MoneyGeek’s Take

Destiny® Mastercard® Review

If you have a low credit score and you’re looking to establish payment history, the Destiny® Mastercard® may be ideal for you. It provides a quick pre-qualification option, which lets you know if you are eligible for the card in under 60 seconds. The best part about this is that your pre-qualification inquiry will not affect your credit standing.

Advertising & Editorial DisclosureLast Updated: 1/20/2023
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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

This card is also ideal for those looking for their first credit card and want to build a credit history. Even those with prior bankruptcies can qualify for the card. This card reports to all three major credit bureaus, which is good if you want to establish payment history faster. You can also use this card without having to pay an upfront security deposit, unlike some other cards for people with mediocre credit.

Our review of the Destiny® Mastercard® gives you a thorough breakdown of all the benefits of this card and the various charges that come with it.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Has Rewarding Welcome Offer
  • Recommended Credit
    Poor–Fair
Click to see this card’s rates, fees and how they compare to other cards in our dataset.
OUR REVIEW AT A GLANCE

Destiny® Mastercard® at a Glance

Although the card does not require an upfront security deposit, it does charge a moderate annual fee of $59–99. The Destiny® Mastercard® comes with many designs which you can choose from at no extra cost.


  • Destiny® Mastercard®

    A solid no-frills credit card with opportunities to repair or build credit

    • Poor–FairRecommended Credit
    • $59–$99Annual Fee
    • 3# of Reporting Bureaus
    • 24.90%APR

    Terms, rates and fees apply

    Compare this credit card with other top–rated student credit cards from our partners.

Pros & Cons Explained

Although the card does not charge a security deposit, there are other fees that you must keep in mind, as they can become rather costly, depending on how you use the card. Let’s take a look at the Destiny® Mastercard®’s advantages and disadvantages.

Pros

  • Benefits
    Description
  • No upfront security deposit
    Usually, cards for those with bad to poor credit scores are secured with an upfront deposit, but this card does not charge a security deposit.
  • Quick pre-qualification
    This card does a quick pre-qualification check, which takes only 60 seconds to let you know whether you qualify for it.
  • Low minimum credit score
    You can qualify for this card with a bad to poor credit score. Even those who have declared bankruptcies in the past can qualify.
  • Reports to all three credit bureaus
    This card sends reports to all the three major credit bureaus, which helps establish a good credit score with proper card usage.

Cons

  • Drawbacks
    Description
  • Annual fee
    The card charges an annual fee of $55-99. While this is a relatively low annual fee, other entry-level cards available in the market do not charge such a fee.
  • High APR
    The card comes with a considerably high variablepurchase APR of 24.90%. This could lead to significant charges if you do not pay off your balance in full every month.
  • No rewards program
    Unlike other cards that help build credit, this card does not provide any rewards or cash back offers.
  • Foreign transaction fee
    This card charges a fee of 1% on all international transactions, which makes it less than ideal if you want to use it abroad.
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LOOKING FOR THE BEST CREDIT CARDS OF 2022?

The Destiny® Mastercard® made it on our list of the best student credit cards. You can know more about the other options by reading our full review.

Other Features Explained

You can take out cash advances using this card without having to pay any transaction fees for your first year as a cardholder, but it does come with a very high purchase APR rate of 24.90%. You must keep in mind that this could lead to substantial costs if you do not pay off the balances in full by the due date.

  • Card Feature
    Description
  • Cash advance fees
    This card does not charge you any cash advance fee for the first year. After this period, you will be charged a fee of $5 or 5% of the transaction amount, whichever is higher.
  • Credit limit
    The card offers a very low credit limit of $300. Most other credit cards have much higher limits.
  • Annual fee
    Depending on your eligibility, the Destiny® Mastercard® will either charge you an annual fee of $75 for the first year and a $99 annual fee after that.
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MONEYGEEK EXPERT TIP

Note that the Destiny® Mastercard® deducts the annual fee from your credit limit, which further restricts your spending capability. For example, if your annual fee is $75, this amount will be deducted from the $300 credit limit, which means you will be left with only a $241 spending limit in the first month.

Understanding the Fine Print

You do not need to pay an upfront security deposit to start using the Destiny® Mastercard®, but it does charge an annual fee and its purchase APR rates are very high.

