Edge Elite Credit Card Review: Benefits, Rewards, and Fees Explained

If you’re looking for a credit card with no annual fees, guaranteed approval, and a $1,000 credit limit, you may want to consider the Edge Elite Card. This catalog card offers 0% financing on popular brand-name products and is a favorite among consumers for its simplicity and convenience.

Key Takeaways

  • The Edge Elite Card is a catalog card with no annual fees and guaranteed approval.
  • It offers a $1,000 credit limit and 0% financing on popular brand-name products.
  • While it may not be the best option for those with excellent credit, it can be a good choice for those with bad credit looking to rebuild their credit.

Edge Elite Credit Card Overview

The Edge Elite Card is a merchandise credit card that offers up to $1000 in an unsecured credit line with 0% interest for shopping. This card is designed for people with bad, damaged, or no credit who are looking for a low-maintenance card.

One of the advantages of the Edge Elite Card is that it has no annual fee, making it a great option for those who want to avoid the extra cost. Additionally, the card is available to those with poor credit, which is a significant benefit for those who have struggled to get approved for credit cards in the past.

It is important to note that the Edge Elite Card does not offer cash back, miles, or points rewards. However, it does provide online reporting, which is a convenient feature for cardholders who want to keep track of their spending and payments.

Overall, the Edge Elite Card is a good option for those who are looking for a straightforward merchandise credit card with a low credit limit and no annual fee. However, it is essential to read the terms and conditions carefully before applying for the card to ensure that it meets your individual needs and financial situation.

Key Features of Edge Elite Credit Card

Rewards Program

Unfortunately, the Edge Elite Credit Card does not offer any rewards program. However, this card is designed to help people with bad credit or no credit history to build or improve their credit score.

Interest Rates

The Edge Elite Credit Card offers 0% interest on purchases for members. This means that you can buy now and pay later without paying any interest. However, after the introductory period, the regular APR applies.

Fees and Charges

The Edge Elite Credit Card has an annual fee of $239.4 after the first year, which includes an application fee of $29.95. This card has no hidden fees, no credit checks, and no credit turndowns. Members can enjoy up to a $1,000 credit line, which can help them cover unexpected expenses or make purchases when they need it.

Overall, the Edge Elite Credit Card is a good option for people who want to build or improve their credit score, but it is not a suitable option for those who are looking for rewards or cashback programs.

Benefits of Edge Elite Credit Card

As an Edge Elite Credit Cardholder, I enjoy the following benefits:

Travel Perks

The Edge Elite Credit Card offers various travel perks, including:

  • No foreign transaction fees: This means that I can use my Edge Elite Credit Card to make purchases outside of the United States without incurring any additional fees.
  • Travel accident insurance: When I use my Edge Elite Credit Card to purchase travel tickets, I am automatically covered by travel accident insurance. This coverage provides financial protection in the event of an accident while traveling.
  • 24/7 travel assistance: If I encounter any travel-related issues, I can contact the Edge Elite Credit Card’s customer service team for assistance. This service is available 24 hours a day, seven days a week.

Insurance Coverage

The Edge Elite Credit Card offers various insurance coverage options, including:

  • Zero fraud liability: If my Edge Elite Credit Card is lost or stolen, I am not responsible for any fraudulent charges made on my account.
  • Purchase protection: When I use my Edge Elite Credit Card to make purchases, I am automatically covered by purchase protection. This coverage provides financial protection in the event that my purchase is damaged, lost, or stolen.
  • Extended warranty: When I use my Edge Elite Credit Card to make purchases, I am automatically covered by an extended warranty. This coverage extends the manufacturer’s warranty on eligible items for up to one additional year.

VIP Services

The Edge Elite Credit Card offers various VIP services, including:

  • Concierge service: As an Edge Elite Credit Cardholder, I have access to a concierge service that can assist me with a wide range of tasks, from making restaurant reservations to booking travel.
  • Exclusive access: The Edge Elite Credit Card offers exclusive access to various events and experiences, including concerts, sporting events, and more.
  • Higher credit limit: With an Edge Elite Credit Card, I enjoy a higher credit limit than I would with many other credit cards. This gives me greater purchasing power and flexibility.

Drawbacks of Edge Elite Credit Card

Potential Disadvantages

As with any credit card, there are potential drawbacks to using the Edge Elite Credit Card. Here are a few to consider:

  • Limited Acceptance: The Edge Elite Credit Card is a store card, meaning it can only be used at specific retailers. This can be limiting if you prefer to shop at a variety of stores or if the stores that accept the card do not offer the products you need.
  • High Interest Rates: While the Edge Elite Credit Card offers a 0% introductory APR, the ongoing APR can be high, making it costly if you carry a balance from month to month.
  • Limited Rewards: Unlike many other credit cards, the Edge Elite Credit Card does not offer rewards or cash back on purchases. This can be a disadvantage if you are looking to earn rewards for your spending.

Customer Complaints

In addition to potential disadvantages, there have been some customer complaints about the Edge Elite Credit Card. Here are a few common complaints:

  • Customer Service: Some customers have reported poor customer service experiences when dealing with issues related to their Edge Elite Credit Card.
  • Hidden Fees: Some customers have reported unexpected fees, such as monthly maintenance fees or fees for using the card at certain retailers.
  • Difficulty Closing Account: Some customers have reported difficulty closing their Edge Elite Credit Card account, either due to long wait times on the phone or confusion about the process.

It’s important to consider these potential drawbacks and customer complaints when deciding whether the Edge Elite Credit Card is the right choice for you.

