The Blaze Mastercard markets itself as the “go-to card for people to begin reestablishing their credit.” If you want to repair your credit without using a secured credit card, you can choose the Blaze Mastercard.
With high customer feedback and no needed security deposit, the Blaze Mastercard might be a fantastic option for anyone seeking to improve their credit score.
This Blaze Mastercard review has all the pertinent information.
The OpenSky® Secured Visa® Credit Card is our card of choice for people seeking to restore their credit.
The OpenSky® Secured Visa® Credit Card does not need a credit check and does not require a regular bank account; you may fund the deposit and pay your bill using a money order.
If you have less-than-perfect credit, the responsible use of a credit card can be an effective technique for restoring it.
You are able to increase your credit score.
Get Going Now
But how can someone with a poor credit score qualify for a credit card? Here, the Blaze Mastercard may be of assistance.
Here are some essential statistics regarding this unsecured credit card intended exclusively for people seeking credit rehabilitation.
- Issuing Bank – First Savings Bank issues the Blaze Mastercard.
- APR – All cardholders pay a 29.9 percent fixed APR.
- Annual Cost – Each cardholder is charged an annual fee of $75. Some cardholders have stated in online reviews that after two years of on-time payments and good use, First Savings Bank waived their annual charge.
- Credit Limit – The majority of people begin with a $350 credit limit, while those with stronger credit scores may receive up to $1,500.
- Credit Line Increases – After six months, users who pay their bills on time and keep their accounts in good standing are eligible for a limit increase.
- Secured versus Unsecured – The Blaze Mastercard is an unsecured credit card; thus, no security deposit is required.
- Customer Service – According to reports, customer service is situated in the United States and is outstanding.
- Mobile App – Use the free mobile app to manage your account and receive text alerts when your spending limit is about to be reached, or your payment is due.
The annual cost of the Blaze Mastercard is $75, which is more than most other unsecured credit cards. If you wish to avoid the constraints of a secured card, the above-average annual cost may be worthwhile.
The Pros and Cons of Blaze Mastercard
Every credit card has pros and cons. Consider the following advantages and potential cons if you are interested in the Blaze Mastercard.
Six Pros of Blaze Mastercard
Here are the benefits of the Blaze Mastercard, as well as the reason why the card normally receives great ratings from cardholders.
Simple to Obtain Approval
The Blaze Mastercard is aimed at people with fair to bad credit; thus, a good credit score is not required to qualify.
This is fantastic news if you’re in the market for a new credit card and don’t want to lower your credit score with many hard queries.
2. No Deposit Required
Due to the fact that the Blaze credit card is an unsecured card, there is no security deposit required to create an account.
Conversely, if your credit is poor, you will likely obtain a relatively limited credit limit. On the good side, if you use your card properly for at least six months, you may often request an upgrade.
3. No Hidden Fees
When it comes to credit cards, people with poor credit typically have limited alternatives, and many of these options come with a multitude of hidden costs.
The Blaze card does not have any hidden costs. There are no hidden maintenance costs, setup fees, or monthly subscription expenses.
4. Elevate Your Credit Limit
Like the majority of cards geared for people with poor credit, Blaze often begins with a $350 credit limit. However, the majority of people are entitled to an increase if they complete all payments on time for six months.
Due to the fact that a greater credit limit might improve your credit score, this is a significant benefit for people attempting to repair their credit.
5. Outstanding Customer Service
Users around the Internet are reportedly thrilled with the Blaze credit card’s rapid and simple customer care.
Knowing you can contact a live person on the phone immediately might provide you with a piece of mind while you work to repair your credit.
6. Communicating with Credit Bureaus
Blaze Mastercard will report your on-time payments to all three credit agencies, allowing you to rest easy knowing that your good credit habits are being documented.
Six Cons of the Blaze Mastercard
Like many credit cards designed for individuals with bad credit, the Blaze Mastercard has a few disadvantages. Here are six to be wary of.
High annual charge
The Blaze card, like the majority of cards provided to people with poor credit, carries a higher-than-average annual charge. Cardholders pay $75 each year, which may seem excessive when considering that many people obtain a credit limit of only $350.
However, you can request a higher limit after approximately six months of responsible credit utilization. This involves timely bill payment and maintaining your credit usage below 30 percent.
Several internet evaluations also indicate that cardholders may be eligible to have the annual charge eliminated after two years of acceptable credit use.
Low Credit Capacity
With the Blaze Mastercard, you generally won’t receive a very high credit limit unless you have an excellent credit score. The majority of cardholders initially receive a $350 credit limit.
However, some customers with stronger credit ratings claim it is feasible to obtain a $1,500 credit limit. This appears to be an anomaly rather than the norm.
3. Exorbitant APR
The APR on the Blaze Mastercard is rather high at 29.9 percent. If you carry a balance each month, this rate might harm your finances.
If you are uncertain about your ability to pay off your card each month, you may want to consider alternatives to the Blaze Mastercard. Otherwise, you might find yourself accruing monthly interest charges.
4. Maximum credit line limit
The maximum credit limit for the Blaze credit card is $1,500. If you wish to significantly increase your credit use rate, this lower limit is certainly of little assistance.
Rewards Are Additional
Accessing the cash-back incentives associated with the Blaze card requires a paid premium membership. Monthly payments of $4.95 may not be worthwhile for most people.
Uncertain Terms Regarding Credit Limit Increases
Blaze does not specify the eligibility requirements for a credit limit increase. Although many people claim that it takes roughly six months to qualify for a higher credit limit, you won’t find this information in the terms and conditions of the card.
You can contact Blaze Mastercard customer support at any time to seek an increase in your credit limit. However, there is no assurance you will receive one.
Standard vs. Secured Credit Cards: What’s the Difference?
The Blaze Mastercard is an unsecured credit card; thus, there is no deposit required to start an account.
Secured credit cards offer both advantages and disadvantages. If you are looking for a credit card that would allow you to rehabilitate your credit, you should investigate the pros and cons of secured credit cards.
Do You Qualify to Apply?
The simplicity of qualification for the Blaze Mastercard is one of its most attractive features. According to cardholders, approval is reasonably simple, making this card a decent option for those with less-than-perfect credit.
The online application for the Blaze card requests basic information, such as your name, social security number, and address.
When completing the application, you must also state your income. If you have stable employment with a consistent income, you should have no trouble qualifying for the card.
When you apply, First Savings Bank will retrieve your credit report, and your credit score will play a crucial role in deciding your eligibility.
However, other customers claim they were authorized just a few months before their bankruptcy was discharged.
It goes without saying that a higher credit score will increase your approval chances. However, a substantial card of the cardholder with bad credit has been issued cards.
Three Steps to Obtain a Blaze Credit Card
The application process for the Blaze Mastercard is uncomplicated. It should be possible to complete in three phases.
Check Your Credit Score First
This step is optional, although it is recommended that you know your credit score prior to applying. While the Blaze Mastercard has a reputation for accepting applicants with lower credit ratings, it’s important to know where you stand before applying.
By enrolling in the Discover Scorecard, you may receive your credit score for free. It takes around five minutes and is completely free to enter your information and receive your score.
If your credit score is low, you should obtain a free copy of your credit report to see what factors are dragging it down. Before applying for a credit card, you can take the required actions to enhance your credit score.
(2) Complete Your Application
The application for the Blaze Mastercard is available online. It requests your basic identifying information as well as your annual gross taxable income, annual nontaxable income, and monthly rent or mortgage payment.
After completing all required fields, you can submit your application with the click of a button.