When transitioning from short to long hair, there’s a middle stage where it’s too long to ignore but not quite long enough to style. A credit score in the range of 600 to 650 is the financial equivalent of this midpoint. It might not be stellar enough for premium rewards cards, but it’s certainly too good to settle for expensive subprime options.
Your Credit Score’s Influence on Card Options
Your ability to secure credit cards with a 600 credit score depends on the nature of your credit history. If you’re new to credit or a student, opt for a no-annual-fee card. On the other hand, if you’re recovering from past financial missteps, consider a secured card for better value.
Credit Cards for a 600 Credit Score: Available Options
Exploring the Best Credit Cards for 600 to 650 Credit Scores
While a credit score in the 600 range doesn’t place you at the bottom of the credit hierarchy, you’re not in the driver’s seat for premium credit cards either. To comfortably qualify for the coveted prime credit cards with rich rewards, a score above 670 is usually necessary.
However, a credit score between 600 and 650 can still secure you a solid unsecured credit card or a low-fee secured card that allows you to build credit and potentially earn rewards. Responsible use of your new card for six to twelve months should lead to an improved score, opening doors to even better credit cards.
Fortiva® Mastercard® Credit Card
Earning Rewards and Building Credit Responsibly
- Receive 3% Cash Back Rewards on Gas, Groceries, and Utility Bill Payments.
- Earn 1% Cash Back Rewards on all other eligible purchases.
- Accepted wherever Mastercard® is recognized.
- $0 fraud liability.
- Complimentary access to your VantageScore 4.0 credit score from TransUnion.
The Fortiva® Mastercard® Credit Card is accessible to consumers with fair credit. It allows both online and in-store purchases while aiding in credit building through responsible usage. Furthermore, it offers up to 3% cash back and periodic credit limit reviews.
Platinum Mastercard® from Capital One
A Rare Unsecured Card for Fair Credit
- No annual fee.
- Standard benefits of Capital One and Mastercard, include $0 fraud liability and a user-friendly mobile app.
- Eligibility for a higher credit limit after making the first six bill payments on time.
- Reports to all three major credit bureaus.
The Platinum Mastercard® from Capital One is a unique unsecured card for fair credit holders, distinguished by its no annual fee and the advantages of both Capital One and Mastercard. Plus, you become eligible for a higher credit limit after six consecutive on-time bill payments.
Discover it® Secured Card
All-Around Winner for Building Credit
- Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined quarterly purchases.
- The minimum deposit requirement of $200.
- No annual fee.
The Discover it® Secured Card is an excellent choice, offering cash-back rewards, flexible credit criteria, and no annual fees. You’ll find it easy to secure with a minimum deposit of just $200, and the credit line matches your deposit.
The Best Unsecured Cards for 600 to 650 Credit Scores
With a credit score between 600 and 650, you have more options for unsecured credit cards compared to lower scores. However, the easiest cards to secure are still those with annual fees and minimal perks.
Aspire® Cash Back Reward Card
Generous Rewards for Fair Credit
- Earn 3% Cash Back Rewards on Gas, Groceries, and Utility Bill Payments.
- Earn 1% Cash Back Rewards on all other eligible purchases.
- Up to a $1,000 credit limit, subject to credit approval.
- Prequalify without affecting your credit score.
- No security deposit.
The Aspire® Cash Back Reward Card is an excellent choice for those with a credit score of 600 and is marketed towards individuals with “less than perfect credit.” It allows you to check your prequalification status before applying, avoiding potential credit score impacts.
Surge® Platinum Mastercard®
A Generous Credit Limit for Subprime Credit
- Initial credit limit of $300 – $1,000, subject to available credit.
- All credit types are welcome.
- Monthly credit score check.
- Opportunity to request a credit limit increase after twelve months (fee applies).
The Surge® Platinum Mastercard® offers a substantial credit limit for individuals with subprime credit scores. While it carries a higher APR, it’s a better option than some other unsecured cards for bad credit. The card provides credit bureau reporting and Mastercard’s Zero Liability protection against unauthorized charges.
Revvi Card
Cash Back Rewards with No Perfect Credit Required
- Earn 1% cash back rewards on payments made to your Revvi Credit Card.
- No perfect credit is required.
- $300 credit limit, subject to available credit.
- A checking account is required.
- Opportunity to request a credit limit increase after twelve months (fee applies).
The Revvi Card stands out by offering cash-back rewards without the need for a security deposit, a rarity in the subprime market. However, it comes with a high APR, so timely payments are essential to avoid interest charges.
READ ALSO: What Does a 720 Credit Score Mean?
Top Secured Cards for 600 to 650 Credit Scores
A low credit score often signifies a high credit risk, making it challenging to secure most types of credit. To mitigate this risk, secured credit cards require a cash deposit for approval, reducing the issuer’s risk. As a result, secured cards are more accessible and may feature lower fees and purchase rewards.
