Prosper Credit Card

Prosper Credit Card Review

This is a card issued by Prosper Funding LLC. If you're wondering whether Prosper Credit Card is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 23.99% up to 29.99%.
• Annual fee waived the first year. Prosper Credit Card gives you the chance to have the card for a year without paying the $39 annual fee.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% every time you make a transaction outside the U.S.
• Fair or better credit required. You will have good approval odds if your credit score is above 640.

Pros & Cons of Prosper Credit Card

The Good	The Bad
No security deposit is required. No fees for ATM cash withdrawals. Annual fee waived during the first year. Identity Theft Protection. Prosper Credit Card reports to multiple credit bureaus.	Higher than average purchase APRs. Charges an annual fee of $39 (Annual fees vary by year) Does not offer a signup bonus. Does not offer rewards or cash back. Charges a foreign transaction fee of 1%. You don't earn rewards on every purchase.

Prosper Credit Card FAQ

Does Prosper Credit Card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Prosper Credit Card benefits?

It provides the following benefits:

• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for Prosper Credit Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Prosper Credit Card has a variable purchase APR that ranges from 23.99% up to 29.99%. It also has a variable cash advance APR of 29.99% .

What are the fees for Prosper Credit Card?

The following fees apply:

Prosper Credit Card Fees

Description
Cash Advance Fee Minimum	$0
Foreign Currency Transaction Fee	1%
No Annual Fee?
No Foreign Transaction Fee?
No Annual Fee First Year?
Annual Fee	$39
Minimum Interest Charge	$1
No Interest Grace Period for Late Payment	21 days
Late Fee Amount	Up to $40

This card charges a $39 annual fee.

Does Prosper Credit Card report your account activity to credit bureaus?

Yes, Prosper Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Prosper Credit Card

• Visit the Prosper Credit Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.