About lender
Deserve is a company providing its customers with credit cards. Its financial services are intended to enable people to pay for the products without credit checks, so they can build a credit history.
Deserve was previously known as SelfScore and Tremus. Its headquarter is in Murray, Utah.
Deserve has well-known banks and investment firms as its investors. Among them are Visa, Mastercard, Goldman Sachs, Sallie Mae, Cross River, and more.
Pros and cons
Pros
Customers can get referral bonuses of $30 each time they refer anyone by a personal referral code.
There are no annual fees.
You will automatically start earning cash back on all purchases once you are approved for Deserve EDU Mastercard for students.
Celtic Bank, which issues Deserve cards, is a Member FDIC.
You can apply and get a cell phone protection of up to $600 for Deserve EDU Mastercard credit cards. Cell phone insurance covers damaged phones.
Many useful benefits and rewards.
Cons
All rates for Deserve cards are variable.
There are no options for balance transfers and cash advances.
Terms and conditions
Deserve digital-first credit card agreement states that these Mastercard cards are issued by Celtic Bank. The annual percentage rate for purchases ranges from 15.74% to 25.74%, based on the borrower's creditworthiness.
Deserve EDU credit card has an annual percentage rate of 19.49% for purchases. These Deserve EDU Mastercard cards are issued by Celtic Bank. There are no international transaction fees on purchases abroad, and international students are eligible. There is 1% cash back on all purchases and a $0 annual fee. You can get a year of Amazon Prime Student Membership if you spend $500 in the first three billing cycles.
Classic cards are designed for borrowers new to credit. The APR ranges from 19.49% to 23.74% for purchases.
Deserve PRO cards have APRs from 16.74% to 23.74%, depending on your credit history and creditworthiness.
Balance transfers and cash advances are not available for a Deserve credit card.
The due date is at least 23 days after each of the billing cycles. If you pay the entire balance by the due date, Deserve won't charge you any interest. There are no fees, but up to $25 for the late payment and $37 for the returned payment.
APR, daily periodic rate, and interest changes once the Prime Rate changes. Deserve uses Prime Rate from the rates section of the Wall Street Journal.
There are credit benefits available to Deserve customers. Mastercard platinum benefits charges Deserve EDU Mastercard for students holders with no transaction fees and ID theft protection.
Deserve acts as a software-as-a-service. This means that if you are a company wishing to create your own credit cards, Deserve can issue you those. It has two types of products: consumer cards and commercial cards.
The consumer card platform allows you to change cards for your consumers. You can include different rewards, manage these cards online, and approve credit cards for more customers.
Commercial Card Platform suits small and medium businesses wishing to launch their credit cards. You can customize the rewards, control spending if cards are issued for employees, or extend paybacks up to 90 days.
Funding a credit
Deserve typically reviews the applications within three business days. If you are approved for a credit card, you can receive the card by mail within ten to fifteen business days.
