I helped my daughter try to get this card as her first credit card, starting college. The application process was a nightmare. We followed all the instructions, and then they demanded a copy of her student ID card. She only had a digital copy, as she hadn't started school yet. Went back and forth with them for weeks, playing phone tag, unable to reach anyone who would answer the phone. Hours wasted, I finally sent an email of my frustrations. A supervisor called and said the digital copy would be fine. So she submitted it again and a week later her whole application was denied because of the lack of student ID (which she had sent successfully numerous times). Total waste of time, we will be going elsewhere and never doing business with Deserve again.
The Deserve® EDU Mastercard for Students interest rate is 22.99% Variable. This Deserve EDU card interest rate is variable, meaning it can change based on certain economic conditions.
Deserve EDU gives you a 23-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card's payment due date. You won't owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Deserve EDU card, it will accumulate interest daily at the card's regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.
All Deserve EDU card interest rates will be listed on your statement and on your online account summary.
The Deserve EDU Credit Card credit limit is usually around $1,000 to start, according to forum posts, and some cardholders report limits as high as $5,000. Deserve does not include any specific Deserve EDU credit limit information in the card's terms, though.
For the most part, Deserve EDU credit limits depend on each applicant's overall creditworthiness. Those with the highest income and best credit scores will generally be offered the highest starting credit limits.
That said, the Deserve EDU Card credit limit that you start with isn't necessarily your credit line forever. Deserve will also evaluate your account periodically to determine whether you are eligible for a credit limit increase. Paying on time and keeping your credit utilization low are key for getting unsolicited credit line increases with Deserve.
The Deserve® EDU Mastercard for Students is a good first-time credit card because it is available to people with limited credit and it offers rewards, giving 1% cash back. The card's annual fee is $0. Responsible use also builds credit, as the Deserve EDU Card reports account info to the major credit bureaus monthly.
To get approved for the card, you will need to have a steady income and meet other basic requirements like being at least 18 years old and having an SSN. International students don't need an SSN, but they must provide proof of a U.S. bank account balance, student visa, passport ID, and their legal school document (I-20, for example).
Why Deserve EDU Card Is a Good First-Time Credit Card
It's worth noting that the Deserve EDU Card isn't the only good first-time credit card out there. You can learn more about the best first-time credit cards on WalletHub.
Yes, the Deserve Classic Mastercard is a regular credit card. It's designed for building credit, but that doesn't change anything about how it works, looks or is reported to the credit bureaus.
You have to be a student to apply for the Deserve Edu Student credit card.
Your web browser (Internet Explorer) is out of date and no longer supported.
Please download one of these up-to-date, free and excellent browsers:
