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Verve Mastercard®

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An unsecured credit-building card with a $99 annual fee and a $750 credit limit.

  • Get this card if you’re looking for an unsecured card for building credit.
  • Pick a secured card if you don’t want to pay an annual fee.
  • Apply with a poor to fair credit score best chances of approval.

$99

Annual fee

21.9%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameVerve Mastercard®
Card typeMastercard
Annual fee$99
Purchase APR21.9% variable
Balance transfer APRN/A
Cash advance rate21.9% variable
Cash advance fee$5 or 5% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $38
Returned payment feeUp to $38
Additional cardholder fee$30

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The Verve Mastercard® is an unsecured card for building credit. Unlike secured cards where you have to make a deposit to act as your credit limit, with the Verve Mastercard® you get a $750 credit limit without a guarantee. It’s rare to get this high of a credit limit with this type of card. Often you get either a $300 or $500 credit limit with competitor cards, plus they cost more.

The Verve Mastercard® costs $99 annually. This isn’t bad for an unsecured card for building credit because competitor cards often cost up to $299. Also, the card reports your activity to the three major credit bureaus — TransUnion, Experian and Equifax. Combined with the high credit limit and responsible card use, you can easily build your credit.

All this makes the Verve Mastercard® useful for anyone looking to build their credit but cannot afford $200 or $300 right away for a secured credit card. But if you can afford this amount, a secured card can help you build credit, while saving you $99 each year.

How to apply for the Verve Mastercard®

There are three ways to apply for the Verve Mastercard®: online, by getting a preselected mail or by phone. The online application is complicated and you may end up applying for the wrong card. If you didn’t get the preselected offer in your mail, the only remaining option is to apply for the card by phone. Here’s how:

  1. Call 866-513-4598.
  2. Provide all the required information
  3. Wait for a decision.

What credit score do I need?

For best chances of approval apply with a poor to fair credit. Though, you may also get approved with no credit score at all since this is a credit-building card.

Verve Mastercard® benefits

  • Unsecured credit limit. You get an unsecured credit limit of $750 to use for your purchases. This is relatively high, considering most competitors offer a credit limit of between $300 and $500.
  • Potential credit limit increase. After six months, you could become eligible for a credit limit increase.
  • Credit reporting. Your card activity is reported to Equifax, Experian and TransUnion. With responsible card use, you can easily build your credit score.
  • Credit monitoring. You get free monthly access to your credit score. This can help you keep track of your credit-building progress.

What to watch out for

  • Annual fee. The card costs $99 annually. This isn’t cheap, but most unsecured cards for building credit can cost up to $299.
  • Foreign transaction fees. Every transaction made abroad or online with foreign merchants will cost you 3% of the amount.
  • Hidden fee structure. Most credit cards make it easy to find all their fees online before you apply for the card. But not the Verve Mastercard®. To find the terms and conditions, you need to do some real digging on their website. Not a good trust signal.

Compare other cards for building credit

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
PCB Secured Visa®
Starting at $200
18.9% fixed
$39
300
Choose your initial deposit amount and credit limit from $200 to $1000. Rates & fees
Surge Mastercard® Credit Card
You may be asked to make a deposit for a secured card
25.9% to 29.99% variable
$75 to $99
580
An unsecured credit-building card with a $0 fee on cash advances for the first 12 months, then 5% or $5. This is a rare offer among similar cards.
Reflex Mastercard® Credit Card
You may be asked to make a deposit for a secured card
25.9% to 29.99% variable
$75 to $99
580
Made for people with poor credit who want an unsecured credit card. It can help you build credit, but watch out for high fees and interest.
Petal® 1
N/A
19.99% to 29.49% variable
$0
550
A high-limit no-annual-fee credit card that's ideal for rebuilding scores as low as 550. See if you prequalify with no impact to your credit.
Credit One Bank® Platinum Visa® for Rebuilding Credit
N/A
17.99% to 23.99% variable
$0 to $99
300
Earn 1% cash back on all purchases or in categories based on Credit One Bank’s discretion.
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What do customers say?

As of January 2021, the Verve Mastercard® has more than 1,000 reviews on Trustpilot and a high rating of 4.8. While most reviewers praise the card’s customer service, the complaints mostly revolve around hidden fees. Some cardholders even complain that they didn’t get the $750 credit limit as advertised, but they got either $300 or $500.

Bottom line

For a $99 annual fee, the Verve Mastercard® can help you build your credit. Your card activity is reported to all three major credit bureaus, plus you get free access to your credit score each month. What’s more, you get a $750 credit limit, which is way above what competitor cards offer.

But if you don’t want to pay an annual fee for a credit-building card, consider a secured card. With this type of card, you have to make a secured deposit that will act as your credit limit. But should you decide to close your account, the bank will return your deposit if you don’t have any debts toward the bank.

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10 Comments

    Default Gravatar
    Jesse
    March 4, 2019

    Is there an app for this card?

      Avatarfinder Customer Care
      Joshua
      March 4, 2019

      Hi Jesse,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Upon checking, there’s no mention of an app available for Verve Mastercard credit card.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    Tracee
    September 10, 2018

    I didn’t receive a mail offer. Can I still apply for a verve card?

      Avatarfinder Customer Care
      Jhez
      September 11, 2018

      Hello Tracee,

      Thank you for your comment.

      Upon checking, the timeframe for the “Pre-selected Offer” of Verve Mastercard has expired already, hence, they are no longer accepting an application for this offer. The Verve Mastercard is offered only to those who received preselected mail offer.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

    Default Gravatar
    Dwayne
    August 30, 2018

    How do I get approved for this card

      Default Gravatar
      joelmarcelo
      August 31, 2018

      Hi Dwayne,

      Thanks for leaving a question on finder.

      The only way to apply for this card is through the preselected mail offer. If you got one in the mail, follow the instructions on the offer. Since this card is made for beginners or anyone rebuilding credit, approval rates are very high. The recommended credit score range is 300 to 500, but it isn’t mandatory. Approval is usually very quick, or even immediate. You can expect to receive the card within 10 days.

      Cheers,
      Joel

    Default Gravatar
    BrianB
    August 6, 2018

    How can I apply for this card? It sounds perfect for me.

      Avatarfinder Customer Care
      johnbasanes
      August 6, 2018

      Hi Brian,

      Thanks for leaving a question on our page.

      Before applying for a Verve Mastercard, it would be fitting to check your credit score as this will influence your chances of approval.
      Since this card is made for beginners or anyone rebuilding credit, approval rates are very high. The recommended credit score range is 300 to 500, but it isn’t mandatory.

      To apply for this card, you should be 18 and above. For a complete list of the requirements, you can see this on the provider’s website.

      Approval is usually very quick, or even immediate. You can expect to receive the card within 10 days.

      Thanks,
      Reggie

    Default Gravatar
    Rosa
    June 26, 2018

    Estoy interesada en aplicar para tarjeta de crédito Verve

      Avatarfinder Customer Care
      nikkiangco
      June 26, 2018

      Hi Rosa!

      Thanks for leaving a question on our page.

      Before you apply for a Verve Mastercard, it would be fitting to check your credit score as this will influence your chances of approval.
      Since this card is made for beginners or anyone rebuilding credit, approval rates are very high. The recommended credit score range is 300 to 500, but it isn’t mandatory.

      To apply for this card, you should be 18 and above. For a complete list of the requirements, you can see this on the provider’s website.

      Approval is usually very quick, or even immediate. You can expect to receive the card within 10 days.

      Hope this helps.

      Cheers,
      Nikki

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