Destiny Mastercard® Credit Card
An unsecured credit card designed for people with less-than-perfect credit, offering a chance to rebuild credit without a security deposit.
Card Details
- Card Type: Unsecured credit-building card (no deposit required)
- Welcome Bonus: None
- Rewards: None – no cash back, points, or perks
- Annual Fee: $175 1st Year, $49 from 2nd year and afterwards.
- Monthly Fee: $0 for first 12 months; $12.50/month after year one ($150/year)
- Foreign Transaction Fee: 1%
- Bank Issuer: The Bank of Missouri, serviced by Concora Credit Inc.
- Card Network: Mastercard®
- Credit Reporting: Reports monthly to all 3 major credit bureaus
About The Card
The Destiny Mastercard® is built for people with poor or limited credit history who need a second chance to prove positive payment behavior. Unlike secured cards, no security deposit is required – you’re approved for a set credit line based on eligibility. Destiny is accessible to those who may not qualify elsewhere, even if they have prior credit challenges like bankruptcy.
Approval starts with an online pre-qualification that doesn’t affect your credit score, making it easy to check your chances. Once approved, you’ll receive a modest credit line that does not increase over time. Fees are assessed immediately, which reduces your available spending power. The card does not earn rewards, so its main purpose is credit rebuilding. Destiny reports to all three bureaus, so consistent on-time payments can help strengthen your credit history over time.
Pros
- No Security Deposit Required: Get an unsecured credit line without tying up savings.
- Accessible for Bad Credit: Designed for people rebuilding credit; approval possible even with prior issues.
- Builds Credit History: Reports monthly to all three major credit bureaus.
- Immediate Use & Account Access: Option to add to a mobile wallet for instant use once approved.
- Standard Mastercard Benefits: You get Zero fraud liability and Mastercard is has broad acceptance almost everywhere, unlike other credit card processors.
Cons
- High Fees: You need to pay upfront a heavy annual fee and ongoing monthly fees. That makes this card whether you use it or not.
- Very High APR: Carrying a balance for even one month is expensive; it is only worth it if you can pay in full each month.
- No Rewards: No cash back, points, or perks – the card is strictly for credit building.
- Low Fixed Credit Limit: Credit line is usually up to $700 and doesn’t grow over time.
- No Upgrade Path: The card won’t transition to a better product, so you’ll eventually need a replacement card.
- Fees Reduce Available Credit: The first year’s fee cuts into your limit right away.
Is this card for me?
The Destiny Mastercard® is best suited for someone rebuilding credit who cannot qualify for or afford a secured card. It offers a way to establish payment history without a deposit, but at a significant cost. If you have alternatives with lower fees or rewards, those may be more valuable long-term. Destiny works best as a short-term tool to rebuild credit before moving on to a card with fewer fees and stronger benefits.