OpenSky® Secured Visa® Credit Card
Easy Approval with No Credit Check
- No credit check for instant approval.
- An 85% average approval rate for the past 5 years.
- Consideration for a credit line increase after 6 months without an additional deposit.
- Eligibility for the OpenSky Gold Unsecured Card after as few as 6 months.
- Monthly reporting to all three major credit bureaus.
- View your FICO® Score through your OpenSky account.
The OpenSky® Secured Visa® Credit Card offers no-credit-check approval, a free credit score, and a reasonably low APR. However, it does carry an annual fee, making it a suitable choice if you tend to carry a balance.
Discover it® Secured Card
Cash Back Rewards and No Annual Fee
- Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined quarterly purchases.
- Minimum $200 deposit requirement.
- No annual fee.
In addition to its affordable fees, the Discover it® Secured Card offers purchase rewards and a year-end cash-back match. With no annual fee, it’s a suitable option for building credit and earning rewards.
Quicksilver Secured from Capital One
Steady Cash Back Rewards
- Earn 1.5% cash back rewards on all eligible purchases.
- Reports to all three major credit bureaus.
- No annual fee.
Like the Discover card, the Quicksilver Secured from Capital One can potentially transition to an unsecured card as your credit improves. Capital One periodically reviews your eligibility and automatically upgrades your account if you qualify.
Top No Annual Fee Cards for 600 to 650 Credit Scores
While many associate annual fees with premium reward cards, several cards at the other end of the spectrum may also charge annual fees. However, it’s not impossible to find no-annual-fee unsecured cards for those seeking to build credit without added expenses.
Platinum Mastercard® from Capital One
Build Credit with No Annual Fee
- Opportunity for a credit limit increase after six consecutive on-time bill payments.
- Reports to all three major credit bureaus.
- No annual fee.
By making the first six bill payments on time, you become eligible for a higher credit limit, which can help boost your credit score. Additionally, you gain access to your free credit score.
Discover it® Secured Card
Building Credit with Rewards
- Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined quarterly purchases.
- Minimum $200 deposit requirement.
- No annual fee.
This card offers purchase rewards for fair-credit consumers, providing up to 2% cash back on eligible bonus purchases and an unlimited 1% cash back on all other purchases.
Quicksilver Rewards for Students from Capital One
Student-Friendly Credit Building
- Earn unlimited 1.5% cash back on every purchase daily.
- Automatically considered for a higher credit line after 6 months.
- No annual fee.
This card is tailored to students and offers cash-back rewards on every purchase. After six months, you might qualify for a higher credit limit.
READ ALSO: What Does a 710 Credit Score Mean? Is it Good or Bad?
Top Student Cards for 600 to 650 Credit Scores
As a student, your credit score is likely to be low or non-existent, but that won’t hinder you from obtaining a quality credit card designed to help students build credit. Student cards typically feature flexible credit requirements, no annual fees, and often include purchase rewards and other benefits.
Bank of America® Customized Cash Rewards for Students
Cash Back for Student Credit Builders
- Earn 3% cash back in the category of your choice and 2% at grocery stores and wholesale clubs.
- Earn 1% cash back on all other purchases.
- No annual fee.
- Modest signup bonus and an introductory 0% APR offer.
- Cashback is limited to the first $2,500 in combined category purchases each quarter.
The Bank of America® Customized Cash Rewards for Students offers cash-back incentives, a no-annual-fee policy, and the opportunity for a modest signup bonus and a 0% APR offer.
Discover it® Student Cash Back
High Rewards for Student Credit Building
- Earn 5% cash back rewards for purchases on up to $1,500 in qualifying category purchases each activated quarter.
- Unlimited 1% cash back on all other purchases.
- No annual fee.
- Cash Back Match signup bonus doubling earnings in the first year.
- 0% APR for new purchases and a reduced balance transfer rate for six months.
The Discover it® Student Cash Back card provides substantial rewards for students and an unmatched Cash Back Match bonus, doubling cash back earnings in the first year.
Quicksilver Rewards for Students from Capital One
Flexible Credit Building for Students
- Earn unlimited 1.5% cash back on every purchase daily.
- Automatically considered for a higher credit line after 6 months.
- No annual fee.
This student-focused card offers cash-back rewards on all purchases and the potential for an automatic credit line increase after six months. Please note that the card has a higher variable APR, so paying the balance in full monthly is advisable to avoid interest charges.
Is a Credit Score of 600 to 650 a Good Score?
Understanding Credit Score Ranges
Credit scores can be obtained for free from numerous sources, but understanding their implications is crucial. The significance of your score depends on the specific scoring model used. While various models exist, two prominent ones are FICO and VantageScore.
FICO vs. VantageScore Models
The popular FICO® Score 8 and VantageScore 3.0 share a similar range of 300 to 850, with 850 representing a perfect score. A credit score of 600 to 650 may appear decent, but it’s important to realize that the threshold for good or prime credit typically begins at 670.
