Best Credit Card for People with a 580 Credit Score

Many banks will deny people with 580 credit scores but this fintech offers the best credit card, with rewards, for low scores.

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A 580 credit score is considered fair credit according to FICO®, the most widely used credit scoring model. But some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.

If you’ve run into issues getting approved for an unsecured card for 580 credit scores, consider the Upgrade Select Visa Card that has more flexible underwriting guidelines than most credit cards.

Best Credit Card For 580 Credit Score

This Upgrade Select Visa review will help you understand why this credit card/personal loan is the best credit card for individuals with 580 credit scores.

Overview of Upgrade Select Visa

$200 Welcome Bonus with qualifying activity

Upgrade Select Visa

Flexible credit requirements make this the best credit card for 580 credit scores and above.

Features

Unsecured credit lines from $500 to $2,000
Get up to 10% cash back on from your favorite brands
$200 bonus when you also open a Rewards Checking Plus account and make 3 debit card transactions
$39 Annual Fee

Apply Today

iOS app rating: 4.8/5 stars
Android app rating: 4.7/5 stars

What is the Upgrade Select Visa Card

The Upgrade Select Visa card is a type of hybrid financial product that combines the convenience of a credit card with the structured repayment of a personal loan. It allows you to make purchases anywhere Visa is accepted, just like a traditional credit card.

Hybrid Nature:

Credit Card Aspect: You can use the card for everyday spending and choose to either pay the balance in full each month or carry it over.

Personal Loan Aspect: If you carry a balance, Upgrade automatically converts it into a fixed-rate personal loan. This means you’ll have a set monthly payment and a predetermined payoff date.

Benefits:

Predictability: Unlike traditional credit cards, where interest can accrue indefinitely, the Upgrade Select Visa provides predictable monthly payments and a clear timeline for paying off your debt.

Financial Discipline: The fixed repayment structure encourages responsible spending and helps you avoid the debt cycle often associated with revolving credit cards. The hybrid aspect of the card works well for people with poor credit by preventing balances from lingering causing debt to rack up indefinitely. Cardholders save money on interest compared to revolving debt.

How the Upgrade Select Visa Works?

Make Purchases: Use the card for any purchase where Visa is accepted.

Choose Payment Method: You can pay the balance in full each month to avoid interest charges.

Automatic Loan Conversion: If you carry a balance, it automatically converts into a personal loan with a fixed interest rate and monthly payment.

Repay the Loan: Make your monthly payments until the balance is paid off.

$200 Welcome Bonus

Upgrade offers a $200 welcome bonus if you open a new Rewards Checking Plus account as part of your Card application process*. See terms and conditions on their website.

Upgrade Select Visa Features

Credit Limit

The Upgrade Select Visa offers unsecured credit limits of $500 to $2,000. You can use the card anywhere Visa is accepted.

Annual Fee

The Upgrade Select Visa has a $39 annual fee that is split into 12 equal payments (no interest), reducing the amount of your available credit line.

Regular Purchase APR

Cardholders pay 21.96% to 29.99% on regular purchases. Better credit scores typically get the lower rates. However, Upgrade gives you get a fixed payment and interest rate at the end of each cycle. This way you know exactly when you’ll pay off your purchases making it easier to budget debt.

Late Fee

Upgrade credit card doesn’t charge a late fee.

Balance Transfer Fee

If you transfer a balance to your Upgrade card, you’ll pay up to a 5% balance transfer fee. It comes out to about $5 for every $100 spent.

Foreign Transaction Fee

There is a 3% foreign transaction fee or up to $3 for every $100 spent when using your card abroad.

Cashback Rewards

Upgrade Select Visa cardholders get access to cash back offers up to 10% cash back with Upgrade Shopping. Ofers can be activated in your account dashboard where you’ll shop online through Dosh or at stores, using your Upgrade card.

Apply Today

Pros

Flexible qualifying requirements

Offers a welcome bonus

You can see if you qualify in seconds, and it doesn’t hurt your credit score

Predictable payments

Earns cash back with select merchants

Cons

Charges an annual fee

Low maximum credit limit

High APR

Is the Upgrade Select Card for You?

The Upgrade Select Visa is ideal for individuals who want the flexibility of a credit card but prefer the structured repayment of a loan.

It can be particularly beneficial for those who tend to carry balances and want to avoid the high-interest trap of revolving credit.

Overall, the Upgrade Select Visa is a hybrid financial tool that offers a unique blend of credit card convenience and personal loan discipline. It’s designed to help you manage your spending responsibly while providing a clear path to debt payoff.

*Welcome Bonus Disclosure: To qualify for the welcome bonus, you must open and fund a new Rewards Checking Plus account through Upgrade and make 3 qualifying debit card transactions from your Rewards Checking Plus account within 60 days of the date the Rewards Checking Plus account is opened. If you have previously opened a checking account through Upgrade or do not open a Rewards Checking Plus account as part of this application process, you are not eligible for this welcome bonus offer. Your Upgrade Card and Rewards Checking Plus account must be open and in good standing to receive a bonus. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking Plus account as a one-time payout credit within 60 days after meeting the conditions.