Surge Mastercard Credit Card Review: Good Financing For Bad Credit
In grade school, one of the worst conditions a kid could imagine contracting wasnt a cold, or the flu, or even the plague it was cooties. However fictional they may be, once you were deemed to have cooties, you were persona non grata on the playground.
While most of us become immune to cooties after puberty, adults have something far worse to worry about: bad credit. Once you have it, few creditors want to get near you and your financial risk. And it takes a lot more than a properly rhymed cootie shot to get your credit back on track.
One credit card popular with consumers working to rebuild after coming down with a case of bad credit is the Surge Mastercard®. A subprime card option, the Surge Mastercard® welcomes applicants of all credit types. In this article, well offer our Surge credit card review that covers some of the ins and outs of the card. Well also take a look at what others are saying about the card and explore some alternative cards.
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Fees Associated With The Surge Mastercard
There are a few fees cardholders need to pay in order to use the Surge Mastercard. There is an annual fee and a monthly maintenance fee, as well as a one-time fee if you would like to request an additional card. The monthly maintenance fee is waived for the first 12 months from the date that you open your account. This feature makes the Surge Card an attractive option if you plan to use the card for a short period of time before upgrading to a different card.
Why To Apply For The Surge Credit Card
The Surge Credit Card may be a viable way to improve your credit score if it is used properly. Here are a few reasons to apply.
May help boost your credit: The Surge Credit Card reports your payment activity to the three major credit bureaus every month. These agencies compile reports on your credit history which are used by lenders to determine your creditworthiness.
Making your Surge Credit Card payments on time and paying the balance in full can help to raise your credit score over time, opening the door to better credit card offers.
Alternative to a secured card: This card is a nice alternative to a traditional secured credit card for those who dont have the money to put down a security deposit.
In rare cases, you may be required to put down a small deposit of either $50, $150 or $500 in order to open your account, but most users dont have to do this. If you do have to put down a deposit, it will be refunded to you when you close the account.
Your starting credit limit will be $300, $500, or $750, which should be enough if youre only using the card for small purchases to help build your good payment history.
After the first year, you may receive the occasional credit limit increase up to a maximum of $750. But if your credit score has improved enough by this point, we recommend closing your Surge Credit Card and signing up for a better card instead of increasing your credit limit.
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Surge Mastercard Vs Indigo Platinum Mastercard
The Surge Mastercard® and Indigo® Platinum Mastercard® are very similar credit cards. Both cards dont require security deposits, and both come with high annual fees.
While the Surge credit card has a variable annual fee between $0$99 the first year, and a fixed annual fee of $99 after the first year, the Indigo® credit card maintains a variable $0$99 annual fee year after year. The Indigo® Platinum card also doesnt have monthly maintenance fees like the Surge card.
However, the Indigo® Platinum credit card only offers a credit limit up to $300. With a high annual fee and low credit limit, Indigo® Platinum Mastercard® is even worse than Surge Mastercard®.
Surge Credit Card Reviews
Accepts ALL credit? lol They said I didn’t have enough credit! HELLO,that’s why I applied! Trying to build credit.I was turned down immediately.Just because I pay with my debit card or cash.I guess it doesn’t pay if you don’t have debt. It’s a conundrum.
Great card to build credit I have been using it for 6 years starting with $300 credit line now $2000 is $ 99 per year plus $10 per month $220 total but I am grateful
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Introduction To The Surge Credit Card
The Surge credit card reports to all three major credit bureaus every month so that customers can start repairing their credit history right away. People who havent had a before can also start building credit with the Surge credit card. Customers can view their credit scores monthly on their electronic statements via their online account for their Surge credit card.
According to the credit card issuers website the initial credit limit ranges from $300 to $1,000, and customers may be eligible for a credit limit increase after only six months. You can apply for the Surge Mastercard online, whether or not you have received an offer via the mail.
The application process is fast and easy, and the approval or decline is usually provided online instantly. However, sometimes Continental Finance will spend more time reviewing an applicants credit history before they will be approved. To make payments, you will need the correct website for the . Customers can make a payment online via the Continental Finance website.
