Are you among those who have a credit score of between 650 and 700, wondering which credit card is best for you? Relax, because you're about to enter the world of excellent credit cards designed for individuals like you. In this comprehensive guide, we will break down the benefits, features, and everything you need to know about the best credit cards for a 650 to 700 credit score.
Credit Cards For 650 Table of Contents
Why Credit Score Matters
A credit score is essential for various reasons, including determining your eligibility for loans, mortgages, and credit cards. Financial institutions use your credit score to assess your creditworthiness and the likelihood that you will repay your debts. Your credit score can impact the interest rates, fees, and terms offered to you. Generally, the higher your credit score, the better the terms and rates you can enjoy.
Credit Cards for 650-700 Credit Score: What to Expect
When you have a credit score in the range of 650-700, you are deemed to have fair or good credit. Although you may not qualify for top-tier credit cards with superior benefits and rewards, you still have access to quality credit cards that can help you improve your credit score and enjoy valuable benefits.
Key Features of Credit Cards in this Score Range
- Lower interest rates as compared to cards for poor credit
- Reasonable annual fees or no annual fees at all
- Access to perks like cashback rewards, travel rewards, or balance transfer offers
- Opportunities to improve your credit score further by demonstrating responsible use and making timely payments
Best Credit Cards for 650-700 Credit Score
We've researched and analyzed credit cards suited for individuals with a credit score of between 650 and 700, and here are our top recommendations:
1. Capital One QuicksilverOne Cash Rewards Credit Card
- 1.5% cashback rewards on every purchase, without any restrictions or categories to track
- Opportunity for a higher credit limit after demonstrating responsible use for the first five months
- Annual fee of $39
2. Discover it Secured Credit Card
- 2% cashback for every dollar spent at gas stations and restaurants, up to $1,000 quarterly
- 1% cashback on all other purchases
- No annual fee, paired with a chance to upgrade to an unsecured credit card after 8 months of responsible card use
3. Chase Freedom Flex Credit Card
- 5% cashback on rotating bonus categories, up to $1,500 in combined purchases per quarter
- 3% cashback on dining and drugstore purchases
- 1.5% cashback on all other purchases
- No annual fee
Imagine you recently got a job in a new city with a credit score of 680. You need a credit card for your daily expenses and occasional travel. Based on our recommendations, the Chase Freedom Flex Credit Card could be an excellent choice for you. With its rotating bonus categories, 3% cashback on dining, and no annual fee, you can save money on your everyday purchases and earn rewards while still having the opportunities to improve your credit score.
Now that you understand the best credit cards for those with a 650-700 credit score, you're ready to make an informed decision and choose a card that meets your financial goals. Remember, responsible use, such as making timely payments and keeping your credit utilization low, will further improve your credit score and open doors to more exceptional benefits and rewards.
If you found this guide helpful, be sure to share it with your friends and family members who also have similar credit scores. At Flik Eco, we are passionate about making personal finance easy and accessible, so don't forget to explore our other valuable guides for more practical tips and strategies.