Celtic Bank is a privately owned industrial bank founded in 2001. Its headquarters are located in Salt Lake City, Utah, and although it has no branch offices in other locations, those interested in applying for credit cards, loans or other lines of credit can still easily do so online. The bank has a comprehensive online presence and allows for easy online applications to any US resident that meets its requirements.
The Celtic Bank has been ranked as one of the top SBA lenders since 2013, and it primarily focuses on offering financial products and services to small business owners. Businesses in need of working capital, equipment financing, refinancing, real estate purchases, and more often consider Celtic Bank as their preferred business lender.
Celtic Bank Offers Credit Cards
Besides offering lines of credit to business owners, Celtic Bank also offers credit cards to individuals with good, poor or damaged credit history. Regardless of the type of credit chosen, cardholders and borrowers can rest easy knowing that all Celtic Bank financial products are insured by the FDIC.
Some of the Celtic Bank’s financial products include:
- Credit Cards
- Commercial and residential construction loans
- SBA 7(a) and SBA 504 loans
- Asset-based credit
- USDA B&I loans
- Conventional equipment finance
- Lines of credit
Types of Cards Offered at Celtic Bank
Celtic Bank primarily issues credit cards from the Mastercard network, and this offers a variety of different perks to the cardholders.
Mastercard credit cards are renowned across the world and are accepted in over 210 countries. If you have a card from this network, you can rest easy knowing you’ll be able to use it for making purchases virtually anywhere where credit cards are accepted.
Mastercard’s perks include
- ID theft protection
- Zero fraud liability
- Discounts and memberships
- Purchase protection
Not all card network perks are offered by the card issuer, so you will have to check with Celtic Bank to find out exactly which ones you’ll be offered with your new credit card.
Celtic Bank Credit Cards
Celtic Bank currently offers 6 types of credit cards, all of them belonging to the Mastercard network:
These cards have their own unique applicant requirements that you have to meet before you are approved.
Celtic Bank Cards for good to Poor Credit
The Celtic Bank offers personal credit cards that are designed to help the cardholders to improve their credit score and achieve better financial stability.
The Surge Mastercard offered by Celtic Bank, for example, accepts applicants with less-than-stellar credit scores, while the Deserve Edu is ideal for college students with little to no credit history at all.
Celtic Bank offers both secured and unsecured versions, depending on your creditworthiness and overall credit score.
As a general rule of thumb, if you have a poor credit score, you’ll often be much better off applying for a secured credit card. These cards require you to make a deposit (where the amount of your deposit typically equals your credit limit) and have much lower application requirements, making your credit card approval almost guaranteed. Thus, secured credit cards often come with much lower rates and fees, and more favorable overall conditions.
With unsecured cards, you’ll normally encounter much greater rates and fees if you have a poor credit score, and these cards can make it more difficult for you to improve your credit score.
Regardless of which Celtic Bank credit card you apply for, your behavior as a cardholder will be reported to all three of the major credit bureaus: Equifax, TransUnion, and Experian. As long as you use your Celtic Bank credit cards responsibly, you should quickly see an improvement in your credit score.
You can access your online account any time to check your balance and ensure that all your credit card debts are paid off and that your credit utilization ratio is below 30%.
Celtic Bank Eligibility Requirements
Business owners applying for a business line of credit can have varying requirements depending on their creditworthiness. The general requirements for business owners when applying for an SBA loan include, but are not limited to:
- A personal credit score of 680+ (Check Your Score!)
- No recent bankruptcies
- A year of profitability
If you’re applying for one of Celtic Bank’s credit cards for good or poor credit, the eligibility requirements are not nearly as strict:
- You need to be of legal age (18+)
- US resident
- Have a valid current address
- Have a checking account
Most credit cards for poor credit accept applicants with any credit score and depending on which credit card you’re applying for, you might not even need to have a credit history at all.
Interested applicants can pre-qualify for most Celtic Bank credit cards to see whether they meet the basic requirements. It’s important to note, however, that even if you do pre-qualify for a Celtic Bank card, this doesn’t guarantee that your ultimate application will be accepted. (See Guaranteed Credit Cards)
Only once you apply for a credit card will Celtic Bank do a full credit check and examine whether you meet all the requirements. If you do not, your application will be denied.
Seeing as Celtic Bank primarily operates as an online bank means that the application process tends to be simpler and more straightforward. Applicants can complete the entire process entirely online and receive their results relatively quickly.
Applicants simply need to fill out the online form on Celtic Bank’s website and wait for the results.
Online applications don’t differ much from in-person applications, and you’ll still need to provide all the essential pieces of information for your credit card application to be considered.