This Card Is Best For
- Motivated to create positive credit historyCredit Builder
According to Experian, one of the three major credit bureaus, 33% of Americans have a FICO score in the very poor to fair range, meaning their scores are between 300 and 669. If your credit score falls into those categories, you may struggle to get approved for a credit card, and you may be limited to a secured card.
Secured cards often require security deposits of hundreds of dollars. If you dont want to put down a security deposit, the Surge Mastercard may be an alternative. Depending on your credit, you could qualify for this card without a security deposit, giving you access to an unsecured line of credit.
However, this card does charge a lot of fees. And, unlike a secured cards security deposit, these fees arent refundable. Because of those drawbacks, the Surge Mastercard is only a good option for people who intend to use it as a short-term credit-building tool. Once you can qualify for a credit card with fewer fees, you can close your account.
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Theres The Potential For A Credit Limit Increase
The initial credit limit for the Surge Mastercard ranges from $300 to $1,000. After six months, you may be eligible for a credit limit increase, which can potentially help your credit score. Youll have to ask for it, though, and this option alone doesnt make the cost of the card worth it. There are secured credit cards that are cheaper to hold that also offer this option.
For a credit limit increase, instead consider: The Capital One Platinum Secured Credit Card offers automatic credit line increases in six months if you maintain a good payment history and youre creditworthy. You also dont have to add money to your security deposit to get it. There are different minimum deposit requirements $49, $99 or $200 depending on eligibility. Regardless of which one you qualify for, youll get a minimum $200 credit limit. If you can afford to pay the annual fee and potential monthly fees on the Surge Mastercard, a card like the Capital One Secured makes more financial sense. Assuming you maintain a good payment history, youll get your deposit money back.
Surge Mastercard Customer Service
Your Surge Mastercard® includes a helpful customer service resource! Whether you have questions about due dates, want to explore your online options, or need to discuss anything else about your account, customer service is there to help. Give Surge Mastercard® a call at 1-866-449-4514 with all your questions.
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How Does The Surge Mastercard Compare To Other Credit
Though it offers a chance at a relatively high credit limit and the ability to increase your limit with responsible card use, the Surge Mastercard is less-than-ideal for credit-builders on a budget due to its high fees.
Depending on your credit history, you may qualify for a handful of more affordable unsecured cards, some of which give you a chance to make up their cost with rewards and other benefits. Here are a few of our favorite alternatives:
Geared more toward cardholders with an average credit score, the Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase. While this is not the most impressive cash back rate, it should help to offset the cards $39 annual fee. Youll also have a chance at a credit limit increase if you make six consecutive on-time payments.
While the Credit One Bank Platinum Visa for Rebuilding is still not the cheapest option, the card offers good approval odds even with poor credit and comes with a cash back rewards program that can help reduce your total cost of ownership. Its also an unsecured card, so you wont have to tie up hundreds in a deposit just to get started.
Help Protect Your Credit:
Please selectone of the following optionsYes, Iwant to purchase Optional CONTINENTAL CREDIT PROTECTION . My decision to purchase or not to purchase theProgram will not affect any application for credit or theterms of any existing account I have with Celtic Bank. Iunderstand that:
- The monthly fee is $0.99 for each $100 of theOutstanding Account Balance on the date that my monthlybilling cycle closes.
- There are conditions, terms, exclusions, andrequirements set forth in the CONTINENTAL CREDIT PROTECTION Addendum that may prevent me from receiving Program Benefits. Important Disclosures are statedbelow.
- I will not be able to make purchases or obtain cashadvances while receiving Program Benefits.
- I may cancel at any time and if I cancel within 30days of purchase, I will receive a full refund.
Nothank you. I am not interested in the CONTINENTAL CREDITPROTECTION Program.
Type your initialshere to confirm your selection of Yes or No
Initials are required
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Surge Mastercard Credit Card Vs Credit One Bank Platinum Rewards Visa
Both of these cards are geared towards customers with poor credit. What differentiates the from the Surge Mastercard® is the former earns cash back rewards. Credit One Bank Unsecured Visa cardholders can earn 1% cash back on eligible gas, grocery and telecommunication purchases, which include internet, cellphone, cable and satellite TV services.
