Destiny Mastercard® will give you a $700 credit limit with no security deposit required. Is that what you are looking for? If so, read this article to learn more about this card. See the perks of a credit card that can help you build credit!
Destiny Mastercard: The card you need to build your credit with confidence
If you’re wondering whether or not there’s a card out there that can help you improve your score, this Destiny Mastercard® review is tailor-made for you.
In this article, we’ll go over the pros and cons of getting a Destiny Mastercard®, so that you can weigh them and make an informed decision.
We’ll also give you tips on improving your credit score so that you may be eligible for a better card in the future.
If you’re interested in this information, please, keep reading.
Destiny Mastercard: A Path to Rebuild Your Credit
If you’re navigating financial difficulties and have a low credit score, know that you’re not alone. According to Experian’s consumer credit analysis, 16% of Americans have poor credit, while 18% fall into the fair credit category. This can make it challenging to obtain a credit card or secure a loan.
But how can you build credit without having any? Fortunately, some financial institutions offer cards specifically designed to address this issue. The Destiny Mastercard® is one such option.
Issued by Concora Credit Inc., the Destiny Mastercard® considers applications even from those with less-than-perfect credit. However, several factors will influence the terms you receive. The card comes with an annual fee of $175 for the first year, which reduces to $49 in subsequent years.
This card doesn’t include a rewards program or a welcome bonus, focusing instead on providing a credit line. It’s essential to avoid late payments, as the fees can be steep.
Is the Destiny Mastercard Right for You?
If your credit score is low, your options might be limited. While the Destiny Mastercard® doesn’t offer many perks, it can serve as a stepping stone. Use it responsibly for a few months, and you may soon qualify for a card with better benefits and lower fees.
Here are some pros and cons to help you decide:
Pros:
- Applications are accepted regardless of credit score (though not everyone will be approved).
- Start with a credit limit of up to $700.
- No security deposit is required.
- Helps build your credit score by reporting to all three major credit bureaus.
Cons:
- An annual fee is charged, which is deducted from your credit limit in the first month.
- The fee is $175 for the first year and $49 thereafter.
- High late payment fees of up to $41.
What Credit Scores Are Needed?
The Destiny Mastercard® is geared toward individuals with less-than-ideal credit scores. Whether your score is poor or fair, you can apply and may be approved.
Once you receive your card, using it responsibly—making payments on time and keeping your balance low—can help you improve your credit score. Over time, this can open the door to credit cards with rewards programs and additional benefits.
How to Apply for the Destiny Mastercard
Applying for the Destiny Mastercard® is straightforward and can be done online. We’ll provide more details about the application process in the content that follows.