Verve Credit Card Review – Features with less Benefits

Name might look interesting but Verve Credit Card has limited features with less benefits. It has higher joining and renewal fees, read complete review to know more. Continental Finance, the company that has given its users credit cards like The Matrix and The Cerulean, has added to the list their new credit card called The Verve. It is issued by Mid America Bank & Trust Company and Master Card processes the transactions for it. This credit card is available as an unsecured card, a partially secured card, or a fully secured card, depending on the credit history and score of every particular user.

Verve Credit Card

Read on to know if this credit card is good enough for your wallet or not.

Verve Credit Card Review on Features, Benefits & Charges

We all have known ‘the Verve’ as the brilliant band that gave us the 1997 song, Bitter Sweet Symphony. Looks like the song is the perfect inspiration for this card because owning The Verve credit card is sure going to be a bittersweet experience for your finances too.

Annual fees

The Verve credit card charges a joining fee of $125. Following that, you will have to pay $96 every year as annual fee for continuing using this card. If you are already worried about the very high charges, keep in mind that it is billed and deducted automatically from your security deposit immediately after you open your account, hence reducing your credit limit.

Interest rate

The Verve credit card charges an annual percentage rate of 3049%. The upside is that this is a standard interest rate and there are no extra charges on any specific items like vehicles.

The downside, however, is that this APR is relatively high (30.49%) for not only a secured credit card but also for unsecured ones. So, make sure you do not get into a credit card debt, ever!

Note: However, the official website of Verve Credit Card is claiming that the APR is 11.90% only.

Other charges

  • Apart from the high APR and fees, there are many more expenses that a Verve credit card holder has to bear.
    If you want an additional credit card, you will be charged $30 per year.
  • There is an annual maintenance fee of $120 for which $10 will be billed to you every month. However, this fee is waived off in most cases at least for the first year, so that is somewhat pocket friendly.
  • For cash advances, you will have to pay an additional 5% transaction fee added to the 29.99% APR without any grace interest period.
  • The Foreign transaction fees on this card is 3% which is almost equal to what almost everyone charges.
  • You will also have to bear late payment fee failing to pay your credit card bills on time. 

Credit Limit

The Verve credit card has a credit limit based on your security deposit. Initially, the deposit amount is $500 but after paying the joining fee, the credit limit is reduced to $375.

But if you are able to maintain the image of a good card holder by making payments on time, you can get your credit limit increased to $2000 after a period of 90 days.

The deposit amount will hold up for 10 days and will be processed only on business days. You need to withdraw your card and clear all payments to get the security deposit back within this time period. 

Overall Review

With the high expenses, this credit card may not look like a good option to go for. However, the good thing is that because it is also available as an unsecured credit card, most of the people who apply for it do not get rejected.


  • Even if you have a bad credit score and history, you are most likely to be able to get a Verve credit card issued.
  • The security fees on this credit card is refundable, except what will be deducted as membership fee. If you have been paying your bills on time, you will also be able to spend more using this card.
  • The minimum credit limit of $375 can help you pay modestly at the time of emergencies but without any rewards or benefits, this card is not a good option for a routine use.
  • However, if you have a bad credit score, you can definitely consider The Verve credit card as a trustworthy option to improve it. You can then move to some other secured card that gives you better value for your money.


  • Joining Fees: $125
  • Annual maintenance charges: $120
  • 2nd year charge: $96
  • Late payment fee: $38
  • Annual Percentage Rate (APR) rate: 30.49% (although company is claiming for 11.90%)

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Category: Credit Cards

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Article by: Ankita

Ankita is the main person behind She keep trying to figure out unique ways to save money using card, online etc.