What the Link Credit Card Is
The Link Credit Card is a secured credit card issued by Deserve Inc., designed for people building or rebuilding their credit history. You deposit money into a savings account, and that deposit becomes your credit limit — so a $500 deposit gives you a $500 limit. You use the card like any other credit card, and your payment history gets reported to the three major credit bureaus (Equifax, Experian, and TransUnion).
The card charges no annual fee and no foreign transaction fees. Interest rates vary based on your creditworthiness at the time you open the account. Because the card is secured by your own deposit, approval is much faster and easier than with unsecured cards — most people hear back within one to three business days.
The goal is to use the card responsibly for six to twelve months, then graduate to an unsecured card with a higher limit and better rewards. Your deposit stays in the account the whole time and earns a small amount of interest.
Key Takeaways
- Your credit limit equals the cash deposit you make upfront, so you control how much credit you want to build with.
- The card reports to all three credit bureaus, so on-time payments directly improve your credit score over time.
- There is no annual fee, which means you are not paying just to hold the card while you build credit.
- After six to twelve months of responsible use, you may be able to convert to an unsecured card and get your deposit back.
- The interest rate you receive depends on your credit profile at signup, so rates vary from person to person.
How to Open a Link Credit Card Account
You start by going to Deserve's website and clicking the button to open a Link card. You will need to provide your name, date of birth, Social Security number, address, and employment information. Deserve runs a soft credit check, which does not lower your credit score.
Once you are approved, you choose how much to deposit — the minimum is usually $200 and the maximum is $2,500. You fund the account by connecting a bank account or using a debit card. After your deposit clears, your card ships to you, typically within five to ten business days.
When the card arrives, you set up it through the Deserve app or website. You set a PIN, review your credit limit (which matches your deposit), and you are ready to use it.
Using Your Link Card and Building Credit
Use the card for small, regular purchases — groceries, gas, a streaming subscription — and pay the full balance or most of it each month. The goal is to show lenders you can borrow money and pay it back on time. Even small, consistent payments build your credit faster than large payments made sporadically.
Your payment history makes up 35 percent of your credit score, so on-time payments are the single most important thing you can do. Set up automatic payments if your bank allows it, or set a phone reminder a few days before the due date. Missing even one payment can hurt your score and slow your progress.
Keep your balance low relative to your limit — ideally below 30 percent of your $500 (or whatever your limit is). If you deposit $500 and carry a $150 balance, that is fine. If you max out the card every month, it signals to credit bureaus that you are relying heavily on credit, which can lower your score even if you pay on time.
Fees and Interest Rates on the Link Card
The Link card has no annual fee, which sets it apart from many other secured cards. There are no foreign transaction fees if you use it abroad, and no fees for balance transfers or cash advances (though cash advances do charge interest from day one).
Late payment fees run $25 for the first late payment and $35 for subsequent ones within six months. If you miss a payment by more than 60 days, the card issuer may report it to the credit bureaus, which will damage your score. Avoid late payments entirely by setting up automatic payments.
Interest rates (called the APR, or annual percentage rate) vary. Some cardholders receive rates in the high teens; others in the mid-20s. The rate you get depends on your credit score, income, and credit history at the time you open the account. You can see your rate before you finish opening the account.
When You Can Graduate to an Unsecured Card
After six to twelve months of on-time payments, Deserve may automatically convert your Link card to an unsecured card. When this happens, your deposit is returned to your bank account, and your credit limit may increase. You keep the same card number and account, so your credit history stays intact.
Conversion is not may provide — it depends on your payment history and credit score improvement. If you have missed payments or carried high balances, conversion may take longer or not happen at all. If Deserve does not convert your card automatically, you can contact them to ask about your options.
Even if you do not convert, the Link card is still useful. You can keep using it, and it will continue to build your credit as long as you pay on time. Some people keep a secured card open even after getting unsecured cards, because a longer credit history helps your score.
Comparing Link to Other Secured Cards
Other secured cards in the market include the Capital One Secured Mastercard, the Discover it Secured Credit Card, and the OpenSky Secured Visa Card. The Link card has no annual fee, which the Capital One card also offers. The Discover card offers cash back (1 percent on all purchases), which Link does not.
The OpenSky card does not require a credit check at all, which can be useful if your credit is very poor or you have no credit history. However, it charges a $35 annual fee. The Link card's lack of an annual fee makes it cheaper to hold if you do not care about cash back rewards.
Conversion timelines vary. Capital One typically converts after six months of on-time payments. Discover converts after eight months. Link aims for six to twelve months. If you want to move to an unsecured card quickly, Capital One or Discover may be faster, but Link's no-fee structure makes it a solid choice if you are willing to wait.
What Happens If You Miss a Payment or Default
If you miss a payment by 30 days, Deserve charges a late fee ($25 for the first one) and reports the late payment to the credit bureaus. Your credit score will drop, and future lenders will see the missed payment for seven years.
If you miss a payment by 60 days or more, the card issuer may freeze your account and demand when ready payment of the full balance. They may also close the account, which means you lose the card and cannot use it anymore. Your deposit remains in the savings account, but you cannot access it until the debt is resolved.
If you fall behind, contact Deserve as soon as possible. Some issuers offer hardship programs or payment plans if you explain your situation. It is better to call and ask for options than to ignore the problem and let it escalate.
Frequently Asked Questions
Can I use the Link card internationally?
Yes. The Link card works anywhere Mastercard is accepted. There are no foreign transaction fees, but your bank or Deserve may charge a small fee for currency conversion. Check with Deserve before traveling to confirm any fees that might explore.
What if I want to close my Link card account?
You can close the account anytime by contacting Deserve. Your deposit will be returned to your bank account within five to ten business days. Closing the account will not hurt your credit score, but it may lower your average account age if this is one of your oldest cards.
Does the Link card offer any rewards or cash back?
No. The Link card does not offer cash back, points, or travel rewards. The focus is on building credit, not earning rewards. Once you graduate to an unsecured card, you may have access to cards with rewards programs.
How long does it take to receive the physical card after I open an account?
The card typically ships within five to ten business days after your deposit clears. Shipping itself takes another three to seven business days depending on your location. You can use a virtual card number in the Deserve app for online purchases while you wait for the physical card to arrive.
Will opening a Link card hurt my credit score?
Opening the account triggers a soft credit check, which does not lower your score. However, Deserve may also run a hard inquiry, which can lower your score by a few points temporarily. The score impact is small and recovers within a few months, especially as you make on-time payments.