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Surge Credit Card Review: Maximize Rewards & Build Credit
August 30, 2024
Are you looking to rebuild your credit but struggling to get approved for a traditional credit card offering various cardholder needs? The Surge® Platinum Mastercard®, issued by Celtic Bank and serviced by Continental Finance, not only offers an accessible option for those with less-than-perfect credit but also serves as an effective tool to build credit for various cardholder needs. In this comprehensive review, we'll cover everything you need to know about the Surge credit card, including its features, benefits, and potential drawbacks, perks, and various cardholder needs.
Kudos' Take:
- Pros: The Surge Mastercard has an initial credit limit of up to $1,000, which is relatively high for a card aimed at individuals with poor credit.
- Cons: The card's fees could run you close to $250 a year! Many other credit-building cards cost less.
- Bottom line: Unless you can't find other credit-building alternatives, the fees on the Surge Platinum Mastercard make it hard to justify keeping the card long-term.
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What is the Surge Credit Card?
The Surge Platinum Mastercard is an unsecured credit card designed for people with no to fair credit score. It reports to the three major credit bureaus - Experian, Equifax, and TransUnion - on a monthly basis, allowing you to build a positive payment history with responsible use. This credit card is issued by Celtic Bank and serviced by Continental Finance, a well-established company in the credit industry.
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Key Features of the Surge Credit Card
Initial Credit Limit and Increases
One of the standout features of the Surge Mastercard is its initial credit limit. New cardholders can receive a credit limit of up to $1,000, depending on their creditworthiness. After making your first 6 monthly minimum payments on time, Surge will double your credit limit up to $2,000, providing you with more available credit.
Monthly Reporting to Major Credit Bureaus
Surge reports your payment history to the three major credit bureaus each month. This allows you to build a positive credit history and potentially increase your credit score over time, as long as you make your payments on time and keep your credit utilization ratio low. Consistently making on-time payments is one of the most important factors in determining your credit score. Tools like Kudos can help you stay on top of your payments and maximize your rewards by ensuring you're using the best card for each purchase.
Mastercard Zero Liability Protection
As a Mastercard, the Surge credit card comes with Zero Liability Protection. This means you won't be held responsible for unauthorized purchases made with your card, providing an extra layer of security for your credit card account.
Online Account Access and E-Statements
Manage your Surge credit card account easily online. You can view your balance, make payments, and opt for electronic statements to stay on top of your account activity. The e-statements also help reduce clutter and are more environmentally friendly compared to traditional paper statements.
Who is the Surge Credit Card For?
The Surge Mastercard is an excellent choice for:
- People with no to fair credit who are looking to rebuild their credit score
- Those who have had trouble getting approved for other credit cards due to their credit history
- Individuals who want a higher initial credit limit than what's typically offered by secured credit cards like the Capital One Platinum Secured Credit Card (see rates & fees) and the Capital One Quicksilver Secured Cash Rewards Credit Card (see rates & fees)
- Anyone looking for a credit card that reports to all three major credit bureaus on a monthly basis
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How to Apply for the Surge Credit Card
Applying for the Surge Mastercard is a simple and straightforward process. Here's how to get started:
- Visit the Surge website and click on the "Pre-Qualify Now" button to see if you pre-qualify for the card without impacting your credit score.
- Fill out the easy application form with your personal and financial information.
- Review and accept the cardholder agreement.
- Wait for a decision on your application. If approved, you'll receive your new Surge credit card in the mail within 7-10 business days.
Once you receive your Surge Credit Card, consider adding it to your Kudos wallet. Kudos is a free AI-powered wallet that helps you maximize your credit card rewards and benefits. With Kudos, you can easily track your spending, monitor your credit score, and learn valuable credit card tips through the Kudos Lessons feature.
Surge Credit Card FAQ
Is Surge a legitimate credit card?
Yes, the Surge Credit Card is a legitimate credit card issued by Celtic Bank, a FDIC-insured financial institution, and serviced by Continental Finance, a reputable company in the credit card industry.
What credit score is needed for a Surge Credit Card?
The Surge Credit Card is designed for people with bad to fair credit. While there is no specific minimum credit score requirement, a credit score of at least 300 is recommended for the best chances of approval. Keep in mind that other factors, such as your income, credit utilization, building credit, high credit limit, and debt-to-income ratio, also play a role in the approval process. Tools like Kudos can help you monitor your credit score and provide insights on how to improve it over time.
Does the Surge Mastercard do a hard pull?
Yes, the Surge Credit Card will perform a hard pull on your credit when you apply. However, you can check if you pre-qualify for the Surge Credit Card with only a soft pull, which won't affect your credit score. The Surge Credit Card is designed for those with bad credit (300+ credit score), and you could be approved instantly if Celtic Bank, the issuer of the Surge Credit Card, can verify your identity. If not, it may take up to 30 days to receive a decision on your Surge Credit Card application.
What is the annual fee for the Surge credit card?
The annual fee for the Surge Mastercard ranges from $75 to $99, depending on your creditworthiness. This fee is charged when you open your account and on each anniversary of your account opening date. While the annual fee may seem high, it's essential to consider the potential benefits of building your credit history with this card.
How do I make payments on my Surge Credit Card?
You can make payments on your Surge Mastercard through their online account management portal, by phone, or by mailing a check or money order to their payment address. It's crucial to make at least your minimum payment on cards by the due date each month to avoid late fees and negative impacts on your credit score.
Is Surge a Good Credit Card?
The Surge Platinum Mastercard is a solid option for those looking to rebuild their credit. With monthly reporting to the three major credit bureaus, a potentially high initial credit limit, and the ability to double your credit limit after 6 on-time payments, this card offers a path towards a better credit score. Just be mindful of the annual fee and high APR, credit utilization, credit limit, and use the card responsibly to maximize its benefits. By keeping your credit utilization low and making on-time payments consistently, you can work towards qualifying for even better credit card offers in the future with higher score and limit.
To make the most of your Surge Credit Card and other credit cards in your wallet, consider using Kudos. This free AI-powered wallet helps you optimize your credit card usage, ensuring you always earn the maximum rewards and benefits possible. With features like Kudos Lessons, you can learn valuable credit card fundamentals, stay informed about the best credit card strategies, and improve your credit score. Plus, Kudos' partnership with The Points Guy gives you access to the highest sign-up bonuses available on new credit cards, helping you earn even more rewards.
By combining the Surge Mastercard with the power of Kudos, you'll be well on your way to building a strong credit history, maximizing your credit card benefits, and improving your credit score.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
