Key takeaways
- The Destiny Mastercard offers an initial $700 credit limit, providing instant purchasing power without the need for a security deposit.
- This card helps build or rebuild credit by reporting monthly to all three major credit bureaus.
- Cardholders enjoy 24/7 online account access and $0 Fraud Liability for added convenience and security.
If you have poor to fair credit and want an unsecured credit card, we have one for you! The Destiny Mastercard is perfect for anyone looking to build or rebuild their credit. This card is accessible and convenient, offering 24/7 online account access to monitor your spending and manage your payments. With a credit limit of up to $700, it provides the flexibility you need without the burden of a security deposit. Plus, you can enjoy the peace of mind of knowing that your credit score can improve with responsible use. Interested?
Read on to learn more about why the Destiny Mastercard may be the ideal choice for you.
What we like about Destiny Mastercard
All Credit Scores Welcome
The Destiny Mastercard is the perfect card for individuals with poor to fair credit. This card is designed to be accessible to those who might have struggled with their credit in the past, including individuals who have faced prior bankruptcy.
Destiny understands the challenges of building or rebuilding credit and has created a card that makes this process more manageable. With the Destiny Mastercard, you can start taking steps toward improving your credit score without the need for a security deposit.
The application process is straightforward, and you have a real chance of being approved even if your credit history isn’t perfect. By using the card responsibly, you can demonstrate good financial habits and gradually enhance your credit profile. This makes the Destiny Mastercard an excellent option for those committed to improving their financial future.
Get a $700 Credit Limit!
The Destiny Mastercard offers an initial credit limit of up to $700, which is notably high for an unsecured card catering to individuals with poor to fair credit scores. This generous credit limit provides cardholders with a moderate amount of purchasing power, allowing them to manage their finances more effectively. With this limit, you can handle essential expenses, make larger purchases, or even cover emergency costs without feeling constrained.
Additionally, having a higher credit limit can positively impact your credit utilization ratio. Your credit utilization ratio is how much of your available credit you’re using. This is a key factor in calculating your credit score. Experts recommend only using 30% of your limit. A higher limit gives you more flexibility and makes it easier to have a good utilization ratio and, therefore, improve your credit score.
Build Credit
A significant advantage of the Destiny Mastercard is its ability to help users build or rebuild their credit. The card reports monthly payments to all three major credit bureaus: TransUnion, Equifax, and Experian. This regular reporting is crucial because it allows these bureaus to track your credit activity and evaluate your creditworthiness over time. Your score will not improve without credit reporting.
To see positive changes in your credit score, it’s essential to use your card responsibly. Pay your bills on time and in full every month, and avoid using more than 30% of your credit limit. By doing so, you’ll demonstrate good financial habits, which the credit bureaus will notice, leading to an improved credit score.
Pro tip: Use your card wisely. Make on-time payments and keep your balances low to ensure your credit score starts climbing. With consistent, responsible use of the Destiny Mastercard, you can steadily enhance your credit profile, opening doors to better financial opportunities in the future.
Easily Prequalify and Apply
The Destiny Mastercard allows you to prequalify instantly before you apply. The prequalification process involves only a soft credit check, which means it won’t negatively impact your credit score. Being prequalified does not guarantee you’ll be approved, but it lets you know if you meet the basic criteria.
Great Card to Build or Rebuild Credit!
“Destiny is a great card! Yes, the interest rate is high, but not as high as many. The website makes keeping up with spending easy and payments are a breeze! I highly recommend this card!” Credit Karma ReviewKnowing whether or not you have a good chance of approval without affecting your credit is a significant benefit. Once you prequalify, you can proceed with the full application, which is quick and straightforward. You’ll receive the results of your application in 60 seconds or less, providing immediate clarity on your approval status. If approved, you can expect to receive your new Destiny Mastercard within 14 business days.
Enjoy Mastercard’s Universal Appeal
The Destiny Mastercard comes with all the benefits and universal acceptance associated with the Mastercard network, making it a versatile choice for your financial needs. As a widely accepted payment method, you can use your Destiny Mastercard for purchases and transactions at millions of locations around the world. Whether you prefer shopping online, in-store, or through mobile apps, this card provides you with the convenience and flexibility to fit your lifestyle. From everyday expenses like groceries and gas to special purchases and travel bookings, the Destiny Mastercard ensures you have a reliable payment option wherever you go.
Additionally, Mastercard’s global reach offers added security and peace of mind, knowing that your card is backed by a trusted and reputable network. This universal acceptance makes the Destiny Mastercard an excellent choice for anyone looking to manage their finances with ease and flexibility.
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Get $0 Fraud Liability
The Destiny Mastercard provides robust protection with its $0 Fraud Liability feature, ensuring you are not held responsible for unauthorized charges. If your card is lost, stolen, or used fraudulently, you can rest assured that you won’t have to bear the financial burden of those transactions. This important benefit allows you to use your card with confidence, knowing that your financial security is safeguarded.
