Deserve® EDU Mastercard® 2023 Review: Cashback Credit Card for International Students

If you are a student and want to get a credit card without much complication then, Deserve Edu is the best credit card for you. You can use this card if you want to tour abroad or if you are living there as a student. It doesn’t charge any annual/foreign settlement fees from you but grants you 1% rewards on your regular purchases. Let’s read the Deserve Edu Mastercard Review and find out more about this incredible credit card.

Deserve Edu Mastercard Description

Deserve Edu Mastercard

Our Rating: 3.9/5

The Deserve Edu Mastercard is for students as it comes up with zero annual & foreign settlement fees and also you don’t need any credit score for approval. It offers a “free Amazon Prime Student” subscription & mobile insurance not only this but you will get revolving discounts & promotions. You will not be able to build credit quickly as it reports to only 2 major agencies instead of 3.

Important Points

  • Credit card issuer: Celtic Bank
  • Grace period: 23 days
  • Credit Score: 580 to 739
  • Annual Fees: $0
  • Purchase APR: 22.49% (variable)

Pros 

  • Zero annual fees
  • 0 foreign setting fees
  • 1% rewards
  • Get a free “Amazon Prime Student” membership
  • Accessible to students that don’t have SSN and credit report

Cons

  • No balance transfers or cash advances
  • No intro APR 
  • Fewer rewards
  • Only for recent students
  • Balance transfers and cash advances are not available

Additional Information

  • It reports only to TransUnion & Experian.
  • In case you lost your card then you can freeze your account to block any new purchases.
  • You can get several benefits from this Mastercard like roadside dispatch, fraud protection, and so on.
  • Manage your account with the iPhone app.
  • You can protect your mobile for $600.

Deserve Edu Credit Card Features

Now, we will some of the features of the Deserve® Edu Mastercard for students in detail:

1. Fees

The Deserve Edu charges affordable fees from you:

  • Late fees: Up to $40
  • Returned payment fee: Up to $40
  • Foreign transaction fee: $0
  • Annual fee: $0

It doesn’t charge any foreign settlement fees that’s why it is best for students who want to study abroad and for those who often visit abroad but outside the US. 

2. Interest Rates

In any month if you fail to pay your balance then Deserve Edu will charge interest at the following rate:

  • Minimum interest charge: $1
  • Regular APR: 22.49% (variable)

The interest rate is not much but if you fail to pay the balance then it can add this charge to your bill. So, if you don’t want to pay extra then make sure that you pay the balance on time.

3. Grace Period

The Deserve Edu Mastercard for students provides you with 23 days as a grace period. This period is for you to pay your bills on time so that you will not forget to pay the balance and you don’t have to pay extra. If you pay the balance within the grace period then they will not charge any interest but if you fail in doing that then they will charge interest at a normal rate. 

4. Rewards

This card offers you a 1% reward on the purchases that you made. But there are some exceptions like

  • Interest & fee payments
  • Foreign currency/travelers check
  • Casino gaming chips, lottery tickets,, or similar betting transactions
  • Wire transfers

5. Redemption

After getting rewards from Deserve Edu, you can get them as your “statement credit”. It is credited to your account which will get deducted from the balance. You must redeem rewards as an increase of $25.

6. Perks

Here is what you will get if you use Deserve Edu card:

  • Cellphone Insurance: Get $600 to cover the damage to your phone.
  • Platinum Mastercard benefits: If you use this card then it will provide you benefits like fraud & ID protection,  roadside dispatch, etc.
  • Amazon Prime Student membership: You can get 1-year membership which is absolutely free but for that, you need to spend $500 within the 1st 3 months. 

7. Credit Limit

There is no specific credit limit for Deserve Edu Mastercard. It will not give you a high credit limit as it is a student card. You can see low credit limits in the case of a student credit card. Also, your credit limit will depend upon your creditworthiness. If you get approved for this card then the limit will be mentioned on your card. 

You don’t have to ask them to increase your credit limit; they will increase it after a particular time. But, you should check if you have been approved for a big amount or not. 

8. Credit Reporting & Building

This card will report only to 2 agencies which are TransUnion & Experian instead of 3. Though, it will help in credit building. Generally, the perfect credit card reports to all 3 agencies and you can build credit more quickly. If you are using this card then it is mandatory for you to make payments on time as it will improve your credit score.  This will open the ways for you to go for an ideal credit card. 

9. Credit Score Requirements

To qualify for Deserve Edu you don’t have to get a good credit score. Just by applying on the website, you can see if you have qualified for it or not. This will help you in determining whether you will get into hard inquiry during the process or they will reject your application.

If this is the case then try to apply for another card as it will affect your credit score. 

10. Application & Approval

You have the option to apply online for Deserve Edu Mastercard. Firstly, you will go through the pre-approval process rather than the main process. The last stage includes a hard inquiry on your report. For international students, they need to provide the:

  • Passport ID
  • A copy of your student visa
  • Proof of a US bank account with a balance
  • A school document (e.g., I-20 or DS 2019)

If you are living in the US or have a green card then you need to show your SSN and link your US bank a/c with a credit card. If you get the approval then you can get the card within a few weeks Or, if you get disapproved then they will send you an email stating the reason for the denial.

