By Marcy Bialeschki


5 Min. To Read

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Maybe you think your poor credit status or a bankruptcy crushes any hopes of getting an unsecured credit card. When hard times fall, most people think it can be nearly impossible to turn things around.

The Destiny MasterCard has your best interest in mind when your credit goes up in flames. MasterCard knows everyone deserves a second chance, and the Destiny unsecured credit card has real potential when it comes to getting your credit back on track.

Destiny MasterCard is available to people with all kinds of poor credit histories, even bankruptcy. While not everyone will qualify, your chances are relatively high.

On the Destiny MasterCard website, you can find a Pre-Qualification Process, which only takes a few minutes. Completing this process confirms if you qualify for the card and which offers are open to you. Even better, the Pre-qualification Process is a soft-pull on your credit, so it does not affect your credit score. However, if you qualify for the Destiny MasterCard, a hard-pull will be issued. A few months of responsible use can quickly rectify any damage your credit sustained from the hard-pull.

The Destiny MasterCard is also an unsecured credit card, meaning you do not have to put down a security deposit. The credit limit for the Destiny MasterCard is set at $300. Not being able to increase the credit limit is one negative of this card. Or, maybe some people see it as a positive. Having a little extra spending power is handy for everyone. Keeping the amount low ensures your ability to pay the balance every month. Not carrying a balance is one way to start rebuilding your credit, which is the Destiny MasterCard's purpose.

Another refreshing aspect of the Destiny MasterCard is a low annual fee compared to most cards in the same category. Better yet, this card is not riddled with extra fees that bog down your financial progress. The following list of features is quite impressive for a credit building card.

$59 - $99 annual fee (based on credit review). This fee is deducted on your first billing statement, making your actual spending-power less than $300 that first month and the first month of every billing year.

$0 maintenance fee

$0 application fee

24.9% APR: This is a high APR, but that is expected with a credit building card. This amount is another reason not to carry a balance.

1% Foreign Transaction Fee: A 1% foreign transaction fee is quite reasonable, considering many cards have a 3% charge.

29.9% Penalty APR: Ouch! Make sure you play by their rules.

Late Payment Fee: The late payment fee can be up to $40, which is standard on most cards

The Destiny MasterCard can also provide cash advances for a fee. Be sure to read your user agreement information when you receive your card for the details. Cash advances require approval. Once you are approved, you can call and request a PIN# that allows secure withdraws from ATM’s.

One significant advantage the Destiny MasterCard has when it comes to credit rebuilding is that it reports to all three national credit bureaus. Therefore, with responsible use, your credit score can potentially increase every month.

Responsible use entails following a couple of general rules:

Do not carry a balance.

Pay your balance on time every month.

The best candidates for this card are people who have suffered bankruptcy or who have poor credit. But having these characteristics does not automatically mean you will receive a card. Qualification is dependent on a few factors, so make sure these apply to you before applying for the card:

18 years of age (19 in Alabama)

Valid Social Security Number

Valid address

US IP address

Have not had a previous delinquent Destiny MasterCard account

If you can check-off all of the above, and you have passed the Pre-qualification Process, go ahead and apply for the card. Your income review, debt reviews, and id verification will be the last steps that occur after you apply. You may be skeptical of your chances if you have had some hard times financially; however, all credit histories will be considered, even bankruptcy.

Protection Features

When looking for the right credit card, most people value superior protection options and choose a card that makes them feel secure about their purchases and account. The Destiny MasterCard has the same great protection features as any other MasterCard.

If unusual activity is discovered on your Destiny MasterCard, the 24-hour fraud protection provided sends you alerts.

The Destiny MasterCard has Purchase Protection, providing the cardholder with $0 liability on unauthorized charges.

If your card is lost or stolen, MasterCard will replace it, usually within 24 hours.

Destiny MasterCard customers can feel confident with access to a customer service representative 24 hours a day, 7 days a week.

MasterCard realizes that identity theft can happen to anyone, and it is devastating. Should you incur the difficulties and stresses of identity theft, MasterCard will help you solve the matter and get your life back.

Some of the Competition

No doubt, the Destiny MasterCard is a good choice for a credit building card, but it's not the only game in town. Let's take a look at some similar cards you might want to check out before committing to the Destiny MasterCard.

Credit One Visa:

You might get lucky enough to have a lower annual fee with the Credit One Visa. Its yearly fee range is $0 - $99.

No sign-up or monthly payment: This feature is the same as Destiny MasterCard.

19.49% - 25.49% APR: With the Destiny MasterCard at a fixed 24.49%, you have an excellent chance of receiving a lower APR with the Credit One Visa card. Remember, however, the APR should be a non-issue because the purpose of this card does not lend itself to carrying a balance.

$300 credit limit with the potential to increase: Destiny MasterCard has a fixed $300 limit.

Mobile app for convenient access anytime, anywhere: The Destiny MasterCard does not have a mobile app.

Credit One American Express:

Annual fee $39 which is lower than you will receive from Destiny MasterCard and potentially lower than what you will receive from Credit One Visa.

No sign-up or monthly fee: This feature is the same as both other cards.

25.49% fixed APR: This is the highest APR of the three cards.

$500 starting credit limit: The Destiny card has a $300 limit with no chance to increase, and the Credit One Visa has a starting $300 credit limit. The Credit One American Express is the winner in this category.

Here’s What You Should Like

No sign-up or monthly fee

All credit levels considered

Unsecured card

Pre-approval is a soft-pull on your credit

Online account management including bill paying

All the security features of any other MasterCard

Here’s What You Probably Don’t Love

No rewards

A set $300 credit limit that will not increase

No mobile app

No free credit scores

High APR and penalty fees

No doubt, the Destiny MasterCard is a contender in the credit building arena. The lack of a security deposit and other extra fees is a huge plus for this card. If you are serious about pulling your credit out of the fire, go through the Pre-qualification Process on the Destiny MasterCard website. It will not hurt your credit score to pre-qualify. If you receive a Destiny MasterCard, a few months of responsible use can have your credit on the road to recovery.

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