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NoCredit / Bad Credit
The Destiny™ Mastercard® offers those with less imperfect credit to rebuild their credit . While the card does not offer any benefits or rewards, it can help you access a small line of credit, which is typically $500.
Although this may seem like a small amount, this is an unsecured card that can help you to build a positive credit history. Your card activity is reported to the three major credit bureaus. So, you can enjoy the convenience of having a credit card and establish a consistent record of payments.
This makes the Destiny Mastercard an ideal option for those who need to build their credit. All credit histories are considered, and you may even qualify if you’ve had a prior bankruptcy.
While the credit criteria for the card is designed to help the credit challenged, there are no guarantees for approval. The card issuer, Genesis Financial Solutions also allows applicants to prequalify for the card. This means that you won’t damage your credit further by applying and being rejected if you don’t qualify.
- Higher Credit Limit
- Less Than Perfect Credit
- No Security Deposit Required
- 24/7 Account Access
- Fraud Protection
- Multiple Fees
- Low Credit Limit
- No Guarantees for Approval
- High Interest Rate
- No Rewards
In this Review
As with any financial product, there are both potential positives and negatives associated with this card. It is important to be aware of both before applying to ensure it is the right choice for your specific circumstances.
As of March 2022, Destiny offer greater access to credit than before, $500 instead of $300.
Many cards are only available to those with a high credit score, but the Destiny Mastercard is designed to assist those who have had credit issues in their past.
You may even qualify if you’ve had prior bankruptcy.
While the Destiny Mastercard is only offered with a small credit limit, there is no need to provide a security deposit.
This makes it a great option for those who need a credit card, but lack the funds to provide a security deposit.
You can manage your account with the online secure website. This allows you to enjoy 24/7 access to your card account even on your mobile device.
The Destiny Mastercard is provided with a number of security protections. This includes ID Theft Protection that alerts you if your email address, cards, bank accounts or social security number is used. There is also Zero Liability Protection, so you can have the reassurance that you won’t be responsible for unauthorized transactions.
In addition to the annual fee, there are a number of fees that you can incur for normal use.
For example, there is a $79 processing fee when you open your account, a $7.25 monthly fee, which is applied after your first year. You can also incur a $55 reinstatement fee and there is a $25 replacement/additional card fee.
This card is only offered with a small credit limit and there are typically no increases, even with frequent on time payments.
The Destiny Mastercard is designed to help you establish good credit, but there is no automatic upgrade. You would need to apply for another card once you have increased your credit score.
Although the Destiny Mastercard is marketed as a flexible card for practically anyone, there are no guarantees for approval. The issuer will evaluate many aspects of your credit history to determine if you qualify.
Since the Destiny Mastercard is designed for those with a good to poor credit score, the interest rate reflects the risk to the lender. This means that you can expect to pay a high interest rate unless you pay off the balance in full each month.
Unfortunately, the card does not offer any rewards. So, in addition to paying an annual fee, there is no cashback, points or other rewards.
How To Apply For Destiny MasterCredit Card?
You can start the application process on the Destiny Card website. You’ll have two options to get started; whether you want to pre qualify or if you’ve received a mail offer.
If you select Pre Qualified, you’ll then be directed to an online form.
You’ll need to provide your name, address, email, phone number, date of birth and social security number.
Once you have filled in the required fields, you will need to click “Pre Qualify Now”. Genesis Financial Solutions will use these basic details to assess your suitability for the card and, where applicable, determine the annual fee you would qualify for.
The company does state that if it is unable to issue a Destiny Mastercard to you, it may offer prequalification for a card issued by another bank. You can expect to receive the decision within seconds.
Alternatively, if you received a mail offer, there is the option to enter your application code and zip code to sign up.
This will fast track you through the application process.
After you have pre approval, you can review all the terms and conditions and proceed with a full application.
Once you have your approval confirmed and you receive your card, you can then visit the website and create your login and password to manage your account online.
Is the Destiny Mastercard Card Right for You?
If you have fair or bad credit and are looking for an unsecured credit card, it is worth checking if you can obtain pre approval for the Destiny Mastercard. Many subprime credit cards charge an annual fee, but the fee for this card is quite reasonable and determined by your specific circumstances.
Pre approval only requires a soft pull credit check, so it will not impact your credit score. There is only a hard pull if you decide you would like to proceed with the application. So, there really is nothing to lose.
While the APR is high, it is quite typical of a subprime credit card. Of course, if you have good credit, you will be able to qualify for a card with a better rate and card benefits. However, if you’re looking to rebuild your credit, this card does report your activity to all the major credit bureaus and could help you establish a higher credit score for the future.
Compare The Alternatives
There are more cards to build credit with – here are some good alternatives to the Destiny card:
Capital One Secured
Discover It Secured
1-2% 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
Match Bonus Discover automatically matches the cash back you've earned at the end of your first year, no limits
Foreign Transaction Fee