Are you ready for an adventure but worried that your fair credit might hold you back from enjoying exclusive travel rewards? Fret not, because we've got your back! While travel rewards credit cards often cater to those with excellent credit, it doesn't mean that you can't take advantage of these perks despite your fair credit score. In this article, we'll explore various travel rewards credit cards that are within your reach, ensuring that you get the best bang for your buck while satisfying your wanderlust.
Travel Rewards Credit Cards For Fair Credit Table of Contents
Finding the Right Travel Rewards Credit Card for Fair Credit
First things first, let's understand what we mean by fair credit. Generally, a credit score between 580 and 669 is considered fair, and while it may not be pristine, it doesn't mean that you can't access some attractive rewards credit cards. Let's dive into some of the best options for you:
1. Capital One QuicksilverOne
With its features tailored toward individuals with fair credit, the QuicksilverOne card offers an unlimited 1.5% cash back on all purchases, including flights, hotels, restaurants, and more. Additionally, once you make the first five monthly payments on time, you may be eligible for a higher credit line. The downside is its $39 annual fee, but its accessible rewards and potential for credit line increases make it worth considering.
2. Bank of America Travel Rewards Credit Card for Students
Perfect for college students looking to explore the world during their best years, this enticing travel rewards card boasts no annual fee and a solid 1.5 points for every dollar spent on all purchases. Plus, enjoy a 25,000-point welcome bonus after spending $1,000 within the first 90 days of opening the account, which is worth $250 in statement credits for travel-related expenditures.
3. Discover it Miles
This flexible travel rewards card is a fantastic option for those with fair credit, offering users 1.5 miles for every dollar spent on all purchases. The best part? Discover will match all the miles you've earned at the end of your first year, essentially doubling your rewards. With no annual fee and the potential to redeem your miles for flights, hotels, car rentals, and more without blackout dates, the Discover it Miles card is an attractive option to consider.
Making the Most of Your Travel Rewards Card
Now that we've got you covered with a few excellent credit card options, let's focus on maximizing your travel rewards. Here are some tips to consider:
- Pay on Time: Making timely payments is crucial for improving your credit score and keeping your account in good standing for potential credit line increases.
- Track Your Spending: Be mindful of your spending and monitor your credit utilization ratio (the percentage of your available credit you're using). Keeping it below 30% is ideal.
- Be Strategic: If possible, use your travel rewards credit card for everyday expenses and pay it off each month to avoid interest charges while earning rewards.
- Evaluate Card Benefits: Familiarize yourself with the various perks and benefits that come with your credit card to ensure you're taking full advantage of them.
Travel Rewards Credit Cards For Fair Credit Example:
Imagine you're a college student gearing up for a semester abroad, and you sign up for the Bank of America Travel Rewards Credit Card for Students. After spending $1,000 on books, supplies, and other essentials within the first three months, you earn a 25,000-point welcome bonus.
As you go on your journey, you use the card for all your expenses, like transportation, meals, and souvenirs, earning 1.5 points per dollar spent. As long as you make timely payments and maintain good financial habits, your rewards can help cover a part of your travel costs, leaving more money in your pocket to experience the world.
Now you know that having fair credit doesn't have to hold you back from accessing some fantastic travel rewards credit cards. Whether you're a student, adventurer, or simply keen to explore the world, there's a credit card option waiting for you. So, get ready to pack your bags and take off on your next adventure, all while enjoying the perks of your travel rewards credit card.
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