The Blaze Mastercard offers those with less-than-ideal credit a chance to work on their credit score without excessive fees. The cost-effective card doesn’t require a security deposit to qualify and won’t charge you activation fees, monthly maintenance fees or other expensive fees. It’s issued by First Savings Bank and serviced by Capital Services in South Dakota.
Blaze Mastercard Details
If you have less than perfect credit, using a credit card responsibly can be an effective strategy for repairing it.
But how do you qualify for a credit card when your score is low? This is where the Blaze Mastercard may be able to help.
Here are some key stats about this unsecured credit card designed specifically for people who want to rehab their credit.
- Issuing Bank – The Blaze Mastercard is issued by First Savings Bank.
- APR – All cardholders pay a fixed APR of 29.9%.
- Annual Fee – All cardholders pay a $75 annual fee. Some cardholders have left online reviews saying they got First Savings Bank to waive the annual fee after a couple years of on-time payments and responsible use.
- Credit Limit – Most people start out with a $350 credit limit, but those with higher credit scores report receiving up to $1,500.
- Credit Line Increases – Users who pay their bill on time and maintain an account in good standing are eligible to receive a limit increase after six months.
- Secured vs. Unsecured – The Blaze Mastercard is an unsecured credit card, which means you don’t have to put down a security deposit.
- Customer Service – Customer service is based in the United States and reported to be excellent.
- Mobile App – Use the free mobile app to manage your account and receive alerts via text when you near your spending limit or your payment due date is approaching.
At $75, the Blaze Mastercard’s annual fee is higher than most other unsecured credit cards. If you want to forego the restrictions of a secured card, however, the higher than average annual fee might be worth it.
Pros and Cons of Blaze Mastercard
Blaze Mastercard Pros
Here are the positives of the Blaze Mastercard, and the reason the card generally scores high marks among users.
Easy to Get Approved
The Blaze Mastercard is marketed toward people with fair to poor credit, which means you don’t need a high credit score to get one.
This is good news if you’re in the market for a new credit card and don’t want to rack up a bunch of hard inquiries that can pull down your credit score.
No Deposit Required
Because the Blaze credit card is an unsecured card, you don’t need to come up with a security deposit when you open your account.
On the other hand, you’ll probably receive a relatively low credit limit if your credit is low. On the plus side, you can usually get this increased if you use your card responsibly for at least six months.
No Hidden Fees
People with bad credit often have few options when it comes to credit cards, and many of these options saddle you with loads of hidden fees.
The Blaze card comes with no hidden fees. You won’t pay any surprise maintenance fees, setup fees, or monthly service charges.
Increase Your Credit Limit
Like most cards designed for people with bad credit, Blaze typically starts you out with a $350 credit limit. However, most people are eligible to receive an increase as long as they make all their payments on time for six months.
Because a higher credit limit can boost your credit score, this is a great perk for those looking to repair their credit.
Superb Customer Service
Users around the web report being impressed with the prompt and easy-to-reach customer service associated with the Blaze credit card.
Knowing you can quickly reach a live human on the phone can give you peace of mind as you go about repairing your credit.
Reporting to Credit Bureaus
Blaze Mastercard will report your on-time payments to all three credit bureaus, so you can rest easy knowing your good credit practices are getting recorded.
Blaze Mastercard Cons
Like a lot of credit cards made for those with poor credit, Blaze Mastercard has a few drawbacks. Here are six to watch out for.
High Annual Fee
As with the majority of cards offered to people with bad credit, the Blaze card comes with a higher than average annual fee. Cardholders pay $75 per year, which can seem high when you consider that many people will only receive a $350 credit limit.
However, you can ask for a higher limit after around six months of good credit use. This means paying your bill on time and keeping your credit utilization below 30 percent.
Additionally, several reviews online mention cardholders may be able to get the annual fee waived after a couple years of responsible credit use.
Low Credit Limit
Unless your credit score is good, you probably won’t get a very high credit limit with the Blaze Mastercard. Most cardholders report receiving a $350 credit limit to start.
However, some users with higher credit scores say it’s possible to get a credit limit as high as $1,500. This does seem to be an exception rather than a rule, however.
At 29.9 percent, Blaze Mastercard’s APR is on the high side. This rate can hurt you financially if you carry a balance each month.
If you aren’t sure you’ll be able to pay your card off each month, it might be better to look for alternatives to the Blaze Mastercard. Otherwise, you could end up racking up interest from month to month.
Limited Max Credit Line
The Blaze credit card’s credit limit maxes out at $1,500. If you’re looking to really boost your credit utilization rate, this lower limit probably won’t be much help.
