Credit Cards with Cashback for Everyone: Options for Different Credit Ranges

A client's FICO score is essential for their credit profile to be understood by banking institutions.

Clients with lower FICO scores tend to have more incredible difficulty obtaining credit because banks understand that granting a financial benefit such as this can represent a risk of inattentiveness.

Therefore, clients with high FICO scores tend to obtain reasonable credit offers immediately. Hence, banking institutions understand that this client profile is ideal for honoring their financial commitments.

To understand how banks validate the FICO score, we must first understand its facts:

• Terrible: score below 580;
• Bad: pontuação between 580 and 669;
• Fair: point between 670 and 739;
• Good: point between 740 and 799;
• Excellent: score greater than 800.

However, the situation can become challenging if your credit score falls below the threshold between good and excellent. Fortunately, specialized credit cards are designed to cater to individuals with varying credit profiles, including those with less-than-perfect credit.

These specialized cards are tailored to offer specific benefits and are often more lenient in their approval criteria, making them accessible to clients with lower credit scores. They can serve as a valuable tool for rebuilding credit or establishing a credit history for those who may have faced financial setbacks.

Exploring the diverse range of credit cards available in the market is essential, each catering to different audiences and credit profiles. By conducting thorough research and comparing the features and benefits of various cards, you can select the one that best aligns with your unique financial circumstances and credit score.

Whether you are looking to improve your credit standing or simply seeking a card that fits your current financial situation, there's likely a credit card suited to your needs. 

Take the time to evaluate your options and choose wisely to maximize your benefits and opportunities. Discover different cards in today's text and select the one that best suits your credit range!

1 – Discover it® Secured

Discover it® Secured is a card designed for those with a poor FICO score. Although it does not guarantee credit approval, the card has a system that periodically evaluates a pre-approved customer's profile, adjusting their limit according to their history with the bank.

However, it is not a card that offers excellent advantages beyond making the credit market more accessible. Today the offer includes 2% cashback on payments made at gas stations or electric vehicle charging stations and also on payments made at restaurants.

On all other purchases, the card also has unlimited 1% cashback.

2 – Capital One QuicksilverOne Cash Rewards

Capital One QuicksilverOne Cash Rewards has a good history of approval from customers with FICO scores considered fair or average. Unlike most cards that offer the best benefits, it does not require a good or excellent credit profile.

However, like other credit cards focused on this same scoring margin, it must be made clear that the customer's initial limit will tend to be lower and that the benefits may be less exciting.

Today, the card promises to deliver unlimited 1.5% cashback on all your purchases.

In other words, every day, regardless of what and how much is paid, a balance of 1.5% will always be generated on any of the customer's purchases.

3 – Chase Freedom Unlimited

Chase Freedom Unlimited requires customers to have a FICO score between good and excellent.

As it is a more traditional bank in the American economy, it is natural to expect more excellent selectivity from its members. Therefore, when designing a credit card like this, the bank also directs its efforts to find customers with a more appropriate profile and who have a low risk of default.

Additionally, Chase Freedom Unlimited has excellent cashback offers. The bank's customers can count on unlimited 1.5% cashback on all their purchases. A minimum fee of 1.5% will be credited to your account whenever any type of payment is made.

However, the card generates different cashback rates, varying between 3 and 5%, to pay for meals, drugstore purchases, airline tickets, and hotels.

4 – Citi® Double Cash

Citi® Double Cash is another credit card option for those with scores ranging from good to excellent.

Customers with an average or fair score already report having obtained card approval, but it must be said that these are very specific cases and that whenever you seek approval for a credit card without your proposal being approved, your FICO score may be affected and become lower.

If you want to test and check if your card will be approved, you can count on some really exciting benefits, such as unlimited 2% cashback on all your purchases.

Unlike other cards, however, the way Citi® Double Cash pays your cashback is exciting: 1% is guaranteed when the customer pays the bill using the card. Another 1% is paid when the customer pays their monthly statement with the bank.

As different as the cashback payment dynamics established by the credit card may be, it is still worth — and a lot — observing its proposal, which is independent of any category of consumption and granted in an utterly unlimited way, benefiting the customer on all their purchases.

Denied for a Credit Card: What's Next?

The FICO score is crucial for financial institutions that grant credit to consumers, and keeping it at a healthy rate is essential for you to enjoy access to the consumer market.

Suppose your card proposals have yet to be approved. In that case, it is time to review your financial situation, starting by checking whether your bills are being paid on time every month, which potentially has a greater chance of lowering your credit score.

The other thing to look out for is if you have low credit balances in the market, such as when you have several credit cards taken out, but all with a meager limit.

This can compromise your available balance for new contracts, so you should work with your current bank to improve your limits or even stop using already contracted cards to increase your available balance.

Another point to note is to limit your bills, ensuring that credit card spending does not exceed 30% of your monthly income.