11. Managing Your Account

For managing this card you don’t have to go anywhere, you can do it online just by visiting the website & sign in to your account. It doesn’t have an Android version but comes up with an iPhone app. For making payments you can call customer care or send them through the mail.

12. Customer service

For any query or help you can contact customer care they will solve it and even you can mail them. So, you don’t have to worry if you are stuck anywhere. 

Whether the Deserve Edu Credit Card is Good for Me?

If you want to build credit and also want to earn rewards then this card is a great option for you. US students who don’t have any negative marks on their cards must go for another card that can offer better rewards. The Deserve Edu credit card, however, is a clear and simplest choice; you don’t need to supply vast information for applying, & the rewards program is simple. Due to the lack of foreign settlement fees & the widespread acceptance of Mastercard, it’s also not too awful for traveling.

For Whom is this Card Appropriate?

If you come under any category that we have listed below, then Deserve Edu Mastercard for students card is for you:

  • Students with no Mastercard in their Wallets: If you have Visa & Mastercard in your hand and if you want to go overseas for studies. By using these cards you can get several benefits and offers. You can also score good perks & protection. It is also unlikely that you will rush into ATMs or firms abroad that will not accept either Mastercard or Visa if you have both.
  • College students with no Credit History: If you don’t have any credit history and want to build then you can go for a Deserve Edu credit card as it doesn’t require a credit score. 
  • International students: In this, you don’t have to provide an SSN, which you can see only in some credit card options available for international students. As it reports only 2 agencies it will help in credit building in the US & you can get rewards also. 

Comparable Options

You can take into consideration the student cards listed below if you wish to think about some more student cards.

1. Capital One Journey Student Credit Card

Capital One Journey Student Credit Card

Our Rating: 4.5/5

This card offers rewards & bonuses if you make payments on time. It provides $60 as credit for streaming if you pay bills at the right time. But, the major drawback of using this card is that it has more APR and you have to get a credit score. It says if you have a “fair” credit score then you can qualify for this card. It means if you have a score not more than 580 they can disqualify you. 

Important Points

  • Credit Score: 580 to 739
  • Purchase APR: 28.49% (variable)
  • Annual Fee: $0

Pros 

  • Zero annual fees.
  • 0 foreign settlement fees.
  • You will get $60 as a welcome bonus.
  • You can increase your credit limit if you pay bills on time. 
  • Get rewards.

Cons

  • More APR
  • There are no APR offers
  • Comparatively fewer rewards rates

2. Petal 1 Visa Credit Card

Petal 1 visa credit card

Our Rating: 4.0/5

The Petal 1 visa credit card comes with low fees & more benefits and it is good for those who want to build credit at a low credit score or have zero credit record. On this card, you have to show your income & bills for approval. If you haven’t an SSN then you should have ITIN with you. Petal 1 card has more APR & a complex reward system. 

Important Points

  • Credit Score: 300 to 669
  • Purchase APR: 22.99% to 32.49% (variable)
  • Annual Fee: $0
  • Credit Limit: $300 to $5,000

Pros 

  • No need for a security deposit
  • 0 annual fee
  • Zero foreign settlement fees
  • Reports to all 3 agencies
  • Accessible with 0 credit score

Cons

  • Fairly More APR
  • You can’t do cash advances
  • Zero balance transfers
  • No extensive rewards agenda

3. Discover it® Student Cash Back Card

Discover it® Student Cash Back

Our Rating: 4.6/5

This card is only for those students who are studying in the US and have Social Security Numbers. You can do cash Advances & balance transfers. Discover it Student Cash Back card doesn’t have any annual fees and offers rewards to US students. 

Important Points

  • Credit Score: 580 to 739
  • Purchase APR: 15.99%–24.99% (variable)
  • Annual Fee: $0
  • 0% APR Period: 6 Months

Pros 

  • 0 annual fee
  • Zero foreign settlement fees
  • Get rewards
  • Bonus in the 1st year
  • Get Intro APR
  • Zero fees for 1st overdue payments

Cons

  • More APR
  • Complex bonus rewards
  • Less recognition abroad

Final Say

The Deserve Edu receives a rating of 3.9/5 from us overall. Although it’s a fantastic choice for those who wish to study or vacation overseas. However, other things, including prizes, advantages, and cashback, are beneficial. The fact that you don’t need a credit score is the key selling point. So, it’s now simple for you to decide whether to choose this card or not.

Frequently Asked Questions (FAQs)

Q1. Does Deserve Edu help build credit?

It gives you a chance for students to get rewards and perks, and you can also build credit as you don’t have to pay any annual fee/security deposit. 

Q2. Is Deserve Edu only for students?

Yes, it is for students only who want to study abroad or want to travel. 

Q3. Does Deserve Edu do a hard inquiry?

If applicants don’t have an SSN or credit record then it might be possible that they do a hard inquiry on that. 

Q4. What credit score do you need to get a Deserve credit card?

It’s easy to get a Deserve credit card as it doesn’t require a fair credit score like other cards.

Q5. How long does Deserve Edu take to approve?

The approval or review process can take three business days. 

Q6. What is the cash advance fee to Deserve Edu Mastercard for students?

Cash advances are not available if you use Deserve Edu Mastercard.

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