Key takeaways
- The Surge Platinum Mastercard offers the opportunity to double your credit limit from $1,000 to $2,000 after just six months of on-time payments.
- This card helps build or rebuild credit by reporting to all three major credit bureaus.
- You get your VantageScore 3.0 for free every month so you can track your credit building progress.
If you’re on the hunt for a credit card that doesn’t require a perfect credit score, the Surge Platinum Mastercard may be the one for you. Not only can you easily qualify for the card regardless of your credit rating, but it can also help you build or rebuild your score.
Unlike most cards designed for people with poor or limited credit, the Surge Platinum Mastercard is unsecured, meaning you don’t have to put down a security deposit to obtain it. Instead, you receive a high credit limit of up to $1,000, which can double within just six months. The card also offers monthly reporting to all three major credit bureaus, and you get the buying power of Mastercard. Intrigued?
Let’s delve further into what the Surge Platinum Mastercard has to offer and determine if it is the right card for you.
What we like about Surge Platinum Mastercard
Discover the Credit Card That Welcomes All
The Surge Platinum Mastercard is designed to be inclusive. It welcomes applicants from all credit backgrounds, including those with limited or poor credit histories. Unlike many other credit cards that have stringent approval criteria, the Surge Platinum Mastercard considers applicants who have been previously denied due to their poor credit scores. This card provides a valuable opportunity for individuals to access credit and work towards improving their financial standing.
Moreover, the Surge Platinum Mastercard does not require a security deposit, making it an excellent choice for those who may not have the funds to secure a traditional secured credit card. With a credit limit of up to $1,000, which can potentially double after just six months of responsible usage, cardholders have a significant opportunity to demonstrate their creditworthiness.
Surge Platinum Mastercard provides a supportive and inclusive option to help you achieve your financial goals.
Get an Initial Credit Limit of up to $1,000!
The Surge Platinum Mastercard offers an initial credit limit ranging from $300 to $1,000, subject to your available credit. This is an impressively high initial credit limit for a card specifically designed for individuals with bad credit or limited credit histories. Having access to a high limit is a significant advantage, especially for those looking to rebuild or establish their credit profile.
A higher credit limit can positively impact your credit score by helping you maintain a low credit utilization ratio. Your credit utilization ratio is how much of your available credit you use. Experts recommend keeping it below 30% in order to get a high credit score. When you have a limit of $1,000 this is much easier to do. You get the flexibility to make necessary purchases without maxing out your card, which helps keep your credit utilization in check.
A higher credit limit can also aid in managing your finances more effectively. It allows you to handle unexpected expenses or make essential purchases without resorting to high-interest loans or other costly financial products.
Credit Limit May Double After Six Months
One of the standout features of the Surge Platinum Mastercard is its potential for a credit limit increase after just six months. Your credit limit can double from the initial amount, reaching up to $2,000! This increase is contingent on making your first six monthly payments on time. By demonstrating responsible credit behavior, you unlock this valuable perk.
A higher credit limit offers multiple advantages. Firstly, it grants you greater purchasing power, enabling you to make larger or more frequent purchases without worrying about exceeding your limit. This can be particularly beneficial for managing unexpected expenses or making important, high-cost purchases.
Secondly, a higher credit limit helps maintain a low credit utilization ratio. By increasing your credit limit to $2,000, you have more available credit, which can help you keep your utilization ratio low even if your spending increases slightly. A lower credit utilization ratio generally leads to a higher credit score, as it indicates to creditors that you are managing your credit responsibly.
Moreover, an increase in your credit limit reflects positively on your credit report, showcasing your ability to handle higher credit lines responsibly. This can make you more attractive to lenders for future credit applications, such as loans or mortgages.
Reports to All Three Major Bureaus
When you’re building or rebuilding credit, it is crucial that your responsible card usage is recognized by the credit reporting agencies. The Surge Platinum Mastercard reports your credit activity to all three major credit bureaus: TransUnion, Equifax, and Experian. This comprehensive reporting ensures that your positive credit behaviors are reflected in your credit reports and, therefore, your scores.
