The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.
BestMoney.com
Prosper® Card Review
Reviews 11,715
Prosper Card
Visit Site
Prosper Card
Prosper Card
Excellent
Reviews 11,715
Katy Ward
May. 17, 2023
2 min read
Katy Ward
Prosper Card Summary
Founded in 2005, Prosper began as the first peer-to-peer lending marketplace in the US. Its recently launched Prosper® Card is an unsecured product aimed at borrowers with a less-than-ideal credit history. The card, which allows you to borrow up to $3,000, doesn’t require a security deposit and offers no cost¹ ATM withdrawals.
Pros
  • No security deposit required
  • Automatic reviews for credit line increases
Cons
  • APRs of 23.99% - 34.99% may be higher than other cards
  • Doesn’t offer rewards

Prosper Card at a glance

4.4
Editorial score

Fees

Multiple fees
3.0

Eligibility (credit score)

Accepts all credit types
5.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication
5.0

Customer service

Multiple communication options, wide range of hours
4.0

Online experience

Excellent site and app with detailed FAQs, help center, and transparency of rates and features
5.0

Prosper Card Prosper Card Apply Now

Overview 

Headquartered in San Francisco, Prosper has offered more than $20 billion in loans to over 1,1 million people since it entered the lending market. In December of 2021, it launched its credit card, which is issued by Coastal Community Bank, member FDIC and aimed towards borrowers with a less-than-ideal credit history.

Although the card carries a $39 annual fee, Prosper will waive this for the first year if you sign up to its AutoPay system before you receive your first statement. AutoPay deducts monthly payments from your bank account on a set due date.²

Suitable for?

Designed to help borrowers establish credit, the card is suitable for individuals who have never borrowed money before and therefore have been unable to establish a history of on-time repayments.

Prosper could also be a good choice for those who prefer to manage their finances on the go. Its app, which is available to download from Google Play and the App Store, allows you to review payments, see your available balances, and dispute transactions.

Interest Rates and Fees

If you take out a card, the following rates and fees will apply.

Rate/FeeAmount
Annual fee$39 (waived for first year if you sign up for autopay before your first statement)
APR for purchases23.99% - 34.99% (variable)†*
Foreign transaction fee1% of transaction amount
Late payment feeUp to $40 per late payment

*APR will vary with the market and is based on the Prime Rate (the interest rate banks charge their most creditworthy borrowers)

Rewards & Cash back

This card doesn’t offer rewards or cash back.

The Application Process

To apply for a card, you’ll need to be at least 18 years old and a US resident of any state other than Iowa or West Virginia.

If you decide to apply, the first step is to receive an estimated offer through Prosper’s pre-approval process by entering details such as those listed below.

  • Name
  • Date of birth
  • Home address
  • Social Security Number
  • Income details
  • Contact details

You’ll then see whether you're likely to be accepted, the amount of credit you could receive, and an estimated interest rate for your repayments. 

You can then decide whether you’d like to continue with your application. If so, you’ll need to connect to your bank account to confirm the details you provided in your application. You’ll receive instructions on how to do this.

Unlike many cards available to those with a less than perfect credit history, Prosper doesn’t require you to provide a security deposit when you take out a card.

The pre-application process won’t affect your credit score, although completing the application process may have a small impact.

Overall, it typically takes less than 5 minutes to apply for a card and receive a decision.

Help & Support

You can contact Prosper via phone or email. When we emailed the company for more information on the application process, we received a reply within minutes.

There is also an extremely detailed knowledge base on the company’s website, which provided almost all the information we needed about the card.

Phone support: Monday to Friday, 8am-8pm (EST)

Security 

If you’re the victim of fraud, Prosper's zero-liability guarantee means you won’t pay for any unauthorized transactions on your account. To help you spot unusual activity, you can also set up transaction alerts via the dashboard on your mobile app.

All data you enter into the website is transmitted via a secure encrypted channel, and, once inside Prosper's system, it can only be read at secured access points. Other security features include firewalls, malware detection software, and data-loss-prevention systems.

FAQ

How much can I borrow?

You can apply for a credit line of between $500 and $3000. If accepted, Prosper will automatically review your account every 3 months to check whether you’re eligible for a credit line increase.³

Can I use my card immediately if I’m approved?

