Credit cards for those with a fair credit rating

Your credit history is important when it comes to applying for a loan or a credit card.

In the UK our credit histories are maintained by three credit rating agencies. Though they each score our credit history in a different way, they’re essentially doing the same thing – determining how good a credit risk we are.

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Credit cards

What is fair credit?

Those who are described as having ‘fair credit’ or a fair credit score are those whose score is somewhere in the middle. It’s not excellent but then it isn’t poor either.

People with a fair credit rating may be building their credit rating having previously never had a rating. Others may have had a history of poor credit management but they’ve taken steps to rebuild their score.

Can people with a fair credit ratings still get a credit card?

The success of a credit card application depends very much on the individual and their circumstances. It isn’t solely dependent on your credit rating, though there is no escaping the fact that it is a big element.

If you’ve ‘fair credit' you might not be accepted for the best credit card deals, those with very long periods of interest free credit, or low standard rates for example, but there are a number of cards designed to help you continue to build up your credit score.

A credit card can help build credit

It might seem strange to you if you’ve had poor credit history, but using a credit card can be a way of actually improving or building your credit score.

It is all down to how you use your card. A credit building credit card provider is looking for you to prove that you can be reliable when it comes to using it. That means meeting repayment deadlines and paying back what you have spent on the card. If you do this consistently, you will over time start to see an improvement in your credit score.

Credit score

Finding a credit card when you have fair credit

You’ve come to the right place. At comparethemarket.com we have a number of credit cards that could be just right for you, particularly if your rating has been poor but is now improving. 

We’ve conveniently sorted ones that are specifically designed for those building their credit rating, they’re called ‘Credit Building Credit Cards'.

Some cards come with extra advantages such as cash back on purchases or reward points on your spending.

Typical APRs (annual percentage rate) range from 25% to 35%. This might sound high but remember, if you clear the outstanding balance on the credit card in full on time each month, you won’t have to pay any interest.

You can find out all about each card by clicking on the ‘More details +’ button which is found next to each card.

To make things even easier for you, you can even start the application process as soon as you’ve decided which card is right for you. All you have to do is click on the big green ‘APPLY NOW’ button to get you started.

So, why not start comparing credit cards today?

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