Improved my Credit
“This is probably the best choice to boost your score after a bankruptcy over a steady period of time. It starts you off with a small manageable amount of credit. After a year they can increase it up to 2300 depending of your credit maintenance and if you make your payment on time. It does have a yearly fee of 75$ which is more than manageable. I recommend you get into a routine with it and don’t overspend. I used it for gas and then paid it off in full every month. Score went from 430 to 710 in 2 years of steady use and on time payments. If I ever am in need again of helping my credit score rise you bet Continental Finance and Surge Master card will be my first choice to help me achieve my goal.” Alma Tejeda, Trustpilot ReviewRegularly reporting to these bureaus means that every on-time payment you make and every effort to keep your credit utilization low are documented and contribute to a better credit profile. As you consistently use your card responsibly, paying off balances on time and keeping your credit utilization below 30%, you should begin to see a gradual improvement in your credit score.
Prequalify for Instant Credit
You can easily prequalify for the Surge Platinum Mastercard. Prequalification is a valuable step as it gives you an idea of your likelihood of approval before you formally apply. This process involves a soft credit check, which does not affect your credit score, allowing you to explore your options without any risk to your credit.
Prequalifying for the Surge Platinum Mastercard is straightforward and quick. By filling out a simple online form, you can receive an instant decision about your eligibility. This helps you make an informed decision about whether to proceed with the full application. Knowing you have a good chance of approval can save you from the potential disappointment and negative impact of a hard inquiry that typically comes with traditional credit card applications.
When you’re ready to apply, the process is efficient and user-friendly. The online application is designed to be fast, allowing you to complete it in minutes. Once submitted, you will receive an approval decision within seconds, providing you with immediate clarity about your credit status.
New
Accepted Around the World
The Surge Platinum Mastercard is backed by the globally recognized Mastercard network. This extensive network ensures that your card is accepted at millions of locations worldwide, from local shops to international retailers, online marketplaces, restaurants, hotels, and more. Whether you are making everyday purchases, traveling domestically, or venturing abroad, the Surge Platinum Mastercard provides the flexibility and reliability you need.
Moreover, the card’s affiliation with Mastercard means you benefit from Mastercard’s robust security features and customer service support, which adds an extra layer of protection and peace of mind when using your card internationally. In the event of lost or stolen cards, or fraudulent transactions, Mastercard’s assistance services can provide prompt and effective support, ensuring your finances remain secure.
Get Your Credit Score for Free
As a Surge Platinum Mastercard cardholder, you’ll enjoy the valuable benefit of free monthly access to your Vantage 3.0 score from Experian. This feature is particularly advantageous for those who are building or rebuilding their credit, as it allows you to regularly monitor your score without any additional cost. By having monthly access to your credit score, you can track your progress over time, observe how your financial behaviors impact your credit, and make informed decisions to improve your credit health.
Monitoring your credit score is an essential part of managing your financial well-being. With the Vantage 3.0 score, you get a comprehensive view of your credit status, which is updated monthly. This consistent access provides you with timely insights into changes in your credit profile, helping you identify any discrepancies or areas that need improvement.
Mastercard’s Zero Fraud Liability Promise
With the Surge Platinum Mastercard, you benefit from Mastercard’s Zero Fraud Liability Protection, a vital security feature that provides peace of mind in your daily financial transactions. This protection ensures that you are not held responsible for unauthorized transactions made on your card. In the unfortunate event that your card is lost, stolen, or used fraudulently, you can report the suspicious activity promptly and rest assured that you won’t have to pay for those unauthorized charges.
Whether you are making purchases online, at a store, or while traveling, you can trust that any fraudulent transactions will be addressed without placing a financial burden on you. This protection not only secures your money but also helps maintain your credit integrity by preventing fraudulent charges from affecting your credit utilization ratio and payment history.
