Do you ever wish you could access the wide range of rewards, benefits, and convenience offered by Chase credit cards but get shut down because of your not-so-perfect credit score? We feel your pain – and are here to tell you: there's hope! In this Flik Eco guide, we'll break down your Chase card options for those with fair credit, help you make an informed decision, and even give you some handy tips to improve your credit score.
Chase Cards For Fair Credit Table of Contents
What Does Fair Credit Mean?
Before we dive into the world of Chase cards for fair credit, it's essential to understand what having a fair credit score actually means. Credit scores typically range from 300 to 850 and are classified into five categories:
- Excellent (750 and above)
- Good (670-739)
- Fair (580-669)
- Poor (300-579)
- No Credit (No credit history)
A fair credit score means you fall between 580 and 669, which, although it might not be the best, is definitely not the end of the world! Now let's look at some Chase cards designed for individuals with fair credit.
Chase Freedom Flex℠ Card
As a relatively new addition to the Chase lineup, the Chase Freedom Flex℠ Card may be a good fit for people with fair credit. With this card, you will have access to:
- No Annual Fee
- Cash Back on Purchases
- Earn Points on Travel
- Cell Phone Protection
- 0% Intro APR on Purchases for 15 months
Although this card is marketed towards individuals with good credit, it doesn't hurt to apply if you're on the higher end of the fair credit range. With responsible card usage and timely payments, it could be an excellent opportunity for you to improve your credit score.
Secured and Other Card Options
With fair credit, you might find it challenging to get approved for traditional, unsecured credit cards like the Chase Freedom Flex℠ Card. But don't worry—there are other card options that could be a better fit for you:
- Secured Credit Cards: These cards require a deposit (usually equal to your credit line) and are more accessible for people with fair credit. Although Chase does not offer secured cards, some other reputable banks, such as Discover and Capital One, do.
- Store Credit Cards: These cards cater to specific retailers and may be easier for those with fair credit to obtain. Be cautious about high-interest rates, though, and make it a priority to pay off your balance in full each month.
- Credit Builder Loans: Although not a credit card, these loans can help improve your credit score by giving you a chance to demonstrate responsible payment behavior.
Chase Cards For Fair Credit Example:
Let's say you have a fair credit score of 635 and are looking for a Chase card. After reading this guide, you decide to apply for the Chase Freedom Flex℠ Card. Even if you're not instantly approved, you still have other secured card options and store credit cards to consider. After six months of responsible use and timely payments, you may see your credit score rise, making it easier to qualify for more traditional, unsecured Chase cards in the future.
Fair credit no longer has to stop you from enjoying the perks that come with owning Chase cards. Now armed with the knowledge about available card options, you're well on your way to building your credit journey and giving yourself a fair shot at financial success. Don't forget to share this guide with friends and family members who might also benefit from this valuable intel, and be sure to explore other Flik Eco content for more tips and tricks to master the personal finance game.
