- No rewards breakdown available
0% promotional annual interest rate on balance transfers for 12 months (for transfers completed within 90 days of account opening).
This low-interest card focuses on saving on interest rather than earning rewards.
10.99%
24.99%
The MBNA True Line Gold Mastercard stands out as the top choice because it offers the lowest interest rate on purchases, making it ideal for those who prioritize saving on interest over earning rewards.
Pros:
- Lowest interest rate on purchases
- No rewards but focuses on savings
Cons:
- No cash back or points
- Annual fee applies
2.Neo Financial Mastercard
Neo Financial
- 5%Cash back at partner retailers
- 2%Cash back on groceries
- 4%Cash back on gas/recurring bills
A $25 sign-up bonus upon approval.
Average of 5% cash back at partner retailers and competitive rewards on everyday spending.
19.99%-29.99%
22.99%-31.99%
What sets the Neo Financial Mastercard apart is its flexibility in rewards, offering up to 5% cash back at partner retailers, making it a strong contender for those who want to maximize their everyday spending.
Pros:
- No annual fee
- High cash back potential
Cons:
- Interest rates can be high
- Rewards may vary by spending category
3.Tangerine Money-Back Credit Card
Tangerine
- 2%Cash back in customizable categories
- 0.5%Cash back on all other purchases
10% cash back on up to $1,000 in everyday purchases within the first 2 months, allowing new cardholders to earn up to $100.
Earn 2% cash back in up to three customizable categories and 0.5% back on all other purchases.
20.95%
22.95%
The standout feature here is the ability to customize cash back categories, allowing cardholders to earn 2% back on their preferred spending areas, making it a versatile option for everyday expenses.
Pros:
- No annual fee
- Customizable cash back categories
Cons:
- Limited to three categories
- Lower cash back on other purchases
4.CIBC Select Visa Card
CIBC
- No rewards breakdown available
0% interest on balance transfers for up to 10 months with a 1% transfer fee.
This card is designed for low-interest management rather than earning rewards.
13.99%
13.99%
This card shines for its low-interest rates and balance transfer offer, making it an excellent choice for those looking to manage existing debt without accumulating additional costs.
Pros:
- Low interest rates
- Balance transfer offer
Cons:
- Annual fee applies
- No rewards program
5.Desjardins Flexi Visa Card
Desjardins
- No rewards breakdown available
No welcome bonus, points, or cash back rewards.
Focuses on saving interest rather than earning rewards.
10.9%
12.9%
The Desjardins Flexi Visa Card is primarily designed for those who want to minimize interest payments, offering a low rate without the distractions of rewards or bonuses.
Pros:
- No annual fee
- Low interest rate
Cons:
- No rewards program
- Limited benefits
Final Words
In choosing the best credit card for your fair credit this February, it’s essential to consider factors like interest rates, fees, and rewards tailored to your needs. Take time to compare different options to ensure you make an informed decision that best fits your financial situation.
Frequently Asked Questions
The welcome bonus for the MBNA True Line® Gold Mastercard® is a 0% promotional annual interest rate on balance transfers for 12 months (for transfers completed within 90 days of account opening). This card focuses on saving on interest rather than earning rewards.
With the Neo Financial Mastercard, you can earn an average of 5% cash back at partner retailers and competitive rewards on everyday spending. Additionally, there is a $25 sign-up bonus upon approval.
The Tangerine Money-Back Credit Card offers 10% cash back on up to $1,000 in everyday purchases within the first 2 months, allowing new cardholders to earn up to $100. After that, you can earn 2% cash back in up to three customizable categories and 0.5% back on all other purchases.
When selecting a credit card for fair credit, consider factors like annual fees, interest rates, and the types of rewards offered. Additionally, evaluate the card's welcome bonus and whether it aligns with your spending habits.
Yes, there are credit cards designed for fair credit that do not charge annual fees. The Neo Financial Mastercard and the Tangerine Money-Back Credit Card are excellent options that offer rewards without the burden of an annual fee.
To apply for a credit card with fair credit, you should research cards that cater to your credit profile and compare their terms. Once you've selected a card, you can apply online or in-person, providing necessary documentation like income and identification.
Cash back credit cards provide rewards in the form of cash back on your purchases, which can help you save money on everyday expenses. They often come with no annual fees, making them accessible for many consumers, especially those with fair credit.
