The Perpay Credit Card is an unsecured Mastercard for building credit that charges no annual fee but does charge a $9 account opening fee plus a $9 monthly service fee, with an APR of 27.74% to 29.99% — notably lower than most cards in this credit tier, according to Perpay’s official terms and U.S. News.
Issued by Celtic Bank and powered by the fintech Deserve, Perpay targets consumers with limited or damaged credit who want to avoid a security deposit. The card requires an active payroll direct deposit to Perpay, and payments are drawn automatically from each paycheck. Approved cardholders start with a $300 credit limit, and the account reports monthly to Experian, TransUnion, and Equifax.
Key Details at a Glance
| Feature | Details |
|---|---|
| Issuer | Celtic Bank, powered by Deserve |
| Annual Fee | $0 |
| Account Opening Fee | $9 (one-time, deducted from first direct deposit) |
| Monthly Service Fee | $9/month (starts month one) |
| APR | 27.74%–29.99%, variable with Prime Rate |
| Starting Credit Limit | $300, can increase in as few as 3 months |
| Rewards | 2% back on Perpay Marketplace purchases only |
| Foreign Transaction Fee | 3% of each transaction |
Applicants can apply through the official Perpay website, which does not run a hard credit check on your primary FICO or VantageScore during the application process.
The Payroll Requirement Is the Real Tradeoff
Perpay’s APR of 27.74% to 29.99% is genuinely lower than most cards built for damaged credit — cards like Milestone, Reflex, and Imagine typically carry APRs in the mid-30s. That gap matters if you ever carry a balance.
The catch is structural, not just financial. According to Perpay’s help center, you must maintain an active payroll direct deposit relationship with Perpay to keep the account open. This works well for someone comfortable redirecting part of their paycheck, but it’s a hard requirement, not an option — unlike every other card in this category, which only asks for a bank account.
Pros and Cons
Pros
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Cons
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Who Should Get This Card
The Perpay Credit Card fits some financial situations better than others.
| Profile | Fit |
|---|---|
| Comfortable redirecting part of their paycheck | Good fit — required for the account, not a drawback if already planned for |
| Worried about carrying a balance occasionally | Good fit — lowest APR of the cards in this category |
| Doesn’t want to change direct deposit setup | Poor fit — consider the Destiny Mastercard instead |
| Wants cash back on everyday spending | Poor fit — try our Imagine Credit Card review instead |
If the payroll requirement doesn’t work for your situation, our Reflex Mastercard review covers another Celtic Bank card with a standard bank account requirement instead.
Frequently Asked Questions
Is the Perpay Credit Card a legitimate credit card?
Yes. Perpay is issued by Celtic Bank, an FDIC-insured Utah industrial bank, and powered by Deserve, Inc. It reports account activity to Experian, TransUnion, and Equifax every month.
Does the Perpay Credit Card require a security deposit?
No. Perpay is an unsecured credit card, meaning approved applicants don’t need to put down any cash deposit to open the account.
Does applying for the Perpay Credit Card hurt my credit score?
No. Perpay does not run a hard credit check on your primary FICO or VantageScore during the application process, so checking your eligibility doesn’t affect your score.
How much does the Perpay Credit Card cost per year?
There’s no annual fee, but the $9 monthly service fee adds up to $108 per year, plus a one-time $9 account opening fee in year one — totaling around $117 in the first year.
Do I have to use direct deposit with Perpay?
Yes. Maintaining an active payroll direct deposit relationship with Perpay is required to open and keep the credit card account active.
Disclaimer: We are not financial advisors. This review is for informational purposes only and reflects publicly available terms as of 2026. Card terms, fees, and APRs can change — always confirm current details directly with the issuer before applying.