10 Best Credit Cards for Average Credit in 2022
You might not qualify for rewards cards or might have to pay high-interest rates. These are all important factors in your decision when choosing your next credit card.
Credit cards are a popular form of payment, and you need to find the right one for your needs. It can be hard to know which card is best for you and what factors you should be considering. This guide will help you decide on the best credit card for your situation.
Find out if a rewards credit card or a secured card is the right fit for you. Which fees should I watch out for? How much do I need to put down to get approved? We’ll answer these questions and more here, along with 10 of the best 2020 credit cards.
What are the most important factors in getting approved for a credit card?
The most important factors in getting approved for a credit card are your credit score and credit history. Your credit score is a three-digit number that can range from 300 to 900. A higher number means you are more likely to be approved for a credit card. A good credit score will also typically make it easier for you to qualify for rates, terms, and fees that are more favorable than those given to people with lower scores.
The other important factor is your credit history. Your credit history reflects how you’ve handled past credit accounts and loans—including payments, how much you owe, and the length of time you’ve had your accounts. The better your credit history, the greater your odds of getting approved for a credit card.
Ideally, your credit score should be at least 700 to increase your chances of being approved for a credit card. But if it’s lower than that, you may still qualify for one! Use the best 2020 credit cards below to find the right card for your situation.
10 Best Credit Cards for Average Credit in 2022
1. Capital One Secured Mastercard
Capital One Secured Mastercard Card is great in that it doesn’t require any credit history, but you’ll only qualify if you have a steady income. The credit limit is determined by how much you’re willing to deposit. If you deposit $200, you’ll likely get a credit limit of $200—enough to cover the average monthly bill if you pay on time for 6-12 months.
If you have bad credit, try applying for credit with our partner, Credit Sesame. Credit Sesame is a free service that gives you two free credit scores updated weekly.
It also provides personalized suggestions to help you improve your credit files.
2. Citi Simplicity
The Simplicity Card from Citi is a low-cost option for people with low to middling credit. The annual fee is $0, which is rare for a card that reports to the credit bureaus. There is also no balance transfer fee for the first 60 days of use.
After that, the fee is 5% or $10, whichever is greater. There is a 1% cash advance fee and a 3% card replacement fee. These fees are “no-frills” and easy to understand. The minimum credit limit of $500 may be a problem for some potential customers. Cardholders cannot access their FICO scores from the Citi website. As a result, it isn’t easy to track progress toward building a good credit history.
The Simplicity Card from Citi is a low-risk option for people with low to middling credit. The card is simple and easy to understand, which is a definite plus. Discover it
3. Bank Americard Cash Rewards
This is a credit card for people with low credit. Bank of America issues it. It’s pretty good for this type of card. Here are some of the benefits:
- 5% cashback on up to $1500 in purchases per quarter (1% on everything else)
- 0% introductory APR on purchases and balance transfers for 12 billing cycles
- 0% intro APR for the first 12 billing cycles on purchases
- Up to 25% on purchases at gas stations and grocery stores
- No annual fee -Credit limit of $300 to $2000 depending on creditworthiness
- No foreign transaction fee It’s not the best card for this type of credit, but it’s worth considering.
It is a good option for people with low credit. You also get 1% cashback on purchases, 2% at grocery stores, and 3% on gas.
4. Chase Freedom
Chase Freedom card is a good credit card for people with low credit scores. If you have a low credit score, then after some time, your credit score improves, and you will be eligible for approval in Chase Freedom credit card.
Chase Freedom card is a good credit card for people with low credit scores because there is just a $500 credit limit on this credit card and not so high-interest rate.
The only catch is you have to spend $500 in the first three months and get $150 in cash. So if you are not sure whether you can spend $500 in three months, then it is better not to take this credit card. All in all, the Chase Freedom card is a good credit card for people with low credit scores.
5. Capital One QuicksilverOne Rewards
The Capital One QuicksilverOne Rewards card is not that bad of a card. Due to its reward system, the card is rather easy to get approved for. Capital One QuicksilverOne Rewards card is a kind of credit card that many people choose.
It rewards cardholders with 1.5% cash back on all purchases. And if you pay your bill in full by the due date, you also get a one-time bonus of 10.0% cash back (which is essentially like getting 2.25% cash back on all purchases).
On top of that, there is no annual fee, so it’s a pretty good card to get approved for if you have a low credit score.
6. Citibank Simplicity
Citibank Simplicity is one of the best credit cards out there. It comes with a low credit limit and is suitable for those with a low credit score. Citibank Simplicity is a great card for you because it offers you up to 3% cashback on all your purchases and 1% cashback on everything you buy. Furthermore, the Simplicity Card has a 0% intro APR for 15 months and an APR of 15.24% to 25.24% variable. It also comes with a zero liability policy, which means your purchases are guaranteed to be yours, and you’re not liable for any fraudulent purchases.
This card requires a very small security deposit and has no annual fee. The interest rate on this card is fairly high, and there is no grace period on cash advances. Nevertheless, Simplicity is an excellent choice for those with very little or no credit history.
7. Avant Credit Card
Avant Credit Card is for people with lower credit scores. If you are using an Avant Credit Card, you should be aware that this card does not have any major benefits, other than the fact that it charges low-interest rates.
However, if you are constantly late on payments, then this card is not for you. It will only end up causing you further problems, as it will mess up your credit score even more.
The only people who should use this card are those with poor or no credit. The Avant Credit Card does not always look at people with great credit scores, so don’t even bother applying if you do have one.
8. Bank of America Premium Rewards
The Bank of America Premium Rewards card is a great option for individuals with a credit score of 640 or higher. One of the most appealing aspects of this card is the rewards points system. For every dollar spent on the card, you’ll receive a rewards point. These points never expire and can be redeemed for many types of merchandise.
If you want to get a credit card when your credit score is low, you should go with a bank of America Premium Rewards Credit Card. This is a no-fee rewards credit card designed specifically for people with low credit scores. The card will help you raise your credit in two ways.
The Bank of America Premium Rewards card is a charge card requiring users to pay the full amount of their bill each month. This may be difficult for users with a low credit score.
9. Citibank Dividend Platinum Select
The Citibank Dividend Platinum Select Card for low credit is a great credit card for those with low credit scores because it has no long-term commitment and has no annual fee. It also comes with a 0% for 12 months introductory rate, so there is no interest charged during the first 12 months. You can withdraw your money from the ATM as much as you want at no charge.
The Citibank Dividend Platinum Select Card for low credit is a good credit card for those with a low credit score because it has a security feature that gives you a text or email notification every time you use the card. This way, you’ll know if someone tries to use your card.
10. Discover it Secured
Discover it Secured card is one of the Best Credit Cards for Low Credit. It’s normal for banks to require the maximum possible security deposit often. However, the key to applying for the Discover it Secured card for low credit is to remember that banks don’t want to get your money; they want to know that they will get it back if you stop making payments.
If you make the monthly payments on time, banks will review your account and release your security deposit within the grace period. Usually, you will get your money back in 6-12 months after your application.
You can check the status of your security deposit at any time by calling customer service. When you check your balance online, you’ll see the security deposit listed under your account balance.
Now that you know how to find the best credit card for you, go out there and get it! It cannot be easy to know what credit card is best for you. This guide will help you decide on the best credit card for your situation. Find out if a rewards credit card or a secured card is the right fit for you. Which fees should I watch out for? How much do I need to put down to get approved? We’ll answer these questions and more here, along with 10 of the best 2022 credit cards for people with average credit.. Hopefully, this guide has helped you, and you now know how to find the best credit card for your individual needs! It’s time to go out there and get your perfect credit card.