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Verve Credit Card
REVIEW

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Picture of Verve Mastercard®
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By : Mr Credit Card

  • Annual Fee = $0 - $99
  • Monthly Fee (after 1st year) = $0 - $10 a month
  • APR = 25.9% - 29.9%
  • Starting Credit Limit = $300 - $1,000
  • Mobile App
  • Free Vantage 3.0 credit score


Pros Cons
Possible to get card with no monthly fee High APR
Some offers may include 1% cash back rewards Can only apply if you receive mail offer
Review for Credit Limit Increase After 6 Months  
Mobile App  
Free Credit Score  


At A Glance

The Verve Mastercard is from Continental Finance and issued by Bank of Missouri. It is an unsecured credit card targeted at people with 550-680 credit scores. It comes with a range of fees and rates so you might get different terms from other applicants. If your scores are perhaps enar prime, you might possible get card with no monthly fee. If your scores are poor, you might get a version which includes monthly fee from the second year onwards. It comes with a decent starting credit limit ranging from $300 to $1,000 and your credit will be reviewed for credit limit increase after 6 months. Some of you might get offers which includes a 1% cash back rewards. At this moment, you can only apply if you have recevied a mail offer.
 

Card Details



Terms Annual Fee Monthly Fee APR Starting Credit Limit
#1 $99 $0 25.90% $1,000  
#2 $99 $0 25.90% $750  
#3 $99 $0 for 1st year
Then $10/month
29.90% $500
#4 $75 for 1st year
Then $99
$0 for 1st year
Then $10/month
29.99% $300


Fees and Rates

The mail offer you will receive from Verve will be one of the following listed in the table above. The best offer you can find is the one where you are offered a starting credit limit of $1,000, a $99 annual fee and a 25.9% APR.

The second offer has a $700 starting credit limit, a $99 annual fee and no monthly fee with a 25.9% APR.

The third offer has a $500 starting credit limit, a $99 annual fee and a monthly fee of $10 a month from the second year onwards, and a 29.9% APR.

The fourth off has a $300 starting credit limit, a $75 annual fee for the first year followed by a $99 annual fee from the second year onwards. There is also a $10 monthly fee from the second year onwards. The APR is 29.99%.

But bear in mind that there are a couple of features that are common in most Continental Finance credit cards that you might find useful.

Other Features

Cash Back Rewards - Some of you might have gotten mail offers with 1% cash back rewards. The cash back can be earned through regular spending and redeemed via statement credits.

Free Credit Score - You will get a free Vantage 3.0 score from Experian if you enroll in e-statement.

Mobile App - Verve has a mobile app where you can manage your card.

Credit Limit Increase Review after 6 Months - Verve will review your account after 6 months for a credit limit increase.


Compared to other Continental Finance Credit Cards



Verve Mastercard is a card from Continental Finance and they have a few cards. I will compare Verve with other Continental Finance cards.

The are three credit cards from Continental Finance that we should compare this card to. They are the Reflex Mastercard, Surge Mastercard and Cerulean Mastercard. The Reflex and Surge credit cards are very similar. They both have annual fees ranging from $75 to $99. Their monthly fee ranges from $0 to $10 a month. Their starting credit limits range from $300, $500, $750 and $1,000. When you apply for either the Reflex or Surge credit card, you might get a combination cad with a combination of annual fee, monthly fee and starting credit limit and closely resembles Verve. But there is one big difference. Both the Reflex and Surge will double your initial credit limit once you pay our first 6 minimum payments on time. The Verve Mastercard has no such guarantee though they will review your account for a credit limit increase after 6 months.

The other card from Continental is the Cerulean card. Cerulean has a $750 starting credit limit, a $99 annual fee and a 25.9% APR. This is similar to one of the possible offer you might get from Verve. However, unlike the Reflex and Surge, your credit limit will not double after paying on time the first 6 minimum payments.

