Destiny Mastercard® Credit Card review
The Destiny Mastercard® Credit Card can help improve your credit score with responsible use. Learn more about this unsecured card and how it can benefit you.
Destiny Mastercard® Credit Card: Enjoy the freedom of having an unsecured credit card.
Do you want to improve your credit score? If so, the Destiny Mastercard® Credit Card can help you get back on your feet. This card comes with a number of features that can help you boost your credit rating.
First Electronic Bank reports all monthly payments to the country’s main credit bureaus, which will help you build up your rating much faster.
In this review, we’ll take a closer look at the Destiny Mastercard® Credit Card and what it can do for your credit score.
We’ll also discuss some of the pros and cons of this card so that you can decide if it’s the right choice for you. So read on to learn more!
- Sign-up bonus: There is no sign-up bonus.
- Annual fee: $125 during year one and $49 every year after.
- Rewards: There are no rewards on purchases.
- Other perks: Doesn’t require a security deposit.
- APR: 35.9% fixed APR.
Destiny Mastercard® Credit Card: is it a good card?
The Destiny Mastercard® Credit Card is a solid choice for people who need to improve their credit rating but don’t want to or can’t put down a security deposit on a card.
The nationwide coverage by Mastercard provides users with a purchasing power even if their credit history is less-than-perfect. For anyone struggling with bad credit, this card can be the first step towards financial freedom.
The card has a $125 annual fee during the first year of usage. That amount is deducted from the client’s initial credit limit offered by the company. In year two, the annual fee drops to a modest $49, but there’s also a monthly fee of $10.40.
Destiny has a fixed APR of 35.9%, which is high even for an unsecured credit builder card. Therefore, to avoid accumulating interests it’s important to not carry a balance.
Destiny has a good approval rate and people with bad credit are welcome to apply. The card reports all payments to the three main credit bureaus in the U.S.
So, low credit utilization and timely payments can help build up credit ratings faster. To learn more details about the Destiny’s key features, pros and cons, keep reading our review below.
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Destiny Mastercard® Credit Card: should you get one?
If you’re looking to improve your credit history, the Destiny Mastercard® Credit Card could be a solid alternative. This card comes with a number of features that can help you boost your credit score, including monthly reporting to all three major credit bureaus.
However, there are also some drawbacks to consider before applying for it. Keep reading to learn more about the pros and cons of this card.
- Applicants with a bad credit history may qualify;
- Reports payments to Equifax, Experian and TransUnion;
- Doesn’t require a security deposit;
- $500+ initial credit limit.
- Charges monthly and annual fees;
- Doesn’t offer rewards on purchases;
- High APR.
What is the required credit score?
This card is perfect for people who are looking to improve their credit rating because it doesn’t require high scores for application. More than that, the card might be available to you even after you’ve filed for bankruptcy.
New applicants must go through a pre-qualification process in order to check their eligibility. But the approval rates for the Destiny cards are good even for people with poor scores.
Destiny Mastercard® Credit Card application
In this day and age, it’s more important than ever to have a good credit score. A high credit score means you can get lower interest rates on loans, and generally speaking, will have an easier time getting approved for most things.
If you’re looking for a way to improve your credit score, the Destiny Mastercard® Credit Card can help you get there. Follow the link below to learn more about how to apply!
About the author / Aline Barbosa
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