Verve Credit Card Review: Fees, Benefits, and More Key Points:
Verve Credit card is issued by the Bank of Missouri, in partnership with Continental Finance. Fees: One-Time- $0Annual Fee- $75 – $175 1st yr, $49 – $175 afterMonthly Fee- $0 intro 1st yr, up to $12.5 afterAPR On Purchases – 29.99% – 35.9% (V)No provision for rewards or cashback. Do you suffer from bad credit scores? You would be startled to know that according to reports published by Badcredit.org , more than 16% of Americans have bad credit, which hinders them from taking out loans or reputable credit cards. For those suffering from low credit scores, Verve Credit Card is one of the best solutions to boost your credit score.
Compared with other pre-approval credit cards for bad credit, the Verve card stands out as it does not levy restrictions on using it at a particular store or place.
To learn in-depth about the benefits, fees, and other options you have for raising your credit score, it is advised to read through the Verve credit card reviews.
Verve Credit Card Overview For those with poor credit and who require a small loan, the Verve Credit Card is the best-unsecured credit card choice. The Bank of Missouri issued the Verve Mastercard, a rebuilder credit card from Continental Finance.
Created in association with Verve International, the Verve credit card offers a safe and easy online transaction experience. This is a subprime credit card. Continental Finance credit cards feature a high-interest rate, a $75–$125 yearly fee that is waived the first year, and a possible $10 monthly fee .
Your credit score and the credit card offer you are accepted for will determine the annual fee amount and whether you bear a monthly cost or not. The good news is that, if you make on-time payments for six months, they will double your original credit limit, which is up to $2,000.
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Benefits of Verve Mastercard There are several benefits to the Continental Finance Verve Credit Card; let’s look at some of them in detail.
Verve will increase your first credit limit by double to $2,000 after six months of on-time payments. Yourvervecard.com routinely sends information about your one-time payment behavior to Equifax, TransUnion, and Experian, the three credit bureaus. Solves the problem of bad credit .It does not charge for adding authorized users. It manages credit protection initiatives. Additionally, it also offers protection against fraudulent charges with its $0 liability guarantee.
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Drawbacks of Verve Mastercard After reading various Verve card reviews, we should discuss some of its drawbacks as well. We have mentioned all of its main drawbacks in the points below:
It levies heavy fees on foreign transactions. Users do not earn rewards or cashback when they use this card. It has a lower credit limit than other cards in the marketplace. They do not have provisions for safeguarding user’s information and lack safety protocols. Verve Card has weak and non-available customer support. Yourvervecard.com has a very high APR on purchases. Furthermore, if you are not pre-qualified, the application process is relatively complicated.
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Verve Card: Fees and Other Charges It is crucial to be aware of the fees, APR, and other charges of the card to understand if it fits your budget. So here’s the breakdown:
Annual Fee : $75 – $175 1st yr, $49 – $175 afterMonthly Fee : $0 intro 1st yr, up to $12.5 afterAPR : 29.99% – 35.9%Cash Advance Fee: 3% or $10Cash Advance APR: 29.99% – 35.90%Foreign Transaction Fee: 3%Maximum Late Fee: $41Maximum Overlimit Fee: $0Grace Period: 25 days
These are the fundamentals you need to keep in mind before making the decision. Moving ahead, let’s see who this card is best suited for.
Who Should Get the Verve Card? As per my research and the Verve Mastercard reviews you would read online, most of the credible sources and websites won’t recommend you get a Verve card.
You might be wondering what the possible reasons are for such Verve Mastercard reviews; so let’s unravel the reasons one by one.
The skyrocketing high APR, limited benefits, zero reward system, unavailable customer support, and annual fee make it a poor choice. Apart from this card, there are many credit cards that offer fair credit and are loaded with reward systems/benefits, which is a better option for customers.
People who have terrible credit scores and who do not have any other option left apart from the Continental Finance Verve Credit card should opt for this card. However, be prepared to deal with poor customer service.
A Comparison Between Verge Credit Card and Its Alternatives There is a pool of credit cards that can easily overshadow and beat Verve credit cards; let’s run our eyes over them and draw a comparison between yourvervecard.card and its alternatives.
Basis Verve Credit Card Fortiva Mastercard Credit Card Navy FCU Credit Card Minimum Deposit Not Required Not Required $200 APR 29.99% 22.74% 18.00% Monthly Fee $0 intro 1st year, up to $12.5 after $0 1st year, $5 – $12.50 after $0 Annual Fee $75 – $175 1st year, $49 – $175 after $49 – $175 1st year, $0 – $49 after $0 Reward Rate None None 1 point per dollar on eligible net purchases Ratings 1.7 2.7 4.4
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Verve MasterCard Customer Support Whether you need help with the activation procedure or want to know more about account benefits, you can contact the customer helpdesk directly.
Verve Credit Card Customer Service Phone Numbers are as follows:
General Inquiries: (866) 449-4514Apply for a Verve Card with Pre-Approval: (866) 449-4514 Report a Stolen or Lost Card: (866) 449-4514The company has a great team of experts who are always eager to resolve your issues.
Conclusion: Is Verve a Good Credit Card? If you are looking for a final answer to “Is Verve a good credit card”? To summarize, in my opinion, if you want to significantly improve your credit score, the Verve card can help. But, there’s a price you have to pay for it.
The company charges tons of fees, high APR, and has some quite confusing terms. Moreover, customers do not get any rewards for earning potential.
Users have also reported that the Verve credit card has a terrible customer support system, which is mostly out of reach. Additionally, it has also been brought to notice that users often feel difficulty closing their credit card accounts with Verve.
We would say if you are comfortable paying fees and a smooth credit building procedure, you can go with it. However, if you can not afford to pay a high interest rate, you must explore and find another card.
FAQs Ans: Yes, it is backed by several banking institutions and international bodies. Under license from Mastercard International, The Bank of Missouri, a Member of FDIC, issues this Verve Mastercard Credit Card.
Ans: If your only purpose and motive is to rebuild your credit scores, then you can make use of the Verve platinum credit card. Aside from that, if you want good rewards, it is a bad choice.
Ans: Verve Credit Card Customer Service Phone Numbers are as follows:
General Inquiries: (866) 449-4514
Ans: It can be used for cash advances as well as purchases anywhere Mastercard is accepted. Although hefty fees are a significant drawback, this unsecured card can be helpful for those trying to restore credit because it is available to those with poor credit.
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