The Bank of Missouri is an FDIC-insured bank. Generally, they accept those with poor to fair credit scores and offer personal credit cards, both secured and unsecured. They also issue personal credit cards through Aspire, Continental Finance, SoFi and Fortiva.
The Bank of Missouri Credit Card Reviews, Rules & Opinions
The Bank of Missouri offers credit cards designed to help consumers with their finances. MoneyGeek listed the types of The Bank of Missouri cards and other factors so you can determine if this bank fits your needs.
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Featured Credit Cards Offered by The Bank of Missouri
The Bank of Missouri offers financial products, including five personal credit cards that MoneyGeek evaluated for individuals with poor credit to rebuild their credit history. Their cards provide $0 liability for unauthorized use. They also issue credit cards through Continental Finance, SoFi and Fortiva to help individuals rebuild their credit history and via Aspire so cardholders can earn cash back.
Credit Card | About | APR | Annual Fee | Recommended Credit |
---|---|---|---|---|
An unsecured credit card meant for those who wish to rebuild their credit | 35.90% Fixed | $99 introductory fee for the first year, then $125 thereafter | (No Credit History) On Issuer's Site | |
Good choice for rebuilding your credit without paying a security deposit. | See terms* | See terms* | 300 – 670 (Bad to Fair) On Issuer's Site | |
An unsecured credit card for people with poor or average credit (with big fees) | 35.99% | $75.00 for first year. After that, $48.00 annually. See terms for additional fees. | None–Fair On Issuer's Site |
Other Cards Issued by The Bank of Missouri
Outside of the featured cards listed above, The Bank of Missouri issues other credit cards, including the following:
- Verve Mastercard Credit Card: Best for those with low credit scores who want to work towards increasing their credit limit.
- SoFi Credit Card: Best for individuals who want to cash in into cryptocurrency and get rewards with partner brands like DoorDash and Lyft.
- Fortiva Mastercard Credit Card: Best for those who are looking to build credit through daily or unexpected expenses.
- Aspire Mastercard Cash Back Reward Card: Best for individuals looking to earn rewards and cash back for eligible purchases with an unsecured card.
The Best The Bank of Missouri Credit Cards in 2024
MoneyGeek lists the best The Bank of Missouri credit cards per month. This list may change based on welcome bonuses, reward categories and other criteria.
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The First Access Solid Black Visa® Credit Card might work well for people who have poor credit and want to improve their creditworthiness. This card reports your payment history to the top three credit bureaus. While this card comes with a Visa affiliation, you cannot use it outside of the U.S.
Getting this card requires that you pay a one-time program fee of $95. The initial credit limit of this card is $300, although your initial available credit is $225. This is because the card applies your first year’s $75 annual fee in advance. The annual fee from the second year is $48. You also need to pay a monthly fee of $8.25 from the second year, which is billed annually. While you may increase your credit limit after 12 months, each increase requires that you pay 20% of the increased limit as fee.
Given this card’s reasonably high fees, you may consider using it until you see an improvement in your credit score. You might then qualify for an unsecured card or a secured card with lower fees.
- PROS
- Can qualify with average or poor credit
- Reports to Experian, TransUnion and Equifax
- Multiple card images from which to choose
CONS- Need checking account to apply
- High APR
- Program fees
- Annual fees
- Monthly fees from the second year
- Additional card fees
- Available for people with poor credit
- Reports to the top three credit bureaus
- $95 one-time program fee
- $75 annual fee for the first year, $48 thereafter
- $8.25 monthly fee from the second year (billed annually at $99)
- $29 additional card fee (billed annually)
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Total Visa® Card might work well for people who have poor or average creditworthiness and don’t want to pay security deposits to get secured credit cards. You may apply for this card as long as you’re a U.S. resident, are over 18 years old and have an active checking account.
Getting this card requires that you pay fees in different forms. In the long run, it might end up costing more than the security deposit of a secured card. Once approved, you need to pay an $89 program fee to activate your account. The card charges a $75 annual fee for the first year, and $48.00 per year going forward. You also need to pay a $6.25 monthly servicing fee from the second year.
Pay particular attention to the card’s high APR if you plan to maintain revolving balances in your account from one month to the next. The issuer applies the first year’s annual fee in advance which effectively brings down the card’s initial $300 credit limit to $225.
Ideally, you may use this card by paying off your balances in full each month. Upon seeing improvement in your credit score, you may then consider applying for a card that goes easy on the fees.
- PROS
- Available for people with poor or average credit
- Does not require a security deposit
- Monthly reporting to credit bureaus
CONS- Program fees, annual fees and monthly servicing fees add up.
- High APR
- Need a checking account to apply
- You may qualify with poor or average credit
- No need to pay a security deposit
- Credit limit of $300
- One-time program fee of $89
- Annual fee of $75 for the first year, $48 thereafter
- Monthly servicing fee of $6.25 from the second year
- $29.00 annual fee for each authorized user
- Credit limit increase fee of 20%
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Milestone Mastercard® is a solid choice for those looking to build or rebuild their credit, especially if past financial issues have made obtaining credit challenging. It doesn't require a security deposit and offers a moderate credit limit. Its reporting to major credit bureaus is particularly valuable, aiding in credit score improvement. The card's universal acceptance and mobile account access are convenient for everyday use. However, consider its higher fees and APR to ensure you balance these against the potential credit-building benefits.
