The Destiny Mastercard is a legitimate credit card issued by Concora Credit Inc, a reputable financial services company. It is designed for people with poor or fair credit and can be a helpful tool for rebuilding credit if used responsibly. However, it’s important to be aware of the card’s high fees and limited benefits before applying.
Purchase APR Rate: See terms – Annual Fee: See terms – Credit Needed: Poor to Good – Foreign Transaction Fee: 1% of each transaction in U.S. dollars.
Pros of the Destiny Mastercard:
- No security deposit: Unlike secured credit cards, the Destiny Mastercard does not require a security deposit.
- Reports to major credit bureaus: The Destiny Mastercard reports your payments to all three major credit bureaus (Experian, Equifax, and TransUnion), which can help you improve your credit score if you make payments on time and in full.
- Unsecured credit card: The Destiny Mastercard is an unsecured credit card, which means you don’t need to provide collateral to get approved.
- Quick and easy pre-qualification: You can pre-qualify for the Destiny Mastercard online without impacting your credit score.
Cons of the Destiny Mastercard:
- High annual fee: The Destiny Mastercard has an annual fee of $35, which is relatively high compared to other credit cards for bad credit.
- High variable purchase APR: The Destiny Mastercard has a variable purchase APR of 24.99% – 35.99%, which is also high compared to other credit cards.
- Late payment fee: The Destiny Mastercard charges a late payment fee of $40, which is significantly higher than the average late payment fee of $30.
- Low credit line: The Destiny Mastercard typically has a low credit line, ranging from $300 to $700.
Overall, the Destiny Mastercard can be a helpful tool for rebuilding credit if you use it responsibly. However, it’s important to be aware of the card’s high fees and limited benefits before applying. If you can find a credit card with lower fees and better benefits, it may be a better option for you.
What is the credit limit for the Destiny Mastercard?
The Destiny Mastercard has a starting credit limit of $300. However, your actual credit limit will be determined by your creditworthiness. The maximum credit limit for the Destiny Mastercard is $700.
Here is a table of the possible credit limits for the Destiny Mastercard:
|Starting Credit Limit
|Maximum Credit Limit
|670 or lower
|760 or higher
Please note that these are just estimates, and your actual credit limit may be higher or lower. The best way to find out your credit limit is to contact Destiny Mastercard customer service.
Here are some factors that can affect your credit limit:
- Your credit score: The higher your credit score, the more likely you are to be approved for a higher credit limit.
- Your income: Your income will also be a factor in determining your credit limit. The more you earn, the more likely you are to be approved for a higher credit limit.
- Your credit history: Destiny Mastercard will also look at your credit history, including the length of your credit history, your credit utilization ratio, and the number of recent inquiries on your credit report.
If you are approved for a low credit limit, you may be able to request a credit limit increase after six months of responsible credit card use. To request a credit limit increase, you will need to contact Destiny Mastercard customer service.
Is Destiny Mastercard for people with bad credit?
Yes, the Destiny Mastercard is designed for people with bad credit. It has no security deposit requirement (it is an unsecured credit card) and reports to all three major credit bureaus, which can help you improve your credit score if you use it responsibly. However, it also has high fees and a relatively low starting credit limit, so it’s important to be aware of the pros and cons before applying.
If you’re considering applying for the Destiny Mastercard, it’s important to weigh the pros and cons carefully. If you’re disciplined with your spending and can make payments on time and in full, it can be a helpful tool for rebuilding your credit. However, if you’re not careful, you could end up racking up high fees and interest charges.
Here are some tips for using the Destiny Mastercard responsibly:
- Only charge what you can afford to pay off each month.
- Make payments on time and in full to avoid late fees and interest charges.
- Keep your credit utilization ratio low (ideally below 30%).
- Don’t apply for too many new credit cards in a short period of time, as this can damage your credit score.
By following these tips, you can use the Destiny Mastercard to help you improve your credit score and reach your financial goals.
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