Surge Mastercard Credit Card Review : The Best Way to Build Your Credit?

Are you looking for a new credit card to help rebuild your credit? If so, the Surge Mastercard Credit Card may be the perfect option for you. This card comes with a range of features that can help you manage your finances and build your credit history.

In this Surge Mastercard Credit Card review, we’ll take a closer look at the features and benefits of this card to help you decide if it’s the right choice for you.

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Introduction

The Surge Mastercard® Credit Card is an unsecured credit card that’s specifically targeted at those with limited or poor credit. One of the key benefits of this card is that it has the potential to help you improve your credit score.

The Surge Mastercard® Credit Card reports your monthly payments to the three major credit bureaus, which can then be used to help boost your credit score. Moreover, you may be eligible for an increased credit limit after six months of timely payments. 

While the Surge Mastercard® Credit Card can be a helpful tool for building credit, it doesn’t come with any rewards or perks.

Therefore, once your credit improves and you qualify for better offers, this isn’t a card you’ll want to keep in your wallet.

Nevertheless, if you’re currently working on rebuilding your credit, the Surge Mastercard® Credit Card could be a helpful option to consider.

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Quick facts

• The Surge Mastercard Credit Card is a great way to improve your credit score, with a $1,000 credit limit that doubles to $2,000 after making your first six monthly payments on time.
• You also get free access to your Vantage 3.0 score from Experian when you sign up for e-statements.
• The Surge Mastercard Credit Card reports monthly to the three major credit bureaus, which can help improve your credit score.
• The application process is fast and easy, and you can get results in seconds.
• You can use your Surge Mastercard Credit Card anywhere Mastercard is accepted.
• It has an initial credit limit of $300 – $1,000* (subject to available credit limit,) and does not require a security deposit. 
• You can also qualify with bad credit.
• The card has a $0 monthly fee for the first 12 months and then a $10 per month fee starting the second year, which is waived for those with either a 750 or 1,000 dollar credit limit. 
• The card also comes with free online account access 24/7 but Surge Mastercard requires that you have a checking account.
• However, there are no rewards or intro APR on purchases with this card. Additionally, balance transfers are not allowed.

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Pros and Cons

Let us look at some pros and cons of the Surge Mastercard Credit Card.

Pros:

• No security deposit required
• Can help improve your credit score
• Report your credit to major credit bureaus monthly
• Free online account access 24/7
• You can get a credit limit of up to $1,000
•  Qualify for a higher credit limit after six months of usage

Cons:

• No rewards or intro APR on purchases
• $10 monthly fee after the first year
• Requires a checking account

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“Should I Get A Surge Mastercard® Credit Card ?”

This section will give you the information you need to decide if the Surge Mastercard Credit Card is right for you. Here are some card benefits to consider:

#1. Qualify with bad credit

Most people with bad credit don’t think they can qualify for a credit card, let alone a good one. But the, Surge Mastercard®’s credit card is different.

Not only does it offer an opportunity for applicants with bad credit to get approved, but it also comes with plenty of great benefits.

So if you’re considering getting a credit card, the Surge Mastercard® should be at the top of your list.

#2. Does not require a security deposit

Another great thing about the Surge Mastercard® is that it doesn’t require a security deposit. This means you won’t have to put down any money upfront to get the card, which is a huge plus.

Not to mention, plenty of other credit cards out there require a security deposit, so this is definitely a perk that sets the Surge Mastercard® apart from the competition.

#3. Reported to credit bureaus

Another great feature of the Surge Mastercard® is that it reports to the credit bureaus. This means that if you use the card responsibly and make your payments on time, you could significantly increase your credit score over time.

This huge benefit can help you in the long run, especially if you’re looking to improve your credit.

#4. High credit limit

One of the best things about the Surge Mastercard® is its high credit limit. With a limit of $1,000, you’ll have plenty of room to spend and still keep your balance under control.

You can also qualify for a higher credit limit after six months of responsible use.

This is a great feature for those looking to build their credit and who don’t want to worry about maxing out their card.

#5. Online account access

Another great benefit of the Surge Mastercard® is that it comes with free online account access. This means that you’ll be able to check your balance, make payments, and see your transaction history whenever you want.

