- for Building Credit72
- for Everyday use70
Blaze MasterCard Credit Card - Is It Worth the $75 Annual Fee?
Blaze isn't technically a secured card, though it's terms, fees and interest rates are very similar to one. That means that it isn't a great card, and it doesn't offer rewards or other perks. The good news is that just about anybody can qualify for it, no matter what their credit history is. You can also use it anywhere MasterCard is accepted, making it a good card for building credit.
While you won't have to put down a security deposit, the Blaze card has an annual fee. There are a lot of other cards that offer similar benefits and don't charge a fee . Check out our list of those cards here.
The Blaze card and most secured cards report to the major credit bureaus. That means that if you keep up with your card payments, your credit score will go up. You’ll be able to qualify for an even better card in no time. Then you can start thinking about getting one of those great cashback cards so you can earn rewards for your everyday spending.
Blaze Credit Card Features and Benefits
Make no bones about it; Blaze MasterCard is for individuals with poor credit or no credit history. These are not premium, feature-packed credit cards, and you won’t earn cash back or free travel when you use them.
What Blaze and secured cards can do is provide you with the convenience of having a credit card no matter what your credit score looks like. Blaze is a fully functioning card. You can use it anywhere that MasterCard is accepted. That makes a lot of purchases a heck of a lot easier.
Whether you’re buying something online or making a hotel reservation, this card will do the trick. There are a lot of merchants that favor credit cards, and you won’t have to worry about that anymore.
The Blaze MasterCard can also help you improve your credit score. Just use it and keep up with your payments, and you’ll be on your way to a no-fee credit card.
It’ll be no time at all before you’ll qualify for an even better card. You might even be able to earn free travel and cash back. There are so many great cards on the market, you should start working on your credit score so you can get one soon.
What You Get
- Easy approval, even with poor credit
- Works anywhere MasterCard is accepted
- Build your credit score
- Fully refundable security deposit
- No hidden fees
- No penalty APR
- $25 maximum late fee
- Keep your account in good standing with on-time payments and you may improve your credit rating.
The card has a $75 annual fee. While it might be worth paying that fee for the opportunity to build your credit score, there are other options with smaller fees or no fees at all.
The APR for this card is high at 29.90% Variable±, and there is no promotional or introductory financing offer. The good news is that the APR will not go up if you miss a payment. Many cards will increase the APR several percentage points if you make a late payment.
The other bit of good news is that the late fee maxes out at just $25. Many cards will charge you a lot more than that for missing a payment. You will also be charged $25 if your payment is returned for any reason, such as a bounced check.
How Much Will You Earn With Blaze Credit Card?
Unfortunately, the Blaze card does not offer any rewards or cash back. It is simply a tool to help you build your credit score while giving you the convenience of a fully-functional MasterCard.
If you want to earn cash back or other rewards for your spending, you need to have at least good credit. If you do, then the Blaze card is not for you. There are plenty of excellent cashback and travel cards available that will better fit your needs.
Should You Get the Blaze MasterCard?
If you have bad or no credit, the Blaze MasterCard may be a good option for you.
You will have to pay a $75 annual fee. It may be a small price to pay for the convenience of having a credit card, but be sure to check out all of your options before applying. There are some secured cards that charge less. There are even a few that have no annual fee at all.
Don’t forget, this is a fully functional card that can be used anywhere MasterCard is accepted. That means you won’t have to jump through hoops to rent a car, reserve a hotel room or make online purchases. Just use your Blaze card.
This card can also be a great tool for building your credit. Just use it regularly and pay your bills on time, and your credit score will quickly improve. You’ll be ready for a no-fee, cashback card in no time.
If you qualify for a standard credit card, then you should skip the Blaze card. It has a high annual fee for a card that offers relatively few benefits. It also has a very high APR, which can cost you a lot if you have to carry a balance.
With fair to excellent credit, you can even get a card that will reward you for your spending. There are a lot of fantastic cashback cards that have no annual fee.
If you do get the Blaze MasterCard, then your goal should be to work up to a proper cashback card. We’ll take a closer look at some of those cards below.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- Yes, the Blaze card can be used anywhere MasterCard is accepted. It works just like any other credit card, so you can make a hotel reservation, rent a car, make online purchases and payments, buy a meal at a restaurant or pay for anything else you want.
- There are a variety of secured credit cards on the market. With those cards, you have to provide a security deposit for the total amount of your credit line. While it's not ideal to have to make a security deposit, many secured cards won't charge you an annual fee. The deposit is fully refundable if you keep up with your payments.The Blaze MasterCard, on the other hand, does not require a security deposit. Instead, you have to pay an annual fee and potentially be subjected to other charges, such as the card's high interest rates.
- Unfortunately, it is not. You have to pay an annual fee of $75. However, you do have a few options for cheaper or even free secured cards .If you improve your credit score, you can easily find a better card that does not charge an annual fee. Many of those cards will, in fact, reward you for purchases you make by giving you cash back.There are a few other fees associated with the Blaze card that you should be aware of. If you miss a payment, you’ll be charged an up to $25 late fee and 29.90 percent interest on your balance. There is no penalty APR, which is a nice perk. Returned payments, such as checks that do not clear, also incur a $25 fee.You can also add an authorized user to your card for $20 a year. An authorized user gets a separate card, but it’s still tied your account. Be sure that you trust anyone that you make an authorized user because you will be responsible for all of the purchases they make.
