The Deserve® Classic Credit Card is a simple, no-frills credit card designed to help you start building your credit history. While the Deserve® Classic Credit Card doesn’t include a rewards program, it does offer the opportunity to build credit with lower barriers to entry than the average credit card.
Review: Deserve® Classic Credit Card is simple, yet effective for building credit
The Deserve® Classic Credit Card is a very basic credit card for building credit. It gives cardholders the chance to build their credit without an upfront deposit, as they would with a secured credit card.
Deserve® Classic Credit Card benefits and features
The Deserve® Classic Credit Card is a good option for building credit, but is otherwise bareboned for features. However, there are a few additional benefits that are helpful if things go awry.
Easy approval process
Deserve credit cards have a unique approval process. Deserve was created to serve those with limited or no credit history. Deserve uses a proprietary algorithm to determine your eligibility for the card. This algorithm takes into account several factors outside of credit score. Because of this, you can qualify for this card with no credit history. In addition, the card does not require an upfront deposit like a secured credit card.
The Deserve® Classic Credit Card essentially allows you to build credit without that deposit or high annual fees. With on-time monthly payments and responsible use, you’ll be building your credit history in no time.
Mastercard Platinum benefits
The Deserve® Classic Credit Card includes a few additional benefits through the Mastercard Platinum program:
|Price Protection||If you purchase a product and find it advertised elsewhere for less within 60 days of purchase, you will be eligible for a refund of the price difference|
|Extended Warranty||Doubles the original manufacturer's warranty up to 12 months|
|Mastercard Global Service||24-hour assistance with lost/stolen card reporting, emergency card replacement and emergency cash advances|
|Mastercard Airport Concierge||15% savings on airport meet and greet services|
The Deserve® Classic Credit Card comes with rental car insurance that covers you in case a qualifying vehicle that you rent with the card is damaged or stolen. This is secondary insurance to your personal car insurance, so be sure to know what your primary insurance will cover beforehand.
Also, if you travel overseas and make purchases with the Deserve Classic card, there are no foreign transaction fees to worry about, so it's a good option for international travel.
Cell phone protection
Cell phones are a large investment and can be costly to fix or replace. Phone providers typically insure a phone for defects, but won't reimburse you if a phone is broken because of misuse. When you use the Deserve® Classic Credit Card to pay your monthly cell phone bill, your phone is covered in such situations, for up to $600 in expenses each year, with a $50 deductible.
How does the Deserve® Classic Credit Card compare to other credit cards?
The Deserve® Classic Credit Card is a great credit card to build credit, but lacks any real spending benefits. There are alternatives that can help you build credit and earn rewards simultaneously.
Deserve® Classic Credit Card vs. Deserve® Pro Credit Card
While the Deserve® Classic Credit Card is also issued by Deserve and includes the same Platinum Mastercard benefits, it offers a better earning rate and provides travel benefits like Priority Pass lounge access.
When you use the Deserve® Pro Credit Card, you will earn:
- 3% on travel
- 2% on restaurants
- 1% on everything else
The Deserve® Pro Credit Card uses the same application process and approval algorithm as the Deserve® Classic Credit Card, which means it's another good option for people with limited credit histories.
The Deserve® Pro Credit Card has the potential for a lower APR at 18.74%, while the Deserve® Classic Credit Card has a variable APR of 24.49%. These APRs are much higher than the Average Credit Card Interest Rates - March, 2020, so it isn’t advisable to carry a balance each month with either card.
Deserve® Classic Credit Card vs. Discover it® Student Cash Back
If you are a current student, the Discover it® Student Cash Back can provide great benefits. Unlike the Deserve® Classic Credit Card, the Discover it® Student Cash Back provides a great cashback program. You will earn:
- Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate.
- Plus, earn unlimited 1% cash back on all other purchases – automatically.
The card doesn’t come with a sign-up bonus; however, for new cardmembers Discover will match all of the cash back you earn in the first year. So if you earn $200 in cash back in the first year, Discover will award you an additional $200. This is a great introductory offer, since there isn’t a minimum spending requirement to hit, nor is there a limit to the amount of cash back that Discover will match.
One unique benefit of the Discover it® Student Cash Back is the statement credit it offers for good grades — for each school year that you earn over a 3.0 GPA, you will earn $20. You can submit your grades between May through August in your customer portal under “good grade reward”.
As for building credit and the application process, each of these cards are much different. With Deserve, you can apply with limited to no credit as their proprietary algorithm will analyze various factors other than your credit score. When applying for a Discover card, your credit score is considered. However, the Discover it® Student Cash Back card is targeted to students with limited credit histories, so you shouldn't feel discouraged from applying for the card if you meet the qualifications.
If you're a college student on a strict budget, the Discover it® Student Cash Back may give you extra funds with its outstanding cash back offer.