This is a great feature for those who like to keep track of their spending and want to be able to do so from anywhere.

#6. Free access to your Vantage 3.0 score From Experian

As a cardholder, you’ll also have free access to your Vantage 3.0 score from Experian. This is a great benefit that can help you keep track of your credit and see how it’s improving over time.

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Why should you not get the Surge Mastercard Credit Card?

There are a few reasons why you might not want to get the Surge Mastercard Credit Card. Let’s take a look at some of those now:

#1. High fees and fees

There are many reasons you might not want to get the Surge Mastercard®, but the fees are one of the biggest. The card charges an annual fee ranging from $75 to $99, with no clear explanation of how they choose the fee within that range.

On top of that, after your first year, the card also charges a monthly maintenance fee of up to $120 per year. And if you want to add an authorized user to the account, there is also a one-time fee of $30 per authorized user.

So unless you’re confident you can use the card enough to offset those fees, you might want to look elsewhere.

#2. Very High-Interest rate

The Surge Mastercard® Credit Card is not recommended for users because of its very high-interest rate. The card charges a variable 25.90% to 29.99% APR on purchases, which is significantly higher than the average APR for starter credit cards.

If approved for the card, it is recommended that users do not carry a balance, as interest charges can accumulate quickly at this high rate. The credit card also comes with a 25-day grace period from closing your last billing cycle to paying off your statement balance without interest charges.

However, if you do not pay off your statement balance in full within this grace period, you will be charged interest on the remaining balance from the date of purchase.

#3.Upgrade to an unsecured Credit Card that isn’t guaranteed

For many people, a secured credit card is a great way to build or rebuild credit. But what happens when you’re ready to move on to an unsecured card? With the Surge Mastercard®, there’s no telling.

The card issuer, Continental Finance, states in the card agreement that it will review your account after six months to get a credit limit increase.

However, there’s no mention of how or when the card might be upgraded from a secured to unsecured status. This leaves cardholders in limbo, wondering if they’ll ever be able to access higher credit limits or automatic credit line increases – benefits typically available with unsecured cards.

If you’re looking for an unsecured credit card, it’s best to choose one that offers clear guidelines about how and when you can expect to qualify for an upgrade. With the Surge Mastercard®, you may be left guessing.

#4. Requires a checking account

The Surge Mastercard® requires that you have a checking account to qualify for the card. This is inconvenient for those who don’t have a checking account or prefer to use another type of account, such as a savings account.

If you don’t have a checking account, you’ll need to open one to be considered for the card. This can be a time-consuming and expensive process, depending on the financial institution you choose.

Additionally, some people prefer not to use a checking account because of the potential for overdraft fees. If you’re careful with their spending and like to avoid these types of fees, the Surge Mastercard® may not be the right choice for you.

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Who is this card ideal for?

The Surge Mastercard is only one option consumers with poor credit have. Consumers should review many other options on the market before signing up for the card.

The main benefit of the Surge Mastercard is that it can help people with bad credit to build credit in the short term.

However, if consumers can build their credit, applying for a more user-friendly card down the road could give them opportunities to earn rewards at a lower interest rate.

Overall, the Surge Mastercard could be helpful for some consumers with poor credit, but it’s important to research all options before signing up.

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The alternative of Surge Mastercard® Credit Card

Are you looking for an alternative to the Bank of Surge Mastercard credit card? If so, you’re in luck! 

Many other credit cards on the market offer similar features and benefits without the high fees and interest rates.

Here are a few of our top picks:

• Indigo® Platinum Mastercard
•  OpenSky® Secured Visa® Credit Card
• Credit One Bank® Platinum X5 Visa
• Citi® Secured Mastercard
•  Capital One Platinum Secured Credit Card
• Petal® 2 Visa® Credit Card:

Let us check the above credit cards one by one:

#1. Indigo® Platinum Mastercard

For people with bad credit, alternative credit cards like the Surge Mastercard® and Indigo® Platinum Mastercard® can provide a second chance to establish or rebuild their credit score.

Both cards are unsecured credit cards, so no cash deposit is required in exchange for a line of credit. The Surge may charge a high annual fee in the first year, while the Indigo card has a $0-$99 annual fee depending on creditworthiness.

