Assent Platinum 0% Intro Rate Mastercard Secured Credit Card Review

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is a full-feature Platinum Mastercard with several perks. You’ll get a 0% APR on purchases for the first six months after you sign up. Plus, the company reports your financial activity to all three major credit reporting agencies to help boost your credit.

Other notable features include a low annual fee of $49 and 24/7 online account access. Your account is secured with a fully refundable credit deposit of $200 to $2,000, due when you fill out your application. Here is everything you need to know about the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card and how to qualify.

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card Review

Annual fee:

$49

Purchase APR:

0% for the first 6 months (then Prime Rate plus margin of 9.74% after that)

What is the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card?

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is issued by FCIC-insured Synovus Bank in Columbus, GA. First Progress Card services the card. The secured card allows you to obtain a line of credit by putting money into a fully-refundable account. The amount of money that you put down will serve as your credit limit. For example, if you put $200 into your security deposit, then your monthly credit limit will be $200.

Credit card companies that only report to one or two agencies might be the reason why there are inconsistencies on your credit report. This can be hard to fix. Choosing a hard that reports to all three helps keep your history uniform across the board. Your information should be the same no matter where you pull your credit report from. The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card also offers several perks and low rates that you won’t find elsewhere.

Here are the basic fees and terms associated with the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card:

  • Cash advance fee: either $10 or 3% of the amount (whichever is more)
  • Cash advance APR: Prime Rate plus margin of 15.74%
  • Minimum interest charge: no less than $1.50
  • Foreign transaction fee: 3% of the amount
  • Late payment fee: up to $40
  • Returned payment: up to $29

How Does It Work?

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card uses information other than your credit score to approve you. This information also helps determine your credit terms. Secured cards are ideal for people who have bad credit or no credit at all. This is because they use a security deposit to approve you instead of relying on your credit history. The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card works just like any other credit card. The only difference is that you will need to put down a security deposit of $200 to $2,000 when you fill out your application.

Your security deposit will be returned to you after you close your account as long as it’s in good standing. If there is a credit balance or any outstanding charges, then you will be required to pay this before you can receive a full refund. The company will mail a check to your home address within 10 weeks after you close your account. You can ask to have your check expedited by contacting customer service. Using the expedited feature will prompt the company to send out your credit balance refund within seven days of closing your account.

What Does It Offer?

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is the perfect card to help you boost credit or keep your good credit going. You can use this card whether you have bad credit or no credit. The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is also ideal for those who want to enjoy the benefits of a Mastercard.

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card also offers a 0% introductory purchase APR for the first six months. This feature goes into effect after your card is activated. You can also use this card anywhere Mastercard is accepted, including for traveling, hotels, car rentals, or everyday purchases. Here are some of the Mastercard benefits that come with your card:

Extended warranty: this feature doubles the manufacturer’s warranty for up to 12 months on eligible items that you purchase with your card.

Price protection: this feature states that purchases you make entirely with your card are covered for 60 days from the purchase date as indicated on your receipt. You’ll be reimbursed for the difference between the price you paid and the lower price advertised. This feature also covers items that you purchased as gifts. Items that are not included in the price protection feature include items bought for commercial or business use; jewelry, art, antiques, or collectible items; customized or special order items; layaway items or items returned to a store; any item purchased from an auction; items bought from a company that is going out of business; plants, shrubs, animals, and food; land; traveler’s checks; and tickets of any kind.

Mastercard ID theft alerts: this feature provides cardholders with cyber security to detect illegal trading of personally identifiable information (PII) online. These theft alerts track thousands of websites and data points, and alert cardholders if their information is compromised online.

Theft protection: the Mastercard theft protection plan provides you with several resolution services if you are the victim of identity theft. You will be provided with a uniform identity theft affidavit and assistance with completion of the affidavit. This service will also notify all three major credit reporting agencies if your identity is stolen. You’ll get assistance with replacing your card and how to identify theft for further occurrences. This service also provides the cardholder with an identity theft resolution kit and sample letters that can be used to cancel checks, ATM cards, and other accounts.

Mastercard global service: this feature provides 24 hour, worldwide assistance with lost and stolen card reporting, emergency cash advances, and emergency card replacement. You can call global services to report your credit card lost or missing and they will send you a new one the next day if you are in the United States and within two business days almost everywhere else.

