WalletHub Rating
2.5/5
The Prosper® Card is a good credit card for people with fair credit who will use autopay for the monthly bills. Cardholders enrolled in autopay get a $0 annual fee the first year, making the card a worthwhile option for building credit. Info about the Prosper® Card has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.
WalletHub Rating Breakdown
User Reviews
2.5/5
96 reviewsRead and write reviews
Editor’s Review
2.9/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
2.5
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Improve Credit by Paying in Full Each Month” for this card.
Fees
2.8
Rewards
0.0
Cost
2.9
Other Features
2.5
2.5/5
Compared against 1,500+ credit cards
KEY TERMS
Accepted Credit Scores
Accepted Credit Scores
Fair Credit
Annual Fee
$0 intro 1st yr with auto pay, $39 after*
APR on Purchases
24.24% - 35.24% Variable
Balance Transfer
Balance Transfers Not Allowed
Prosper® Card's Additional Info
No security deposit required
$0 first year annual fee with AutoPay
Instantly access 50% of your credit while your card ships to you
$0 ATM cash withdrawal fee
You’ll be reviewed for regular credit line increases
show more
Editor's ReviewFact checked
Fact checked
John Kiernan, Managing Editor
April 16th, 2024
Fact Checked by Alina Comoreanu
Senior Researcher
Prosper® Card Pros & Cons
Qualify with fair credit
No security deposit required
Membership fees
No rewards
High regular APR
Foreign fee
Prosper® Card Review
2.9 / 5
The Prosper® Card is a good credit card for people with fair credit who will use autopay for the monthly bills. Cardholders enrolled in autopay get a $0 annual fee the first year, making the card a worthwhile option for building credit.
The downsides of this offer are its high APR and lack of rewards. Carrying a balance from month to month will result in expensive interest charges, and making purchases will not produce points, miles or cash back.
Prosper Card Review Highlights
$0 - $39 annual fee
The Prosper Card’s annual fee is $0 the first year for new cardholders who sign up for autopay prior to their first monthly statement being generated. Otherwise, the annual fee is $39.
For comparison, the average credit card offer has an annual fee of $22.29. Furthermore, there are lots of credit cards for fair credit with no annual fee.
Monthly credit-bureau reporting
The Prosper Card will report your account information to TransUnion each month, helping you improve your credit score as long as that information reflects on-time payments and low credit utilization. You can track your progress with free credit reports and scores from WalletHub.
24.24% - 35.24% Variable APR
If you’re approved for an account, your APR will be anywhere from 24.24% to 35.24% Variable, depending on your overall creditworthiness. So it’s best if you pay your bill in full every month.
No rewards
Unlike the best credit cards for fair credit, the Prosper Card does not give cardholders points, miles or cash back in return for making purchases. This is a big drawback.
Not available to PNC banking customers
Unfortunately, if your primary bank account is from PNC, you won’t be able to use the Prosper Card. This may change in the future, though.
Applying won’t hurt your credit
There’s no hard inquiry into your credit history when you apply for the Prosper Credit Card. As a result, applying won’t cause a temporary drop in your credit score, unlike with other cards.
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Compare The Prosper® Card vs. Popular Alternatives
 Prosper® Card |  Citi Double Cash® Card |  Capital One Platinum Credit Card |
|---|---|---|
2.5WalletHub Rating WalletHub Rating 2.5 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 2.9 User Reviews 2.5 Market Comparison 2.5 fees: 2.8 rewards: 0.0 cost: 2.9 Other Features: 2.5 | 4.9WalletHub Rating WalletHub Rating 4.9 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 5.0 User Reviews 3.4 Market Comparison 5.0 fees: 5.0 rewards: 5.0 cost: 5.0 Other Features: 5.0 | 3.6WalletHub Rating WalletHub Rating 3.6 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 5.0 User Reviews 3.6 Market Comparison 3.4 fees: 5.0 rewards: 0.0 cost: 3.3 Other Features: 4.5 |
annual fee$0 intro 1st yr with auto pay, $39 after* | annual fee$0 | annual fee$0 |
rewards rate | rewards rate | rewards rate |
bonus offer | bonus offer | bonus offer |
Purchase Intro APRNot Offered | Purchase Intro APRNot Offered | Purchase Intro APRNot Offered |
transfer intro aprNot Offered | transfer intro apr0% for 18 months|Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer | transfer intro aprNot Offered |
Regular APR24.24% - 35.24% Variable | Regular APR19.24% - 29.24% (V) | Regular APR29.99% (V) |
Prosper® Card Q&A
Can't find what you are looking for? Submit your question about Prosper® Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card. In addition, WalletHub independently collected information for some of the cards on this page.
Most Popular
Does the Prosper Card have pre-approval?
Reply
7
Chip Lupo, Credit Card Writer
@CLoop
Yes, the Prosper® Card does have pre-approval. Prosper requires applicants to check for pre-approval before they can apply, so you will have a good idea of your approval odds if you choose to apply. Getting pre-approved for a Prosper® Card means that your chances of being approved for an account are very high if you apply, but it does not mean that approval is guaranteed.
