Surge Mastercard® Credit Card: A Comprehensive Overview and How to Apply

The Surge Mastercard® Credit Card is designed to provide credit access to individuals with less-than-perfect credit histories, offering them an opportunity to rebuild or establish credit. This card is particularly appealing to those who have been turned down by other lenders due to a poor or limited credit history. Below, we’ll explore the key features of the Surge Mastercard®, its benefits, potential drawbacks, and the application process.

Key Features of the Surge Mastercard® Credit Card

1. Credit Building Opportunity
   • The primary appeal of the Surge Mastercard® is its accessibility to those with bad or fair credit. The card reports to all three major credit bureaus—Experian, Equifax, and TransUnion—enabling cardholders to build or rebuild their credit over time. Consistent, on-time payments can help improve your credit score, making it easier to qualify for better credit offers in the future.
2. Initial Credit Limit
   • The Surge Mastercard® offers an initial credit limit ranging from $300 to $1,000. This range may not be as high as other cards, but it provides a starting point for those looking to establish credit. After six months of responsible card usage, cardholders may be eligible for a credit limit increase, further enhancing their credit-building efforts.
3. Annual Fee
   • The card comes with an annual fee that can range from $75 to $99 during the first year, depending on your creditworthiness. In subsequent years, the fee can go up to $99. While this fee may seem high compared to other cards, it’s essential to weigh this cost against the potential benefits of improving your credit score.
4. Monthly Maintenance Fee
   • After the first year, a monthly maintenance fee of up to $10 may be assessed, which adds up to $120 annually. This fee is waived during the first 12 months, giving cardholders time to build credit before incurring additional costs.
5. APR and Interest Rates
   • The Surge Mastercard® has a variable APR that ranges from 24.99% to 29.99%, depending on your creditworthiness. This rate is relatively high, so it’s crucial to pay off your balance in full each month to avoid accumulating interest charges. The card also has a minimum interest charge of $1.00.
6. Security Deposit (Optional)
   • Unlike secured credit cards that require a security deposit, the Surge Mastercard® does not require one, making it more accessible to individuals who may not have the funds to secure a deposit. However, for those who prefer to secure their line of credit, a deposit option is available.
7. Fraud Liability
   • Cardholders are protected with $0 fraud liability, meaning you won’t be held responsible for unauthorized charges if your card is lost or stolen. This feature provides peace of mind and security, particularly for those concerned about identity theft.
8. Mobile App Access
   • The Surge Mastercard® offers a mobile app that allows cardholders to manage their account on the go. The app enables users to make payments, check their balance, view transactions, and set up alerts. This level of accessibility is convenient for those who prefer to manage their finances digitally.
9. Customer Service
   • The card offers 24/7 customer service, ensuring that assistance is available whenever you need it. Whether you have questions about your account or need help with a transaction, customer support is just a phone call away.

Benefits of the Surge Mastercard® Credit Card

1. Easy Application Process
   • The Surge Mastercard® has a straightforward online application process that typically takes only a few minutes to complete. The card is accessible to those with poor or limited credit, making it a viable option for individuals looking to improve their credit score.
2. Pre-Qualification Without Impacting Your Credit Score
   • Potential applicants can see if they pre-qualify for the Surge Mastercard® without impacting their credit score. This pre-qualification process involves a soft credit inquiry, which doesn’t affect your credit score. This feature is beneficial for those who want to gauge their chances of approval before formally applying.
3. Credit Limit Increases
   • After six months of responsible usage, cardholders may be eligible for a credit limit increase. This increase can help improve your credit utilization ratio, which is a significant factor in your credit score. A lower credit utilization ratio can positively impact your credit score over time.
4. Flexible Payment Options
   • The card allows for flexible payment options, including online payments, payments via the mobile app, or by mail. This flexibility ensures that you can manage your account in the way that best suits your needs.
5. Potential to Graduate to Better Cards
   • By using the Surge Mastercard® responsibly and improving your credit score, you may eventually qualify for better credit cards with lower interest rates and higher credit limits. This card can serve as a stepping stone toward more favorable credit options.

Drawbacks to Consider

1. High Fees
   • The Surge Mastercard® comes with several fees, including an annual fee, potential monthly maintenance fees, and a high APR. These costs can add up, particularly if you carry a balance from month to month. It’s important to weigh these fees against the benefits of credit building.
2. No Rewards Program
   • Unlike some credit cards, the Surge Mastercard® does not offer a rewards program. This means you won’t earn points, cash back, or travel rewards on your purchases. If rewards are a priority for you, this card may not be the best fit.
3. Limited Benefits
   • While the card provides basic credit-building tools and security features, it lacks many of the perks associated with other credit cards, such as travel insurance, purchase protection, or concierge services.

How to Apply for the Surge Mastercard® Credit Card

The application process for the Surge Mastercard® Credit Card is simple and can be completed online. Here’s a step-by-step guide to help you through the process:

1. Pre-Qualification
   • Before applying, you can see if you pre-qualify for the card by visiting the official Surge Mastercard® website. The pre-qualification process involves a soft credit check, which does not affect your credit score. You’ll need to provide basic information, such as your name, address, income, and Social Security number.
2. Review the Offer
   • If you pre-qualify, you’ll receive an offer that outlines your potential credit limit, APR, and fees. It’s important to review this offer carefully to ensure it meets your needs and financial situation.
3. Complete the Application
   • If you decide to proceed, you can complete the full application online. This step involves a hard credit inquiry, which may temporarily lower your credit score. You’ll need to provide additional information, such as your employment details and financial obligations.
4. Wait for Approval
   • After submitting your application, you’ll typically receive a decision within minutes. If approved, you’ll receive your Surge Mastercard® in the mail within 7 to 10 business days.
5. Activate Your Card
   • Once you receive your card, you’ll need to activate it by following the instructions provided. You can then begin using your card for purchases, keeping in mind that responsible usage is key to building your credit.

Final Thoughts

The Surge Mastercard® Credit Card is a solid option for individuals with bad or fair credit who are looking to rebuild their credit history. While the card comes with several fees and lacks a rewards program, its ability to report to all three major credit bureaus and offer credit limit increases can be valuable tools in improving your credit score. Before applying, it’s essential to consider the costs and benefits to determine if this card aligns with your financial goals.