It doesn’t mean that you cannot get approved for any credit card if your credit score is below 650. It is possible to get approved for a credit card with this range of credit score but the perks of the card will be less attractive and the interest rate is likely to be high. However, if you consistently pay on time, it will help in raising your credit score so that you can qualify for a better credit card. The following are the top 4 credit cards for people who have a credit score under 650.
1. Chase Slate
Chase Slate is the best card for those who have a credit score under 650. It comes with a zero percent 15 months introductory offer which applies to purchases and balance transfer. If you transfer your balance within 60 days, there will be no balance transfer fee charges. Chase Slate does not penalize card holders who are late in making payment by raising the APR. You don’t have to bear the annual fee cost when signing up for the card. You can log into your online account to check your updated FICO score every month.
2. Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card offers 1.5% cash back for every dollar that is spent regardless of the category. It does have an annual fee of $39. To cover the annual fee, you must spend at least $2,600 on the credit card every year. The variable APR is same as the cash advanced APR which is 24.99%. Foreign transaction fee is not added to your balance when you use the card to shop overseas.
3. Capital One Platinum Credit Card
Capital One Platinum Credit Card allows you to get qualified for a higher credit line if you are on time in making payment for the first 5 month. It gives you the option of selecting your own due date. If you are late on making payment, they will not raise the APR of the card. Capital One Platinum Credit Card has a relatively high variable APR that starts from 24.99%. However, the high APR is nothing you need to worry about if you pay your balance in full every month.
4. AOBC Platinum Rewards Card
AOBC Platinum Rewards Card comes with a zero percentage intro period that lasts for 1 year. The rewards program allows you to earn 1x point for every dollar spent. You can exchange the points for different stuff such as statement credit, gift card and voucher for your travel expenses. No penalty APR will be charged if you miss a payment. However, being late on your payment may causes you to lose access to the zero percentage introductory offer.