Comparison with Other Credit Cards

When it comes to credit cards, there are so many options out there that it can be overwhelming to choose the right one. In this section, I will compare the Edge Elite Card to other credit cards to help you make an informed decision.

Edge Elite Card vs. Choice Privileges Mastercard

The Choice Privileges Mastercard is a great option for frequent travelers who stay at Choice Hotels. However, if you’re not a frequent traveler, the Edge Elite Card may be a better choice. The Edge Elite Card has no annual fee and is open to people with poor credit, while the Choice Privileges Mastercard has a $0 annual fee and is only available to people with good to excellent credit.

Edge Elite Card vs. Chase Freedom and Chase Sapphire Cards

The Chase Freedom and Chase Sapphire cards are a popular combination among credit card users. However, the Edge Elite Card may be a better option for people with poor credit or those who don’t want to pay an annual fee. The Edge Elite Card has no annual fee and is open to people with poor credit, while the Chase Freedom and Chase Sapphire cards both have annual fees and are only available to people with good to excellent credit.

Edge Elite Card vs. Other Secured Credit Cards

Secured credit cards are a good option for people with poor credit who want to rebuild their credit score. However, many secured credit cards have high fees and low credit limits. The Edge Elite Card is a good option for people with poor credit who want to avoid high fees and get a higher credit limit. The Edge Elite Card has no annual fee and offers a credit limit of up to $1,000.

Overall, the Edge Elite Card is a good option for people with poor credit who want to avoid high fees and get a higher credit limit. However, if you have good to excellent credit, there may be better options out there for you.

Who Should Consider the Edge Elite Credit Card

If you are looking for a store card that offers a low-maintenance option with no annual fee, the Edge Elite Card may be a good choice for you. This card is issued by Unique Card Services and has a $1000 credit limit upon approval.

The Edge Elite Card is a favorite among consumers for various reasons. It is a catalog card without monthly fees and other strings attached. You can enjoy 0% financing to purchase popular brand-name products. Its online application is 100% free.

If you have a bad credit score, the Edge Elite Card may be a good option for you. Your approval is guaranteed, and there are no credit checks or credit turndowns. This card is also a good option if you are looking to build or improve your credit history.

However, if you are looking for a card that offers cashback, miles, or points, the Edge Elite Card may not be the right choice for you. This card doesn’t offer any rewards or intro offers. Additionally, the annual fee for this card is $269.35 in the first year (including the application fee of $29.95) and $239.4 annually.

Overall, the Edge Elite Card is a good option for those looking for a low-maintenance store card with a $1000 credit limit and 0% financing. If you have a bad credit score or are looking to build or improve your credit history, this card may be a good option for you. However, if you are looking for rewards or intro offers, this card may not be the best choice.

Final Thoughts on Edge Elite Credit Card

After conducting thorough research and analysis on the Edge Elite Credit Card, I can confidently say that it is a decent option for individuals with poor credit who are looking for a low-maintenance card. The lack of an annual fee and the guaranteed approval make this card an attractive choice for those who have had trouble getting approved for other credit cards.

However, it is important to note that the Edge Elite Card does not offer any rewards or cashback programs. Additionally, the high fees associated with the card, including the application fee and the annual fee after the first year, may not make it the most cost-effective option in the long run.

Overall, the Edge Elite Card can be a useful tool for building credit and making purchases, but it is important to carefully consider the fees and lack of rewards before applying. As with any credit card, it is important to use it responsibly and make payments on time to avoid accruing interest and damaging your credit score.

Frequently Asked Questions

What are the benefits of the Edge Elite credit card?

The Edge Elite credit card offers a number of benefits to its users. One of the biggest benefits is that it doesn’t charge an annual fee. This makes it a great option for people who are looking for a low-maintenance credit card. Additionally, the Edge Elite card is designed for people with bad credit, which means that even if you have a poor credit score, you may still be approved for this card. The card also offers a high credit limit, which gives you the flexibility to make larger purchases and have some money available for emergencies.

How does the Edge Elite credit card compare to other credit cards for bad credit?

Compared to other credit cards for bad credit, the Edge Elite credit card offers a number of advantages. For one, it doesn’t charge an annual fee, which is a major plus. Additionally, the card is designed to be accessible to people with bad credit, which means that you may be approved even if you have a low credit score. The card also offers a high credit limit, which can be helpful if you need to make larger purchases or have some money available for emergencies.

Does the Edge Elite credit card report to credit bureaus?

Yes, the Edge Elite credit card reports to the major credit bureaus, which means that your credit activity will be recorded and can potentially help you improve your credit score. However, it’s important to note that if you don’t make your payments on time or if you default on your account, this can also negatively impact your credit score.

What is the credit limit for the Edge Elite credit card?

The credit limit for the Edge Elite credit card can vary depending on your individual creditworthiness. However, the card offers a credit limit of up to $1,000, which can be helpful if you need to make larger purchases or have some money available for emergencies.

How can I apply for an Edge Elite credit card?

You can apply for an Edge Elite credit card online through the Unique Card Services website. The application process is fast and easy, and you can typically get a decision within minutes. To apply, you’ll need to provide some basic personal and financial information, including your name, address, and income.

Are there any fees associated with the Edge Elite credit card?

Yes, there are some fees associated with the Edge Elite credit card. There is an application fee of $29.95, and there is also an annual fee of $239.40 after the first year. Ouch. Additionally, if you make a late payment or go over your credit limit, you may be charged a fee. It’s important to read the terms and conditions carefully so that you understand all of the fees associated with this card.