Prosper^® Card Review [2025]: Is It Worth It?

Prosper credit card basics

Who should get the Prosper Card?

The Prosper Card could make sense if you want to build your credit and can't qualify for a more appealing rewards credit card. This credit card doesn't require a security deposit, but it has an annual fee of $59 (waived first year) (waived for the first year if you sign up for autopay before your first statement) and your purchases won't earn points, miles, or cash back.

The main draw of the Prosper Card is that you don't need a good or excellent credit score to qualify. Qualifying for the card ultimately depends on different factors and the card issuer, but it's possible to qualify with a fair or bad credit score.

Prosper Card benefits and perks

• Qualify without hurting your credit score: Checking to see whether you qualify for the Prosper Card during the application process won't affect your credit score in any way. This is similar to how certain credit card companies provide pre-approval tools. If you qualify, you'll receive an estimated interest rate and credit line amount. Completing the process of becoming a Prosper Card cardholder will show up on your credit report and affect your credit score.
• No security deposit: Many credit cards geared toward building credit are secured credit cards and require a security deposit. Your available credit is typically attached to how much of a security deposit you put down. The Prosper Card is an unsecured credit card and doesn't require a security deposit.
• Build credit: Responsibly using the Prosper Card can help you build your credit score. This could include using your credit card to make purchases, making on-time credit card payments, and not carrying a balance. The Prosper Card reports account activity to the three major credit bureaus (Experian, Equifax, and TransUnion).
• Waive the first-year annual fee: Prosper has an annual fee of $59 (waived first year) if you're approved and sign up for AutoPay before your first statement is issued.
• Up to $3,000 credit limit: Receive an initial line of credit of up to $3,000 upon approval.
• Automatic credit line reviews: Your credit card account is automatically reviewed for credit line adjustments. This could include receiving automatic credit line increases (or decreases or no changes at all) depending on your payment history and eligibility.
• No fees for ATM cash withdrawals: Skip ATM cash withdrawal fees from Prosper. Keep in mind that you could still be on the hook for any fees from the ATM owner. Although there is no cash advance fee, Prosper Card cash advances are also subject to a 34.74% cash advance APR.

Drawbacks to the Prosper Card

• Annual Fee: You don't have to worry about a security deposit, but the Prosper Card still has an annual fee of  $59 (waived first year).
• No rewards: The Prosper Card doesn't offer any earning potential. This might not matter to you if your primary goal is to build your credit score. But there are options for building your credit score while earning rewards at the same time. Visit our dedicated page of credit card offers to compare credit cards that offer rewards.
• No intro APR offer: The Prosper Card has no introductory APR offers on purchases or balance transfers. In fact, the Prosper Card can't be used for balance transfers at all. For better options, check out our list of the best 0% APR credit cards.

Other cards to consider

The Prosper Card is a good option if you have a less-than-perfect credit score and want to rebuild your credit without worrying about a security deposit. But if the Prosper Card isn't the best credit card for you, you can explore our list of the best credit cards for bad credit.

You can also consider other card alternatives, such as the Petal^® 2 "Cash Back, No Fees" Visa^® Credit Card and QuicksilverOne from Capital One.

Petal^® 2 "Cash Back, No Fees" Visa^® Credit Card

The Petal 2 has a $0 annual fee and offers unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back.

Compare this with the annual fee of $59 (waived first year) and no opportunities to earn rewards with the Prosper Card. Additionally, the Petal 2 also has no foreign transaction fees and it's possible to qualify with limited or no credit history.

Check out our Petal Visa credit cards review to learn more about this card.

QuicksilverOne from Capital One

The Capital One QuicksilverOne has a $39 annual fee and offers unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel.

This is similar to the $59 (waived first year) annual fee on the Prosper Card, but the Prosper Card doesn't offer any earning potential. The QuicksilverOne also has no foreign transaction fees and it's possible to qualify with a fair credit score.

Read our Capital One QuicksilverOne review for more information.

FAQs

Build Credit Without a Security Deposit

Prosper^® Card

3.5

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Prosper^® Card

Learn How to Apply

Current Offer

Build credit without a required security deposit

Annual Fee

$59 (waived first year) - (waived for the first year if you sign up for autopay before your first statement)

Benefits and Drawbacks

Benefits

• No security deposit required
• Automatic credit limit reviews
• Can waive the annual fee for the first year with AutoPay
• $0 cash advance fee

Drawbacks

• Does not earn rewards or offer many benefits
• Very high interest rates with no intro APR offers
• 34.74% cash advance APR (which is very high)

Card Details

• Build credit without a required security deposit