Is Blaze A Real Credit Card? Of coz it is, but before I proceed, what is Blaze Mastercard? The Blaze Mastercard is an unsecured credit card specially designed for people working on building their credit. After having made six monthly payments, cardholders may be eligible for an increase in the credit line, but they pay an annual reimbursement and authorized user costs.
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Is Blaze A Real Credit Card?
Is Blaze A Real Credit Card? The Blaze Mastercard is a fair credit card with which people can build their creditworthiness. This is a credit card with a low fairy that was developed for people with an average loan.
Pros and Cons of Blaze Credit Card
Advantages
- Unsecured credit line access
- Qualify for an increased credit line
Cons
- Valuable costs
- No rewards
- Higher than average Apr
Pros and Cons of Blaze Credit Card Explained
· Advantage
Unsecured Access to Credit Line: If you have no credit or no credit at all, you can often only be eligible for safe credit cards, for which you can deposit hundreds of dollars as a down payment. If saying goodbye to your hard-assembled money is not attractive, the Blaze Mastercard can be a solid alternative. You can be eligible for this card, even if you have less Vellair credit and gain access to an uncovered credit line.
Being Eligible For An Increased Credit Line – cardholders who keep their account in good reputation with timely payments can be eligible for a credit line increase in just six months. Many cards for people with bad credit have no clear timeline to be eligible for an increase in the credit line. It is a good advantage to get more purchasing power in less than a year.
· Disadvantages
Precious Costs – Before requesting the Blaze Mastercard, you must be aware of two major costs:
Annual Reimbursement – You will be assessed an annual fee of $ 75 before using this card, and the reimbursement lowers the amount of the available credit. For example, if you have been approved for a $ 350 credit line, the costs would lower the available credit to $ 275.
Authorized User Costs – adding an authorized user, such as a spouse or partner, to the account will earn an annual fee of $ 20.
Although high costs are typical of cards for people with poor credit, other credit cards do not charge them. The map of the petals is another option for someone who builds his credit history. Also, an unsecured card has no annual costs, foreign transaction costs, authorized user costs, or late payment costs.
No Rewards – unfortunately, the Blaze Mastercard has no reward program. You do not earn points, miles, or cash back when you use your card. Although that is common for cards that are designed for people with poor credit, it is still disappointing. If you are willing to apply for a secure credit card instead of an unsecured credit card and put down a repayment paid, you can find options that offer rewards.
For example:
The Discover IT Secured Card has no annual reimbursement and you can earn 2% cash to $ 1,000 that is spent every quarter on gas stations and restaurants, and 1% in cash on all other purchases. Even better, Discover will match all the money that you earn as a cardholder during your first year, so that your rewards are effectively doubled.
To put that in perspective, say that you spent $ 6,000 on your Discover IT Secured Card: $ 1,000 every quarter at gas stations and restaurants and $ 2,000 on other purchases. You would earn $ 100 in rewards. But thanks to Discover’s Cash Back match, Discover would return all the money you have earned, giving you $ 200 in rewards.
Higher than average April: according to the Federal Reserve, the average APR on all credit cards was just over 17.13%, from August 2021. The purchase of Apr on the Blaze Mastercard is 29.9%much higher than the national average. If you wear a balance on your card from month to month, a higher APR will lead to much more interest costs.
To place these numbers in the right light, we call your credit card via Credit from USD 1, an APR of 17.13%and a monthly payment of USD 35 of 294 US dollars in interest costs. If you had a credit of $ 1,000 for a credit card with 29.9% Apr and a monthly payment of 35 US dollars, you take 51 months to pay your debts and you would pay interest costs of 770 US Dollars. The higher APR would cost 476 US dollars for extra interest. If you tend to wear a remaining quantity, search for another card with a lower Apr, e.g. B. The credit one bank -platinum -visa card.
This card is most suitable for loan builders
If you do not have a credit story or poor credit and do not want a safe credit card, the Blaze Mastercard can be a good option. You have access to an uncovered credit line and can be eligible for an increased credit line in just six months.
Although you calculate costs, this card can be a useful instrument for making your loan, because it reports its payment activity to large credit agencies. If your credit improves and you can qualify for other credit cards, you can close your account to prevent future costs.
Standard benefits
- The Blaze Mastercard offers only a few advantages, but has:
- Limited liability protection
- Security warnings
- Online account access
Card owner experience
The Blaze Mastercard is exhibited by the First Savings Bank located in South Dakota, a smaller map exhibitor who is not in the study by J.D. Power on Credit Card Satisfaction by J.D. Power has been recorded.
Customer service can be reached 24 hours a day, seven days a week, under 605-782-3472.
Security functions
This card offers standard security functions, including 24/7 account blocks. You are also never responsible for non -authorized transactions if your card is lost or stolen as long as you inform the first savings bank.
Conclusion – Is Blaze A Real Credit Card?
Is Blaze A Real Credit Card? If you have tried to qualify for other credit cards and have not been requested a secure map, the Blaze Mastercard is a decent alternative. You have access to an uncovered credit card and can be eligible for an increased credit limit in just six months. The map calculates the reimbursements, but this compromise can be justified if your goal is to prevent a large down payment.