Once your application is approved, you’ll typically receive your physical card within 7 to 10 days. Before it arrives, you can access a portion of your line of credit through your digital card. You can see the amount of your temporary line of credit via the Prosper app.

How can I make payments on my card?

You can make payments through the app, online, by phone, or check.

Conclusion

If you have a slim credit history, Prosper is an attractive credit card option. As well as providing you with a decision within minutes, the company will waive your annual fee for the first year if you sign up for automatic payments. Likewise, it doesn’t require you to put down a security deposit when you open an account. Although the card doesn’t offer rewards or cash back, you may find the ability to establish a strong credit history by making regular payments on the card is the most important benefit.

Prosper Card Prosper Card Apply Now

Methodology

This review was compiled using information on Prosper’s website and social media platforms as well as emailing its customer support team.

Disclosures

¹ Third party fees may apply. See details for additional information about rates, fees, and other terms. See cardholder agreement.

² The annual fee for this credit card is $39, which will be waived for your first year if you are approved and sign up for AutoPay before we issue your first statement. See details for additional information about rates, fees, and other terms.

³ Automatic reviews for credit line increases: Your account will be reviewed automatically for credit line adjustments. Your credit line can increase or decrease, or not change at all, depending on your payment history and eligibility.

Katy Ward
Written by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She enjoys identifying complex financial trends that make for interesting article topics.
Top Credit Cards
Blue Cash Everyday® Card from American Express
Blue Cash Everyday® Card from American Express
Read Review|Visit Site
Read all reviews
Must Reads
Read all articles
Trustpilot reviews
See what some costumers are saying about Prosper Card
Prosper Card
Excellent
Reviews 11,715
on
Excellent
83%
Great
7%
Average
3%
Poor
2%
Bad
5%
D
david
7 hours ago
Fast and very easy
Fast and very easy
C
cassie
6 hours ago
It was easy to apply for the loan
It was easy to apply for the loan. There were more steps due to my husband and I getting the loan together. The money came in 3-5 days, although that may have been because it was before a weekend. I do think having an apr, interest, and then charging a fee to get the loan was excessive.
S
susan jimenez
9 hours ago
It was simple and effortless
It was simple and effortless
B
bonacio
11 hours ago
I really appreciate the…
I really appreciate the professionalism. Especially the expediency. Thank you
R
ronda
12 hours ago
Quick and simple the only thing I…
Quick and simple the only thing I wasn't sure if i could revise the amount. but i also didn't try to figure out. Use you guys all the time!!!!
consumer-image
p cab
14 hours ago
A fair and efficient company
A fair and efficient company. Highly recommend.
c
customer
14 hours ago
It was simple to apply
It was simple to apply
M
michael
16 hours ago
Quick and efficient process I received…
Quick and efficient process I received the loan in a timely manner
G
glenda
16 hours ago
This was the easiest loan I ever…
This was the easiest loan I ever applied for. It is allowing me to consolidate to where I have one payment and saving me a lot in interest, plus I can have my Prosper loan paid off faster than trying to pay each individual account off. Hats off to Prosper! Please thank your associates, they were all very professional, and friendly. I am recommending Prosper to all that will listen. Thank you so much!
D
daniel
17 hours ago
I had a great experience
I had a great experience. I didn't have to talk with anyone. The whole process went smooth. Thank you
h
harry
a day ago
The experience was great it was all done in a timely manner
A very professional company. A no hassle loan. Everything was done quick and easy.
S
stephanie
a day ago
Easy to apply.
Easy to apply.
J
john
a day ago
Help make ends meet
Every one was very helpful with getting my loan. Thank you
M
michael
2 days ago
Smooth process and It’s my second time.
Smooth process and It’s my second time.
D
dan
2 days ago
Smooth process but took far longer than…
Smooth process but took far longer than expected. Seemed to 'go dark' for almost a week. Would recommend greater transparency in the process.
P
paul fite
2 days ago
Reasonable Loan
I have worked with Prosper on a number of personal loans for a variety of situations. The process is always quick and smooth with funds in my account in less than a week.
T
tate
2 days ago
Quick and easy great terms
Quick and easy great terms
M
michael
2 days ago
Great!!
Great!!! Fast! Up front!
B
b. w.
2 days ago
