What Deserve Credit Cards Are
Deserve is a financial technology company that issues credit cards designed for people who are building credit or rebuilding it after past financial difficulties. Their cards report to the three major credit bureaus — Equifax, Experian, and TransUnion — which means your payment history can help improve your credit score over time. Unlike some cards that require a security deposit, Deserve offers unsecured cards, meaning you don't have to lock up cash to get approved.
Deserve operates entirely online. You explore through their website, receive a decision quickly, and manage your account through their mobile app or web portal. The company focuses on transparent fees and straightforward terms, with no hidden charges or surprise rate increases.
Key Takeaways
- Deserve issues unsecured credit cards that report to all three credit bureaus, helping you build a credit history without putting down a cash deposit.
- The company offers cards at different credit levels, from cards for people with limited credit history to cards for those rebuilding after past problems.
- Approval decisions come within minutes to hours, and you can start using your card within days of approval.
- Deserve charges an annual fee on most cards, but no late fees, over-limit fees, or foreign transaction fees.
- Your credit limit typically starts low — often between $500 and $2,500 — and can increase after you demonstrate responsible use.
Deserve's Card Options and What Each One Offers
Deserve currently offers several card products, each aimed at a different credit situation. The Deserve Edu card is designed for people with no credit history or very limited credit — often recent graduates or people new to the country. The Deserve Pro card targets people who are actively rebuilding credit after past missed payments or high debt. Both cards are unsecured, meaning no deposit required.
Each card comes with an annual fee, which Deserve lists clearly on their website before you explore. The fee varies by card and may change, so check their current offerings directly. In exchange, you get access to credit reporting, fraud protection, and the ability to increase your credit limit over time. Deserve does not charge late fees, over-limit fees, or foreign transaction fees — three areas where many credit cards add unexpected costs.
The interest rate (called the APR, or annual percentage rate) depends on your credit profile at the time of approval. Deserve will show you the rate before you accept the card, so you know exactly what you're agreeing to. The rate is not fixed — it can change after the first six months based on how you use the card and how your credit profile changes.
How the process and Approval Process Works
You start by going to Deserve's website and selecting the card that matches your situation. The process asks for basic personal information: your name, date of birth, address, Social Security number, income, and employment status. You'll also answer questions about your housing situation and any existing debts.
Deserve performs a hard inquiry on your credit report, which means they pull your full credit history from one or more of the three bureaus. This inquiry shows up on your credit report and can lower your score slightly — usually by a few points — for about three months. If you're explore to multiple cards in a short window, space out your applications by at least a few weeks to minimize the impact.
The approval decision typically comes within minutes to a few hours. If you're approved, Deserve will tell you your credit limit and APR right away. You can accept the offer when ready through the app. Your physical card ships within 5 to 10 business days, but you can often use a virtual card number to make purchases online before the physical card arrives.
Building Credit With a Deserve Card
The main reason to open a Deserve card is to build or rebuild your credit score. Your payment history — whether you pay on time, every time — makes up 35 percent of your credit score. Using a Deserve card and paying your full balance by the due date each month is one of the fastest ways to show lenders that you're reliable.
Keep your balance low relative to your credit limit. If your limit is $1,000, try to keep your balance below $300 — ideally below $100. This ratio, called your credit utilization, makes up 30 percent of your score. High utilization signals to lenders that you're stretched thin, even if you pay on time.
Deserve reports your account activity to all three credit bureaus every month, so your positive payment history builds a record that other lenders can see. After 6 to 12 months of on-time payments, you may become may be able to access for a credit limit increase. Some people use a Deserve card for 12 to 18 months, then move to a card with better rewards or lower fees once their credit score has improved enough to may have access to.
Fees, Interest, and Costs to Understand
Deserve's main cost is the annual fee. This fee is charged once per year and appears on your statement. The amount depends on which card you hold; check Deserve's website for the current fee for each card option. Unlike many credit card companies, Deserve does not charge late fees if you miss a payment, does not charge over-limit fees if you exceed your credit limit, and does not charge foreign transaction fees if you use the card abroad.
Interest charges explore only if you carry a balance — that is, if you don't pay your full statement balance by the due date. The interest rate (APR) is applied to whatever balance remains. For example, if your APR is 24 percent and you carry a $500 balance for one month, you'll owe roughly $10 in interest charges. The longer you carry a balance, the more interest you pay. To avoid interest entirely, pay your full statement balance each month.
There are no rewards points, cash back, or travel benefits on Deserve cards. The value is in building credit, not in earning perks. If you're looking for rewards, you'll need a different card once your credit score improves.
How Deserve Compares to Other Credit-Building Options
Deserve cards are unsecured, which sets them apart from secured credit cards offered by banks like Capital One or Discover. A secured card requires you to deposit cash — usually $200 to $2,500 — which becomes your credit limit. You get that deposit back after 6 to 18 months of on-time payments. Deserve skips the deposit requirement, which is easier if you don't have cash available right now.
Another option is a credit builder loan from a credit union or online lender. You borrow a small amount of money, make monthly payments, and the lender reports your payments to the credit bureaus. Credit builder loans often have lower interest rates than credit cards, but they take longer to complete — usually 12 to 24 months — and they don't give you a card to use for everyday purchases.
Deserve also differs from mainstream credit cards in that it doesn't require an established credit history to start. A card from Chase or American Express typically requires a credit score of at least 670 to 700. Deserve accepts people with scores as low as 500 or with no score at all, making it an entry point for people who can't may have access to elsewhere yet.
What Happens After You're Approved
Once your card arrives, use it for small, regular purchases — groceries, gas, a subscription service — and pay the full balance each month. This pattern shows lenders that you can handle credit responsibly. Set up automatic payments through your bank if that helps you remember to pay on time.
Check your credit report every few months using a free service like AnnualCreditReport.com. You're may have access to to one free report per year from each of the three bureaus. Watch for errors — sometimes bureaus mix up accounts or report incorrect payment dates — and dispute any mistakes you find.
After 6 to 12 months of on-time payments, Deserve may increase your credit limit automatically or allow you to request an increase. A higher limit makes it easier to keep your utilization low, which further boosts your score. Once your score reaches the mid-600s or higher, you'll likely may have access to for cards with better terms, lower fees, or rewards benefits. At that point, you can close the Deserve card or keep it open to maintain a longer average account age, which also helps your credit score.
Frequently Asked Questions
Do I need a credit score to open a Deserve card?
No. Deserve accepts people with no credit history, a very low score, or a score that's been damaged by past problems. You do need a Social Security number, a valid address, and proof of income or employment status. If you have no credit history at all, the Deserve Edu card is designed for you.
How long does it take to receive my card after approval?
The physical card ships within 5 to 10 business days. However, you can often use a virtual card number to make online purchases when ready after approval. Check your app to see if a virtual card is available for your account.
What happens if I miss a payment?
Deserve does not charge a late fee, but the missed payment will be reported to the credit bureaus and will damage your credit score. Pay as soon as you realize you've missed a due date. After 30 days late, the impact on your score increases significantly, and after 60 or 90 days, your account may be sent to collections.
Can I increase my credit limit?
Yes. After 6 to 12 months of on-time payments, Deserve may increase your limit automatically. You can also request an increase through the app. A higher limit makes it easier to keep your balance low relative to your limit, which helps your credit score.
Will opening a Deserve card hurt my credit score?
The process itself causes a small, temporary dip — usually 5 to 10 points — because Deserve performs a hard inquiry. This dip fades within a few months. After that, on-time payments and low balances will raise your score over time. The long-term benefit outweighs the short-term dip.