Reporting fraudulent activity is straightforward and efficient. As soon as you notice any unauthorized transactions, you can contact Mastercard’s customer service for immediate assistance. They will guide you through the process of securing your account, investigating the fraud, and issuing a replacement card if necessary. This quick response minimizes the impact of fraud on your financial life and ensures that you can continue using your card without undue stress.
What to watch out for with Surge Platinum Mastercard
Surge Platinum Mastercard’s High APR
The Surge Platinum Mastercard has a high APR of 29.99%, which varies depending on the market. This higher-than-average APR is typical for credit cards aimed at consumers with bad to limited credit, as these cards carry more risk for the issuer. While the APR is high, you can avoid it by paying your balances in full each month.
When you pay your full balance by the due date, you won’t incur any interest, allowing you to benefit from the card’s features without the added cost of high interest. This practice not only helps you avoid unnecessary fees but also fosters good credit habits that can improve your credit score over time.
Use the card primarily for necessary purchases, keep your credit utilization low, and ensure timely payments to help you mitigate the impact of a high APR. Over time, as you demonstrate responsible credit usage, you may become eligible for cards with lower interest rates and better terms.
Monthly and Annual Fees
The Surge Platinum Mastercard comes with an annual fee ranging from $75 to $125 and a monthly maintenance fee of up to $10, which is waived for the first year. These fees are quite common among credit-builder cards, reflecting the cost of providing credit services to individuals with poor or limited credit histories. While these fees might seem burdensome, they are often seen as an investment in rebuilding or establishing your credit profile.
Understanding these fees is essential when choosing a credit-builder card. The annual fee ensures that you have access to the card’s benefits, such as reporting to all three major credit bureaus, a potential credit limit increase, and Mastercard’s Zero Fraud Liability Protection. These features can significantly aid in improving your credit score over time, making the annual fee a worthwhile expense for many users.
The monthly maintenance fee, which starts after the first year, covers the ongoing costs of managing your account. Although it might feel like an additional burden, it’s important to consider it as part of the overall strategy to rebuild your credit. By using the card responsibly and maintaining on-time payments, the investment in these fees can lead to better credit offers in the future with lower or no fees and better terms.
No Rewards or Bonuses
The Surge Platinum Mastercard does not offer a rewards program or a sign-up bonus, which is typical for credit cards designed for individuals with poor to limited credit. While some might view this as a disadvantage, it’s essential to understand the primary purpose of credit-builder cards: to help users establish or rebuild their credit history.
Rewards programs and sign-up bonuses are generally reserved for credit cards aimed at consumers with good to excellent credit. These users pose less risk to lenders and are more likely to benefit from such incentives. For those with limited or damaged credit, the focus should be on responsible credit use and improving their credit score rather than earning rewards.
Bottom Line
If you have limited to poor credit and are seeking an unsecured credit card, the Surge Platinum Mastercard may be an excellent choice for you. This card is specifically designed to help individuals build or rebuild their credit with responsible usage. One of its significant advantages is the high initial credit limit, which can range from $300 to $1,000 and has the potential to double after just six months of on-time payments. This feature provides you with greater purchasing power and helps maintain a low credit utilization ratio, both of which are beneficial for your credit score.
Additionally, the Surge Platinum Mastercard reports all your payments to the three major credit bureaus—TransUnion, Equifax, and Experian. This consistent reporting is crucial for building a positive credit history, as it ensures that your responsible financial behaviors are recognized and reflected in your credit score over time.
Before applying for the card, it’s important to consider fees, including the high APR of 29.99%, annual fee, and monthly maintenance fee (waived for the first year). These costs can add up, so it’s essential to ensure that you can manage them.
Despite these drawbacks, the Surge Platinum Mastercard offers a valuable opportunity for consumers to build their credit. By using the card responsibly, paying off balances in full each month, and taking advantage of its credit-building features, you can improve your credit profile and work towards achieving better financial health. Overall, the Surge Platinum Mastercard is a practical option for those in need of a supportive tool to establish or enhance their credit standing.
