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Up to 1%
Cash back
$69
Annual fee
19.99%
Purchase APR (variable)
300
Recommended credit score
Review by
Kliment Dukovski is a cryptocurrency and investments writer who has written over 700 articles to help readers find and compare the best financial options. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange and stock market trading.
As the name suggests, the Surge Secured Mastercard® is a secured card for building credit. Being a secured card means you have to make a deposit of $300 that acts as your credit limit. This basically guarantees that you’ll pay off your credit card balance. Should you decide to close your account and have no outstanding debt, you will get your full deposit back.
If you can afford the $300 deposit to start using the card, the Surge Secured Mastercard® can be a decent credit-building option. It reports to Experian, Equifax and TransUnion, and you get a free monthly access to your credit score to monitor your progress. On top of that, you’ll earn 1% back on your purchases. Not many secured cards offer this perk.
On the downside, the card comes with a $69 annual fee. This isn’t necessarily expensive, but it’s on the higher end. Secured cards typically cost $49 annually. However, some secured cards have no annual fee and can help you build credit just the same. To offset the $69 annual fee, you have to earn enough rewards by spending $6,900 with your card each year. If you spend more than that, you can even earn something on top.
Applying for the card is easy. Here’s how to do it:
You can apply with no credit history or with a bad credit score.
If you’re not satisfied with this card, check out other secured cards below to see more options for building credit.
The Surge Secured Mastercard® is a decent credit-building option. However, the card costs $69 annually, which isn’t expensive for this type of card, but you can get other secured cards without an annual fee.