Great customer service.
Great customer service.
G
giovani garcia
2 days ago
I have been dealing with Prosper for…
I have been dealing with Prosper for several years. And the experience only gets better as the years go by. Thank You Prosper!
A
amber
3 days ago
Fast delivery on funds and interest is…
Fast delivery on funds and interest is in reason along with monthly payments. Thank you
N
nicole
3 days ago
Always a smooth transaction!
Always a smooth transaction!
K
kevin
3 days ago
Application Process
The ease of the application process, updates of loan status, and promptness of loan distribution made for a great experience.
B
bruce
3 days ago
Easy and fast
Easy and fast
C
chris wilson
3 days ago
Absolutely the easiest process and had…
Absolutely the easiest process and had funds in a couples days, will use Prosper again for future needs. Thanks!!!
M
mark
3 days ago
Quick response and friendly service.
Quick response and friendly service.
A
anne g
3 days ago
Very easy to apply
Very easy to apply. Great communication and very clear results.
H
hernan
3 days ago
Super fast answer
Super fast answer . I got a better rate on my first and second loan . But they did send an email explaining my rate . Due to credit score a lower then the last time
M
matthew heldmann
3 days ago
Very good service
Very good service . Easy to accomplish
R
raquel
4 days ago
I received my loan sooner than…
I received my loan sooner than expected! It was a great surprise and saved some money!
R
rodolfo
4 days ago
Is very fast and save
Am very happy, I can fixed my problem
j
johnjohn
4 days ago
Good people work
Good people work
J
jesuca
4 days ago
Easy and fast
Easy and fast Customer Service was excellent.
consumer-image
franc ros
4 days ago
Email claimed to keeping there word by offering credit ... got denied
Email claimed to help as promised befor
J
james
4 days ago
Fast and Easy
Fast and Easy. Very friendly people.
M
melinda
4 days ago
Easy and fast with friendly staff.
Easy and fast with friendly staff.
d
danielnnvc
7 days ago
WITHDRAW FAILURE
Prosper finance have suddenly become scam place a withdrawal since 3days now and have not received it and customer support are doin nothing about it they keep posting fake payments proff
J
jennifer
7 days ago
Always a great experience!
Always a great experience!
M
monica
8 days ago
Quick and easy no hassle service money…
Quick and easy no hassle service money deposited within days..thanks Prosper.
R
rene
8 days ago
Simple and quick
Application process was simply and easy to use. Approval process was quick as well.
V
vincent
9 days ago
Timely
Timely, little to no hassle at all!
T
tcis
9 days ago
Fast and easy!
Fast and easy!
H
henry grajales-el
9 days ago
The smoothness of the process was…
The smoothness of the process was easy.
O
oscar
9 days ago
I really doubted I would qualify for…
I really doubted I would qualify for the loan I applied for. Prospect made it so easy an at a great interest rate. The funds were deposited in my bank account sooner than I expected. This my third loan with Prospect. Thank you guys.
M
mark
9 days ago
The loan process is fast
The loan process is fast, fair and extremely easy to complete. The funds are deposited in my account in just 2 days.
J
john dretzel
9 days ago
My second time around and it was so…
My second time around and it was so easy and taken care of in a matter of a couple days.
M
michael
10 days ago
Fast
Fast and easy process. Second time we have used Prosper.
s
sevndogmn
10 days ago
Great to work with
Seamless process from beginning to end
K
kim
10 days ago
Your process is always effortless.
Your process is always effortless. I provided some information and received an answer inside of a week.
B
blind dog properties, llc
12 days ago
Both investor and borrower
We have been an investor since 2011 and acquired our first loan in 2013. My review in any venue is always based on reasonable expectation; 5-star gas station sushi = 3-star buffet = 1-star I first tasted in Iwakuni, Japan. First, as a borrower, we appreciate the variety of loan options and that there is almost never a denial, only a variation of rate and term. It is banking th old fashion way where every lender has skin in the game. Read the terms and understand what is being offered, and also understand that this is crowd-sourcing, so it takes time to fund. We borrowed $35k for 5 years @ 14% for the purpose of additional down money to purchase rental properties. It served our purpose well and we paid off in 10 months. Investing in loans has been as fulfilling. Of all the crowd-funding lending out there, Prosper has given us the best ability to determine our own path to prosperity. We have both an IRA and regular account and are successfully invested in both. Following the strategy of investing in as many individual loans as possible, the losses from default are offset by loans paid in good faith. Once again, old-fashion banking. We loan our money directly to the borrower and are enriched by their success. Investing in people, has been more consistent than any of our other investments.