Prosper® Card pre-approvals do not affect your credit score, as they're done using a soft “pull,” or inquiry. But if you decide to apply for the Prosper® Card, Prosper will conduct a hard inquiry, which will lead to a slight but temporary decrease in your credit score.
1
Upvote
How can I reach the Prosper Card customer service?
Reply
1
Maria Adams, Credit Cards Moderator
@m_adams
The easiest way you can reach the Prosper® Card customer service is by giving them a call at(800) 903-4697. Alternatively, you can contact them viaemail.
How to reach the Prosper® Card customer service over the phone:
- Call(800) 903-4697.
- Enter you 16-digit card number and the press the pound key (#).
- If you want to speak to a live representative directly, ignore the prompts. Just stay on the line and you will...
1
Upvote
What's the starting credit limit for the Prosper Credit Card?
Reply
1
Maria Adams, Credit Cards Moderator
@m_adams
The starting credit limit for the Prosper® Card is at least $500. Everyone who gets approved for this card is guaranteed this limit. However, depending on your credit standing, you could get a much higher credit limit. The higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
Keep in mind that you can ask to get a credit limit increase by calling the Prosper customer service at the...
21
Upvotes
What credit score do you need for the Prosper Credit Card?
Reply
21
Maria Adams, Credit Cards Moderator
@m_adams
You need a credit score of 640 or higher to get the Prosper® Card. That means people with at least fair credit have a shot at getting approved for this card.
Other Prosper® Card Approval Requirements
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Prosper® Card, too. Some other key criteria include your income, existing debt...
6
Upvotes
How much is the Prosper Card cash advance limit?
Reply
Maria Adams, Credit Cards Moderator
@m_adams
Unfortunately, Prosper doesn't disclose the exact Prosper® Card cash advance limit. But the cash advance limit is usually a portion of your card's credit line. You can find your exact cash advance limit by logging in to your online account or by viewing your latest monthly statement.
It's also good to keep in mind that ATMs can have their own withdrawal limits, so you may not be able to take out your full cash advance limit at every ATM.
Things to Know About Prosper® Card Cash Advances
Prosper® Card cash advances are extremely expensive transactions. For starters, there is a cash advance APR of 35.24% Variable that applies as soon as you withdraw the cash. The Prosper® Card comes with a $0 cash advance fee but you may have to pay an ATM-owner fee.
1
Upvote
Does Prosper Card do a hard inquiry?
Reply
1
Chip Lupo, Credit Card Writer
@CLoop
Yes, the Prosper® Card does a hard inquiry on your credit report when you apply. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time. The hard inquiry allows Prosper to determine your credit risk and ultimately decide whether you'll be approved for an account.
The Prosper® Card requires fair credit to be approved. You can check your credit score by signing...
5
Upvotes
Is the Prosper Card a good first time credit card?
Reply
5
Chip Lupo, Credit Card Writer
@CLoop
No, the Prosper® Card is not a good first-time credit card because it is only available to people with fair credit or better. People who've never owned a credit card are unlikely to get approved unless they've built fair credit through other means. There are plenty of good first-time credit cards on the market, though.
Best First-Time Credit Cards
Rates & FeesOverall:Capital One Platinum Credit CardCapital One Platinum Credit CardLearn MoreLearn Moreon issuer's website- Rates & FeesStudents:Capital One SavorOne Student Cash Rewards Credit CardCapital One SavorOne Student Cash Rewards Credit CardLearn MoreLearn Moreon issuer's website
- Cash Back:Petal® 2 Visa® Credit CardPetal® 2 Visa® Credit CardLearn MoreLearn More
- Rates & FeesBest Rewards:Capital One QuicksilverOne Cash Rewards Credit CardCapital One QuicksilverOne Cash Rewards Credit CardLearn MoreLearn Moreon issuer's website
- No Credit Check:OpenSky® Secured Visa® Credit CardOpenSky® Secured Visa® Credit CardLearn MoreLearn Moreon issuer's website
You can learn more about the best first-time credit cards on WalletHub.
3
Upvotes
Is Prosper Card metal?
Reply
3
Chip Lupo, Credit Card Writer
@CLoop
The Prosper® Card is not a metal credit card, as it is made of plastic like most other credit cards. There's no functional difference between a plastic card like the Prosper® Card and a metal credit card, though, so don't dismiss the Prosper® Card just because it isn't metal. If you like the card's terms and benefits, you should still consider applying.
Metal credit cards are usually expensive luxury cards. Some popular examples of metal credit cards...
3
1
Upvote
What is Prosper Card minimum payment?
Reply
1
Chip Lupo, Credit Card Writer
@CLoop
The Prosper® Card minimum payment is $30 or 1% of the statement balance, plus fees, past-due amounts, and interest – whichever is higher. If the statement balance is less than $30, the Prosper® Card minimum payment will be equal to the balance. In addition, if you recently missed a payment, Coastal Community Bank may add a late fee to your minimum payment.
