If your credit score is at 630, it's just average, but that doesn't mean you have to say goodbye to exciting rewards on credit cards! In this Flik Eco blog post, we dissect the best credit card options for a credit score of 630, so you can start maximizing your benefits while improving your credit.
Credit Cards For Credit Score Of 630 Table of Contents
Why a 630 Credit Score Matters
Having a credit score around 630 might not seem like a big deal, but it has implications when applying for loans, mortgages, or even credit cards. A credit score of 630 is considered "Fair" by credit bureaus, meaning you fall in the middle range of creditworthiness. With this score, you still have credit card options, but they may not be as rewarding or have as low-interest rates as those offered to people with excellent credit scores.
But, there's good news; obtaining a credit card with a 630 credit score can actually help you boost your score further, provided you use it responsibly. In this guide, we've focused on some credit card options that offer rewards, cashback, and valuable perks for people with a 630 credit score.
Secured Credit Cards
- Discover it® Secured: A secured credit card that offers cashback rewards. You can earn 2% cashback on gas and dining up to $1,000 per quarter and 1% on all other purchases. Plus, Discover will match all the cashback you earn in your first year automatically.
- Capital One Platinum Secured: Another secure credit card that has no annual fee and a low security deposit requirement. It also offers automatic credit limit increases after making your first 6 monthly payments on time and provides access to the TransUnion VantageScore tracker.
Unsecured Credit Cards
- Credit One Bank® Platinum Visa®: This card offers 1% cashback rewards on eligible purchases, such as gas, groceries, and services. It has an annual fee, but generally approves applicants with Fair to Good credit scores.
- Indigo® Platinum Mastercard®: Designed for people with less-than-perfect credit, this unsecured card has no security deposit required and comes with a customizable design. Be mindful of the annual fee and potential one-time fees though.
Store Credit Cards
- Amazon Prime Store Card: If you're a frequent Amazon shopper, this store credit card rewards you with 5% cashback on purchases at Amazon.com. The promotional financing options may also benefit you when financing larger purchases. Keep in mind, this card will require a Prime membership.
- Walmart Credit Card: Another option for those who frequently shop at Walmart, this card offers 5% cashback on Walmart.com and grocery pick-up or delivery, and 2% back on in-store purchases and fuel stations. The card has no annual fee but a higher interest rate than other options.
Credit Cards For Credit Score Of 630 Example:
Jane has a credit score of 630 and wanted to apply for a credit card mainly to improve her credit rating, but also to receive rewards on her spending. She opted for the Discover it® Secured card, due to its cashback rewards and potential credit line increase after 8 months of responsible usage.
Jane used her card responsibly for 12 months, paying her bills in full each month, and enjoyed the cashback rewards on her monthly gas and dining expenses. At the end of her first year, Discover matched her cashback, effectively doubling her rewards. Not only did this card offer valuable perks, but it also helped her increase her credit score from 630 to 700!
There you have it! With a credit score of 630, you still have plenty of credit card options with rewards and perks to make your everyday spending worthwhile. Remember, using a credit card responsibly can result in a better credit score, opening up even more opportunities for financial success.
At Flik Eco, we have your back when it comes to personal finance. If you found this guide helpful, don't forget to share it with friends and explore our other posts to further bolster your financial know-how. Stay tuned for more valuable advice from Flik Eco!