consumer-image
alan divers
13 days ago
SENT ME AN EMAIL THAT I WAS TURNED DOWN…
SENT ME AN EMAIL THAT I WAS TURNED DOWN FOR A LOAN - WHICH I NEVER APPLIED FOR..
D
diana laue
14 days ago
Got the funds right away
Got the funds right away. Paid a Credit card off that would not go down even making double large pmts
J
jeffrey clements
14 days ago
Everything was easy and smooth to get a…
Everything was easy and smooth to get a loan
M
mary
14 days ago
Ease of use
Ease of use. Great experience in the past.
M
martin ortiz
15 days ago
I liked the fast of the process and the…
I liked the fast of the process and the super fast deposit of the money, I think the processing fee is to high but I understand the market nowadays
consumer-image
aj zoom
15 days ago
FAST AND SIMPLE
As a repeat customer the process was seamless, quick, and easy. I do wish the interest rates were a little better especially considering the origination fee. But I chalk it up to convenience.
P
perez bjj
15 days ago
Quick and easy
Quick and easy, being able to do it on your phone makes it super convenient.
T
timothy
15 days ago
Very simple process
Very simple process. Just took a few minutes, then waited for the process. Took only a few days to get the money.
E
ernesto
15 days ago
No inglés
No inglés. Vero good thanks for your help
T
terrence
15 days ago
I appreciated the quick and easy…
I appreciated the quick and easy application process. My approval only took a few days and funds were available within a week.
jenna h.
16 days ago
Very quick and easy to understand all…
Very quick and easy to understand all steps
M
mctier/treasure
17 days ago
THIS COMPANY IS A SCAM!!!!!
THIS COMPANY IS A SCAM!!!!!! Representative name Eddie first told me that I was approved for a $3,000 loan...I went through the verification process just to tell me I now have to pay $200 to secure the loan because of my credit and that once I pay the funds, the loan amount will be deposited into my account within minutes. I pay the $200 and I received nothing. I called the next day and Eddie says now that I have to pay an additional $200 to cover the transaction fee that FDIC needs because of my credit score but the loan amount is still approved to be given to me. Asked me to make the payment via cashapp and then right after that I'll receive the funds after 30 min. I do that, they claimed they didnt receive it the first time so i sent it again and still received nothing. When I call today they now say I have to pay to boost up my score and then I will get the loan. At that point I am done at this point, spent $589 for nothing and now they have no intention of refunding my money. They are nothing but a scam and will now have to file a police report and submit this to the FBI since they are reaching out to people across states and stealing people's money. DO NOT TRUST THEM!!!
S
stephanie
17 days ago
Easy
Easy, clear-cut terms. Fast direct deposit.
V
venessa
17 days ago
They are fast
They are fast
T
tonya
17 days ago
So easy and quick...I love Prosper!
So easy and quick...I love Prosper!
M
martin
18 days ago
Great service always fast as ever
Great service always fast as ever. I've done like 5 loans with you guys always never any issuses.
M
maria
18 days ago
Excellent you always there when I need…
Excellent you always there when I need you. Thank you
V
vinicio diaz leonardo
18 days ago
Very good service
Very good service
R
renee
18 days ago
Me and Prosper
Prosper and I have had a multi year and multi loan experience. I have never had to wait more than a few hours for approval, where the local bank takes days. When your looking to make a purchase, sometimes you don't have days.
J
jesus
21 days ago
Super convenient
Super convenient. Funds were available the next day..
e
eddie
21 days ago
Took longer than the first time I used…
Took longer than the first time I used your service
G
gerald
21 days ago
The process went very well
The process went very well. Everyone was very professional and respectful. All my questions were clearly answered. Prosper is a great company to do business with and I would highly recommend prosper to my family and friends.
T
theresa
22 days ago
Pleasant experience
Pleasant experience! Would recommend to everyone!
D
david
22 days ago
Great experience
Quick and pleasant experience
M
margarita turano
22 days ago
It was easy and convenient to apply.
It was easy and convenient to apply.
L
lisa
23 days ago
The process was fast and east
Prosper is great way to improve your credit score.
J
john orfe
23 days ago
precise feedback
filled out loan application; asked cust svc rep whay I could not get prior lower APR; asked for a supervisor; was told to complete the application then I could speak with a supervisor; completed the app and funds were immediately dispersed at the higher rate I am a premium customer that should be granted some consideration !
