For many years, applying for a credit card has been a standard process. Upon completing an application, the financial institution would review your personal information, along with your FICO score and credit history, to arrive at a final decision.
While this process remains, some credit card issuers, such as Deserve, are taking a step into the future.
With machine learning and a focus on alternative data, Deserve is helping the next generation of consumers gain access to high quality credit card products.
Rather than focus solely on your FICO score and credit history, Deserve takes a different approach. With its proprietary algorithm, the company takes into consideration factors such as current financial health and habits. This provides a better idea of your future credit potential.
The Deserve Pro credit card is one of the company’s leading offers. Here are some of the features that make it a popular choice:
1. Mastercard Platinum Benefits
With the Deserve Pro credit card, you gain access to a variety of Mastercard Platinum benefits. This includes but is not limited to the following:
- Online monitoring dashboard
- Monthly risk alert and newsletter
- Identity monitoring
- Lost wallet assistance
- Single bureau credit monitoring
These may not be the types of benefits you think about when comparing credit cards, but they’re nice to have once you’re a cardholder.
2. Cash Back on Purchases
Deserve Pro gives you cash back for every purchase you make. Here’s how it works:
- 1 percent cash back on all purchases
- 2 percent cash back on restaurants
- 3 percent cash back on entertainment and travel
With this arrangement, you’ll receive cash back for doing nothing more than using your credit card.
3. No Annual Fee
Many credit cards with a robust cash back program charge an annual fee of $100 or more. This isn’t the case with the Deserve Pro credit card, as you gain access to a cash back program, among other benefits, without any annual charge.
4. Competitive APR
Even if you don’t plan on carrying a balance from month to month, you still want to choose a credit card with a competitive APR. You never know when your plans will change in the future.
The Deserve Pro credit card has a variable APR ranging from 17.99 percent to 24.99 percent.
It’s not the lowest APR you’ll come across, especially if you have good or excellent credit, but it’s still competitive.
5. Membership to Priority Pass Select
The Priority Pass Select program provides access to airport lounges around the world.
The Deserve Pro credit card comes with a complimentary one-year membership if you make $1,000 in purchases within 90 days of activating your card.
This is a must-have benefit for those who travel.
The Deserve Pro credit card is unique to the industry, as your application is reviewed with machine learning and a focus on alternative data.
Upon review, you’ll find that the Deserve Pro credit card stacks up well against the competition. It’s up to you to decide if it’s what you’ve been looking for!