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Deserve Classic Mastercard Review

Deserve Classic Mastercard Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jul 18, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

  • Build a positive credit history with responsible use

  • Pay no foreign transaction fees and get a Refer a Friend bonus

  • Price Protection, Travel Assistance, Extended Warranty & more

Highlights
  • No Annual Fee
  • Start building credit now (for people with No/Limited Credit or Good Credit)
  • No Foreign Transaction Fees
  • Cellphone protection up to $600 when you pay your monthly phone bill with your Deserve Mastercard
  • Mastercard Platinum benefits

See additional details for Deserve® Classic Mastercard

More Info

Who the card is best for

If you have fair/good credit or no credit, the Deserve® Classic Mastercard may be a good choice since it doesn’t require a prior credit history and provides the chance to build credit. However, beware of the $0 annual fee. If you want to avoid annual fees, look at secured cards with no annual fee or if you have excellent/good credit or no credit check out the Deserve® Pro Mastercard with a $0 annual fee or other no annual fee credit cards.

Where this card stands out in its category

Upgrade to a cashback Deserve® card when you practice good credit behavior. Deserve states that you have to opportunity to upgrade to another Deserve credit card — the Deserve® Pro Mastercard or the Deserve® Edu Mastercard for Students — when you practice good credit behavior.

No prior credit history required. Many unsecured credit cards require a certain credit range like fair, good or excellent to qualify, but not the Deserve® Classic Mastercard. You have a chance to qualify with fair/good credit or no credit.

Where this card falls short in its category

$0 annual fee. This card comes with a $0 annual fee. That isn’t high compared with other cards that can have annual fees up to $550, but this may be an issue if you’re just beginning your credit journey and may not have the funds available for an annual fee. Also, there are no rewards offered to cushion the impact of the fee.

No rewards program. Your goal with this card should be to build a good credit score, however you may want to do so while earning rewards. If that’s the case, the two other Deserve® cards offer rewards as do many other cards, whether they’re secured cards or other cards for limited/no credit.

Additional card benefits

The Deserve® Classic Mastercard has several added perks:

  • Cellphone protection*: When you pay you monthly cellphone bill with your card, you receive reimbursement up to $600 for theft or damage of your cellphone.
  • Car rental collision damage waiver*: With Master Rental®, you may receive coverage for damage and theft to your eligible car rental.
  • Travel assistance services*: Receive legal referrals, medical assistance and more when you travel over 50 miles from home.
  • Roadside assistance*: If your car breaks down, you can call 1-800-Mastercard for towing services. Note, you’re responsible for the cost of services.

*You must use your card to qualify for these services. Terms apply.

How to use it most effectively

Since you’re most likely new to credit or have limited credit, follow these credit building tips:

  • Pay on time and in full. The most important factor — comprising 35% — of your credit score is payment history. This is defined as when you make payments and whether those payments are made in full or partially. It’s key to always pay your bill on time and in full so you avoid late payment fees, penalty APRs and interest charges.
  • Maintain a low utilization rate. Your utilization rate is simply the amount of credit you use divided by your total credit. For example, if you have a $500 credit limit and spend $150, your utilization is 30%. We recommend maintaining a utilization rate of 30% or less.

Compare it with the Deserve® Pro Mastercard

A good alternative for people looking to earn rewards is the Deserve® Pro Mastercard.

The Deserve® Pro Mastercard has a $0 annual fee and offers a cashback program where you can earn 3% on travel/entertainment, 2% on restaurants & 1% on all other purchases. That’s compared with the Deserve® Classic Mastercard with a $0 annual fee and lack of a rewards program. Plus, if you need a fairly large credit limit, the Deserve® Pro Mastercard is a better choice since credit limits are up to $10,000, meanwhile the Deserve® Classic Mastercard only has limits up to $1,500, depending on your creditworthiness.

However, if you don’t have an established credit history, you may have better odds qualifying for the Deserve® Classic Mastercard since the application states “no prior credit history required.” The Deserve® Pro Mastercard states it’s for people with “established credit” and more specifically excellent/good credit or no credit.

Here’s a breakdown of the key features of each card:

Deserve® Classic Mastercard Deserve® Pro Mastercard
Annual Fee $0 $0
Regular Purchase APR 24.74% Variable 17.74% - 24.74% Variable
Rewards None 3% on travel/entertainment, 2% on restaurants & 1% on all other purchases
Foreign Transaction Fee None None

Bottom line

If you’re looking to build credit and can reason the $0 annual fee, the Deserve® Classic Mastercard provides you the basis to start your credit journey as well as the opportunity to be upgraded to one of its rewards cards if you practice good credit behavior.


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