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Introduction
When it comes to credit cards, there are countless options available in the market. Each card comes with its own set of benefits and features, making it challenging for consumers to choose the right one. Deserve Pro is a credit card that has gained popularity in recent years, but is it truly a pro move or just another amateur mistake? In this article, we will delve into the details of Deserve Pro, examining its features, benefits, and drawbacks, to help you make an informed decision.
What is Deserve Pro?
Deserve Pro is a credit card designed specifically for students and young professionals who are looking to build their credit history. It is issued by Celtic Bank and powered by Mastercard, making it widely accepted around the world. The card offers a range of features and benefits that are tailored to the needs of its target audience.
Features of Deserve Pro
- No annual fee: One of the key advantages of Deserve Pro is that it does not charge an annual fee. This makes it an attractive option for individuals who are just starting to build their credit and may not have a high income.
- Cashback rewards: Deserve Pro offers cashback rewards on every purchase. Cardholders can earn 1% cashback on all eligible purchases, which can add up over time.
- Cell phone protection: Another unique feature of Deserve Pro is its cell phone protection plan. Cardholders who pay their monthly cell phone bill with the Deserve Pro card are eligible for up to $600 in protection against theft or damage.
- Travel benefits: Deserve Pro provides travel benefits such as travel accident insurance, trip cancellation/interruption insurance, and rental car collision damage waiver. These benefits can be valuable for individuals who frequently travel for work or leisure.
Pros of Deserve Pro
Deserve Pro offers several advantages that make it a compelling choice for students and young professionals:
- Easy approval process: Unlike traditional credit cards, Deserve Pro takes into account factors beyond just credit history when evaluating applications. This makes it easier for individuals with limited or no credit history to get approved.
- No foreign transaction fees: For individuals who frequently travel abroad, Deserve Pro is a great option as it does not charge any foreign transaction fees. This can result in significant savings, especially for those who travel internationally on a regular basis.
- Building credit history: Deserve Pro reports to all three major credit bureaus, allowing cardholders to build their credit history over time. This can be particularly beneficial for students and young professionals who are just starting to establish their credit.
Cons of Deserve Pro
While Deserve Pro has its advantages, it also has a few drawbacks that should be considered:
- Lower credit limit: As Deserve Pro is primarily targeted towards individuals with limited credit history, the initial credit limit offered may be lower compared to other credit cards. This can restrict the purchasing power of cardholders.
- Higher interest rates: The interest rates on Deserve Pro can be higher compared to other credit cards, especially for individuals with lower credit scores. It is important for cardholders to pay their balance in full each month to avoid accruing high interest charges.
- Limited rewards program: While Deserve Pro offers cashback rewards, the rewards program is relatively limited compared to other credit cards in the market. Cardholders may find that they can earn higher rewards with other cards.
Case Study: Sarah's Experience with Deserve Pro
To provide a real-life example, let's consider Sarah, a college student who recently applied for Deserve Pro. Sarah had limited credit history and was looking for a credit card that would help her build her credit while offering some additional benefits. She decided to apply for Deserve Pro due to its easy approval process and no annual fee.
Over the course of a year, Sarah used her Deserve Pro card for everyday purchases and paid her balance in full each month. She found the cashback rewards to be a nice bonus, and the cell phone protection plan came in handy when her phone was accidentally damaged. Sarah also appreciated the travel benefits when she took a trip abroad during her summer break.
Overall, Sarah had a positive experience with Deserve Pro. The card helped her build her credit history, provided valuable benefits, and had no annual fee. However, she did notice that the interest rates were higher compared to some other credit cards, so she made sure to pay her balance in full each month to avoid unnecessary charges.
Conclusion
Deserve Pro can be a pro move for students and young professionals who are looking to build their credit history and enjoy some additional benefits. The card's easy approval process, no annual fee, and travel benefits make it an attractive option. However, it is important to consider the lower credit limit, higher interest rates, and limited rewards program when deciding if Deserve Pro is the right choice for you.
Ultimately, the decision to apply for Deserve Pro should be based on your individual financial goals and needs. By carefully evaluating the features, benefits, and drawbacks of the card, you can make an informed decision that aligns with your financial objectives. Remember, credit cards can be powerful financial tools when used responsibly, so choose wisely and enjoy the benefits that come with it.
