The Atlas Credit Card is a pretty good credit card for people who want to build credit, save money with rewards on eligible purchases, and avoid interest charges. It is very easy to get approved for this card, as you simply need to validate your identity and link your bank account. In fact, the company claims that its approval rate is usually over 95%. Plus, on-time bill payments will help you build credit with major credit bureaus.
One downside is the cost. Although it does not charge interest, the Atlas Credit Card’s membership fee is much higher than average. But, on the bright side, it gives you a chance to earn your money back via rewards. The Atlas Credit Card offers up to 3% - 10% cash back on eligible purchases, and you can even get 100% back in rare cases. That’s in addition to benefits such as cell phone protection and help negotiating bills.
What I Like About the Atlas Credit Card
Rewards on eligible purchases
The Atlas Credit Card offers attractive rewards rates. For example, you can get “up to 3% cash back” on gas, purchases from coffee shops, food delivery “and more.” The “more” can include rideshare, internet, and transit purchases. You also get 5% cash back on subscriptions, “up to 10% cash back” from 50,000+ stores, and “up to 100% cash back” on so-called lucky swipes.
Those earning rates are eye-catching, for sure. Most other cards will give you just 1% cash back in the Atlas Credit Card’s bonus categories.
No interest charges
The average credit card offer has a whopping 22.11% APR. Leaving a balance vulnerable to such a high interest rate for even a short period of time can end up being extremely expensive.
Fortunately, you won’t have that problem if you decide to get the Atlas Credit Card, since it never charges interest. But if you don’t pay your bill in full, you won’t have your full credit limit available, and the lack of interest is one reason the annual fee is so high.
High approval rate
Around 95%+ of Atlas Credit Card applicants are approved, according to the company. This might at first seem incredible, but all you need to do to qualify is validate your identity and link your bank account. This helps the issuer determine what credit limit you can afford.
You don’t need a certain credit score to qualify, which is good news for people with bad credit or no credit.
Credit-bureau reporting
The Atlas Credit Card reports to two major credit bureaus on a monthly basis. Paying the monthly bills on time and keeping your credit utilization low, can help you improve your credit score.
Other benefits
Cardholders get access to cell phone coverage, extended warranty protection, rental car insurance, and travel assistance when using the card for eligible purchases. These perks are helpful but also fairly common among other cards. Bill negotiation services are more unique, and the Atlas Credit Card can help with insurance, internet and phone bills.What I Don’t Like About the Atlas Credit Card
High fees
You have a choice between paying $8.99 every four weeks or $89 per year. If you plan on keeping your account for at least a year, the annual option will save you money. You won’t be saving compared to other credit card options, however.
You can find credit cards for people with bad credit or no credit experience that have $0 annual fees. If you get such a card and pay the bill in full every month, you could build credit at no extra cost.
Limited details about the rewards before you apply
While the Atlas Credit Card’s rewards rates seem quite high, some key information is missing that could help potential applicants make a more-educated decision. For example, there’s no list available to the public saying which stores or subscriptions are eligible for rewards of up to 5% - 10% back. Similarly, most people won’t know that you need to turn on certain features (like Smart Save) and meet engagement requirements to earn 3% back on eligible purchases.
In addition, it would be good to have more information about the 100% cash back “lucky swipes” before you apply. We had to ask Atlas about this, and it turns out you get 0.1% to 100% cash back on purchases above $1. But I’d bet you’ll be earning closer to the minimum on most purchases.
If you want more dependability from your rewards, consider a card that gives at least 1% back on all purchases (and preferably more). Most rewards cards give you that much in points, miles or cash back in exchange for every purchase you make.
Few specifics about credit limits
Your credit limit is based on how much money you have in your linked bank account. If you’re not satisfied with your limit, you can always place a security deposit. Your limit will increase by the amount of your deposit. That’s pretty much all they tell you before you apply.Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
