Best Credit Cards for Credit Scores Around 580
| Credit Card | Best For | Credit Score | Annual Fee | Welcome Bonus | |
|---|---|---|---|---|---|
| No SSN | 300–669 | $0 | |||
| High Limit | 300–669 | $39 ($0 for the first year if you set up autopay) | |||
| No Interest | 300–669 | $0 | |||
| Rebuilding Credit | 300–669 | $75-$99 | |||
| Secured | 300–669 | $0 | Cashback Match | ||
| Simplicity | 300–669 | $0 | |||
| Low APR | 300–669 | $49 | |||
Credit scores between 580 and 669 are considered fair credit by FICO. If your score is under 580, or even just over, the majority of credit cards that you’re eligible for will be the same as the ones that you could get with bad credit. (Yes, even with the lowest credit score of 300.)
This limits your options to a class of credit cards that have:
- Limited to no rewards
- Extremely high interest rates
- High annual, monthly, or setup fees
While there are exceptions to each rule, it’s rare to find a credit card for scores in the 580 range that has completely favorable terms. That’s because, due to your score, creditors simply don’t trust that you’ll pay your bills reliably, and they offset that risk by charging you more for the card.
With that said, a 580 score grants you access to both unsecured (no deposit) and secured credit cards that can help you achieve your financial goals. In this credit score range, your primary goal should be to rebuild your credit—so a secured credit card is really all you need.
But if you absolutely must get an unsecured and high-limit credit card for bad credit in order to make a necessary purchase or pay off a pressing debt, you also have that option. Just beware of the high interest rate on these cards, which could easily put you into even deeper debt.
Table of Contents
Unsecured credit cards for a 580 credit score
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
Prosper® Card
Tomo Credit Card
Credit One Bank® Platinum Visa® for Rebuilding Credit
Secured credit cards for a 580 credit score
Discover it® Secured Credit Card
BankAmericard® Secured Credit Card
First Progress Platinum Prestige MasterCard® Secured Credit Card
How to choose a credit card for a 580 credit score
When choosing a credit card for a score around 580, there are three main considerations to make.
You’ll want to:
- Avoid fees you can’t earn back: Credit cards in this range that have rewards tend to come with steep annual fees. It only makes sense to pay credit card fees if you’re certain you’ll earn enough money back on its rewards.
- Decide if a high limit is really worth it: Yes, you can get a high limit card with a 580 credit score. But there’s no purpose if it’s going to put you into a deeper debt spiral. A secured credit card with a low limit will help you rebuild your credit just as quickly, and more safely.
- Apply using a pre-approval process if possible: Many cards in this range offer a pre-approval process, meaning they’ll do a non-harmful credit check to see if you’re even eligible. If you’re uncertain about your credit and don’t want to damage it further on accident with a hard inquiry, this is a good approach.
FAQs
Can I get a credit card with a score around 580?
Yes, you can. You can even get a credit card with a score of 500 or lower, all the way down to the lowest credit score of 300. Many credit cards are designed for people like you that have bad (aka, subprime) credit. In fact, after paying off existing debts, getting a credit card and using it responsibly is one of the best ways to rebuild your credit.
Should I wait until I have a better credit score to get a card?
Although your credit score may be just within (or close to) FICO’s fair credit range, the card choices aren’t going to improve much until your score is in the good range. Your 580 score will recover more quickly if you start reporting a responsible payment history to the credit bureaus as soon as possible, so it makes sense to start now and not wait.
Should I get a credit card with a credit score around 580?
You should only get a credit card if it makes financial sense and you’re able to pay it off responsibly. For instance, if your credit score was damaged by being in severe credit card debt that you haven’t yet paid, it’s far more important for you to pay off those existing debts than to get a new card.
If your credit score is 580 due to being deep in credit card debt, there are some strategies where getting a new card might make sense. As an example, you might be able to consolidate or balance transfer your debt to a new credit card with a lower interest rate, or even a 0% intro APR.
Executing on a plan like that isn’t as easy as it sounds—you’ll need to make solid predictions and accurate calculations to know if you’ll save money in the end. Don’t rely on guesswork.