However, the classification of credit scores differs between FICO and VantageScore. FICO considers scores in the 600 to 650 range as “fair,” whereas VantageScore categorizes them as “poor.” Credit card issuers may also use their own criteria, evaluating factors beyond just your credit score.
Securing a Credit Card with a 600 FICO Score
Understanding the Approval Process
Today, the credit card market offers options for nearly every credit score, making it feasible for individuals with various credit histories to obtain a credit card. However, the quality of available credit cards will differ based on your credit reports.
Factors Considered by Credit Card Issuers
Credit card issuers evaluate not only your credit score but also your entire credit report, including factors like your payment history, open accounts, and individual history with specific banks. Your score is one of many elements that influence the approval process.
Consumers with credit scores ranging from 600 to 650 are usually in the process of establishing credit or rectifying previous financial errors. Both situations categorize you as a riskier borrower, limiting access to prime credit cards.
Using Your Credit Score to Guide Card Selection
Although credit scores aren’t the sole approval factor, they are an effective tool for identifying suitable credit card options. Applying for cards tailored to similar credit scores can prevent unnecessary hard credit inquiries that can affect your score.
A credit score between 600 and 650 generally falls within the poor to fair range. Consequently, applying for premium credit cards designed for consumers with excellent credit scores (750 FICO and above) is unlikely to result in approval.
Elevating Your Credit Score from 600 to 700
Tips for Credit Improvement
Increasing your credit score by 100 points is a gradual process but brings substantial benefits. Here’s how you can elevate your score, which can be aided by your new credit card:
Maintain Timely Payments
Payment history constitutes 35% of your FICO score, making on-time payments vital for preserving and enhancing your credit score.
Manage Credit Utilization
Keep your credit utilization ratio below 30% by not exceeding 30% of your credit limit, a critical factor affecting your credit score.
Limit New Applications
Numerous new credit applications within a short period can negatively impact your credit score for up to a year. This factor is accounted for in the “new credit” aspect.
Diversify Your Credit Mix
Opening a new credit card can enhance your credit mix by introducing different types of credit accounts. A diverse mix can positively impact your credit score.
Improving your credit score may take several months, but it is a worthwhile endeavor. Your new credit card can serve as a valuable tool to facilitate the process. By following sound credit management practices, you can achieve a higher credit score and access better financial opportunities.
Making the Most of Fair Credit
Building credit with a fair score can be compared to waiting for your hair to grow from short to long. It’s a gradual process, but with patience and the right approach, you can attain your financial goals. As your credit score gradually rises from the 600 to 650 range, your credit card options will expand, providing more cost-effective ways to build your credit. While prime rewards cards may still be a future goal, each on-time payment brings you closer to achieving it.
To Recap
In conclusion, navigating the world of credit cards with a 600 credit score may present some challenges, but it’s far from impossible. Your credit score, like that awkward stage when you’re transitioning from short to long hair, is a work in progress. While you may not qualify for premium rewards cards just yet, there are numerous credit card options available to help you build or rebuild your credit responsibly.
By choosing the right credit card, making on-time payments, and managing your credit wisely, you can gradually elevate your credit score from the 600 to 650 range to a higher, more favorable position. As your score improves, you’ll have access to a wider array of credit card options, potentially including those with premium rewards and benefits.
So, don’t be disheartened by your current credit score. Instead, view it as a stepping stone toward achieving your financial goals. Remember, your credit journey, like your hair growth, may take time, but with patience, the right approach, and the right tools, you can reach your desired destination.
In the end, the key is to make your credit work for you, and with each responsible use of your credit card, you’re taking a step closer to a brighter financial future.
FAQs
1. What is a good credit score range for premium credit cards?
A good credit score range for premium credit cards typically starts at 670 and above. Credit card issuers consider scores in this range as more favorable for granting access to premium rewards and benefits.
2. Can I improve my credit score from 600 to 700 with a credit card?
Yes, you can improve your credit score from 600 to 700 with the responsible use of a credit card. Timely payments, keeping credit utilization low, and diversifying your credit mix are essential steps in this process.
3. Are there credit cards available for students with no credit history?
Yes, there are credit cards designed specifically for students with limited or no credit history. These cards typically have flexible credit requirements and often offer rewards and other student-friendly benefits.
4. How can I avoid unnecessary hard credit inquiries when applying for credit cards?
To avoid unnecessary hard credit inquiries, apply for credit cards that match your credit score range. Applying for cards that are tailored to your credit profile reduces the risk of rejection and excessive inquiries.
5. What should I do if my credit score falls within the 600 to 650 range?
If your credit score falls within the 600 to 650 range, focus on responsible credit use, including making timely payments and managing your credit utilization. Over time, this can help improve your score and open doors to better credit card options.
In another related article, 650 Credit Score: What You Need to Know
