A FICO credit score falling within the 650-699 range is perceived as average. While some financial institutions might label it as fair, others might call it typical.
So, what sort of credit cards could someone with a score in this range be eligible for?
With such a score, you’re probably going to see some pretty good credit card deals coming your way. By carefully comparing offers, you can secure a card with noteworthy bonuses and rewards.
Here are some card options for those with a FICO score from 650-699:
Recommendations for Credit Cards (650-699 FICO scores)
- Chase Freedom Flex Credit Card
- Ideal for: Attractive sign-up bonus and cash back rewards without yearly fees.
- Overview: Targeted towards those closer to 699, but also open to those nearing 650. Its cash back perks make it a desirable option.
- Key Features:
- Annual Fee: None
- Initial Bonus: Spend $500 in the first 3 months and get a $200 bonus. Additionally, there’s a beneficial initial APR.
- Credit Limit: Varies with credit score.
- Reporting: Yes, to all three major credit bureaus.
- Rewards: 5% back on travel via Chase Ultimate Rewards and select quarterly bonus category purchases. Also, 3% on dining and drugstore spends, with an unlimited 1% on everything else.
- Capital One Platinum Credit Card
- Ideal for: Raising credit limit as your creditworthiness improves.
- Overview: Geared towards those with fair credit. Exact score requirements aren’t specified, but 650+ should fit the bill.
- Key Features:
- Annual Fee: None
- Credit Limit: Starts at $300
- Reporting: Yes, to all three major credit bureaus.
- Bonus and Rewards: None.
- Capital One Quicksilver Cash Rewards Credit Card
- Ideal for: Beneficial travel rewards.
- Overview: Similar to its Platinum counterpart, but with rewards. Regular credit line evaluations are offered.
- Key Features:
- Annual Fee: None
- Credit Limit: Typically ranges between $300 and $1,000.
- Reporting: Yes, to all three major credit bureaus.
- Rewards: 1.5% cashback on all purchases and enhanced 5% returns on specific travel bookings.
- Blue Cash Everyday Card from American Express
- Ideal for: Great rewards and car rental insurance.
- Overview: Rewards everyday spenders, especially at grocery stores, fuel stations, and online. Requires a score closer to 699 for approval.
- Key Features:
- Annual Fee: None
- APR: Initial 0% for 15 months.
- Credit Limit: Starts at $500
- Reporting: Yes, to all three major credit bureaus.
- Bonus: Spend $2,000 in 6 months and get a $200 bonus. Also, enjoy specific bonuses on PayPal purchases and Disney Bundle subscriptions.
- Rewards: 3% back on select categories with caps, and 1% universally on other spends.
- Discover it Cash Back Card
- Ideal for: High rewards on changing categories.
- Overview: Caters to the higher end of the 650-699 score spectrum, offering notable rewards.
- Key Features:
- Annual Fee: None
- APR: Introductory 0% for the first 15 months.
- Reporting: Yes, to all three major credit bureaus.
- Rewards: Get 5% back on select categories each quarter and 1% on all other purchases. A special first-year cash back match is also offered.
FAQs:
- Is 699 a commendable FICO score?
In 2021, the average credit score was 716. So, while 699 is average, it’s slightly below the mid-range. Typically, 720-750 is considered good. - Is a 650 score good enough for a credit card?
Yes, some cards on this list cater to scores as low as 650. However, such a score might limit the kind of cards and perks you qualify for. - What financial services can I access with a 650 score?
Surprisingly, a mortgage or car loan might be more accessible than a credit card for those with a 650 score. - How can I qualify for better credit cards?
Boost your credit score. Ensure timely payments, settle past dues, and always monitor your credit report.
Concluding Thoughts:
Your FICO score, be it 650 or 699, can determine the credit card offers you receive. While you might face rejections from certain providers, others might welcome you. Responsible card usage can enhance your creditworthiness over time. Always research well and ensure your credit report is accurate before seeking a card.
