Updated: June 10, 2024
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MoneyGeek’s methodology for this review involves collecting credit card information, standardizing data points, analyzing potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.
The Deserve® EDU Mastercard for Students is primarily meant for students with a limited credit history. Usually, people with bad credit scores would have to put down a security deposit or have a co-signer to get approved for a credit card. However, this isn't the case with this unsecured card.
Since you don’t need a Social Security number to apply for this card, it is an excellent option for international students in the U.S.
Understanding the bonus and rewards structures of this card will help make your decision-making process easier.
You’ll have a clear picture in your mind about the various fees associated with the Deserve EDU Mastercard for students after reading the fine print of this card. With a relatively high APR and low cash back rate, this card doesn’t excel in these areas like some competing cards.
Regular APR
This card charges a high variable regular APR of 22.99%, a much higher rate than you’ll find with some other cards. This means that to avoid a lot of interest on your balance, you should pay it off in full every month.
Cash back Rewards Rate
With this card, you’ll get a flat cash back reward of 1% on every type of purchase. It’s certainly better than nothing, but many other cards offer higher rates and/or bonus categories that help you accrue rewards faster.
The Deserve® EDU Mastercard for Students also offers some other features for their customers.
The Deserve® EDU Mastercard for Students compares well with other cards in the same category because very few cards meant for students have a $0 annual fee and no fee for international transactions.
Deserve® EDU Mastercard for Students
Chase Freedom® Student credit card
You’ll need a credit rating of at least 630 to qualify for this card.
Yes, Deserve reports to all three credit bureaus.
It can take up to 10 working days for the application to process. You can pre-qualify online by filling out a form on the Deserve website.
Generally, you’ll need to provide your legal name, birth date, address, university/college ID, Social Security number and annual income if you’re a U.S. citizen. For international students, an SSN is not required.
Yes, Deserve has very good customer service. It’s easy to get in touch with their reps, who are friendly and helpful.
Yes, Deserve has a mobile app to help you manage your account online.
Deserve raises credit limits automatically after analyzing the account every few months.
Yes, Deserve offers many security features to keep your account safe. These include Mastercard ID Theft Prevention and easy account freezing through the company’s mobile app.
Yes, Deserve also offers the Deserve PRO and Deserve Digital First cards for its customers. In addition, business customers can get co-branded cards from Deserve.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
