- Accepted nationwide, wherever Mastercard is accepted
- Simple and fast application process
- Less than perfect credit is okay
- An opportunity to build and access credit
- Regular Purchase APR: 24.9%
- Cash Advance APR: 29.9%
- Cash Advance Transaction Fee: $0 during the first year. After that, either $5 or 5% of the amount of each cash advance, whichever is greater (max $100)
- Penalty APR: 29.9%
- Annual Fee: Up to $99
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- Over Limit Penalty Fee: Up to $40
At a Glance
The Destiny Mastercard is an ideal credit card for those with bad or fair credit who want the purchasing power of Mastercard but without the security deposit requirement of a secured credit card. With a modest annual fee and manageable initial credit limit, the Destiny Card doesn’t care about your credit past – instead, it helps you focus on your credit repair journey.
Ideal for Those Who:
- Have a troubled credit history, including a past bankruptcy
- Have less than perfect credit
- Want a Mastercard but don’t want to pay a security deposit
- Want a credit card with the versatility to make foreign purchases
- Plan to pay their statement in full every month
Destiny Mastercard Review
The Destiny Mastercard is a credit repair and credit builder card designed for those with either bad credit or a fair credit score. Genesis Financial Card Services, the card’s issuer, is a specialist in the subprime credit marketplace, and this shows in every regard with the Destiny credit card.
A Competitive Card in a Crowded Marketplace
Not only is the Destiny Mastercard able to hold its own in an already busy marketplace, but the card outperforms many challengers with a lower APR and modest annual fee.
The Destiny Mastercard features fixed purchase APR. Because it is not variable with the Prime Rate, applicants don’t have to worry about the interest rate going higher than it already is. The Mercury Mastercard, another popular option in the credit repair space, has an APR that starts higher up on purchases. And because it’s variable, many applicants could receive the high end of the spectrum. This means that even with damaged credit, Destiny offers an interest rate that’s always lower than that of the Mercury Card.
A Modest Annual Fee
Like other subprime, unsecured credit cards, the Destiny Mastercard features an annual fee. This fee is modest when compared to other available offers. Some unsecured credit cards for bad credit – especially catalog cards for use with online shopping portals – have steep annual fees of over $100 per year.
In comparison, Destiny’s yearly charge is not only reasonable – but very competitive. This charge is made even better by the fact that the Destiny Card has no application fees, no monthly maintenance fees, and no initial setup fees.
Initial Credit Limit for the Destiny Mastercard
When approved for the Destiny Mastercard, you’ll receive an instant credit line of $300. It’s important to note, however, that your initial credit line will not be $300, as the annual fee must be automatically paid when the card is issued. Once you pay off that charge, you’ll have access to the full $300 line of credit.
Designed for Repairing Damaged Credit
The Destiny Card is a tool for repairing your credit. As such, the card regularly reports to all the major credit bureaus: Experian, Equifax, and TransUnion. If you pay your bills on time and keep your credit use (also known as credit utilization) low, you’ll watch your credit score rise in no time.
All the Benefits of a Mastercard Credit Card
While the Destiny Mastercard is all about repairing your credit, the card is still a fully-fledged Mastercard credit card. That means the card enjoys the worldwide acceptance of the Mastercard payment network – accepted in 212 countries worldwide.
And when you use your Destiny Mastercard abroad, you’ll enjoy a very modest foreign transaction fee. Most subprime credit cards have a foreign transaction fee of 3% of the cost of the transaction in U.S. dollars. Destiny, on the other hand, has a very reasonable foreign transaction fee of 1%, making it the ideal tool for purchases – both at home and abroad.
Since Destiny is a full Mastercard product, you’ll also enjoy a suite of Mastercard purchase protections and security features. These features include:
- Zero Fraud Liability: Cardholders pay nothing if their card is subject to unauthorized use or theft.
- Mastercard Global Service: Emergency assistance nearly anywhere in the world, 24/7. Services include lost card reporting and replacement, emergency cash disbursement, and more.
- ID Theft Protection: Complimentary credit report monitoring that alerts cardholders to any changes or fraud concerns.
Should You Apply for the Destiny Mastercard?
Overall, there isn’t a lot to dislike about the Destiny Mastercard. The card compares favorably to both the Indigo Platinum Mastercard and the Milestone Gold Mastercard – two other quality credit repair credit cards from Genesis Financial Card Services. And since those cards are always two of the most popular unsecured credit cards for bad credit, the Destiny is in great company.
Repairing your credit takes patience, persistence, and the right tools. While Destiny can’t force you to spend responsibly, it provides you with the right tools for the job of boosting your credit score. If you use your card to make small purchases, keep your credit utilization low, and pay your bill in full and on time each month, the Destiny Mastercard will do the rest.