Deserve PRO Mastercard: Earn Cash Back While Building Your Credit

NOTE: The Deserve Pro Mastercard is not currently open for applications and is taking new cardholders by invite only. Instead, you might consider checking out credit cards for students or credit cards for those with no credit.

For approval on a lot of rewards credit cards, you need to have strong or exceptional credit. Deserve is a venture-backed fintech startup, unlike many other card issuers, that provides a few rewards credit cards intended to assist consumers to develop credit.

One of these cards is the Deserve Pro Mastercard. It provides several travel benefits in addition to cashback earnings. The card has no annual charge and no fees for international transactions, but it is lacking some essential features that would make it a more comprehensive rewards card.

To find out if the Deserve Pro Mastercard is the best option for your wallet, continue reading to learn more about it.

Deserve Pro Mastercard: Who Should Get One?

For those with a spotty credit history, the Deserve Pro Mastercard can be a decent choice. It also doesn’t call for a security deposit, in contrast to secured credit cards, which are popular choices for people with bad credit. Deserve may have a card option for you if you are younger or have recently arrived in the United States and haven’t had time to establish a credit history. Additionally, the credit bureaus will receive information about your payment history, which could eventually help you establish credit.

The Deserve Pro may also be a viable option if you want to earn rewards for your spending but don’t meet the credit requirements of premium rewards cards. The greatest rewards credit cards could offer better value if you have established credit and a high credit score. There is no welcome bonus, no introductory APR deal, and no balance transfers with Deserve Pro. For people with good to excellent credit, various no-fee credit cards provide those kinds of benefits.

Deserve Pro Mastercard Perks And Benefits

• Cashback rewards: Cardholders receive 3% cash back on travel and entertainment, and 2% cash back at restaurants (the 3% and 2% rates apply to the first $500 spent in both categories combined each billing cycle, after which the 1% rate applies), and 1% cash back on all other purchases.
• Airport lounge access: If you spend $1,000 within the first 90 days of receiving your Deserve Pro card, you will receive a one-year Priority Pass membership.
• Cell phone insurance: You will also receive mobile phone protection against theft and damage up to $600 per claim ($1,000 total per 12-month period) if you pay your monthly cell phone bill using your Deserve card.
• Rental car insurance: Cardholders can purchase theft insurance and a collision damage waiver for their rental cars. Rent a car using your Deserve Pro Mastercard and opt out of the rental company’s insurance to gain access to coverage.
• Mastercard benefits: Access to Mastercard World advantages like Mastercard ID Theft Protection, online shopping savings, a few travel support services and benefits, and more are included with Deserve Pro.
• No annual fees: The yearly charge for the Deserve Pro Mastercard is $0. It is a good card to use when traveling abroad because it has no foreign transaction fees.

Deserve Pro Mastercard Drawbacks

• No welcome offer: Deserve Pro does not give a welcome bonus, just like the other Deserve credit cards.
• No intro APR offer: Additionally, there is no introductory interest rate on purchases or balance transfers with this card. You’ll get the standard APR, which varies depending on how creditworthy you are.
• No balance transfers: Cash advances and balance transfers are not permitted with this card.

Deserve Pro Mastercard Cash Back Earning & Redemption

Potential earnings in years one and two

Here is an example of how the Deserve Pro Mastercard can increase your cash back.

Keep in mind that this is a projection. How much you spend and where you spend it will define your true worth.

Year one earnings: $543

Year two earnings: $543

Earning Opportunities

There is no welcome bonus offer with the Deserve Pro card, resulting in no opportunities to earn bonus points for reaching particular spending thresholds. The card has a straightforward cashback benefits system. For the first $500 in combined spending in these areas per billing cycle, you’ll get 3% cash back on travel and entertainment, 2% at restaurants, and 1% on all other purchases. Take note that the Deserve Pro card does not count bars as eateries. This card might not be the best to use outside of its bonus categories because other rewards cards give a greater rate on ordinary spending.

It’s significant to note that this card has a cap on the bonus points that can be earned. Each billing cycle, the first $500 in combined travel, entertainment, and restaurant expenditures will earn you extra cashback rates. You will then receive 1% of everything else.

Maximize Redemptions

Statement credits are the exclusive form of redemption for the Deserve Pro Mastercard. Deserve automatically issues statement credits in $25 increments. Since this card offers automatic redemptions, the fact that your cashback points have no expiration date as long as your account is active probably won’t matter. If your account is closed or in bad standing, cashback redemptions are not possible.

Deserve Pro Mastercard FAQs

Is The Deserve Pro Mastercard A Good Deal?

If you want to improve your credit while still collecting cashback incentives, the Deserve Pro Mastercard might be an excellent choice. You most likely won’t be eligible for the finest rewards credit cards available if your credit is subpar.

Is There A Credit Score Minimum For The Deserve Pro Mastercard?

Deserve doesn’t post any particular FICO credit score requirements, unlike the majority of credit card companies. In addition, having a credit history isn’t always necessary to be eligible for Deserve Pro because this lender also takes other aspects into account.

Is There A Credit Limit On The Deserve Pro Mastercard?

The Deserve Pro Mastercard has a credit limit of up to $10,000, and your overall limit will depend on your creditworthiness.

Is A Social Security Number Required?

During the Deserve Pro card application process, you could be required to disclose your Social Security number. If you are a prospective Deserve EDU Mastercard applicant who is an overseas student, a Social Security number might not be necessary.

Is A Sign-Up Bonus Available?

Unfortunately, the Deserve Pro Mastercard does not come with a sign-up incentive.

Other Cards Worth Considering

The Deserve Pro might not be the right credit card for you if you already have established credit. The Chase Freedom Unlimited® is a better cashback rewards card to take into consideration. With this credit card, you may get 5% cash back on trips booked using Chase Ultimate Rewards, 3% cash back at restaurants and drugstores, and 1.5% cash back on all other transactions. Additionally, cardholders receive a 15-month introductory APR on purchases of 0% (then variable from 17.99% to 26.74%).

With Chase Freedom Unlimited, you can use your cash-back rewards to pay for purchases on Amazon, statement credits, gift cards, or travel through the Chase Ultimate Rewards website. Additionally, this card comes with a pleasant bonus: Up to $20,000 in qualified purchases can result in an additional 1.5% cash back in the first year.

Another cashback card to think about is the Citi Custom CashSM Card if your spending fluctuates from month to month. Cardholders receive limitless 1% cash back on all other purchases in addition to 5% cash back on your top qualified spending category each billing cycle (up to the first $500 spent, and then 1% cash back after that). If you want to take advantage of a 0% intro APR on purchases for 15 months (after which it will range from 17.74% to 27.74%) and a 0% intro APR on balance transfers for 15 months (after which it will range from 17.74% to 27.74%), Citi Custom Cash is an excellent solution.

Although it loses some of the travel perks offered by the Deserve card, it does offer free access to your credit report so you may monitor your progress as you establish credit.