The Surge MasterCard is a credit card issued by Celtic Bank. It has a maximum credit limit of $750, a high APR rate, monthly and annual fees. Beyond this, most other fees on the Surge MasterCard are just a little higher than average.
This is not always an unsecured credit card and those applying with lower scores may need to pay the entirety of their initial credit line (a minimum of $500) as a deposit. Further, if your credit line is ever increased there will be yet another fee to pay. For more on how this card works and what to be aware of before you apply, see the full review below.
The Surge MasterCard is marketed toward people that need to rebuild their credit or build up a credit history. In this category, the Surge MasterCard isn't the worst option, but it's far from the best.
The Surge MasterCard is a credit card that has great approval odds even with credit scores as low as 550, with no recent defaults, bankruptcies, or charge-offs. To that end, the Surge MasterCard is best for people with low credit scores. However, they also need to be the kind of people with significant disposable income that can be spent on a card for the express purpose of adding a very small credit line to their credit history.
The Surge MasterCard works on a variable APR system. At present, this means rates are at or about 25.90% to 29.90% APR for purchases. Cash Advances have the same APR, though this may change in the future as the Prime Rate is adjusted.
The minimum credit limit for the Surge MasterCard is $500 and the maximum credit limit is $750. You can request a free credit review to see if you qualify for a credit line increase after a minimum of 6 months of consecutive, on-time payments. However, if you are given a credit line increase you may incur a fee of up to 50% of the total credit line increase.
Unlike other credit cards, even accounts in good standing may receive a hold on credit even after a payment is made. For example, if you make a payment and it is processed, you may have to wait up to 10 days to make use of the credit you have freed up. For those in poor standing, this hold may be indefinite or last until the next billing cycle.
In some cases, these delays may also cause you to have a “missed” payment as it was not fully posted or credited to the account by the due date. To avoid this situation, it's best to ensure you have at least paid the minimum balance 10 days before your due date.
- Annual Fee – The annual fee for all customers is $99, starting the day your account is opened.
- Monthly Maintenance Fee – The monthly maintenance fee outlined at www.yoursurgecard.com may be waived for some customers with better-than-average scores and credit history. For everyone else, the monthly fee is up to $10 or $120 per year.
- Cash Advance Fee – The cash advance fee is the greater of either $5 or 5% of the total cash advance.
- Foreign Transaction Fee – The foreign transaction fee for the Surge MasterCard is 3% of the transaction total in USD.
- Late Payment Fee – The late payment fee for the Surge MasterCard is up to $40.
- Return Payment Fee - The return payment fee for the Surge MasterCard is up to $40.
- Authorized User Fees – There is a one-time fee of $30 for each additional card or authorized user on a single account.
- Balance Transfer Fee – There are no balance transfers allowed to the Surge MasterCard. As such, there are no balance transfer fees.
- Credit Limit Increase Fee – Though the Credit Review is “Free” the actual credit line increase may not be. Some Surge card customers are charged up to 50% of the line increase total. For example, an increase from $500 to $750 will incur up to a $125 fee.
The Surge MasterCard offers no rewards program. They also offer no notable benefits beyond the mandatory fraud protection program that MasterCard requires.
Pros – Why to respond to www.yoursurgecard.com
The Surge MasterCard does have an advantage or two.
- Permissive Credit Score Requirements – The only good thing about this card is that they will, on occasion, approve very low credit scores.
- $0 Fraud Protection – As a MasterCard, the Surge MasterCard has fraud protection.
Cons – Why not to respond to www.yoursurgecard.com
There are a few disadvantages to the Surge card that must be considered before applying.
- No Automatic Gas Pump Purchases – Though only a minor inconvenience, the Surge MasterCard cannot be used to purchase fuel at an automated gas pump. However, most convenience stores and gas stations will allow you to pay for fuel or pre-pay inside of the store.
- Annual Fees and Monthly Fees – The maximum monthly and annual fees for the Surge MasterCard add up to $219 per year and may change over time.
- Secured After Approval – For many, the Surge MasterCard is converted to a secured version.
- Long Payment Processing Times – The time it takes for your payment to process and post should never lead to you having to pay a late fee. However, with the Surge card, that seems to happen.
- Low Credit Limit with a Cap – At most, you can get a $750 credit limit out of this card.
- Frequent Technical and Customer Service Outages - The Surge website has many outage complaints and their customer service reps are frequently low-rated with long hold times.
The Surge MasterCard offers from yoursurgecard.com is one of those cards that you should only consider after thoroughly researching and exhausting all of your other options. If you do have a score of 550, there are better options. If you have a score closer to 450, this may be the type of credit-building tool you have to budget for. However, there are some slightly more reputable companies out there.
In short, the Surge MasterCard has high interest but it's avoidable if you pay your bill in full as soon as you get it. The high fees, however, make this a card that's hard to keep for most as you will end up paying more than half of your credit limit just to have the card. Beyond that, the Surge Card offers no additional benefits.