The
Destiny Mastercard® is not a good option for most people because it charges high fees and has a
35.9% APR. The
Destiny Mastercard® can help people with bad credit improve their credit score and borrow modest amounts, but other cards can do the same thing at a lower cost.
Below, you can find more information that will help you decide whether or not to start the process of applying for the
Destiny Mastercard®.
Destiny Credit Card Review Highlights
High Annual Fee
The Destiny Credit Card annual fee is
$175 the first year and
$49 after that. For context, the average annual fee among new credit card offers is
$22.29. Furthermore, several credit cards for people with bad credit have no annual fee.
Monthly Fee: $0 1st yr, $12.50 after
Most credit cards do not charge monthly fees. If you apply for this card, aim to improve your credit score enough in one year to upgrade to a cheaper offer.
High APR
The
Destiny Mastercard® interest rate is
35.9%. That’s well above the average APR among new credit card offers right now.
Reports to the Major Credit Bureaus
The
Destiny Mastercard® reports account information to TransUnion, Equifax and Experian on a monthly basis. That means on-time payments and low credit utilization will help you improve your credit score. You can track your progress with free credit reports and scores from WalletHub.
No Rewards
The
Destiny Mastercard® is not one of the few credit cards for people with bad credit that reward cardholders for making purchases.
No Security Deposit
The
Destiny Mastercard® is not a secured credit card, which means you will not have to place a refundable security deposit to get it. The downside to that is cards with a security deposit usually have lower fees.
People with Below-Average Credit Can Get Approved
The
Destiny Mastercard® is a good credit card to use after bankruptcy, for example, as that type of negative credit history won’t disqualify an applicant.
$700+ Credit Limit
The
Destiny Mastercard® is an unsecured credit card that gives cardholders a credit limit of at least
$700 to start. That does not mean you have the full
$700 available to spend immediately, however, as the card’s first annual fee is charged when you open the account.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.