Our verdict: The Prosper Card is an open-application unsecured card with a $59 annual fee, waived the first year if you enroll in AutoPay before your first statement. Its most important number is the one the marketing page never shows: a 22.49%–33.99% variable APR, disclosed only in the cardholder agreement. Paid in full each month it is a workable credit builder; carried at these rates it is not.
| Annual fee | $59; waived the first year if you are approved and enroll in AutoPay before your first statement |
|---|---|
| Monthly fees | None |
| Purchase APR | 22.49%–33.99% variable (Prime + 15.74%–27.24%), contractual maximum 36% · not displayed on the marketing page; disclosed in the cardholder agreement |
| Rewards | Merchant-offer cashback (“offers from 1000s of retailers”), not a flat rate |
| Credit check | Soft-pull prequalification (“won’t affect your credit score”); whether the full application adds a hard inquiry is not published on a primary source we could verify |
| Reports to | “Regular credit bureau reporting” (Prosper’s wording; specific bureaus not named on a primary source we could verify) |
| Starting limit | $500–$3,000 |
| Issuer | Coastal Community Bank, Member FDIC |
Terms verified August 26, 2026 against Prosper’s credit card page and the cardholder agreement.
What the Prosper Card costs
The annual fee is $59. Prosper waives it for the first year on one condition: you must be approved and enrolled in AutoPay before your first statement closes. Miss that window and the fee applies from year one.
The purchase APR is the finding of this review. Prosper’s marketing page does not display an APR anywhere; the number lives only in the cardholder agreement. There, the rate is 22.49%–33.99% variable, calculated as the Prime Rate plus a margin of 15.74%–27.24%, with a contractual cap of 36%. It is a range, not a single price: your margin is assigned at approval, and you will not know where in that range you land until then. The cash advance APR is 33.99%. Read the agreement before you apply, not after.
The rest of the fine print: a late fee of $29 the first time and $40 for another late payment within six billing cycles, a 1% foreign transaction fee, and a $1.00 minimum interest charge in any cycle where interest is owed.
How the credit line and rewards work
Initial limits run $500–$3,000. Prosper conducts automatic account reviews that, in its own words, can increase, decrease, or leave the line unchanged. The decrease possibility is worth registering: a lowered limit raises your reported utilization without you spending a dollar more. At approval you get a digital card carrying 50% of your limit; the remainder unlocks when the physical card arrives, quoted at 7–10 business days.
Rewards are a merchant-offer cashback program, “offers from 1000s of retailers,” not a flat rate on all spending. What that is worth depends entirely on whether the participating merchants overlap with places you already shop; there is no baseline earn rate to fall back on.
Two disclosure gaps to be aware of. Prosper advertises soft-pull prequalification that will not affect your credit score, but whether submitting the full application then adds a hard inquiry is not published on a primary source we could verify. And while Prosper promises “regular credit bureau reporting,” it does not name the specific bureaus on a primary source we could verify.
Who should get it
- You want an unsecured builder card with no deposit, you will enroll in AutoPay immediately to capture the first-year fee waiver, and you pay in full monthly
- You want a limit that can start as high as $3,000, which is more starting headroom than most builder cards offer
Who should skip it
- Anyone who expects to carry a balance: at 22.49%–33.99% variable, a deposit-backed card is the cheaper path. See our Capital One Platinum Secured review ($0 annual fee) and OpenSky Plus review
- Anyone who wants named-bureau reporting in writing before applying; Prosper does not publish which bureaus receive its reporting
- Anyone still weighing deposit vs. fees should start with our explainer on secured vs. unsecured cards
Check the current offer at Prosper
Prosper’s CFPB complaint record
Prosper Marketplace, Inc. drew 332 CFPB complaints in the 12 months ending September 9, 2026, led by “Incorrect information on your report” (85), followed by “Improper use of your report” (33) and “Problem with a company's investigation into an existing problem” (28). One caveat on reading these figures: the CFPB entity covers Prosper’s lending marketplace and its card business combined, so the counts are not specific to the Prosper Card.
Methodology: raw complaint counts from the CFPB Consumer Complaint Database; figures on this page refresh automatically each week. Counts aren’t rates — the CFPB publishes no customer-base denominator, so don’t compare totals across companies of different sizes.
Frequently asked questions
What bank issues the Prosper Card?
Coastal Community Bank, Member FDIC. The issuer is named on Prosper’s credit card page and in the cardholder agreement.
What is the Prosper Card’s APR?
22.49%–33.99% variable, calculated as the Prime Rate plus a margin of 15.74%–27.24%, with a contractual maximum of 36%. The APR is not shown on Prosper’s marketing page; it is disclosed in the cardholder agreement, and your specific rate within the range is set at approval.
Does the Prosper Card have an annual fee?
Yes, $59 per year. It is waived for the first year if you are approved and enroll in AutoPay before your first statement.