The Destiny credit card is an amazing option for anyone who wants a practical, efficient payment method with easy approval. Issued on the Mastercard network, you can use it at millions of establishments.
This card is offered with the goal of simplifying the credit access process for people with low to medium scores, without requiring a security deposit or significant bureaucracy for approval.
Next, let’s explore the details and benefits of this card to help you decide if it’s the ideal choice for your financial needs. Ready to understand everything about it and how it can contribute to your financial planning? Keep reading and find out!
About the Issuer
The Destiny credit card is issued by First Electronic Bank, a financial institution known for its dedication to offering accessible and innovative products to consumers.
The bank focuses on serving customers with different credit profiles, including those trying to rebuild their finances or who have limited credit histories. Since its founding, First Electronic Bank has sought to create solutions that help users achieve their financial goals.
First Electronic Bank is known for its technology-driven approach, facilitating customer account access and management through intuitive digital platforms. This modernization of banking services is one of the reasons why the Destiny credit card becomes an attractive option for many.
Benefits of the Destiny Mastercard
Approval for Limited Credit: One of the most important advantages of the Destiny Mastercard is the possibility of approval for those with lower credit scores or limited credit history, making it a viable option for establishing or rebuilding credit.
Credit Limit Increase: After six months of responsible card use, holders may be eligible for a credit limit increase, which is especially useful for those looking to strengthen their credit with a higher limit through on-time payments and low balances.
Fraud Protection and Zero Liability: The card includes purchase security with fraud protection and zero liability in case of unauthorized transactions, adding a layer of security for the user.
Online Account Management: Holders can track and manage their accounts online, making it easier to monitor spending and payments in real time.
No Security Deposit Required: The Destiny credit card allows access to credit without the need for a security deposit, making it more accessible for individuals who may not have significant savings.
Pre-Qualification Without Impacting Credit Score: Potential applicants can undergo a pre-qualification process that does not affect their credit score, allowing them to gauge their approval chances without any risk.
Identity Theft Protection: The card provides additional protection against identity theft, helping users feel secure in their financial transactions.
Wide Acceptance: As a Mastercard, it is accepted at millions of locations worldwide, providing flexibility for both local and international purchases.
User-Friendly Customer Support: The card issuer offers accessible customer support, ensuring users can easily resolve any issues or questions they may have.
Regular Reporting to Credit Bureaus: The Destiny credit card reports to the major credit bureaus, which can help users build their credit history when used responsibly.
Fees and Charges of the Destiny Card
The Destiny Mastercard has an annual fee of $175 in the first year, reducing to $49 from the second year. Additionally, the monthly fee is waived in the first year and then becomes $12.50 thereafter.
The APR (annual percentage rate) of the card is 35.9%, considered high, making it advisable to pay off monthly bills in full to avoid accumulating significant interest.
It’s important to remember that fees may be adjusted without prior notice, so it’s crucial to review the information regularly.
Credit Limit
The Destiny card offers an initial credit limit of up to $700. This amount is suitable for those seeking a moderate limit that can help control spending and avoid excessive debt.
However, the limit may vary depending on the applicant’s credit profile, and approval depends on the issuer’s evaluation.
Positive points
- Accessibility:Suitable for those with low credit.
- No Deposit:Does not require an initial deposit.
- Credit Reporting:Reports to major credit bureaus.
Negative points
- High Fees:Has elevated annual fees.
- High Interest:APR of 35.9%.
- No Rewards:Does not offer a points program.
How to Apply for the Destiny Credit Card
To apply for the Destiny credit card, follow these steps:
- Visit the official card website;
- Click on “Apply Today” to start the application;
- Enter the requested personal information;
- Review and submit your application;
- Wait for the credit analysis response. If approved, the card will be sent to your address.
How to Contact First Electronic Bank
For contact with Destiny support:
- Website: Visit the official card website
- Phone: 1-800-583-5698
- FAX: 1-503-268-4711
Finally, if the Destiny Mastercard meets your needs and you’re looking to build your credit in an accessible way, consider this option as a way to achieve your financial stability.
