score:
1. Capital One QuicksilverOne Cash Rewards Credit Card
With a flat cashback rate of 1.5% on all purchases and no rotating categories, the QuicksilverOne card is a solid option for people in the mid-600 credit score range. The card comes with an annual fee of $39, but it can be easily offset if you use it frequently.
2. Credit One Bank Platinum Visa
The Credit One Bank Platinum Visa offers 1% cashback on eligible purchases, including gas, groceries, and monthly services like mobile phone and internet bills. The card comes with an annual fee, but offers free access to your Experian credit score and other credit-building tools.
3. Discover it Secured
Discover it Secured is a fantastic option for credit score rebuilding, as it requires a refundable deposit to secure your line of credit. It offers 2% cashback at gas stations and restaurants for up to $1,000 in spend per quarter, and 1% cashback on all other purchases. Additionally, Discover will match your total cashback earned at the end of your first year.
4. Milestone Gold Mastercard
A no-frills option, the Milestone Gold Mastercard offers an unsecured credit line without the need for a deposit. It comes with an annual fee and higher interest rate but offers competitive credit limits, making it a suitable choice for those looking to build credit.
Best Credit Cards For Mid 600 Score Example:
Imagine a young professional with a credit score of 650, who is looking to build their credit and loves to travel. The Capital One QuicksilverOne Cash Rewards Credit Card would be a great choice, as they can earn 1.5% cashback on all purchases, such as flights and hotel bookings. They would have to pay a $39 annual fee, but if they spend at least $2,600 per year on the card, the cashback rewards would offset the annual fee.
There you have it – our top picks for credit cards suited for individuals with a mid-600 credit score. Remember, each credit card has its own set of unique features and benefits, so choose the one that best aligns with your financial habits, goals, and needs. If you found this article helpful, feel free to share it with friends, family, and on social media. Don't forget to explore other helpful resources and guides on Flik Eco for all your personal finance needs!