The minimum payment is the smallest amount you're required to pay by the due...
1
Upvote
Does the Prosper Card report to credit bureaus?
Reply
1
Chip Lupo, Credit Card Writer
@CLoop
Yes, the Prosper® Card reports to the credit bureaus every month, within days after the cardholder's billing period closes. Prosper reports the card's credit limit, account balance, and payment history to all three of the major credit bureaus: Experian, TransUnion, and Equifax.
Once the Prosper® Card reports your account information to a credit bureau, it may take a few days from when the bureau receives the info before the updates appear on your credit report. Keep...
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Prosper® Card Reviews
Share your insights and review for the Prosper® Card
5
18%
4
15%
3
10%
2
20%
1
38%
2.5
96 reviews
96 reviews
What's Your Rating?
Most Recent
Jason Cain
@jccain25
5 Star Rating
I have had the Prosper credit card since August of 2023. My credit is a little below fair, but they gave me a credit limit of $1,600. About four days before Christmas, they raised my credit limit to $2,500.00, and I used most of it to buy my girlfriend a Samsung smartwatch and a new phone. My credit was pretty much maxed out. I paid the card off in late February after doing a consolidation loan from a credit union. After the card was paid off, I received notification that my credit limit was increased again to $3,100.00. I have absolutely nothing negative to say about this card. I love my Prosper card, and I've had zero issues using it. I never made just the minimum monthly payment; I always tried to pay a little extra, and that effort has paid off. I had to initially set up auto-pay, which I was a little nervous about, but they have been a good company to do business with. I've had no issues using the app for login or payment, so don't be afraid to get this card.
Comment
mike brauchle
@mikebrauchle
1 Star Rating
Only leaving a one-star review because there isn't an option for zero stars. After two years, I requested a new card because of an unauthorized charge. I set up recurring payments as before, yet, despite their supposed experience and knowledge, they tried to withdraw a payment from an account that isn't mine, nor is it listed as a payment option for payments. After repeated calls and over three months of back and forth, they keep moving my payment date to six days later and one dollar less than my minimum due. I'm constantly receiving letters requesting more than required every month, no matter how many calls I make or visits to the website. Plus, all the phone representatives show a lack of interest and understanding when I explain the letter I have from them and provide detailed information, yet they still deny it is their problem and not mine. I don't know how or where they get their information from, or who is authorized to change information once entered, but changes were made. So because of that, I am done. Both my wife and I had separate cards, and both are now closed. I strongly recommend everyone looks to do business elsewhere, as this is a major scheme to extract money from people.
Comment
Delma Tosado
@delmairis
1 Star Rating
Received by mail an offer. I have fair credit. Didn't approve anything. People with good credit use major brands. They are a low-profile brand that wants only high-class customers.
Comment
Daniel Ngong
@ngongdaniel1234
1 Star Rating
Please stay away from this scam. I closed my account more than 60 days ago, and these individuals still access my account and charged me $39. I have once paid $75 for a one-day late fee after they disabled notifications, causing me to miss the due date. Over the 3 to 5 months that I was with them, I paid over $150 in late fees. I have four credit cards and have never paid late fees on any of them. I do not recommend this service.
Comment
marygreene71
@marygreene71
1 Star Rating
Every time I buy something from it, they say denied, yet give me a lot of credit. So from now on I just pay my bill and I cut the card up and threw it away. Terrible service is my review.
Comment
Tripp Harrison
@trippharrison20
1 Star Rating
I do not understand how this issuer is legally allowed to operate. They miss every auto-pay. They have limited access hours. Their agents say they do not have access to all your account information. This is either an unorganized mess of a company or a scam - the fact that Credit Karma represents them is a total deal-killer for me with Credit Karma - I'll NEVER trust a recommendation from them.
Comment
pmprompt1
@pmprompt1
1 Star Rating
Worst card ever in history, they allowed fraud charges on my card and refuse to help out in any way even after calling 6 times and sending my license to them 3 times, you’ve been warned!
Comment
startrader76
@startrader76
2 Star Rating
Good for building credit. Your basic transactions will trigger the security measures then will shut the card off. As long as you never have to use/rely on the card. Customer service is complete trash and DGAF.
Comment
Mark DeFazio
@manilowmaniak
1 Star Rating
This company seemed sketchy at best from the beginning, but when I registered my card it said that I needed to sign up for autopay to avoid the annual fee of $39 for the first year only. That's where it began to get even more sketchy. You do not have the option of getting autopay yourself until you make a purchase and you also cannot input your payment methods for online payments either. On top of that I read all the bad reviews and I decided to get out only days after receiving my card. Don't bother with small companies like this.
Comment
1
1
judusjones
@judusjones
1 Star Rating
Do not get this card they will never give you a credit limit increase. No matter how well you manage the account and your other credit card accounts. Skip this card
Comment
1
Review Prosper® Card
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* WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Prosper® Card and Petal® 2 Visa® Credit Card
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