Total Visa® Card Credit Card Review

Total Visa® Credit Card Review

Total Visa® Credit Card is an option for people looking to rebuild their credit. Those who want to begin building their credit score but don’t know where to start may also consider this credit card, as Total Visa® does not require good credit for approval.

Total Visa® is issued by The Bank of Missouri. This unsecured credit card comes with an initial credit limit of $300. The limit has the potential to increase after at least 12 billing cycles (about 12 months).

The card is accepted everywhere Visa is accepted and is a good option for cardholders interested in building up or repairing their credit. Besides, Total Visa® provides access to $0 fraud liability coverage and free access to monthly credit scores powered by TransUnion®.

The biggest downside of the card is complex and hefty fees which will be explained further.

Total Visa®: Pros and Cons

Rewards System

The Total Visa® Card earns 1% Cash Back. Cardholders don't get perks such as travel and emergency insurance or reimbursement for missing luggage.

Total Visa® credit card fees explained

One of the most significant drawbacks of the Total Visa® credit card is its fees system. Let's dig into what Total Visa® cardholders have to pay.

1. Program Fee. It is a one-time fee of $95. Program fee must be paid before the account opening, which means applicants will not be able to use their cards until they pay $95. The application gets withdrawn if the payment is not made within 60 days.
2. Annual Fee. The Total Visa® cardholders are charged an annual fee. In the first year, the fee is $75.00 for the 1st year, $48.00 after; it drops to $75 afterward.
3. Monthly Servicing Fee. Total Visa® cardholders must pay $8.25 each month ($99 per year). This fee is not charged in the first year.
4. Cash Advance Fee. There is no cash advance fee in the first year, but afterward, cardholders are to pay either $10.00 or 3% of the amount of each cash advance, whichever is greater.
5. Penalty Fees. Common credit card fees such as returned payment and late payment can be charged, $41 each.
6. Additional Card Fee. Each additional card linked to the account will impose a charge of $29 a year.
7. Credit Limit Increase Fee. Any credit limit increase is charged with a 20% fee of the increased amount. For example, if a credit limit is increased by $100, the cardholder will be charged $20.

Who can benefit from getting the Total Visa® credit card?

Total Visa® is a credit card for personal use, especially for people who don’t travel outside the U.S. and have poor or no credit. It’s also an okay option for people who would want to rebuild their credit as Total Visa® has few requirements for application and a typical credit limit.

Are there any other benefits?

• Online account management

Total Visa® allows cardholders to access their online management system where they can:

1. Review statements
2. Make payments
3. View payment history
4. View recent transactions
5. View your balance and other important Total Visa® credit information.

• $0 Fraud Liability

The $0 fraud liability gives you ownership over your card and all purchases made. It gives you the confidence to go about your business knowing your card activity is fully protected.

• Mobile App

Total Visa® has a mobile app where cardholders can manage their account anytime from the comfort of their mobile device. It is available on Google Playstore and App Store. The Mobile App allows its users to:

1. Make payments
2. View transactions & statements
3. Check available credit
4. Check your score with free Credit Monitoring powered by TransUnion.

• Free Monthly Credit Score Access

Cardholders can access their monthly credit score powered by TransUnion for free.

Conclusion

With the Total Visa® credit card, The Bank of Missouri offers almost everything for people with poor or no credit: easy application, fast decision, low requirements for applicants (hence high approval odds), reporting to three credit bureaus, free credit check, credit limit increase after 12 months, and even cash advances with no fee in the first year. However, the downside of this credit card is its high fees and high APR.

The high price of the card especially stands out from competitors and the market. The 35.99% Total Visa®’s APR is 8.3% higher than the average credit card interest rate for bad credit (26.7%). You can account for the same perks and benefits for a lower price with such cards as The Mission Lane Visa®, Double Your Line® Mastercard® by Merrick Bank.

Also, it’s worth mentioning that you can’t use Total Visa® outside the U.S. or make any transactions in a foreign currency.

To sum up, the Total Visa® credit card is worth applying for if you want to build or rebuild your credit, but first, check other credit cards offering the same perks and benefits at a lower cost.

Total Visa® Card is an option for those, who need Classic features. With an APR of 35.99% and $75.00 for the 1st year, $48.00 after annual fee this credit card can easily cover your simple everyday demands. For high approval odds you need to have Rebuilding Credit to Fair (0-669) credit score. With Total Visa® Card you will get such features as Payment Flexibility, Fraud Protection, Free Credit Score, etc. To make sure about either this credit card is good for you or not compare it with other cards with similar features.