Mastercard’s $0 Fraud Liability policy offers peace of mind, as it promptly addresses any suspicious activity on your account. In the unfortunate event of card loss or theft, you can quickly report it and receive assistance in resolving the issue without incurring costs. Be sure to report any suspicious activity promptly, as it helps the issuer resolve the problem faster without any harm to you.
This level of protection makes the Destiny Mastercard a reliable choice for managing your finances, providing you with the security and reassurance needed in today’s digital age. Enjoy the peace of mind that comes with knowing your card and finances are protected by Mastercard’s trusted fraud prevention measures.
Safeguard Your Identity
Another advantage of the Destiny Mastercard is the inclusion of Mastercard ID Theft Protection. One of the standout features of the Destiny Mastercard is the inclusion of Mastercard ID Theft Protection. This comprehensive service is designed to safeguard your personal information against the ever-present threat of identity theft. With proactive monitoring, the service continuously scans for suspicious activity related to your identity, ensuring that any potential threats are detected early. You’ll receive timely alerts if any unusual activity is identified, allowing you to take immediate action to protect your financial well-being.
In the unfortunate event that your identity is compromised, Mastercard ID Theft Protection provides expert assistance to help you navigate the recovery process. This includes support for restoring your identity and resolving fraudulent charges, giving you peace of mind. With the Destiny Mastercard, you can feel confident that your personal information is being actively protected, allowing you to focus on your financial goals without the constant worry of identity theft.
What to watch out for with Destiny Mastercard
The Cost of Convenience: Fees
The Destiny Mastercard, while offering numerous benefits, does come with certain fees that cardholders should be aware of. These include an annual fee and a late payment fee.
The annual fee is a cost associated with the privilege of building or rebuilding your credit with the Destiny Mastercard. This fee is competitively set at $75 for the first year and increases to $99 for each subsequent year. This is a reasonable charge considering the card’s benefits, such as credit building and fraud protection. It is also a very common fee for cards aimed at applicants with poor credit.
Additionally, there is a late payment fee that you will incur if you miss a due date. Although no one plans to miss a payment, it is crucial to be aware of this fee to avoid unnecessary charges. To steer clear of late payment fees, consider setting up automatic payments or reminders to help you stay on track with your payment schedule. Making timely payments not only helps you avoid extra costs but also positively impacts your credit score, aiding in your financial journey.
Competitive APR
The Destiny Mastercard features a competitive APR (annual percentage rate), currently set at a fixed rate of 24.90%. This fixed rate provides cardholders with stability and predictability, a significant advantage for those who prefer to have a clear understanding of their interest costs. Knowing exactly what your interest rate will be each month allows for better financial planning and budgeting.
It’s important to note, however, that while this APR is competitive within the market for credit-building cards, it is higher compared to cards available to individuals with good to excellent credit. For those working to rebuild or establish their credit, this trade-off can be worthwhile. By focusing on making timely payments and, whenever possible, paying off the balance in full each month, cardholders can effectively manage their interest costs. This disciplined approach not only helps in keeping expenses down but also contributes positively to improving your credit score over time.
Navigating Foreign Transaction Fees
When planning to use your Destiny Mastercard overseas or for purchases from foreign online retailers, it’s essential to understand the foreign transaction fees associated with the card. The Destiny Mastercard charges a fee of 1% on each transaction made outside of the United States. This additional expense is relatively standard across credit cards. All cards – except most travel rewards cards – charge a fee for the convenience and security of using your card internationally.
To navigate these fees effectively, be mindful of your spending habits abroad and plan your budget accordingly. This way, you can factor the foreign transaction fee into your overall expenses and avoid unexpected surprises on your statement.
Additionally, consider using your card for larger, necessary purchases while traveling, and use cash for smaller, everyday expenses to minimize the impact of these fees. By staying informed and planning ahead, you can enjoy your international transactions with peace of mind.
Bottom Line
The Destiny Mastercard is a good opportunity for individuals with poor to fair credit to rebuild their credit history through responsible card usage. As an unsecured card, it eliminates the need for a security deposit, allowing you to get started without the requirement of significant savings. With an initial credit limit of $700, this card provides a substantial amount of purchasing power, making it easier to manage everyday expenses while working on your credit score. The card’s monthly reporting to all three major credit bureaus—TransUnion, Equifax, and Experian—ensures that your positive payment history is recorded, aiding in the improvement of your credit profile.
Additionally, 24/7 online access to your account makes it convenient to monitor your spending and payments at any time. If you need to improve your credit, consider checking if you prequalify for the Destiny Mastercard. With its range of features and benefits, it might just be the card you’ve been searching for to help you on your journey toward better credit.
