Prosper Credit Card–No Security Deposit Required

The Prosper Credit Card is a credit card designed for those with fair credit looking to improve their credit rating. You won’t have to put down a security deposit, and you can start with a relatively high credit limit. However, it has a sky-high APY and doesn’t offer any rewards for using the card, so it’s best for users who will pay the entire balance at the end of the month. It has an annual fee of $39, waived for your first year if you sign up for AutoPay before your first statement. We dive into the details and your approval odds in this Prosper Card review.

Our Rating

4.6/5.0

Welcome Offer

None

Annual Fee

$39, waived for your first year if you sign up for AutoPay before your first statement

0% on Purchases

None

Reward Rate

N/A

0% on Balance Transfers

None

Features & Benefits

SecurityCredit Score Monitoring, EMV Chip Enabled, Fraud Monitoring, Zero Liability
Contactless PaymentsApple Pay, Google Pay
BenefitsChoose your due date, 24/7 customer service
Travel PerksNone

Rewards

Interest Rates & Fees

Annual Feewaived for the first year with autopay
Foreign Transaction Fee1% of the transaction amount
Regular APR20.49% to 31.49% (V) APR

What Credit Score Is Required to Get the Prosper® Card

The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use numerous factors in their underwriting process, and these factors can change at any time.

Lowest Approved Credit Score: 717

Average Approved Credit Score: 732

App StatusDateCredit ScoreBureauCredit Limit
Approved02/12/2022
742
TransUnion
$1,900
Approved02/12/2022
717
Experian
$1,900
Approved02/12/2022
737
Equifax
$1,900

Pros & Cons

Pros
  • No security deposit
  • Good credit limits
Cons
  • Annual fee
  • No welcome bonus
  • No rewards
  • High APR
  • Foreign transaction fee

What Are the Best Alternatives?

Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card

Rating

4.5

Rewards Range

N/A

Annual Fee

$0

Capital One Platinum Credit Card
Capital One Platinum Credit Card

Rating

4.4

Rewards Range

None

Annual Fee

$0

Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card

Rating

4.4

Rewards Range

1.5%

Annual Fee

$39

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