The Destiny Mastercard® – $700 Credit Limit is a good option for people with poor or fair credit who are looking for an unsecured credit card with no security deposit. The card has a modest credit limit of $700, but it can be a good way to start building your credit history.
What is it?
The Destiny Mastercard® – $700 Credit Limit is a good option for people with poor or fair credit who are looking for an unsecured credit card with no security deposit. The card has a modest credit limit of $700, but it can be a good way to start building your credit history.
The Pros and Cons of Destiny Mastercard
There are several pros and cons to consider before signing up for a Destiny Mastercard.
- No security deposit required. This is a major perk for people with poor or fair credit, as many cards in this category require a deposit.
- Moderate credit limit. The $700 credit limit is a good starting point for people with limited credit history. It’s enough to make small purchases and build your credit, but not so much that you’re likely to overspend.
- No annual fee in the second year. This is a nice perk, as many cards in this category charge an annual fee each year.
- High APR, the APR is 35.90%, which is high compared to other cards in this category. However, if you pay your balance in full each month, the APR won’t matter.
- High fees, The card has an annual fee of $175 in the first year, and a monthly fee of $12.50 after the first year. These fees can add up, so it’s important to factor them into your budget before applying for the card.
- No rewards, The card doesn’t offer any rewards, such as cash back or points. However, this is not a major con for people who are primarily interested in building their credit history.
Additional Tips
- Pay your balance in full each month: This is the best way to avoid paying interest charges.
- Use the card responsibly: Only charge what you can afford to pay off each month.
- Track your spending: Keep track of your spending so you don’t overspend.
- Build your credit history: Use the card regularly and make your payments on time.
If you follow these tips, you can use the Destiny Mastercard® – $700 Credit Limit to build your credit history and improve your financial situation.
Conclusion
Overall, the Destiny Mastercard® – $700 Credit Limit is a good option for people with poor or fair credit who are looking for an unsecured credit card with no security deposit. The card has a few drawbacks, such as the high APR and fees, but it can be a good way to start building your credit history.