Rewards Are Extra
The Blaze card offers some cash back rewards, but you have to pay for a premium membership to access them. At $4.95 a month, the extra fees might not be worth it for most people.
Unclear Terms on Credit Limit Increases
Blaze doesn’t explicitly spell out what it takes to qualify for a credit limit increase. Although many people report that it takes about six months to qualify for a bigger credit limit, you won’t find this in writing anywhere in the card’s terms and conditions.
You can always contact Blaze Mastercard customer service and request a higher credit limit. However, there’s no guarantee you’ll get one.
How to Apply for Blaze Mastercard
Applying for a Blaze Mastercard is a straightforward process. You should be able to accomplish it in three steps.
1. Check Your Credit Score
This step is optional, but it’s a good idea to know your credit score before you apply. While the Blaze Mastercard is known for approving applicants with lower credit scores, it helps to know just where you stand before you submit your application.
You can get your credit score for free by signing up for the Discover Scorecard. It’s totally free, and it takes roughly five minutes to submit your information and get your score.
If your score is low, you should get your free copy of your credit report so you can see what’s pulling down your score. That way, you can take the necessary steps to improve your credit score before you apply for a credit card.
2. Submit Your Application
The Blaze Mastercard application is available online. It asks for basic identifying information, as well as your gross annual taxable income, annual non-taxable income, and monthly rent or mortgage.
When you’ve filled everything out, you can submit your application with the click of a button.
5 Things to Know About the Blaze Mastercard
1. It charges an annual fee
The Blaze Mastercard has a $75 annual fee — but you may not have to be stuck with it forever. After establishing a record of on-time payments and managing your account responsibly, you can contact customer service to ask about qualifying for a lower fee, according to Alfred Furth, portfolio chief and senior vice president at Capital Services.
2. The credit limit is potentially generous
The Blaze Mastercard offers a maximum credit limit of $1,500 for those eligible and a minimum credit limit of $350. At the higher end, it’s more generous than the one you might get with a secured credit card. After all, your credit limit is typically only as high as the amount you deposit.
3. Late payments won’t hike up your APR
With the Blaze Mastercard, your credit score may suffer if you miss a payment, but you won’t get punished with a penalty APR — an interest rate higher than your card’s purchase APR that may be applied to your account balance over several months, increasing your bill. There’s a late fee of up to $25 if you miss a payment, but that’s still on the lower end considering that late fees can run as high as $40 in some instances.
4. It has reasonable fees
Aside from late fees, the Blaze Mastercard may charge a returned payment fee of up to $25 and a cash advance fee of 2% per transaction. Beyond those potential charges, though, the Blaze Mastercard is a reasonable and affordable option because you won’t have to worry about monthly fees, activation fees or other pricey fees.
5. You can get a PREMIUM Club membership to access discounts
Cardholders have the option of choosing the PREMIUM Club membership, which offers discounts on prescriptions, hotels, dining, car rentals and entertainment. The membership costs $4.95 per month (about $60 annually) and is included on your billing statement.
Blaze Mastercard Reviews
was approved for $1500.00. I called about $75 fee, was told I had 3 options 1. waive the fee 2. decrease APR from 29.9% to 19.9% for 6 mos 3. increase limit additional $300.00. advised I would take the decrease APR of 19.9%. was advised to call back in 6 months and they would decrease the APR even lowerkim
Horrible card! I’ve had my card for a year with no credit limit increases and upon requesting the increase myself was denied even though my credit is actually better now I’ve almost paid off my card in full several times and always made payments on time but somehow still denied a increase heavy fees this card is absolutely not worth it much better choices out thereHeather
4 Best Blaze Mastercard Alternatives
1. Amex EveryDay Credit Card
|REGULAR APR (%)||12.99% – 23.99% variable|
|REWARDS EARNING RATE||Earn 2 points per $1 at US supermarkets on up to $6,000 per year. Earn 1 point per $1 for other eligible purchases.|
2. Citi Rewards Student Card
|REGULAR APR (%)||14.49% – 24.49% variable|
|INTRO PURCHASE APR||0% for 7 Months|
3. Citi Rewards
|REGULAR APR (%||13.49% – 23.49% variable|
|REWARDS EARNING RATE||Earn 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases.|
4. Citi Double Cash Card
|REGULAR APR (%)||13.99% – 23.99% variable|
|REWARDS EARNING RATE||Earn 2% unlimited cash back on every purchase you make: 1% when you buy plus 1% as you pay.|
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