To make the entire process faster and simpler, it’s a good idea to gather the vital pieces of information and have them on hand while you’re filling your application out. Some of the information you’ll need includes:
- Your name and social security number
- Valid current address
- Employer information
- Details about your income
- Federal income tax returns
While Celtic Bank doesn’t actually offer instant decision credit cards, the fact that they allow for online applications often means that you’ll quickly receive a notification telling you whether your application’s been approved or not. In some instances, you might even receive a notification within just a few minutes. However, you’ll typically wait between 5 and 10 business days – still a much quicker process than when you’re applying for a card in-person.
Celtic Bank Pros
One of the biggest advantages of applying for a Celtic Bank credit card is that almost all applicants can be approved. Personal credit cards offered by this issuer are designed for those with a poor credit score or limited credit history, so the application requirements are rather limited. Virtually any credit score will be considered, and this is a huge plus.
Another great advantage is the fact that you have online access to your credit account 24/7. Whether it’s the middle of the night or a holiday, you can always check your balance and see where you stand.
Celtic Bank can be contacted via phone, email, or even on social media, and the staff is always ready to help. Compared to some other credit card issuers, Celtic Bank’s customer service is truly outstanding.
Celtic Bank Cons
No credit card network is perfect, and Celtic Bank has some cons of its own. The biggest problem with most credit cards for poor credit is the high rates and fees. Celtic Bank’s Surge credit card, for example, has an annual fee of $125 in the first year ($96 after the first year), a $30 fee for adding an authorized user, a monthly maintenance fee after the first 12 months, and more.
It can make this card very expensive to hold and can deter most people from applying. It’s crucial to learn about all the possible rates and fees you can expect to pay before you actually apply for a credit card. Otherwise, you might be unpleasantly surprised.
Celtic Bank Customer Service & Contacts
Toll-Free Number: 800-509-6191
Corporate Headquarters: 800-854-7848 (Toll-Free), 801-363-6500, 801-363-6562.
Fax Number: 801.363.6562
Online Contact Form/ Chat: celticbank.com/contact-us
Emails: [email protected] or [email protected].
Corporate Office Address: 268 South State Street, Suite 300, Salt Lake City, Utah 84111
Hours of Operation: MON-FRI 9AM-5PM (MST)
The Bottom Line
As an issuer of credit cards for good and poor credit, Celtic Bank truly stands out. It generally offers favorable terms and conditions, it’s reliable, and cardholders can easily improve their credit scores, as long as they’re using their cards responsibly.
Celtic Bank can be a good choice for anyone, but it’s always important to research at least a few different issuers before you commit – this will ensure that you find the best issuer for you.
Celtic Bank Frequently Asked Questions
Yes, Celtic Bank does offer credit cards for poor credit. This issuer has rather low requirements for its applicants, and almost anyone, regardless of their credit score, can be approved for one of their cards.
Celtic Bank credit cards can be ideal for those who are just starting their credit history or have poor or damaged credit scores.
If you don’t qualify for one of the bank’s unsecured credit cards, you might be eligible for their secured versions. You’ll be required to make a deposit, but you’ll be much more likely to be approved for a card.
Celtic Bank is headquartered in Salt Lake City, Utah. The bank doesn’t have any other branch offices in other locations, but this doesn’t mean that you cannot apply for their cards if you’re located in a different city or even in a different state.
Celtic Bank offers online applications to all eligible US residents, so if you believe that this issuer is the right choice for you, you can easily and securely apply for their credit cards online or over the phone.
Online applications are faster and more convenient, and you’ll normally receive a notification about the status of your application more quickly.
Celtic Bank currently offers 6 different credit cards to its applicants, and each of these cards comes with unique rates and fees that can vary according to your creditworthiness.
If you have a higher credit score and a higher income, you can expect to be offered much more favorable rates and fees, and you’ll be able to apply for an unsecured credit card.
Although you’ll need to make a deposit, the rates you’ll have to pay will be much more affordable.
Since Celtic Bank mainly offers credit cards that belong to the Mastercard network, you’ll be able to use your Celtic Bank credit cards in any country where Mastercard is accepted.
Mastercard is available in over 210 countries, and millions of online (and offline) merchants accept cards in this network.
However, if you decide to use your Celtic Bank Mastercard credit card abroad, you need to know that you will incur high foreign transaction fees, and possibly even currency conversion fees. If possible, you should only use no foreign transaction fee credit cards when you’re abroad.
Yes, Celtic Bank can help its clients to improve their credit scores. Celtic Bank reports its clients’ credit behavior to all three major credit bureaus, Equifax, TransUnion, and Experian regularly. This will ensure that your credit card usage will be reflected on your credit score.
As long as you’re using your Celtic Bank credit card responsibly, you’ll be able to build up your credit score. This means that you’ll need (a) to pay off all of your credit card debts on time, (b) try not to carry a balance, (c) reduce your credit utilization ratio, and more if you want to improve your score or build up your credit history quickly.