MoneyGeek’s Take

Destiny Mastercard® - $700 Credit Limit Review

The Destiny Mastercard® - $700 Credit Limit is a potentially viable option for those with fair or poor credit, but make sure to weigh the lack of security deposit and manageable credit limit against its high fees and APR.

By Doug Milnes, CFA

Reviewed by Alene Laney

Updated: December 9, 2024

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Destiny Mastercard® - $700 Credit Limit

Rates & Fees

REVIEW & APPLY

On Issuer's Site

Security Deposit

N/A

APR

35.9%

Annual Fee

$175 the first year, $49 thereafter

Recommended Credit

300 – 670 (Bad to Fair)

PROS
- No security deposit required
- Credit limit up to $700
- Available to people with poor or fair credit
CONS
- High APR
- High fees
- No rewards
- Credit Access & Security
  - Unsecured credit card with no security deposit required, offering a $700 credit limit.
  - Enjoy fraud protection if your card is lost or stolen.
  - Use your card wherever Mastercard is accepted, whether in-store, online, or via app.
  - Application & Account Management
  - Experience a quick application process with decisions typically made in 60 seconds.
  - Access your account 24/7, including on mobile devices.
- Credit Reporting
  - Your activity is reported to all three major credit bureaus.

The Destiny Mastercard® - $700 Credit Limit offers a practical solution for those with less-than-perfect credit scores, delivering a credit card that doesn't require a security deposit. Its moderate credit limit could help you manage expenses while assisting in credit building. However, this card does require careful financial management due to its high fees and significant APR. It's important to weigh the convenience and accessibility of the Destiny Mastercard® - $700 Credit Limit against its associated costs before deciding if it's your best option.

Destiny Mastercard® - $700 Credit Limit Overview

When choosing a credit card, it's crucial to thoroughly evaluate its features, understanding that each attribute can significantly impact your financial health and credit-building journey.

Regular APR: 35.90%
Deposit required: $0
Potential credit limit: $700
Annual fee: $175 the first year; $49 thereafter
Rewards rate: None

Important Card Details

The Destiny Mastercard® - $700 Credit Limit is an accessible option for those with poor or fair credit. However, its high fees and notably high APR are significant factors to weigh against the benefits. Here are some key considerations when it comes to this card:

No Security Deposit

The Destiny Mastercard® - $700 Credit Limit notably doesn't require a security deposit, making it accessible to those who may not have spare funds to put down. While this is a common feature of unsecured credit cards, it stands out among cards designed for those with poor or fair credit, which are typically secured credit cards. The lack of a deposit removes a barrier to entry, but it's crucial to consider this with the card's other features, like high fees and APR, before deciding if it's the right fit.

Average to Low Credit Limit

With a credit limit of $700, the Destiny Mastercard® - $700 Credit Limit may seem appealing to those with limited credit or a low credit score. This moderate limit can help you manage your spending and prevent debt accumulation. However, it may be inadequate for those with larger expenses or who want to take full advantage of credit utilization ratios for credit building.

High Fees

While the Destiny Mastercard® - $700 Credit Limit offers some perks, it comes with a hefty price tag. The high annual fee, especially in the first year, along with a recurring monthly fee after the first year, can quickly add up. These fees reduce your available credit and may be worth considering whether they outweigh the benefits for your specific financial situation.

Extremely High APR

The Destiny Mastercard® - $700 Credit Limit has a steep APR of 35.90%. This is an important factor to consider as it's significantly higher than most other cards, including those targeting individuals with low credit scores. If you often carry a balance month-to-month, interest will accumulate quickly with this card, potentially leading to a cycle of debt.

How the Destiny Mastercard® - $700 Credit Limit Compares

Let’s compare the Destiny Mastercard® - $700 Credit Limit alongside another card for people with limited credit to help you find the perfect fit for your financial needs.

How This Card Compares

Destiny Mastercard® - $700 Credit Limit

Regular APR: 35.90%
Deposit required: $0
Potential credit limit: $700
Annual fee: $175 the first year; $49 thereafter
Rewards rate: None
Best for: building credit without a security deposit

Capital One Platinum Secured Credit Card

Regular APR: 29.99% variable
Deposit required: $49 to $200
Potential credit limit: $200
Annual fee: $0
Rewards rate: None
Best for: building credit with no fees

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.

Read Full Bio »

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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