The Surge Mastercard® is a credit card designed for individuals who may be looking to establish or rebuild their credit.
With an easy application process and no security deposit required, it offers a flexible option for those who need to demonstrate responsible credit management.
This card comes with an annual fee, but it provides access to a revolving line of credit and the potential to earn credit increases with responsible use.
About the Issuer
The Surge Mastercard® is issued by The Bank of Missouri, a financial institution known for providing accessible credit solutions.
With a focus on helping individuals build or improve their credit profiles, The Bank of Missouri has created a variety of credit cards to cater to consumers with different financial needs.
The Surge Mastercard® is just one example of their commitment to accessible, responsible lending.
Who Is This Card For?
The Surge Mastercard® is ideal for:
- Individuals with Limited or Poor Credit: People looking to establish or rebuild their credit score without the need for a security deposit.
- Those Seeking Credit Flexibility: Users who want a revolving line of credit with the potential for credit limit increases.
- Consumers with a Low Credit Score: Ideal for those who may have been denied other credit cards due to their credit history.
This card is best suited for individuals who are starting their credit journey or those who have been rebuilding their credit and want a way to demonstrate positive credit behavior.
Advantages of the Surge Mastercard
The Surge Mastercard® offers several key advantages:
- Reports to Major Credit Bureaus: This card reports to all three major credit bureaus (Experian, Equifax, and TransUnion), helping users build or rebuild their credit with responsible use.
- No Security Deposit Required: Unlike many cards for people with poor credit, there’s no need to put down a security deposit to open your account.
- Credit Limit Increases: Responsible cardholders may be eligible for credit limit increases over time, which can further enhance their credit profile.
- Worldwide Acceptance: As a Mastercard, this card is accepted anywhere Mastercard is accepted, offering broad usability both domestically and internationally.
- Credit Protection Tools: The card offers access to fraud protection and identity theft monitoring, providing peace of mind for cardholders.
Additional Benefits
The Surge Mastercard® also includes:
- Fraud Protection: The card includes protection against unauthorized transactions, ensuring peace of mind when using the card for purchases.
- Online Account Management: Easily manage your account online or through a mobile app, with the ability to view your balance, make payments, and track your credit progress.
- Cash Advance Access: While cash advances come with fees and high interest rates, the Surge Mastercard® allows access to cash from ATMs, offering flexibility when needed.
Why Choose the Surge Mastercard?
The Surge Mastercard® stands out due to its accessibility for individuals with less-than-perfect credit.
The ability to build or rebuild credit without the need for a security deposit makes it an appealing option for many.
Additionally, the opportunity to receive credit limit increases for responsible usage is a key feature that supports long-term credit growth.
Is This Card Right for You?
The Surge Mastercard is right for you if:
- You are looking to establish or rebuild your credit.
- You need a card that doesn’t require a security deposit to get started.
- You want the potential for credit limit increases as you demonstrate responsible card usage.
- You’re comfortable with paying an annual fee in exchange for a credit-building opportunity.
How to Use the Surge Mastercard Effectively
To make the most of the Surge Mastercard®, follow these strategies:
- Pay On Time: Always make your payments on time to avoid late fees and to build a positive credit history.
- Keep Utilization Low: Aim to keep your credit utilization rate below 30% to show responsible credit management.
- Request Credit Limit Increases: After demonstrating responsible use, request a credit limit increase to improve your credit score.
- Monitor Your Credit: Use online tools to track your credit progress and ensure your score is improving over time.
Fees and charges
● Introductory APR: 35.90%;
Expert review
The Surge Mastercard is a secured credit card designed to help individuals build or rebuild their credit.
It reports to all three major credit bureaus, essential for improving credit scores.
The card requires a refundable security deposit, which acts as the credit limit, making it a low-risk choice.
It also offers online account management for easy tracking.
However, it has a high APR and lacks rewards or additional benefits, making it less appealing for users with established credit profiles.
You will remain on this site
+Positive points
- Credit-building potential: Reports to all three major credit bureaus, helping users improve their credit score.
- Accessible approval: Ideal for individuals with poor or no credit history.
- Refundable security deposit: The deposit serves as your credit limit and can be returned if the account is closed in good standing.
- Flexible credit limit: Credit limits can increase over time with responsible use.
- Online account management: Easy access to monitor spending and make payments through the online portal.
- Negative points
- High APR: The card has a high interest rate, making it costly to carry a balance.
- Annual fee: Comes with an annual fee, which adds to the cost of ownership.
- No rewards program: Lacks cashback, points, or other perks, limiting its value beyond credit building.
