Credit ratings tell a lending company such as credit card companies whether you are worthy to be extended credit. They do this so that they can weed out people who charge but don’t pay on time, sufficiently or not at all when dunned. The credit rating is a different matter from a credit score. Credit scores are based on mathematical formulas that’s why you have categories such as bad (below 599), good (700-749), excellent (750+) and fair (650-699). Credit ratings are opinions made by credit rating agencies that use their expertise and your credit history to give an assessment of your ability to meet your dues. That is why it is still possible for you to get a good credit card even if you have fair credit.
Perhaps the matter is that you haven’t had time to establish a credit history because you haven’t had your account for three years which is the minimum period. Maybe you acquired a credit card when you were younger and less mature in your financial decision which is why you’ve had a blotch in your credit history. Whatever the reason may be, there are credit cards for fair credit scorers. Companies who do background checks for credit card companies can show that although you’ve had problems in the past you are developing better financial habits. When they see that you have made improvements, credit card companies are not likely to overlook your application.
If you take time to go online, you will see that there are quite a number of credit card companies willing to issue you a credit line. The only difference is that they may not be able to offer a fabulous package for individuals with good credit scores but are pretty decent nevertheless. You need to be equally careful about the credit you choose and your choice should be based on the realistic state of your finances as well as your spending habits. Otherwise any perk such as no annual fees or membership fees or cash back rewards will simply go to waste.
There are many credit card companies that are not only willing to help you get a credit card but help you improve your credit rating and upgrade your credit standing. This is the kind of company you want to get involved with. If you’ve made mistakes in handling your credit cards or any other financial transactions before, ensuring that you pay the full amount on your credit card and paying on time while controlling your spending is almost certain to be looked on with approval by credit rating agencies in the future. Selecting credit cards for fair credit can then be your step to better credit.