K
kate
23 days ago
I received an approval
I received an approval, not a pre-approval, entered my bank account number along with other personal information based on credit acceptance. Immediately after I confirmed my account I received a suspension notice. A few moments later I received a cancellation notice. I immediately contacted customer service by phone and chat. I uploaded additional documentation in case this appeared to be fraudulent activity. I trustingly used Transunion, unlocked my credit, received pre qualification)so this was an odd occurrence). I’m not sure how this company is listed as a five star with issues of false advertising and felonious actions concerning an applicant privacy. Rethink using them!
C
carolyn
23 days ago
Payment Schedule Confirmation
I was hoping to get a confirmation of my payment schedule but haven't seen one. Could you send one confirming what I signed up for. Thank you.
J
jean
24 days ago
It was a Good Experience It Fast Nd Easy
It was a Good Experience It Fast Nd Easy
E
elizabeth & mike dentzer
24 days ago
easy
easy, fast, convenient.
J
john
24 days ago
Excellent
Quick and simple
D
darrell o
24 days ago
Exceptionally quick and easy service
Prosper kept me updated with time lines of how everything would play out. It looked like somewhere around 1 month for the whole process before I would receive my request. Can't believe how surprised I was when the money was in my account in less than 1 week!
k
ken
24 days ago
Quick prosesses
Quick prosesses
M
mr. d
24 days ago
Fast processing
Fast processing
J
joseph
24 days ago
Lending made easy.
The application and loan process were super easy and I got funded faster than expected. I would have liked to have know about the loan origination fees earlier in the process though.
K
kevin
25 days ago
Fast and professional service as always.
Fast and professional service as always.
C
cynthia
25 days ago
The process was easy and quick...
The process was easy and quick...
E
evelyn
25 days ago
The ease of the whole loan process
The ease of the whole loan process. Your company has Great Customer Service Support! I will stick with this company in the Future and recommend it to my Hospital Staff!
S
scott
25 days ago
Returning customer
I’ve had a few loans with Prosper. Always a smooth experience.
L
leif w
a month ago
GROSSLY UNFAIR COMPANY STAY AWAY!!!!!
GROSSLY UNFAIR COMPANY STAY AWAY!!!!! There was a balance due at the end of my loan due to an offered COVID break. The automatic payment (which has been on time for years) stopped and immediately they reported the balance as late with ANY notice that the balance was now due. One month later I noticed they hadn't taken they payment and called, they said I had a balance left on the loan, offered a settlement and I immediately paid. Now they have submitted a late payment to my credit AND a settlement for less than the original amount - which has crashed my credit score right in the middle of business loan. I have contacted them numerous times saying this is unfair and that they should have notified me when the balance was due - they answer was that they called twice (from a number marked as SPAM) but left no voicemail - and sent two email, which I eventually found in my SPAM email. DISGUSTED WITH THESE GUYS!!!!!!!!! I have contacted the FTC and filed a detailed complaint and I am going to file a suit against them.
T
todd
a month ago
You were able to help when I needed it.
You were able to help when I needed it.
J
john mills
a month ago
Great service and in a timely manner.
Past experience with this company resulted in my coming back.
D
dwain
a month ago
Home upgrades
Polite people and understanding my account needs
D
david
a month ago
Prosper made it easy to get the loan I…
Prosper made it easy to get the loan I needed with the terms I needed!
D
douglas
a month ago
Very easy to apply and to receive fund…
Very easy to apply and to receive fund guickly thank you
s
shere
a month ago
The staff is amazing.
The staff is amazing.
j
juan
a month ago
Great company Easy to apply and got the loan sooner…
Easy to apply and got the loan sooner than expected.
C
chris
a month ago
Convenient way to find a loan
I already had one loan with Prosper. When I had some unexpected medical expenses and my credit cards filled up, I decided to look for another one. Most of the experience was really smooth. Everything that was supposed to happen happened automatically. The only negative was the messaging. My loan was denied. Then it was funded. Then it was denied again. I assume that's because of the outsourcing. Ultimately, I got a loan for the going rate, but the messaging was confusing.
J
judith
a month ago
Easy process
Easy process. Was pleasantly surprised at the rapid response and release of funds. Thank you so much.