Destiny® Mastercard® from First Electronic Bank Review

Destiny® Mastercard® Credit Card Review

The Destiny® Mastercard® Credit Card is an unsecured credit card designed for people with poor to fair credit. It is also one of the few credit cards that allows you to pay the balance with Moneygram. This credit card will be appealing to those who do not have a checking account.

Destiny® Mastercard® Credit Card: Pros and Cons

The Destiny® Mastercard® Credit Card has various other costs that you may have to pay in addition to the annual fee, depending on how you use the card.

• A 1% foreign transaction fee applies to transactions outside the United States or in a foreign currency. This fee is much lower than many other credit cards have.
• Overlimit fee of up to $40: You may be able to choose overlimit coverage, which allows you to spend more than the card's $300 credit limit. However, if you opt-in and exceed the limit, you may end up paying up to $40.

On the positive side, you won't have to pay any cash advance fees during your first year with this card, which is a rare benefit if you plan to withdraw cash. After that, you'll be charged a 5% fee on the amount taken, with a $5 minimum and a $100 maximum.

Other typical costs are late and returned payment fees, which you can avoid by making at least your minimum payment on time — and which are charged by most credit cards.

Destiny rewards system in a nutshell

This is not a rewards card, which is typical for cards for fair and low credit.

Who can benefit from getting the Destiny® Mastercard® Credit Card?

Genesis Financial Solutions has a variety of credit cards available for customers with no credit or less-than-perfect credit. Usually, people with low credit apply for this card to rebuild or improve their credit history.

Are there any other benefits?

Here’s a list of some additional benefits you’ll get with this card:

• Reports to all major credit bureaus;
• It comes with a microchip that allows you to use NFC technology for your comfort and security.

Conclusion

Destiny® Mastercard® Credit Card is a good credit card for people who do not have a good credit score. This is because they just charge a fair annual fee of $59 to $99. Unlike other subprime unsecured credit cards, this one does not charge any monthly maintenance fee on top of the annual cost. The APR is typical for most subprime credit cards, and if you are approved for this card, we recommend that you pay off your balance in full each month.

Destiny offers services for people with prior bankruptcies, so you should give this card a chance if you have recently emerged from bankruptcy.

Although, keep in mind that your credit limit remains unchanged at $300, and there is no mobile app or perks such as free FICO scores. As long as you utilize this card carefully, it will be a fair choice.