The Fit Mastercard is another card from Continental Finance. It has an annual fee of $99, a 29.99% APR and a monthly fee from the second year onwards of $6.25 a month. The starting credit limit is $400 which will double to $800 if you pay your first 6 minimum payments on time. The Fit Mastercard is comparable to Verve if the get the version where your starting limit limit is only $300. Here, the Fit Mastercard is slightly better because it has a lower month fee from the second year onwards ($6.25 vs $10 a month). The starting credit limit of the Fit Mastercard is also higher ($400 vs $300) and you will double it to $800 after 6 months with Fit. There is no such provisions in the Verve credit card terms and conditions.


Pros

  • Possible to get offer with no monthly fee - You could get the offer where you get a $750 credit limit, $99 annual fee with no monthly fee

  • Free Credit Score - Cardholders will get a free Vantage 3.0 score from Experian if they sign up for e-statements.

  • Mobile App - Verve has a mobile app (which while common with big credit card issuers, is rare with subprime issuers).

  • Cash Back Available to some customers - Some customers might get 1% cash back in their offer. The cash back can be redeemed for statement credits.

  • Account reviewed for credit limit increase after 6 months - Verve will review your account for credit limit increase if you pay your bills on time for the first 6 months.


  • No doubling of credit limit after 6 months - Other continental finance like Reflex and Surge will double your credit limit after 6 months of paying your minimum payment on-time. As they have similar fees, you might be better off getting those cards instead.


Our Take: Other Continental Finance Cards Are Better Because they 2X your Initial Credit Limit

The Verve credit card from Continental Finance will appeal to those of you with credit scores from the 500 to 600 level. Depending on your credit worthiness, you might get different terms and conditions. If you are considered near prime, you might even get a version with no annual fee. As an issuer, Continental Finance has a mobile app and provides free Vantage 3.0 credit scores to card holders. They also have a track record of credit line increases.

Despite this, other Continental Finance cards like the Reflex, Surge and Fit Mastercard will DOUBLE your initial credt limit after 6 months of paying off your minimum payments on time. Verve only promises a review to increase your credit limit after 6 months rather than a guarantee a doubling of your credit limits like the other cards. If you have gotten a pre-approval mail from Verve, I suggest you try to get pre-approved for either the Reflex Mastercard or the Surge Mastercard as I think you would be better off getting those cards because your limits can double after 6 months.

Based on our evaluations, we give the Verve credit card a review rating of 3.7 out of 5 star for it's decent starting credit limit, their willingness to evaluate you for a credit limit after 6 months, the free Vantage 3.0 score you get and potential of some to get the 1% cash back program. However, Verve lags behind in other cards from it's own company (Continental Finance) in that these other Continental Finance cards will double your credit limit after 6 months of paying on-time.


How to apply?

You can only apply for the Verve credit card if you have received a mail offer. If you have, then you can go to the Continental Finance website and accept your mail offer.

accept mail offer accept mail offer


FREQUENTLY ASKED QUESTIONS

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Can I apply with a co-applicant or as a joint account?

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Can I apply with a co-applicant or as a joint account?

No, you cannot. You can however add an authorized user.

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How long does it take Verve Mastercard to approve my application?

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How long does it take Verve Mastercard to approve my application?

In most cases, the decision is instant. In cases where they need more information, it might take up to 30 days.

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When will I receive my new Verve credit card?

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When will I receive my new Verve credit card?

Your Reflex credit card will be mailed within 3 business days once you are approved.

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How do I activate my verve credit card?

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How do I activate my verve credit card?

You can activate it online


Verve Contact Information

Lost or Stolen Card: 1-800-556-5678

Customer Service and Automated Account Information: 1-866-449-4514
(Available 7 a.m. - 11 p.m. Mon-Fri, 9 a.m. - 4 p.m. Sat Eastern Time)

Payments: 1-800-518-6142
(Available 7 a.m. - 11 p.m. Mon-Fri, 9 a.m. - 4 p.m. Sat Eastern Time)

Mail - Inquiries: Verve Card, P.O. Box 3220, Buffalo, NY 14240-3220

Mail - Payments: Verve Card, P.O. Box 6812, Carol Stream, IL 60197-6812

Online Account Access: www.vervecardinfo.com