You can expect the same added benefits on both cards . Like the Surge card, Credit One Bank Unsecured Visa also charges between $95 in annual fees, which can be confusing because you wont know until youre approved what your exact terms are. Again, these cards are best as a last resort. There are better options available.
Optional Continentalcredit Protection Important Disclosures
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Payment History Is Reported To All 3 Credit Bureaus
The Surge Mastercard reports payments to all three major credit bureaus , companies that collect the information used to calculate your credit scores. It’s a must-have feature if your goal is to build credit, but its not a standout feature. Many other credit cards for bad credit by major issuers also report payments to these companies. This feature alone, though important, shouldnt be the only factor that sways your decision when choosing a credit card.
For a credit-building option, instead consider: The Grow Credit Mastercard allows you to build credit with qualifying subscriptions or bill payments through different membership plans. Those are the only transactions that you can put on the card. It doesn’t charge fees or interest. Plus, it skips the credit check. If credit-building is the main goal, a secured credit card that reports to the three major credit bureaus can offer flexibility on purchases. But if youre absolutely against paying a deposit, this option has some membership plans that don’t require one.
Surge Credit Card: Drawbacks And Downsides
Its a well known fact that if you have poor credit, youll pay more and receive less from your credit card. But the Surge Credit Card takes this to an extreme.
High APR: The Surge Credit Cards APR is well above the industry average. Most secured credit cards max out at 25% APR, and some offer as low as 12% APR.
Lots of fees: The cards monthly and annual fees also limit its usefulness. The annual fee is assessed before you begin using your card, reducing your credit limit.
And while that annual fee decreases after the first year, the monthly maintenance fee that kicks in adds to the annual cost. Really, the Surge Credit Card charges more fees than most top rewards credit cards, and its way out of line with comparable secured credit cards, most of which charge a fee under $50 or no fee at all.
Could lead to high debt: Whatever you do, make sure you make your Surge Credit Card payments on time and pay the balance in full. Otherwise, this credit-building tool could lead to unmanageable debt.
Say, for example, that you purchase an item for $300. If you pay that off the next month, youll pay $300. If you make the minimum $35 payment each month, it will take you 10 months to pay it off, and youll pay an extra $42.61 in interest.
And thats before we factor in the other fees. When you consider the extra $216 youll pay annually, plus any late fees, the Surge Credit Card could end up costing you more than its helping you.
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Not Sure This Card Is For You Consider These Alternatives
- Petal® 2 Visa® Credit Card: If keeping fees at a minimum is your top priority, this card could be the one for you. For more details, read our review of the Petal® 2 Visa® Credit Card.
- The Indigo® Platinum Mastercard®: If avoiding a security deposit is important to you, this card could be a good choice. For more info, read our review of the Indigo® Platinum Mastercard®.
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Surge Mastercard Credit Card Vs Citi Secured Mastercard
The Citi® Secured Mastercard® is also for customers looking to build a strong credit score, just as the Surge But unlike the Surge Mastercard®, Citis Secured Mastercard requires a security deposit is required upon card approval.
The credit limit is determined by the deposit amount you make, from a minimum of $200 up to a maximum of $2,500 in $100 increments. If you pay your credit balance on time each month, Citi may even return your initial deposit and upgrade you to an unsecured credit card.
Another major difference between the two: The Citi® Secured Mastercard® is issued by the third-largest credit issuer in the world, Citibank. Cardholders of the Citi® Secured Mastercard® will be able to establish a relationship with Citibank which may help their case for a stronger credit card from Citi as their credit improves.
Although this card earns no rewards, it comes without an annual fee which gives it an edge over competitors.
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Surge Credit Card Login
Once you have received this credit card and signed up for online access, you become able to manage your card account online. For instance, you can make a payment on your card completely online. But before that, you should make a Surge credit card login. This part of our review shows how to log in to your credit card account now.
- First of all, you have to open the website of this credit card by clicking on the following button:
- On the right side of that webpage, you will get to see several forms. So, the upper form is the actual Surge MasterCard login form you should use it to access your account.
- At first, you should enter your username in the first field.
- Following it, you have to type the password in the next field.
- Eventually, you should click on the Submit button.
- If you have done everything right, you will access your account in a moment. Then, you will be able to manage it in a way you want.