However, both cards accept applicants with poor credit and report monthly activity to major bureaus—making either card useful for those needing to rebuild their credit.

Therefore, for consumers looking for an alternative to traditional banking products, these two Mastercards offer an accessible way to improve their financial standing.

#2. OpenSky® Secured Visa® Credit Card

Consumers with poor credit often have a hard time obtaining a credit card. The OpenSky® Secured Visa® Credit Card is an alternative to the Surge Mastercard that requires a refundable security deposit of $200 to $3,000.

The credit line can be increased dramatically compared to the Surge Mastercard, making it more accessible for consumers with poor credit. The annual fee is lower, as is the variable APR.

This makes the OpenSky® Secured Visa® Credit Card a more viable option for consumers with poor credit.

#3. Credit One Bank® Platinum X5 Visa

For consumers with poor credit, the Credit One Bank® Platinum X5 Visa® is a great alternative to the Surge Mastercard®. The Credit One Bank card earns cash-back rewards on eligible purchases, while the Surge Mastercard® does not.

Cardholders can earn 5% cash-back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year (then 1% after that), as well as 1% back on all other purchases.

Both cards offer free credit score reporting, a generous approval rating, and a $0 fraud liability.

The only downside to the Credit One Bank card is its annual fee of $95—but even still, it may be worth it was given the added benefits compared to the Surge Mastercard®, making it a better choice for consumers with poor credit.

#4. Citi® Secured Mastercard

For those looking to build up their credit score, the Citi® Secured Mastercard® is a great option. The credit limit is determined by your deposit amount, from a minimum of $200 up to $2,500 in $100 increments.

Citi has a three-step plan to get you out of credit card debt. Citi may return your initial deposit (eventually) and upgrade you to an unsecured credit card if you pay your credit balance on time each month.

Another distinction between the two is that the Citibank Citi® Secured Mastercard is backed by Citibank, one of the world’s largest credit card providers.

Citibank will be able to establish a relationship with Citibank for those who have the Citi® Secured Mastercard, allowing them to make more use of their credit and potentially strengthen their case for a better credit card from Citi as their score improves.

#5. Capital One Platinum Secured Credit Card

Capital One is one of the alternative credit card companies out there that offer a great product for those with limited or no credit. The Capital One Platinum Secured Credit Card is a great alternative to the Surge Mastercard® Credit Card.

For starters, the Capital One Platinum Secured Credit Card requires a refundable deposit amount of $49, $99 or $200, depending on credit history. So, if you have bad credit, you can still get this card and improve your credit score.

Additionally, the variable APR of 26.99 percent is high, however, all cardholders may be eligible for a higher credit limit in as little as 6 months if they make on-time monthly payments.

Finally, the major benefit of this credit-building card is that there’s no annual fee. So, if you’re looking for an alternative to the Surge Mastercard® Credit Card, the Capital One Platinum Secured Credit Card is a great option.

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What are the Approval odds for the Surge Mastercard?

The approval odds for the Surge Mastercard are very good. In fact, according to a recent study, the card has a 78% chance of being approved. That means that out of every 100 people who apply for the card, 78 will be approved. This is a very good approval rate, especially when you compare it to other credit cards on the market.

The approval odds are so good because the card is meant for people with bad credit. So, if you have bad credit, you still have a good chance of being approved for the card.

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What is the minimum credit score for the Surge Mastercard?

You need a minimum credit score of 300 to qualify for the Surge Mastercard. This is a very low credit score, which means that almost anyone can qualify for the card.

If you have a credit score below 300, you may still be able to get the card, but your approval odds will be lower.

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Conclusion: Is Surge Mastercard worth it?

In conclusion, the Surge Mastercard is an expensive option for consumers due to its high fees. Other cards, including secured credit cards, maybe a better choice for those with bad credit.

The Secured Mastercard from Capital One is one such card; it has no annual fee and offers the potential for an increased credit limit after six months of timely payments.

However, if you can’t qualify for a card with a lower annual fee or don’t have the money to pay a refundable security deposit, the Surge Mastercard can help you establish good credit.