- The Blaze card is a great tool to help you build a credit history and improve your credit score. If you use your Blaze card or a secured card regularly and make your payments on time, your score will get better.It’s always a good idea to avoid carrying a balance on your card. Not only will you have to pay for the interest, which is always charged at a high rate, but it can actually hurt your credit score.FICO, one of the major credit bureaus, suggests that your debt-to-credit ratio should stay below 30 percent. That means that your total debt should be less than 30 percent of your total credit.For example, if you have a credit limit of $1,000 on the Blaze card and $500 on another credit card, your total credit would be $1,500. So you should not carry more than $450 in total debt on both cards since that’s 30 percent of your total credit.If you follow these simple rules (pay your bills on time and don’t carry a balance that’s greater than 30 percent of your total credit limit), then you should see your credit score improve. Once it gets high enough, you should qualify for a standard credit card that does not charge an annual fee. Your credit limit should increase over time, too.
Compare Blaze to Other Credit Cards
The Blaze MasterCard isn’t the only credit card on the market for people with bad or no credit. If you need a secured card to help you build your credit, you should also consider the Capital One Secured MasterCard and the OpenSky Secured Visa.
Compare the Blaze Credit Card to Other Secured Cards
|Sign-up bonus||0 cashback||0 cashback||0 cashback|
|APR On Purchases||29.90% Variable±||26.99% (Variable)||18.64% Variable±|
|Second Year Value||$0||$0||$0|
The Capital One Secured MasterCard has a few benefits you won’t find with the Blaze MasterCard. One of the best aspects of the card is that the amount of your security deposit is determined by your creditworthiness.
If your credit isn’t quite as bad as it could be, you might get away with putting just $49 or $99 down for a $200 credit line. You may still be asked to put down the full $200, though, and you can’t get a limit higher than $200 when you open an account.
The other great thing about the Capital One card is that you’ll get a higher credit limit after making just five monthly payments on time. And you don’t have to put down an additional deposit for that.
Capital One is an issuer who has a lot of great cards. Once you improve your credit score by keeping up with your secured card, Capital One will consider you for a better card in their lineup. You can even get pre-qualified through their website.
It’s worth noting that this card may be slightly harder to get than other secured cards. While you can get approved with poor credit, you probably won’t get the card if you don’t have a current bank account and if your income isn’t high enough to easily cover your monthly bills, among other considerations.
The Capital One Secured MasterCard has no annual fee.
The issuer of the OpenSky Secured Visa takes a different approach. They believe that everyone should have the chance to build their credit, making this one of the easiest cards to get. There’s no credit check, and you don’t need a bank account. You can make the initial security deposit and pay your bills via debit card, wire transfer, check or money order.
You will be required to make a security deposit for the entire amount of your credit line, which can be $200 to $3,000. You will also have to pay a $35 annual fee, which is lower than the Blaze card.
While the OpenSky card can help you build your credit since it reports to all three of the major credit bureaus, the issuer does not offer any other cards. You will not be able to upgrade your OpenSky account to a card with an unsecured line of credit unless you apply with another issuer.
Given these excellent options for secured credit cards, the Blaze MasterCard doesn’t seem like the best choice. If you can qualify for either the Capital One or OpenSky cards, that would be the way to go. If not, the OpenSky card has all of the benefits of the Blaze card, but for $40 less in annual fees. Check out our complete list of secured cards .
The Best Cashback Credit Cards
If you already qualify for a proper cashback card, there’s no reason to get the Blaze MasterCard. Just apply for one of the excellent cards listed below. If you can’t get one of these cards yet, use them as an incentive to pay your bills on time and improve your credit score.
- Chase Freedom®
$150 bonus offerRead Review
- Citi® Double Cash Card – 18 month BT offer
Earn cash back TWICE. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.Read Review
- Chase Freedom Unlimited®
15,000 points offerRead Review
Best Cashback Card
The Citi Double Cash card has no annual fee and can earn 2.0 percent back on every purchase. That’s the best return you’ll find for a fixed-rate cashback card.
The catch is that you don’t automatically get the full 2.0 percent. You’ll get 1 percent back when you make a purchase and an additional 1 percent after you pay for it. That’s great if you always pay your card off in full, but if you tend to carry a balance, this might not be the card for you.
Best Rotating Category Card
Earn a 150 points bonus with the Chase Freedom after spending $500 in the first three months of card membership. Get 5 points per dollar spent on select rotating bonus categories. The points you earn with this card will never expire as long as your account is open. There’s also no limit on the amount of points you can earn, though the 5 percent bonus for select categories is only good for $1,500 worth of purchases per quarter. After reaching that cap, you’ll earn the standard 1 percent back.
This card also comes with 0% APR for 15 months on both new purchases and balance transfers. That makes this card a good choice if you’re thinking about making a big purchase that you’d want to pay off over time.
Get the Biggest Bonus
The Chase Freedom Unlimited card offers a quick sign-up bonus to new cardholders. You’ll get $150 after spending $500 within the first three months. That’s essentially free money.
This is a solid cashback card, too. You’ll earn 1.5 percent back on all purchases, no matter what they are. There’s no limit and no special categories to worry about.
You can get interest-free financing on new purchases for a little longer with the Freedom Unlimited card. It offers 0% Intro APR on Purchases for 15 months for both balance transfers and purchases. It has no annual fee.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Good credit score
IssuerFirst Savings Bank
Card Terms and Conditions
While it's easy to focus on the benefits of the Blaze card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this MasterCard.
- Intro APR:
- Intro APR for balance transfers:
- Ongoing APR:
- 29.90% Variable±
- Minimum Grace Period:
- 25 days
Cash Advance Features
- Ongoing APR:
- 29.90% Variable±
- Cash Advance Fee:
- 2% of each cash advance
Security and Protections
The Blaze MasterCard comes with some standard security features.
- Account alerts:
- You will be notified if there is any unusual account activity.
- Online Banking:
- View statements, sign up for text and email alerts and schedule automatic payments through the Blaze website.
- Zero Liability:
- You will never be responsible for any unauthorized charges made to your account.
Editorial Disclosure: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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