NerdUp by NerdWallet Credit Card: Earn 1% Cash Back

In-Depth Review: NerdUp by NerdWallet Credit Card

The NerdUp by NerdWallet is a credit card designed to help build credit. NerdWallet is a financial comparison site that offers advice on credit card rewards, personal loans, and other financial topics. The site typically rotates around Prime and Super-Prime credit cards, so the abrupt shift towards subprime is odd – but keeping with a growing trend of websites and financial services companies offering white-label credit cards – with the NerdUp issued through Evolve Bank & Trust.

Hundreds of secured credit cards are on the market today, so should you “Turn to the Nerds” for your credit-building journey? Let’s find out:

NerdWallet Account Required

Applying for the NerdUp Card requires an active NerdWallet account. A NerdWallet account is free to sign up for and provides many features on other websites and resources, including the chance to check your credit score and the ability to link your credit cards to see your full financial picture – including cash flow and credit utilization.

No Credit Check Needed

The NerdUp credit card is like many secured credit cards in that no credit check is needed to apply. Instead, the application requires what is known as a “know your customer” check to comply with government regulations. The application process is simple, requiring:

• Full name
• Full U.S. address
• Phone number
• Social Security Number (SSN)
• Employment status
• Income

Once this information is provided, applicants can submit their application. Remember that just because you have provided all the required information doesn’t mean you will get approved for the NerdUp by NerdWallet. No credit card is guaranteed approval; things like your income can lead to rejection.

Once approved, you’ll need to submit a security deposit. This deposit acts as a line of credit, with initial deposits starting at only $100. You can add money at any time to increase your credit line to a maximum of $10,000. You will receive your full deposit back (minus any outstanding charges) once you close your NerdUp Card account.

Earn 1% Cash Back While Building Your Credit

The NerdUp by NerdWallet Secured Cards is the latest in subprime credit cards that offer basic cash back rewards on all eligible purchases. NerdUp cardholders will earn 1% back on all eligible purchases made with the card – with cash back rewards applicable towards statement credit on your account. What purchases are ineligible for rewards? Here is a list of transactions that won’t earn you 1% back:

However, the main focus of the card is building credit. Building credit takes time, persistence, and the right advice. Here are some of the basics of building credit and establishing a positive credit history with on-time payments:

The NerdUp Card is a charge card, meaning there are no interest charges to worry about. This means the card automatically syncs to an associated debit or checking account, repaying itself as you make purchases. The upside to this is that you never have to worry about missing a payment. 

Credit-Builder Credit Card Comparison

The NerdUp Card is similar to another credit-building option, the Zolve Azpire Credit Builder Card from Community Federal Savings Bank. That card requires a dedicated checking account as the security deposit funding line. Still, it operates like NerdUp, earning the same 1% cash back on all eligible purchases. While the card is, in essence, a debit card – and not a secured card –Zolve does provide the ability to upgrade to an unsecured Zolve Credit Card in as little as four months.

Here’s how NerdUp compares with other secured rewards cards:

	NerdUp by NerdWallet	Current Build Card	Zolve Azpire Credit Builder
Credit check?	No	No	No
Annual fee	$0	$0	$0
Reports to credit bureaus?	Yes	Yes	Yes
Rewards	Unlimited 1% cash back on all eligible purchases	Up to 7X points on purchases with over 14,000 merchants	Unlimited 1% cash back on all eligible purchases

No Credit Check Comparisons

Another close competitor for the NerdUp Mastercard secured card is the OpenSky® Plus Secured Visa®. This secured card also features a $0 annual fee and no credit check. OpenSky offers a few credit cards (including the original OpenSky® Secured Visa®) – with Plus Visa cardholders having the chance to graduate to an unsecured OpenSky Gold Visa in as little as six months (with on-time payments. Unlike the NerdUp, however, OpenSky does not provide cash back rewards.

	NerdUp by NerdWallet	OpenSky® Plus Secured Visa®	Self Visa®
Annual Fee	$0	$0	$25
Min. Deposit	$100	$200	$100
Network	Mastercard	Visa	Visa

No Hidden Fees

The NerdUp Card positions itself as a “no hidden fees” credit card, meaning there is no annual fee and no application or account management fees. Despite this, there are costs associated with the card. For example, there are fees for ATM withdrawals, cash advances, returned payments, or late payments.

World Mastercard Features

The NerdUp by NerdWallet Secured Card offers enhanced Mastercard protections through the World Mastercard network.

Evolve Bank & Trust Ratings

How does the Evolve Bank & Trust, the NerdUp Card issuer, stack up? Here is a selection of expert reviews for the bank and its cards:

Should You Apply for the NerdUp by NerdWallet Card?

The subprime credit card market is chock-full of new offers, including co-branded efforts by Current, Zolve, OneMain, Experian, and more. Now, NerdWallet is getting into the act with its NerdUp World Mastercard.  But is the card worth considering?

Any secured credit card with no hidden fees is a decent option. That’s because of no hidden fees – charges for things like late payments, returned payments, and annual fees – can save you significant money over time. Adding 1% cash back to the bargain makes things even sweeter, letting you build credit and pay off your balance simultaneously.

That’s not to say it is clear sailing with the NerdUp Mastercard. There is no graduation path, for instance – something that cards from Merrick Bank, Mission Lane, and even OpenSky all offer a path to credit growth – whether it be doubling your credit line or graduating to unsecured credit. This lack of forward momentum is frustrating and may turn many off from applying. Ultimately, however, their NerdUp Card is a robust, secured card that can help those who are dedicated to NerdWallet – and credit improvement.