What Credit Cards Can I Get With a 620 Credit Score?
A credit score of 620 is considered fair, indicating that you may have had some financial difficulties in the past. However, it does not necessarily mean that you cannot qualify for a credit card. Many credit card companies offer options for individuals with fair credit scores, providing you with an opportunity to rebuild your credit and improve your financial standing.
If you currently have a credit score of 620, here are several credit card options that you may consider:
1. Capital One Platinum Credit Card:
The Capital One Platinum Credit Card is designed for people with average credit. It offers credit-building tools and no annual fee. While it may not have many rewards or benefits, it provides an opportunity to build your credit history.
2. Discover it Secured Credit Card:
The Discover it Secured Credit Card is a secured credit card that requires a security deposit. It offers cash back rewards, a feature that is rare for secured cards. This card is an excellent option if you are looking to rebuild your credit while earning rewards.
3. Credit One Bank Platinum Visa:
The Credit One Bank Platinum Visa offers cash back rewards and is tailored for people with fair credit. It comes with an annual fee, but it provides an opportunity to rebuild your credit with responsible use.
4. Indigo Platinum Mastercard:
The Indigo Platinum Mastercard is specifically designed for individuals with less than perfect credit. It does not require a security deposit and offers pre-qualification, making it an accessible option for those with a credit score of 620.
5. OpenSky Secured Visa Credit Card:
The OpenSky Secured Visa Credit Card does not require a credit check, making it an excellent choice for individuals with a 620 credit score. A security deposit is required, but it offers an opportunity to rebuild credit without a credit score hindrance.
6. Milestone Gold Mastercard:
The Milestone Gold Mastercard is available to individuals with fair credit. It offers customized card designs, no application fees, and a quick pre-qualification process.
7. Total Visa Credit Card:
The Total Visa Credit Card is designed for individuals with limited or imperfect credit. It reports to all three major credit bureaus, allowing you to rebuild your credit history.
7 FAQs about Credit Cards with a 620 Credit Score:
1. Can I get a credit card with a 620 credit score?
Yes, you can. There are several credit card options available for individuals with fair credit, including those mentioned above.
2. Will I be eligible for rewards or benefits with a 620 credit score?
While some credit cards for fair credit offer rewards and benefits, they may be limited compared to those offered to individuals with excellent credit scores.
3. Can I improve my credit score with these credit cards?
Yes, responsible use of these credit cards can help improve your credit score over time by showcasing your ability to manage credit responsibly.
4. Are these credit cards secured or unsecured?
Some of the mentioned credit cards are secured, meaning they require a security deposit, while others are unsecured, not requiring a deposit.
5. Are there any annual fees associated with these credit cards?
Some of the credit cards mentioned above come with annual fees, while others do not. It is essential to review the terms and conditions before applying.
6. Can I apply for multiple credit cards with a 620 credit score?
While it is possible to apply for multiple credit cards, it is generally advisable to be cautious and avoid applying for too many credit cards simultaneously, as it may negatively impact your credit score.
7. How long does it take to rebuild credit with these credit cards?
Rebuilding credit takes time and depends on various factors, such as your credit history and payment behavior. With responsible use, you can begin to see improvements in your credit score within a few months.
In conclusion, having a credit score of 620 does not mean you are limited in your credit card options. There are several credit cards available specifically designed for individuals with fair credit. By choosing the right credit card and using it responsibly, you can rebuild your credit and work towards achieving a higher credit score.