Pink Card credit cards are designed for people rebuilding credit or starting from scratch
A Pink Card is a secured credit card issued by Deserve, a fintech company. You put down a cash deposit — typically between $200 and $2,500 — and that deposit becomes your credit limit. You use the card like any other credit card, paying a monthly bill. The deposit stays in a separate account and is not touched unless you stop paying your bill.
The main reason to consider a Pink Card is that Deserve reports your payment history to all three credit bureaus (Equifax, Experian, and TransUnion). If you pay on time every month, this activity builds a credit score from zero or improves a damaged one. After 7 to 12 months of on-time payments, you may be able to convert to an unsecured card and get your deposit back.
Pink Cards are not the only secured card option. Other issuers like Capital One, Discover, and U.S. Bank also offer secured cards with similar mechanics. The choice between them depends on fees, deposit requirements, and how quickly you can move to an unsecured product.
Key Takeaways
- A Pink Card requires a cash deposit that becomes your credit limit, and the deposit is held separately and returned once you graduate to an unsecured card.
- Deserve reports your payment activity to all three credit bureaus, which is how the card builds or rebuilds your credit score.
- Annual fees, foreign transaction fees, and other costs vary by card and should be compared against competing secured cards before you choose.
- On-time payments are the only factor that matters for credit building — the card itself does not may provide approval for future credit products.
How the deposit and credit limit work
When you open a Pink Card account, you choose your deposit amount. Deserve's current minimum is $200 and maximum is $2,500, though these amounts can change. Your deposit is held in a separate savings account at a partner bank and earns a small amount of interest — currently around 0.5% annual percentage rate (APR), though this varies.
Your credit limit equals your deposit. If you deposit $500, your limit is $500. You can request a credit limit increase after six months of on-time payments, and Deserve may increase it without requiring an additional deposit. Some cardholders have reported increases to $1,000 or higher, but this is not may provide and depends on your payment history and Deserve's underwriting.
The deposit is not charged as a fee. It is your money, held in reserve. If you close the account in good standing, you get it back. If you default on payments, Deserve can use the deposit to cover what you owe, but this is a last resort, not the primary way the card works.
Fees and costs to compare
Pink Cards charge an annual fee of $0 in the first year, then $95 per year after that. This is higher than some competitors — Capital One's Secured Mastercard has no annual fee, and Discover's secured card also charges $0 annually. However, Deserve does not charge foreign transaction fees, which can matter if you travel or make international purchases.
There is no late fee, over-limit fee, or returned payment fee on a Pink Card. This is unusual and a genuine advantage. Most other secured cards charge $25 to $35 for late payments. If you are rebuilding credit and worried about mistakes, the absence of these fees reduces the cost of a slip-up.
Interest rates (APR) on Pink Cards are typically 18% to 22%, depending on your creditworthiness at the time of approval. This is standard for secured cards and is not a reason to choose or avoid Pink over competitors. The real cost comes only if you carry a balance month to month instead of paying in full.
How Pink Card helps build credit
Credit scores are built from five factors: payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit inquiries (10%). A Pink Card affects the first three directly.
Payment history is the largest factor. Every month you pay on time, Deserve reports that to Equifax, Experian, and TransUnion. After six months of on-time payments, you should see your score begin to move upward, assuming you have no other negative marks on your report. After 12 to 24 months, the improvement can be substantial — often 50 to 100 points or more, depending on where you started.
Amounts owed (credit utilization) is the second factor. If your limit is $500 and you spend $100 per month and pay it off, your utilization is 20%, which is good. Keeping utilization below 30% helps your score. A Pink Card's lower limit makes this easier to manage than a high-limit card would be.
Length of credit history matters over time. The longer you keep the account open and active, the more this factor helps. Closing a Pink Card after you graduate to an unsecured card can hurt your score temporarily, so many people keep it open even after they no longer need it.
When to graduate to an unsecured card
Most issuers, including Deserve, allow you to convert a secured card to an unsecured card after 7 to 12 months of on-time payments. Conversion is not automatic — you have to request it. When approved, your deposit is returned to you, usually within 5 to 10 business days.
Before you request conversion, check your credit score. If it has improved to 650 or higher, you have a reasonable chance of approval. If it is still below 600, conversion may be denied, and you will keep the secured card. There is no penalty for requesting; a denied request does not hurt your score.
Some people keep their Pink Card even after converting to an unsecured card, because closing old accounts can lower your score slightly. The card costs $95 per year after the first year, so the math depends on whether the score benefit is worth that annual fee to you.
Pink Card versus other secured cards
The main competitors are Capital One Secured Mastercard, Discover Secured Card, and U.S. Bank Secured Visa. Here is how they compare on the factors that matter most:
| Card | Annual Fee (Year 2+) | Foreign Transaction Fee | Minimum Deposit | Credit Bureau Reporting |
|---|---|---|---|---|
| Pink Card (Deserve) | $95 | None | $200 | All three bureaus |
| Capital One Secured | $0 | None | $200 | All three bureaus |
| Discover Secured | $0 | None | $200 | All three bureaus |
| U.S. Bank Secured | $29 | None | $300 | All three bureaus |
The most significant difference is the annual fee. Capital One and Discover charge nothing after year one, while Pink charges $95. Over five years, that is $380 in extra fees. Unless you value something specific about Deserve's product — such as customer service, app features, or the interest earned on your deposit — a no-fee card is usually the better choice financially.
All of these cards report to all three bureaus, so credit-building power is equivalent. The choice comes down to fee structure, user experience, and whether you plan to keep the card open long-term or close it after converting to unsecured.
What Pink Card does not do
A Pink Card builds credit history, but it does not may provide future approval for loans, mortgages, or other credit products. Lenders look at your full credit profile — score, payment history, income, debt-to-income ratio, and more. A Pink Card is one piece of that puzzle.
The card also does not remove negative marks from your credit report, such as late payments, collections, or charge-offs. It can only add positive information going forward. If you have recent negative marks, a Pink Card will help, but the damage will still be visible to lenders for several years.
Finally, the card does not provide rewards, cash back, or travel benefits. It is a tool for credit building, not a card to use for everyday spending once your credit is strong. Once you have built your score, you will want to move to a rewards card that actually pays you for spending.
Frequently Asked Questions
Can I get a Pink Card if I have no credit history?
Yes. Deserve does not require an existing credit score or history to open a Pink Card. You will need to be at least 18 years old, have a valid Social Security number, and pass a background check. A thin or nonexistent credit file is not a barrier.
What happens if I miss a payment on a Pink Card?
A missed payment is reported to all three credit bureaus and will damage your score. There is no late fee, but interest accrues on the unpaid balance at your card's APR. If you miss multiple payments, Deserve may close your account and use your deposit to cover what you owe.
Can I increase my credit limit without adding more money?
Yes, after six months of on-time payments you can request a credit limit increase. Deserve may grant it without requiring an additional deposit. However, this is not may provide and depends on your payment history and their underwriting criteria at the time of your request.
Do I have to pay interest if I pay my balance in full each month?
No. If you pay your full statement balance by the due date, no interest is charged. Interest only applies to balances you carry from one month to the next. For credit building, paying in full each month is the best approach.
What is the difference between a secured card and a prepaid card?
A secured card is a credit product that reports to credit bureaus and builds your credit score. A prepaid card is not a credit product — it is like a debit card loaded with your own money. Prepaid cards do not build credit. If your goal is to build credit, a secured card is what you need.