Find the best credit card by your credit level.
Choosing the credit card that is right for you can be difficult. There are many different credit card offers available today. Your credit history will determine the types of credit cards you will be able to qualify for.
Best Credit Cards for Bad Credit or No Credit
If you have poor or no established credit history you will need to apply for a credit card for bad credit or no credit. These credit cards will typically have credit card fees. It is important to review the terms and conditions of these offers before you apply to find the best bad credit card. Keep it mind that it is not bad to pay these credit card fees. These types of credit cards require credit card fees because there is more risk associated with this kind of account. The same can be said about secured credit cards, but both are great first steps in establishing credit. Prepaid cards are nice and a good option for some, however, they will not help you build a credit history. Building positive credit history should be a top priority if you fall into this category.
Best Credit Cards for Fair Credit
Fair credit card offers more choice than the bad credit category. You will get a few perks, but don’t expect too much. With fair credit, you have two options to find the best credit card. The first type of card you can find is a credit card with no rewards and no annual fee. The other option would be a reward card with a yearly fee. You can find these types of fair credit card offers if you carefully read the terms and conditions of each credit card. Make sure when you look online it says that this offer is for fair credit. There is no sense in applying for a credit card offer in the good or great credit card category because you will not get approved. Expect interest rates to be somewhat high in this category. An 18% interest rate would be considered good in the fair credit category.
Best Credit Cards for Good Credit
If you have good credit then finding a credit card is fast and easy. With good credit, you have a larger selection of credit cards to choose from to meet your needs. It should be relatively easy to find a credit card with rewards that have no annual fee. Many retailers offer branded credit cards that offer special rewards for being a card holder. Many of the best credit card offers today for good credit. You will find many credit card offers to review online.
Best Credit Cards for Excellent Credit
If you have excellent credit, then the world is your oyster. You can choose any credit card without an annual fee you like, and you will get approved. This still does not mean that you will get approved for all credit cards. There are a few exceptions. There are certain credit cards such as the American Express Platinum Charge Card that is tough to get approved for. What’s more, even though this charge card is for excellent credit it has an annual fee. The annual fee for this card is $450.00. This charge card from American Express is a status symbol among the elite. Keep in mind that the Platinum Charge Card from American Express offers V.I.P. special treatment by American Express. If you are a high profile client, you may be chosen to receive the American Express Black Card. You can have the highest credit score possible, but you can not apply for this credit card. The American Express Black Charge Card is strictly by invitation only.
No matter what credit category you fall into there is a credit card out there that is right for you. Listed below is a chart detailing the different credit levels. You can look that up through the number of various credit score reporting companies operating today if you are not sure what your credit score is. Checking your credit score does not count as an inquiry on your credit report.
Credit Score Chart
700 and 850 – Very good or excellent credit score.
680 and 699 – Good credit score.
620 and 679 – Average or OK score.
580 and 619 – Low credit score.
500 and 579 – Poor credit score.
300 and 499 – Bad credit score.
This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Advertiser Disclosure for the CreditFast website – CreditFast.com, provides information about the best credit card applications, as well as other financial products and services. Our goal is to provide you with fair, balanced reviews. Some credit offers that appear on our website are from companies from which CreditFast receives compensation, and some are not.
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