Posts Tagged average credit ratings

Credit Cards For Average Credit Ratings

May 19th, 2009

creditscoreIf you don’t have especially good credit rating and are around the average level, there are plenty of credit card options for you.  While you may be declined on your application to most of the best credit card offerings (e.g. Plum Card, Discover More), you should be able to qualify for a decent unsecured card.

An unsecured credit card with no annual fee but little else in terms of perks is easily available to people with average credit scores.  It’s just likely that all your attention is fixed on the high-end cards that you don’t notice the plethora of offerings available to those with credit ratings just like yours.

Try one of these cards on for size:

1. Citi Platinum Select Mastercard

With no annual fees and pretty decent APR, the Citi Platinum Select is a credit card that’s absolutely within your means to get.  What I particularly like about is the extra layer of security it provides for online shoppers, via a separate secure number (that’s different from your actual credit card number) for use when you buy items over the web.

2. HSBC American DreamCard Mastercard

While not necessarily a sub-prime credit card, the American DreamCard Mastercard is specifically intended for those with decent but relatively low credit scores.  It used to be bundled with HSBC’s sub-prime card offerings but is actually better than the lot of credit cards usually available to those with bad credit.  It has no annual fee and usually approves anyone with a credit rating above 600.

3. Amex Rewards Gold Card

You’ll need to be employed with a decent income to qualify for this rewards card, but it’s worth applying for anyway.  It comes with a steep annual fee but if you intend to use the card frequently, their rewards program is one of the most attractive you can find.

Credit Cards For People With (Not So) Bad Credit

January 25th, 2009

Prime credit cards – the ones with all the great perks everyone’s raving about – are usually geared towards those consumers with near-pristine credit ratings. If you’re the owner of a somewhat average, slightly unattractive credit score, you’ll probably need to build up a better credit history in order to qualify for most of them.

That doesn’t mean you’ll have to settle for some bad credit cards though. These three credit cards from Capital One feature decent annual fees and charges comparable to many prime credit card offers, with the only caveat being the lower credit limit you will likely get.

Capital One Classic Platinum

There is a promotional 0% interest rate although the range varies depending on the current offer. You might want to check out Capital One’s website for more details. The APR post-promo is still pretty low (will depend on your score and record of use) and annual fee is a pretty low $19 for both the Visa and Mastercard versions.

Capital One Platinum Max

This is an easy approval credit card for people with slight bad credit ratings. Annual fee is a decent $19 with the APR usually being a competitive rate as well. The interest rate, whatever is determined during your approval, will be fixed for the first three years.

Capital One No Hassle Point Rewards

Most reward credit cards require great credit ratings in order to qualify – this one doesn’t. It’s a full-featured rewards card which earns you five points for every dollar spent on gas, grocery and medicine. Despite a $29 annual fee, this offers plenty of benefits for people who otherwise wouldn’t have a chance to own a rewards card.