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The Deserve Mastercard is issued by Celtic Bank, Member FDIC.
The Deserve EDU Mastercard for Students is not currently accepting applications. Best Credit Cards for Students Check back soon for more options for the same, and for updates on when the application will resume.
If you’re an international student or looking to build a credit history, the Deserve® EDU Mastercard* for Students and the Petal® 1 “No Annual Fee” Visa® Credit Card* (issued by WebBank) are good options.
Here’s a comparison of these two student credit cards and some tips to help you decide which one is best for your situation.
Key details
Deserve® EDU Mastercard for Students | Petal® 1 “No Annual Fee” Visa® Credit Card | |
|---|---|---|
| Welcome Bonus | Not applicable (We are not currently accepting new applications) | N/A |
| Reward Rate | 1% cashback on all purchases | None (but you can earn certain cash back through the Petal Perks program) |
| Getting Started APR | N/A | N/A |
| Normal APR | 22.99% change | 25.24% – 34.74% change |
| Annual Fee | $0 | $0 |
Deserve EDU Mastercard and Petal 1 Visa Highlights for Students
Welcome Bonus Winners
Payout Rate Winner
Foreign Transaction Fee Winners
Which card will earn you the most?
While the Deserve EDU Mastercard gives you a flat 1 percent cash back on all purchases, meaning you have more potential to earn points, the Petal 1 Visa can’t guarantee you a specific rate or participating merchants on any purchase.
Either way, let’s look at a simple spending example to get an idea of how much you could earn as a Deserve EDU credit card holder.
Example of expenditure
For example, let’s say you spend $1,500 per year with your Deserve EDU Mastercard for Students. That means you’ll earn a $15 statement credit per year. While that’s not a huge amount, the card also offers other valuable benefits, which we’ll explain below. Of course, the more you spend, the more cash back rewards you’ll get.
On the other hand, while you may be able to earn some cash back through the Petal Perks program, the Petal 1 Visa doesn’t offer a standard cash back rate, so any cash back you earn will likely be sporadic and less than the standard cash back you can earn by spending with your Deserve EDU Mastercard for Students.
Why should I get the Deserve EDU Mastercard for students?
Here are some additional benefits of the Deserve EDU Mastercard for students to keep in mind as you decide whether to apply for it when applications reopen in the future: (Note: The Deserve EDU Mastercard for students is currently not accepting new applications.)
Additional Benefits
- Mobile Phone Protection: If your device is damaged or stolen, you’ll get cell phone protection of up to $600 per claim (up to $1,000 per year for two claims). To get this coverage, you must pay your cell phone bill with your Deserve EDU Mastercard. For a card designed for people with limited or no credit history, that’s a great perk.
- Applying without a Social Security Number: One of the unique perks of the Deserve EDU Mastercard is that you don’t need a social security number to apply and be approved, making it a great option for international students.
- MasterCard Platinum Benefits: As a cardholder, you’ll enjoy Mastercard Platinum benefits, including identity theft protection and Mastercard Airport Concierge.
- Rental Car Damage and Collision Damage Waiver: If you need to rent a car (like for spring break), you can rest easy knowing you’re protected with secondary coverage from your Deserve EDU Mastercard.
Exchange Options
Rewards are calculated at the end of each billing cycle and automatically redeemed as statement credits in increments of $25. However, cash back rewards cannot be redeemed if your account is delinquent or over-limit.
Recommended Credit Score
There is no minimum credit score required, making this card a good option for students looking to build a credit history.
Why do I need to get a Petal 1 Visa?
To determine if the Petal 1 “No Annual Fee” Visa Credit Card is worth it to you, consider these perks:
Additional Benefits
- Higher credit limits: The Petal 1 Visa offers a higher-than-average initial credit limit for a starter card ($300-$5,000), which can help you keep your credit utilization low when spending.
- Possibility of increasing your credit limit: If you make on-time payments for six months, your credit limit will be automatically increased.
- Traditional Visa Card Benefits: Visa credit cardholders can enjoy the network’s zero liability protection (coverage against fraudulent purchases if your card is lost or stolen) as well as a range of other services, including emergency card replacement, curbside dispatch and emergency cash payments.
Exchange Options
Through the Petal Perks program, you can redeem rewards as statement credits, request an ACH transfer, and see if your redemption amount is over $20. You can find this information on the Perks page in your Petal account.
Recommended Credit Score
While a good credit history is recommended, it’s not the only factor Petal uses to determine your eligibility for the card: When you apply, Petal will create a Cash Score based on factors such as your banking history, income, and bill payment history.
Conclusion
The Deserve EDU Mastercard and the Petal 1 “No Annual Fee” Visa for students are both good options for students looking to build credit, but be sure to thoroughly research your options before choosing a student credit card, including those on our list of the top student credit cards.
Also, please note that the Deserve EDU Mastercard for Students is not currently accepting new applications. If you already have the card, you may be able to take advantage of the benefits described here. If you don’t have the card but would like one, you’ll need to wait to see if applications reopen in the future.
*Information about the Deserve® EDU Mastercard and Petal® 1 “No Annual Fee” Visa® Credit Card for Students was collected independently by Bankrate. Card details have not been verified or endorsed by the issuer.
