The
Blaze Mastercard® Credit Card is an unsecured credit card that can help you build credit. It offers a credit limit of
$350+, provides the opportunity to boost your spending limit up to $1,500 by paying your monthly bills on time, and reports account activity to the major credit bureaus.
The problem is the
Blaze Credit Card costs a lot more to own than other starter credit cards and does not reward you with points, miles or cash back for making purchases. It might also be harder to get than similar alternatives, as you need
fair credit for high approval odds. You can get similar cards with limited or even bad credit.
What I Like About the Blaze Credit CardCan help you build creditIf you get the
Blaze Credit Card, information about your account will be relayed to the three major credit bureaus (Experian, Equifax and TransUnion) each month. This gives you the opportunity to add positive information to your credit reports, which is the key to improving your credit score.
At a minimum, you need to pay the bill by the due date every month. You should also avoid maxing out your spending limit.
Low credit utilization is best for your credit score.
$350 - $1,500 credit limitThe
Blaze Credit Card’s minimum credit limit is
$350, and some people may receive a limit as high as $1,500. The higher your credit score and income are, and the more responsibly you use the
Blaze Credit Card after getting it, the higher your spending limit is likely to be.
Fairly easy to getIf you have a credit score of
640 or higher, you are likely to be approved for the
Blaze Credit Card if you apply. You can
check your credit score for free right here on WalletHub to find out.
In order to qualify, you also need to be at least 18 years old and have a U.S. mailing address as well as a Social Security number.
What I Don’t Like About the Blaze Credit CardExpensive to ownThe
Blaze Credit Card has an annual fee of
$75. That is several times higher than the average annual fee among credit card offers available right now (
$22.29). Many other credit cards for people with
fair credit have $0 annual fees.
No rewardsThe best credit cards for people with
fair credit give you valuable points, miles or cash back to reward you for making purchases. You can expect to earn 1% - 5% back on everything you buy.
With the
Blaze Credit Card, on the other hand, you won’t be rewarded with anything except the lesson to choose a better credit card next time.
High APRThe
Blaze Credit Card interest rate is
29.9% Fixed. As a result, you should avoid carrying a balance from month to month with this card if you can help it. Credit card interest rates are extremely high to begin with, and the
Blaze Credit Card’s APR is still higher than the average for people with
fair credit (
26.41%).
Fortunately, if you pay your full statement balance by the due date each month, interest will not accrue. The
Blaze Credit Card has a
grace period of up to 25 days, from the end of your monthly billing period to your due date.
That said, if you can afford to pay in full each month, you’re better off with a card that has
rewards and no annual fee, even if it’s a
secured credit card.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.