- PROS
- Helps build and rebuild credit
- No security deposit needed
- Reports to major credit bureaus
- Universal Mastercard acceptance
CONS- High annual fee
- With monthly fee
- High regular APR
- Obtain credit without a security deposit, suitable for those with less than perfect credit
- Get $700 credit limit
- Benefit from account history being reported to all three major U.S. credit bureaus
- Receive a Mastercard that’s usable online, in-store and through apps
- Access account information anytime, anywhere, including on mobile
- Experience a swift and straightforward application process
- Annual fee: $175 the first year, $49 thereafter
- Monthly fee: $0 the first year, afterward it’s $12.50 per month
- Regular APR: See terms*
Rules for Applying, Acceptance & Welcome Bonuses
If you want to apply for The Bank of Missouri credit card, MoneyGeek answered the most frequently asked questions to guide you through the issuer’s processes and rules.
The Bank of Missouri usually accepts the applications of individuals with poor to fair credit scores, which means your credit score should be at least 300. In other cases, they accept those with no credit history.
Upon checking The Bank of Missouri website, there is no written guide on how many cards you can own with the same issuer. It’s advisable to call or write to The Bank of Missouri and ask them directly.
The Bank of Missouri has not listed a limit on how many times you can apply for a credit card within a specific time frame, but it’s best to contact the issuer directly and find out.
The Bank of Missouri can only approve an additional card after 90 days. If you have already applied for an account and are looking to apply for a new one in less than 90 days, the issuer could decline to process your application.
The credit cards that The Bank of Missouri offers are generally straightforward and don’t have a welcome bonus.
Other Considerations About The Bank of Missouri
Aside from fees and costs, it’s important to consider different factors when you’re looking for the best credit card for you. The table below shows what to check when considering The Bank of Missouri.
Feature | Description |
---|---|
Customer Service & Satisfaction | The Bank of Missouri receives relatively fewer complaints from customers as reported by the Consumer Financial Protection Bureau (CFPB). The CFPB is a government-sponsored agency that aims to protect consumers. Additionally, their customer service is accessible since each card has a specific customer service number that you can call or email. Through their online and mobile banking, you can live chat with their support team. |
Security & Credit Monitoring Services | The Bank of Missouri typically has zero fraud liability for its credit cards. If your card or account is lost, stolen or used without your authorization, you aren’t liable for its use. However, you need to immediately notify the issuer through a call. |
Loyalty Programs & Other Issuer Perks | Perks and benefits depend on which card you’re getting with The Bank of Missouri. For example, the First Access Solid Black VISA® Credit Card doesn’t offer as many rewards or benefits since it’s designed for those with no credit or poor credit history. Meanwhile, the Aspire® Mastercard® Cash Back Reward Credit Card allows cardholders to earn a 3% cash back on eligible grocery, gas and utility purchases and earn a 1% cash back on other eligible purchases in the United States. |
Authorized Users | If you’re looking to add an authorized user with The Bank of Missouri card, you’ll likely need to pay an Additional Card Fee each year. |
Purchase Protection | The Bank of Missouri doesn’t offer purchase protection for its cards. |
Co-Branding & Partnerships | The Bank of Missouri has partnerships with Aspire, Continental Finance, SoFi and Fortiva. The SoFi credit card features DoorDash, Lyft and ShopRunner. |
Other Products Offered | The Bank of Missouri offers financial services for personal use, businesses and long-term investments, including:
|
Overall Opinion of The Bank of Missouri & Their Credit Card Offerings
Getting credit cards with The Bank of Missouri is ideal for individuals with no or poor credit looking to build or rebuild their credit history. Since they offer cards to high-risk profiles, their cards generally have a high APR of 34.99%, a one-time program fee of $89, an annual fee of $75 for the first year and $48 for succeeding years along with a monthly service fee of $75 per year after the first 12 months. The issuer’s credit cards are straightforward and don’t usually offer rewards since their main purpose is to help individuals rebuild credit.
Getting a card with The Bank of Missouri may benefit the following people:
An individual looking to build credit
It’s generally easy to get the Total Visa or First Access Solid Black Visa card with its minimum credit requirement.
Those looking to get a card immediately
With the Total Visa card, you can apply on their website and get a response within a minute. If your application is approved, you’ll receive your card via mail. You’ll need to pay the one-time program fee before activating it.
"Although it may be easier to get approved for a credit card from the Bank of Missouri, the amount of fees that some of its cards charge can quickly eat up your available credit. You may be better off applying for a secured card from another issuer that has no application, origination, or monthly/annual fees. If you do apply for a card with these fees, make a goal to build your credit as quickly as possible so that you can qualify for a no-fee card and close this one once the new card has been opened."
- Lee Huffman, credit card expert at BaldThoughts.com
Still Not Sure About This Issuer? Consider These Options.
If you don’t meet The Bank of Missouri’s specific criteria or are still undecided, try other issuing banks or the best cards for bad credit.
Learn more about credit cards in general
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Aspire. "Pre-qualify." Accessed November 1, 2024.
- Continental Finance. "Verve." Accessed November 1, 2024.
- Milestone Gold Card. "Frequently Asked Questions." Accessed November 1, 2024.
- My Fortiva. "Fortiva Credit Card: See If You Pre-qualify." Accessed November 1, 2024.
- SoFi. "SoFi Credit Card." Accessed November 1, 2024.
- The Bank of Missouri. "Homepage." Accessed November 1, 2024.
- The Bank of Missouri. "Mobile & Online Banking." Accessed November 1, 2024.
- Total Visa. "Terms and Conditions Website." Accessed November 1, 2024.
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