CollegiateParent is a proud partner of Deserve. Deserve is a credit card issuer that offers credit cards to students who either lack a credit history or are looking to build or expand.
Deserve doesn’t require students to get a parent to cosign on their application. This independence allows students to build their credit history on their own, without needing to be an authorized user on their parent’s card. A Deserve card helps your student get on the path to financial independence and responsibility.
Deserve offers three credit cards: the Deserve Classic, the Deserve® EDU Mastercard for Students and the Deserve® Pro Mastercard. The features of these cards include:
No security deposit required
A report to two credit bureaus: TransUnion and Experian
No foreign transaction fees
The Deserve Classic credit card is perfect for college students who are new to building credit. It has a low annual fee, and requires a Social Security number.
For applicants with no credit or low credit scores, Deserve uses its own underwriting process and algorithm to evaluate creditworthiness. Cardholders won’t earn any rewards, but they will get the chance to build credit and to potentially upgrade later to the Deserve® EDU Mastercard for Students or Deserve® Pro Mastercard if they have consistent on-time payments and/or show a credit score improvement.
The Deserve® Pro Mastercard credit card is for employed applicants, including new immigrants, who have already started to build or establish credit in the U.S.
The card requires a Social Security number, which is used to determine whether an applicant has established credit. Deserve will then evaluate the applicant’s credit score and other factors to determine their creditworthiness for the card.
Many college students who are initially approved for the Deserve® Edu Mastercard for Students credit card can eventually migrate to the Deserve® Pro Mastercard and will get to keep the length of the account on their credit history, which can help their credit score.
The Deserve® EDU Mastercard for Students is for all eligible students — including international students — who are attending a U.S. college or university and want to get an early start on building credit and earning rewards.
Deserve doesn’t require a Social Security number from international students to apply for this card. For domestic students, Deserve will collect their Social Security number to check for any negative issues on their credit histories. Assuming an applicant passes that check, Deserve uses its own underwriting process and algorithm to approve or deny an application for the Deserve® EDU Mastercard for Students.
Deserve® EDU Mastercard for Students cardholders earn an unlimited 1% cash back on all purchases. Rewards automatically redeem as statement credit in $25 increments. The card also includes an offer for Amazon Prime Student. Deserve will cover subscription fees up to $59. Lifetime Value of $59.
Nerdwallet put together a quick and easy-to-read chart featuring all the benefits of the 3 Deserve credit card choices for college students:
For college students with established credit and high enough credit scores
For college students with little or no credit
Your student’s first credit card can be a gateway to building credit, earning rewards, and learning financial responsibility that can last a lifetime.