If you are having imperfect credit, then the Destiny master card is perfect for you. However, there are both benefits as well disadvantages of using this credit card. Here, we have made a Destiny Mastercard review so that you’ll be able to know whether it’s good or not.
Destiny Mastercard offers pre-qualification in less than one minute and reports all the transaction history to the major credit bureaus that include Experian, Equifax, and TransUnion. It is an unsecured credit card with a fixed APR of 24.90% and an annual fee of $59-$99.
In this review, we are going to disclose the best features of the Destiny Mastercard, its drawbacks, and the benefits of using it. Apart from it, we have also made a comparison of this card with other secured cards.
We can’t mention the full details here, so you should read the complete article in order to know more about the Destiny MasterCard.
Destiny Mastercard Credit Card Review
There are several benefits of having a Destiny MasterCard as it includes both identity theft protection as well as zero liability protection. If there are benefits, there are drawbacks too. In order to get the full knowledge, let’s move further step by step.
Best Features of Destiny MasterCard
The credit card has one major advantage that other cards might not have. There’s no need to have a high credit score in order to get the Destiny MasterCard. People with bad credit can also apply for this card.
- Without a security deposit, you can access all the benefits of this MasterCard.
- If your credit score is less than perfect, it will also work
- Your credit history will automatically improve if you keep your account stable.
- You can know in one minute whether you are eligible for this card or not.
- Your reports will be sent to all three major credit bureaus.
- It has a $0 monthly maintenance fee.
- The one-time application fee is also $0.
Destiny Mastercard features low-interest rates on purchases and balance transfers. However, you’ll have to pay an annual fee of $59-$99. The starting credit limit on this card is $300 and you’ll be billed annually on the first billing statement.
Drawbacks of Destiny MasterCard
The major drawback of the Destiny MasterCard is that it has a high annual fee as well as a high annual percentage rate.
Apart from that, this credit card doesn’t come with a reward program. It means you’ll not be able to earn bonuses as you earn with other credit cards.
Destiny Mastercard has a 1% foreign transaction fee which means the 1% of the money would be charged for doing a transaction outside the U.S.
You may opt for over-limit coverage but It has an over-limit fee of $40. As this card lets you spend $300, if you spend more than that, you’ll be charged $40 as over-limit fees. This can result in poor credit.
Destiny Mastercard has a fixed APR of 24.90% which is higher than most U.S credit cards.
Comparison to Other Secured Cards
Benefits: You’ll get both zero liability protection as well as Identity theft protection in the Destiny MasterCard. However, other credit cards like Platinum Prestige MasterCard include extended warranty coverage, purchase protection, etc.
Annual fee: If we compare the annual fee of Destiny Mastercard with other credit cards, it has a high annual fee of $59-$99 whereas other credit cards also charge an annual fee but most of them offer a $0 fee for the first year.
Rewards and Sign-up bonus: Unlike other credit cards, Destiny Mastercard does not offer reward programs and hence there are no sign-up bonuses.
This was the complete review of the Destiny MasterCard. Although there is no doubt that it is one of the best Mastercards, it also has some disadvantages.
Featured Image Credit: news.darden.virginia.edu
What is destiny Mastercard?
It is an unsecured credit card by First Electronic Bank and it is best for people who have bad to fair credit.
Is destiny Mastercard a good credit card?
If we compare the annual fee of Destiny Mastercard with other credit cards, it has a high annual fee of $59-$99 whereas other credit cards also charge an annual fee but most of them offer a $0 fee for the first year. However, if you want to improve your credit score, then this credit card is best for you.