| Last updated on November 14th, 2023
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At a Glance
The Surge Secured Mastercard® is a secured credit card that offers rewards – and the ability to build credit – in one package. The card differs from most secured cards on the market in that it earns 1% cash back rewards on every purchase and can help users build their credit score at most places in the United States where Mastercard is accepted.
Ideal for Those Who:
- Have a limited credit history – or no credit history at all
- Have damaged credit
- Want to earn cash back rewards with every purchase
- Want free access to their credit score every month
Surge® Platinum Secured Mastercard® Review
Secured credit cards are a great way to repair damaged credit and establish a good credit score through on-time payments and responsible credit use. Beyond that, however, there usually isn’t much to offer from a secured card. The Surge Secured Mastercard® is looking to change this rather outdated idea about what a secured card is by changing how consumers use their secured credit card.
Earn 1% Cash Back on Every Eligible Purchase
The Surge Secured Mastercard® offers cardholders 1% cash back on all eligible purchases, making it one of the few cards in the market to provide rewards while building credit. One percent cash back means cardholders earn one cent for every dollar they spend on purchases. For example: spend $100 and get $1 back – not bad for a credit builder card. Cash back rewards apply towards statement credits, which is an excellent feature – and a great way to help pay down the card’s balance.
Refundable Security Deposit
Like other secured credit cards, the Surge Secured Mastercard® requires a security deposit. This deposit acts as the collateral for the account and serves as the line of credit. With the Surge, that refundable security deposit is a minimum of $300. This is on par with other secured card options and makes the card a solid choice for those who want a low rate and a modest initial deposit requirement.
Double Your Credit Line
While the security deposit is refundable, Continental Finance (the card’s issuer) offers the potential for credit limit increases with responsible usage of the Surge Secured Mastercard®. Make your payments on time, keep your credit use in check, and you may receive additional credit – without the need for an additional security deposit.
Continental Finance also issues the popular Surge Mastercard®, an unsecured card for people looking to rebuild their credit. This relationship makes the opportunity for credit limit increases with the Surge Secured Mastercard® the ideal stepping stone from secured to an unsecured credit card.
The Surge Secured Card also provides the opportunity to move from secured credit to unsecured credit thanks to its “double your credit” offer. New accounts can automatically double their credit limit from up to $1,000 to up to $2,000 without the need for an additional security deposit. Simply make at least your first six-monthly minimum payments on time and your initial Credit Limit up to $1,000 doubles up to $2,000.
Monthly Credit Reporting and Free Credit Scores
While cash back rewards are great, a secured card’s actual role is in establishing a positive credit history. This process involves making on-time payments and ensuring you only use the credit you need. Credit use and payment history account for over two-thirds of your FICO score, so these two factors are essential for boosting a subprime credit score.
If you keep those two factors in mind, the Surge Secured Mastercard® makes building credit a snap – thanks to monthly reporting to the three major credit bureaus (Experian, Equifax, and TransUnion). Even better, cardholders have access to their Vantage 3.0 score from Experian free-of-charge when they sign up for e-statements.
Competitive APR on Purchases
Secured cards feature higher-than-average APRs than credit cards for people with good credit. Often, those rates are exceedingly high – well into the mid-20s – but not so with the Surge Secured. That rate sits below 20% for purchases.
The average APR for someone with bad credit is approximately 21.74% – higher than the interest rate that Surge Secured Mastercard® charges cardholders. This makes it an ideal option for someone who wants the versatility to build credit, earn rewards and carry a small balance at the same time.
Other Card Featured
Other notable features of the Surge Secured Mastercard® include:
- A fast, easy application process that takes minutes
- Fast and easy application process, with results in seconds
- Reasonable $69 annual fee
- Ability to use at locations in the United States where Mastercard® is accepted
FAQs About the Surge Secured Mastercard
Here are frequently asked questions about the Surge Secured Mastercard – from applying for the card to receiving it.
- Founded in 2005, Continental Finance Company (“CFC”) is one of America’s leading marketers and
servicers of credit cards for consumers with less-than-perfect credit. The company specializes in
providing access to credit products and services to consumers who are largely overlooked by traditional
credit card issuers and local banks
You’ll need to provide personal information, including your:
Full name
Social Security number
Date of birth
Physical address (No P.O. Box)
Estimated gross monthly income
- No, current product offerings do not allow co-applicants at this time, but you may add an authorized user
during the application process or anytime after your account is opened.
- In most cases, an instant decision is provided. However, in some cases additional information is needed
in order to make a decision which could take up to 30 days.
The Surge Mastercard is available in all 50 U.S. states plus the District of Columbia, with the exception of the following states:
- Colorado
- Illinois
- Wisconsin
- West Virginia
- Massachusetts
- If you’re approved and you fully fund any security deposit (if applicable), your credit card and welcome
materials will be mailed within (3) business days.
- Credit Protection is an optional debt cancellation program offered with your credit card account.
Surge Card Ratings
How does the Surge stack up? Here are a selection of expert reviews for the card:
User Testimonials
What is the Surge Secured Mastercard like to live with? Before deciding if the card is right for you, here’s what our readers and members think about the card:
Should You Apply for the Surge® Platinum Secured Mastercard®?
Overall, the Surge Secured Mastercard® is an enticing secured card that offers excellent value for its $69 annual fee. The card earns an unlimited 1% back on eligible purchases, which puts it in rarified air among secured cards – most of which provide no rewards at all.
The Surge also provides the opportunity for credit limit increases without an additional security deposit. This feature lets responsible cardholders bridge the gap from secured to unsecured credit cards seamlessly and adds an extra incentive for correct card usage.
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