By : 
Mr Credit Card
Mr Credit CardExecutive Summary
The Surge Mastercard requires you to go through a pre-approval process and you may be offered one of 4 versions of their cards. Each version has a different credit limit and fees. You may be offered the $300, $500, $750 and $1,000 credit limit version. What is interesting about the Surge Mastercard is that your credit limit will double from the initial limit you are given after 6 months if you pay your first 6 bills on time.
The Arro Mastercard is one of the rare unsecured credit card that does not perform any hard inquiry. Instead, you have to meet a certain monthly income threshold and have a minimum bank balance to get approved. Arro is one of the easiest unsecured credit card to get approved for if your FICO scores are the in 500s.
In this comparison, we will find out which is the better card.
Similarities
- Both are unsecured credit cards targeting those with bad credit or no credit
- Both are Mastercard
That aside, they are quite different. Let's take a look at our different they are.
Differences
Arro has lower fees
Arro's Fee - The Arro Mastercard has much lower fees than the Surge Mastercard. With Arro, you have to pay $1/month year during the first year. This works out to $12 annually. From the second year onwards, you will have to pay a $3/month fee, which works out to $36 annually. Depending on which version of Surge you compare Arro to, Arro's fees are lower by $89 - $139. That is a huge savings in fees.Surge Credit Card Fee - The Surge Mastercard has 4 different versions and each has different fees. There is the $300, $500, $750 and $1,000 credit limit versions. The $750 and $1,000 limit versions both have an annual fee of $125.
The $500 credit limit version also has an annual fee of $125. However, from the second year onwards, there will be a monthly fee of $10/month ($120 annually).
The $300 credit limit version has an annual fee of $75 during the first year. From the second year onwards, the annual fee increases to $99 and a monthly fee of $10/month is charged to the cardholder.
Both have different starting credit limits and maximum limits
Arro's Inital Credit Limit - Arro's will start you off with a credit limit ranging from $50 - $200. But you can easily increase your credit limit by taking financial literacy courses on your Arro mobile app. Each course that you complete will result either in an immediate increase of you credit line or a reduction in your APR.Arro's Maximum Credit Limit - The maximum credit limit with Arro Mastercard is $2,500.
Surge Initial Credit Limit - The starting credit limit of the Surge Mastercard could be either $300, $500, $750 or $1,000. After 6 months of paying your bills on time, your credit limit double to $600, $1,000, $1,500 and $2,000 respectively.
Surge Maximum Credit Limit - The maximum credit limit you can get is $4,000.
Arro has a lower APR
The APR for Arro is 16% versus 29.9% for the Surge Mastercard. As mentioned earlier, Arro will lower your APR if you complete certain financial literacy courses from their app.Arro does not rely on FICO scores
Arro does not rely on FICO scores to determine your credit worthiness. Instead they have 3 criterias:- Minimum Monthly Requirements - You need a minimum monthly income of $1,800 to apply for Arro.
- Minimum Bank Balance - You bank account must have a minimum positive balance of $50.
- Link your bank account to Arro - Arro requires you to link your bank account to them via PLAID. This enables them to verify your income and bank balance required to approve you. It also enables you to set up autopay.
Surge requires a FICO score of at least 600
Surge is like most unsecured credit cards that rely on FICO scores to approve you. You will need a FICO score of at least 600 to get pre-approved and ultimately to be approved for a Surge card application.Which is better? Arro is easier to get approved and has lower fees and APR
Ways which Surge is better than Arro
The Reflex Mastercard has better starting credit limit than the Arro Mastercard. They will also double your credit limit after six months. Their maximum credit limit is also higher than that of Arro's.Ways which Arro is better than Surge
The Arro Mastercard has much lower fees than Reflex. From the second year onwards, you will pay a total of $36 in fees to be paid monthly. The lowest fee you pay for the Surge credit card is $125 (and that is only on the $750 and $1,000 version).Arro Mastercard is has a lower onging APR. It is 16% versus 29.9% for the Surge Mastercard. 29.9%. 16% is a very low rate of any type of credit card.
Arro is also a much easier credit card to get because it does not not rely on FICO score. Instead you need to earn at least $1,800/month and have a positve bank balance of at least $50. You must also be willing to link your bank account to Arro via PLAID. With the Surge Mastercard, you need a FICO score 600 or higher to have a chance of getting approved.
In Conclusion....
If your FICO score is at least 600 and you are looking for an unsecured credit card with a high limit, then I would go through the pre-approval process of the Surge Mastercard and see if you can get pre-qualified for the $750 or $1,000 version. These versions have a very good starting credit limit that will double after 6 months as well.But if your FICO scores are less than 600 and/or you want to pay the lowest fees for your credit card, then the Arro Mastercard would be the obvious choice over the Surge credit card because it has much lower fees, much lower APR and is also much easier to get approved as long as you meet their income and bank balance approval criteria.