The Destiny credit card is a payment method designed especially with your financial growth in mind. With it, you can shop wherever you want while securely building your credit.
With easy approval, even for those with a complicated credit history, it becomes an accessible and practical tool for anyone looking to take advantage of a straightforward and hassle-free card.
Explore here how this card can transform your financial life, providing the flexibility you need while working on rebuilding your credit. Continue reading and learn all about this alternative credit option!
About the Issuer
The Destiny credit card is issued by First Electronic Bank, a financial institution that specializes in offering credit products to consumers with challenging credit histories.
First Electronic Bank is known for its inclusive approach, providing access to credit for those who face difficulties getting approved through traditional banks.
With a strong emphasis on security and customer service, the bank ensures that Destiny cardholders have the necessary support on their credit rebuilding journey.
Additionally, First Electronic Bank has a solid track record of helping consumers improve their credit scores over time by offering products that consistently report to the major credit bureaus.
Benefits
No Security Deposit: One of the biggest attractions of the Destiny card is the absence of a security deposit requirement, something typically required for cards aimed at consumers with low or bad credit. This makes the card more accessible to those starting to rebuild their credit without needing to shell out a significant amount of money as collateral.
Easy Approval: The Destiny Mastercard offers a high likelihood of approval, even for those with a complicated credit history, including previous bankruptcies. This means that if you’ve had difficulties in the past and are struggling to find a credit card, Destiny may be a viable option.
Reports to the Three Major Credit Bureaus: An essential feature of the Destiny card is that it reports your payment history to the three major credit bureaus in the U.S.: Equifax, Experian, and TransUnion. This continuous reporting helps in building or rebuilding your credit history as long as you keep your payments up to date.
Fraud Protection: The Destiny credit card comes with zero liability fraud protection, a crucial feature for any credit cardholder. This means that if your card is used for unauthorized purchases, you will not be held responsible for those charges. This benefit provides extra peace of mind, knowing your finances are protected against fraudulent activities.
24/7 Online Access: Another significant benefit is 24/7 online access to your account. This allows you to track your spending, check available balances, make payments, and manage your account conveniently, anytime and anywhere.
Usage Flexibility: As a Mastercard, Destiny is accepted at millions of establishments around the world, offering flexibility to make purchases almost anywhere. This is particularly useful for those needing a credit card for daily use, travel, or online shopping.
Destiny Credit Card – Fees and commissions
The Destiny credit card charges an annual fee of $175 for the first year and $49 in subsequent years. The card’s Annual Percentage Rate (APR) is relatively high (35.9%), which is common for cards aimed at people with imperfect credit.
It’s important to note that these details may be updated, so it’s crucial to review the terms and conditions on the official Destiny card website before applying.
Card limit
The initial credit limit for the Destiny card is up to $700. As the cardholder demonstrates good payment behavior, there may be opportunities for a limit increase, depending on the issuer’s policy.
However, it’s important to remember that the Destiny card is more focused on credit rebuilding than offering a high credit limit.
Positive points
- Easy Approval:High chances of approval, even for those with bad credit.
- No Deposit:No security deposit is required, making access easier.
- Credit Reporting:Payments reported to the major bureaus help improve credit scores.
Negative points
- High Fees:The annual and monthly fees are relatively high, especially in the first year.
- No Rewards:The card does not offer a rewards program, limiting additional benefits.
- Low Initial Limit:The initial credit limit is relatively low, especially after deducting fees.
How to apply for Destiny Credit Card
To apply for the Destiny credit card, follow these steps:
- Visit the official Destiny card website;
- Select the “Apply today” option;
- Fill out the application form with your personal and financial information;
- Review the terms and conditions before submitting your application;
- Submit the application and wait for the issuer’s response;
- If approved, receive your card in the mail within a few days.
How to contact First Electronic Bank
If you need assistance, you can contact the issuer through the following means:
- FAX: 1 503 268 4711
- Phone: 1 800 583 5698
The Destiny credit card offers a valuable opportunity to rebuild your credit. If you’re ready to take control of your financial future, apply now!