Mastercard airport concierge: this feature provides a 15% discount on airport meet and greet services. You can arrange for a personal agent to meet you and escort you through the airport when you depart or arrive. You can also use it for connecting flights. This service is good at over 450 airports and can be used 24/7, 365 days a year. You can also be expedited through security or immigration processes.

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card vs. Other Secured Cards

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is a better option than a prepaid or a debit card because your activity is reported to all three credit reporting agencies. This is how to boost your credit score. Debit cards do not typically report your information. They also tend to carry a membership fee each month or they charge you a service fee each time you reload.

When compared to other secured cards, the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card offers the best introductory prices, including no APR on purchases for the first six months. The card also offers a modest annual fee and regular APR, similar to other secured cards. Other cards may have lower APRs and annual fees, but offer no introductory benefits.

Here is how the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card compares to other secured Mastercards:

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card

Purchases intro APR:

0% intro APR for the first six months; 9.74% after that

Balance transfers intro APR:

N/A

Regular APR:

12.99% (variable)

Annual fee:

$49

Credit needed:

poor credit, no credit

First Progress Platinum Prestige Mastercard® Secured Credit Card

Purchases intro APR:

N/A

Balance transfers intro APR:

N/A

Regular APR:

9.99% (variable)

Annual fee:

$49

Credit needed:

bad credit accepted

First Progress Platinum Elite Mastercard® Secured Credit Card

Purchases intro APR:

N/A

Balance transfers intro APR:

N/A

Regular APR:

19.99% (variable)

Annual fee:

$29

Credit needed:

bad credit accepted

First Progress Platinum Select Mastercard® Secured Credit Card

Purchases intro APR:

N/A

Balance transfers intro APR:

N/A

Regular APR:

13.99% (variable)

Annual fee:

$39

Credit needed:

bad credit accepted

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card: Pros and Cons

The Assent Platinum 0% Intro Rate Mastercard Secured Credit Card’s biggest benefit is its 0% APR for six months. After that, your APR will be around 12.99% based on the prime rate. Also, you can qualify for this card even if you have bad credit or no credit at all. This is because your security deposit acts as your credit limit. You have full control over how much money you put down.

You’ll also enjoy all the benefits of a traditional Mastercard, including theft and price protection plans. You can use this card anywhere Mastercard is accepted all over the world. However, there is an annual fee of $49 that will affect your initial available credit. Once you pay off the annual fee, your credit limit will return to normal. Here are some other pros and cons to consider.

PROS

  • The company reports your financial activity to all three major credit reporting agencies (most companies only report to one or two)
  • You can pick your credit limit by putting this money down when you fill out your application
  • Your security deposit is fully refundable
  • You won’t be held responsible for fraudulent charges as long as long as you report your card lost or stolen to Mastercard
  • The card comes with Mastercard benefits, such as ID theft protection plans, price protection, and extended warranty
  • The approval process is based on your security deposit and not your credit history (you can apply with bad credit or no credit)
  • The card can be used anywhere Mastercard is accepted
  • Your credit limit can extend from $200 to $2,000
  • You can pay for an expedited service to speed up the application process
  • It does not appear that you need to have a bank account to qualify

CONS

  • Although the program is nationwide, it is not yet available in New York, Iowa, Arizona, or Wisconsin
  • After the introductory APR of 0% ends, the ongoing purchase APR is higher than other APRs for secured cards in the same class
  • The annual fee of $49 is among the highest when compared to other secured cards in the same class
  • It takes around three weeks to process your application and 10 weeks to process your refund when you close your account (as long as there are no outstanding balances)

How To Apply

The application process for the Assent Platinum 0% Intro Rate Mastercard Secured Credit Card is easy and can be done online. To apply, visit the website and click on the “apply now” button. You will be asked to enter your full name, home address, phone number, and email address. You will also be asked whether or not you have a bank account.

At the time of this writing, you cannot fill out an application over the phone. The website states that it takes about three weeks to process an application. You can pay a fee of $19.95 to have your application expedited through the expedited processing service feature. This allows your credit card to be processed up to seven days faster. It’s only available if you use a prepaid card or a debit card to fund your security deposit. The $19.95 will be charged to your card along with your security deposit when you fill out an application.

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CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.

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