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Prosper Card Review 2024

Prosper Card Review

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Updated March 7, 2024

Prosper is a credit card that helps build your credit without a security deposit. The fees are minimal, and the possible automatic credit line increases are convenient. It’s a decent choice for borrowers with poor credit.


Prosper® Card

Prosper® Card

Credit score
Annual fees
Bonus rewards

TIME’s Take

card_name is an unexciting, but solid credit card for those looking to rebuild their credit. It doesn’t charge a bunch of junk fees or require a security deposit. It also doesn’t charge ATM fees for cash withdrawals, which is a useful perk.

For borrowers who want an unsecured card that can help to build credit, card_name can be a good stepping stone. However, if you already have a good credit score, cards with better benefits and interest rates should be available to you.

Pros and cons


  • No cash withdrawal ATM fees (exclusive of the fees charged by the ATM itself)
  • Automatic credit line reviews can lead to increases
  • No annual fee the first year if you set up AutoPay
  • No minimum credit score required
  • No hard credit check
  • No security deposit
  • Mobile app helps you track spending
  • Credit decision in minutes


  • Maximum credit limit of $3,000
  • High APR of reg_apr,reg_apr_type
  • Annual fee of annual_fees
  • Doesn’t offer graduation to a better card

Who is the card for?

card_name is for people with troubled credit who don’t want to put down a deposit for a credit card. Applying for it is a straightforward process, and the application doesn’t require a hard credit check, so it won’t affect your credit score. There is no minimum credit score requirement.

There’s also no annual fee charged for the first year (annual_fees) and no penalty annual percentage rate (APR). Cardholders are initially approved for credit lines between $500 and $3,000, and interest rates range between reg_apr,reg_apr_type.


Prosper has a few features that make it stand out from similar credit cards. These include:

No security deposit

You don’t have to put any money down to obtain this card.

No ATM fees

The card doesn’t charge ATM fees for cash withdrawals. This is a nice perk, but it doesn’t include fees charged by the ATM provider, nor does it exclude the cash_advance_apr APR charged for cash advances.


You can be approved for the card without a hard credit check, which means that your credit score won’t be affected. You’ll also be able to view the terms for which you qualify. For example, if you only qualify for a small credit limit at the highest APR, you’ll see that up front.

No minimum credit score required

The card looks at factors such as your income, debts, and credit history in addition to your credit score when considering your approval. Still, not every borrower with a low credit score will be accepted.

Automatic credit line reviews

Your card usage is regularly reviewed, which can lead to automatic credit line increases or decreases. It depends on your payment history and eligibility.

Immediate access to credit

You can access half of your credit limit immediately upon approval by adding the card to your digital wallet. The full limit is available once you receive your physical card.

The fine print

card_name is issued by Coastal Community Bank, and the card’s credit limits range between $500 and $3,000. The interest rate is between reg_apr,reg_apr_type, which is on the high end.

Foreign transaction fees are foreign_transaction_fee, which is surprisingly low for a credit card. There’s no penalty APR, but late_payment_fee fee.

Additional hidden perks

There aren’t many benefits associated with this card. However, it does come with:

  • Fraud protection.
  • A mobile app.
  • AutoPay capabilities.
  • Access to free financial education content.

What could be improved

Prosper’s high APR is not ideal. Additionally, there’s no upgrade option once your credit is good enough to qualify for a card with better rewards and rates. This gives customers little reason to keep their Prosper card.

Card alternatives

Credit score needed
Annual fees
Bonus rewards

Bottom line

If you’re looking for a solid credit card without a security deposit or junk fees, this one qualifies. card_name doesn’t charge ATM fees, foreign transaction fees are only foreign_transaction_fee, there’s no penalty APR, and the annual fee is waived the first year. There are automatic credit reviews that can lead to credit limit increases (though decreases are also possible).

Unfortunately, the card isn’t going to grow with you. It’s useful while you’re improving your credit, but once you do, you’ll want to move on to other cards with better rates and rewards.


Prosper® Card

Prosper® Card

Credit score
Annual fees
Bonus rewards

Frequently asked questions (FAQs)

Is card_name a real credit card?

Yes. It’s a Mastercard issued by Coastal Community Bank.

What is the starting credit limit of the card_name?

The starting credit limit is $500, but it can increase to as high as $3,000 if you use it responsibly.

What credit score is needed for card_name?

There is no minimum credit score needed to qualify for a Prosper credit card.

Can you use the Prosper credit card instantly?

Fifty percent of your credit limit is available immediately after approval if you add the card to your digital wallet. The full limit is available once you receive the physical card.

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