  • Card Feature
    Amount or Rate
  • APR
    24.90%
  • Annual Fee
    $59–$99
  • Balance Transfer Fee
    N/A
  • Balance Transfer APR
    N/A
  • Late Fees
    $40.00
  • This is an icon

    Regular APR

    The card charges a high regular APR of 24.90% and does not provide any intro APR offer. This means the APR will start accruing interest from the date of your first transaction.

  • This is an icon

    Cash Advance APR

    The cash advance APR for this card is also 29.9%. Other cards in the same category offer a lower cash advance APR rate.

  • This is an icon

    Cash Advance Fee

    The Destiny® Mastercard® does not charge any fee for cash advances during the first year, which is an uncommon benefit. After this period, there is a charge of $5 or 5%, whichever is higher (up to a limit of $100). Note that although there is no cash advance fee, you will still be charged a significantly high APR of 29.9%, which will accrue interest from the date of the transaction.

  • This is an icon

    Late Fees

    The card charges a fee of $40 for any late payments. This is in addition to the APR charges that accrue on the total outstanding amount. Missing payments may also impact your credit score.

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FINDING YOUR CARD'S RATES AND FEES

You can compare this card with other cards for students or those with lower credit scores. You must keep in mind the charges that the cards levy, such as the APR and annual fees. You can find this information on the card provider’s website, in your last bill statement or on the credit card agreement database provided by the Consumer Financial Protection Bureau.

Who Should & Shouldn’t Consider Destiny® Mastercard®?

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Other Considerations for Destiny® Mastercard®

It is important to consider whether this will be your only card or whether you are going to use it with other cards, as its pros and cons may vary depending on your use case.

Things to Consider if This Will Be Your First or Only Credit Card

If you are going to use the Destiny® Mastercard® as your first or only card, you must keep in mind the limited credit that it offers. With a limit of only $300, this card could be unfit to meet all your spending requirements.

This card does give you the option of over-limit coverage that lets you spend more than the card's $300 credit limit. This is not advisable as you could be charged up to $40 in over-limit fees and doing so may increase your credit utilization ratio and in turn hurt your credit score.

Things to Consider if This Will Be an Additional Card in Your Wallet

If the Destiny® Mastercard® is going to be used in combination with other cards, you must keep in mind the credit limit and the foreign transaction fee.

If you have another card with a higher credit limit that does not charge an international transaction fee, then this could be a good choice as a supplemental card. Not utilizing the entire limit on the Destiny® Mastercard® can also help boost your credit score.

If another card that you own offers rewards points and cash back, then you could use this card to improve your credit while at the same time earning benefits using the other card.

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WHY TRUST OUR REVIEWS

Our transparent and comprehensive approach for reviewing credit cards considers important aspects that could impact your finances. Our in-depth process assesses all the necessary information which includes compiling reports from the Consumer Finance Protection Bureau’s database.

How Destiny® Mastercard® Compares to Other Cards

Although the Destiny® Mastercard® could be a good option for those looking to establish their credit, there are better options available in the market. We compared this card to others in the same category on some important aspects.

Quick Comparison of Destiny® Mastercard®
creditCard

Destiny® Mastercard®

  • Annual fee: $55–99
  • Recommended credit score: Bad to poor
  • Intro APR offer: No
  • Cash back rewards: No
  • Mini verdict: Best for those who want to build credit without a security deposit
creditCard1

Discover it® Secured Credit Card

  • Annual fee: $0 (requires a minimum $200 deposit)
  • Recommended credit score: Poor
  • Intro APR offer: 10.99% intro APR on balance transfers for 6 months
  • Cash back rewards: 2% cash back (select categories). 1% cash back on all other purchases
  • Mini verdict: Best for those with poor credit who want to improve their standing and earn rewards

Other Helpful Decision-Making Q&As

If your credit score is not great and you are committed to improving it, there are many good options available in the market. Knowing what other users look for before making a decision can help you too.

Still not sure about this card? Consider these options.

If you’ve not yet made up your mind about which card is best suited for you, you can take a look at our list of the best student cards. If you are looking for other options, you can also check some of the best cards for bad credit or a secured card with benefits.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more aboutour editorial policies andexpert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.