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Destiny Mastercard® review: A simple credit-building card saddled with too many fees for comfort

The Destiny Mastercard Mastercard carries too many fees and too high an APR to recommend over the competition. 

 /  10 min
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Snapshot

2.1

Bankrate rating
Info
Rating: 2.1 stars out of 5

Bottom line

The Destiny Mastercard® - $700 Credit Limit may not be your best option if you are trying to build credit. Other credit-building cards come with less fees and lower APRs.

Image of Destiny Mastercard® - $700 Credit Limit

Destiny Mastercard® - $700 Credit Limit

*
2.1
Rating: 2.1 stars out of 5
Bankrate score
Info
Bad to Fair (300 – 670)
Info
Recommended Credit

N/A

Rewards rate

Info

See terms*

Annual fee

N/A

Intro offer

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See terms*

Regular APR

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Destiny Mastercard Overview

The Destiny Mastercard is an unsecured credit-building card that can help you rebuild your credit if you have no credit or a bad credit history. 

Unfortunately, this card is rife with fees counterproductive to a consumer’s credit-building efforts. It carries high ongoing fees and has an incredibly high ongoing APR. This credit-building card has the same issues as other fee-heavy cards that might help you build your credit, but at an even heavier cost.

If you need to build credit and the Destiny Mastercard is the only option available, it works in a pinch. However, proceed cautiously and move on to a card with fewer fees as soon as your credit score allows. 

  • Credit Card Cash Back

    Rewards

    • This card does not offer rewards, which is typical of credit-building cards. 

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • 35.90 percent APR
    • $175 annual fee the first year, $49 annual fee thereafter
    • $0 monthly fee the first year, $12.50 monthly fee thereafter
    • Cash advance fee: $5 or 5 percent of the amount of each transaction, whichever is greater (not to exceed $100)
    • Foreign transaction fee: 1 percent of each transaction in U.S. dollars
    • Late payment fee: up to $41
    • Returned payment fee: up to $41

    Expert Appraisal: Weak
    See our expert analysis

  • Credit Fair

    Credit-building features

    • Reports to all three major credit bureaus 
    • All credit histories considered

    Expert Appraisal: Unimpressive
    See our expert analysis

  • Congrats

    Other cardholder perks

    • 24/7 account access
    • Autopay
    • Fraud protection
    • Overlimit coverage
    • Credit protection

    Expert Appraisal: Unimpressive
    See our expert analysis

Destiny Mastercard pros and cons

Pros

  • Checkmark

    Instant approval allows you to add the Destiny card to your digital wallet as soon as you’re approved.

  • Checkmark

    This card reports to all three major credit bureaus, ensuring your credit-building efforts.

  • Checkmark

    You don't need to put down a security deposit.

Cons

  • Numerous high card fees will cut into your starting credit limit and make it harder to effectively build credit.

  • Very high APR means carrying a balance on this card can quickly rack up interest.

  • This card's relatively low credit limit can make maintaining a healthy credit utilization ratio difficult.

Why you might want the Destiny Mastercard

The Destiny Mastercard keeps things simple, which is great if you need to focus on building credit. Here are a few reasons you might turn to the Destiny Mastercard for your credit-building needs. 

Benefits: Reports to all three credit bureaus

The Destiny Mastercard reports your credit to all three major credit bureaus: Experian, Equifax and TransUnion. By reporting to all three bureaus, the Destiny Mastercard helps keep your score accurate no matter which bureau an issuer uses to gauge your credit score. 

Card approval: You can use the card immediately 

Once you’re approved for the Destiny Mastercard, you can immediately add the card to your digital wallet. This means you can start using your card as soon as you get confirmation, with no need to wait for a physical card. 

While this may not prove exceedingly useful given the modest credit limit, it’s a nice feature if you’re eager to improve your credit as soon as possible. Remember, you’ll need to have a mobile device that supports mobile wallets to use this feature. 

Why you might want a different credit-building card

While the Destiny Mastercard is marketed as a card designed for building credit, the card’s exorbitant fees and low initial credit limit can make that a hard goal to achieve.

Rates & fees: Numerous fees and a sky-high interest rate can strain your wallet

Account fees

The Destiny Mastercard features extremely high fees for a credit-building card. You’ll need to pay a $175 annual fee for the first year and $49 for each year afterward. On top of the annual fee, you’ll also pay a monthly fee, which is an uncommon fee on most mainstream credit cards. This monthly fee is waived for the first year from account opening, but you’ll be charged $12.50 per month after that ($150 annually). 

These two charges combine for $199 in costs annually to keep the account open. These fees cut directly into your already low initial credit limit and could make it difficult to focus on building your credit. 

Interest rate

The Destiny Mastercard also has a very high variable interest rate of 35.90 percent. Very few cards on the market feature an APR this high, and carrying a balance can present an enormous risk of quickly accumulating high interest charges and increasing credit card debt

Ideally, cardholders should always pay their statement balance in full at the end of each month to avoid accruing interest. Many other credit-building cards with a more favorable interest rate might be better if you need to carry a balance.  

Credit limit: Small credit line limits your spending options

Your credit utilization ratio — the percent of credit you’re borrowing from your total credit availability —  is an important factor in determining your credit score. Ideally, you want to keep your ratio to 30 percent or below. Going above this percentage over time can ultimately harm the growth of your credit score. 

With an initial credit limit of just $700, you won’t have much room to work with if you want to stay under that 30 percent target. Assuming the Destiny Mastercard is your only source of credit, carrying a balance above $210 will result in a credit utilization ratio greater than 30 percent. 

The card’s annual and monthly fees make this even more difficult. These fees are applied directly to your account and take up some of your limited total available credit. 

Credit building: Minimal features

The Destiny Mastercard offers surprisingly few credit-building features. While it reports to all three major credit bureaus and considers applications from most credit histories, these are standard features on most credit-building cards. Further, the Destiny Mastercard doesn’t offer to increase your credit limit after a certain period of on-time payments or provide free FICO credit score access. Both of these features are great to have if you’re serious about boosting your credit score

Rewards: No additional value

While this isn’t uncommon among credit-building cards, the lack of cash back or rewards on purchases especially stings considering the card’s annual and monthly fees. Also, with such a low credit line, there is no incentive to spend on this card.

Perks: Just more extra fees

The perks on this card are typical — fraud protection, autopay and 24/7 account access. However, overdraft coverage and credit protection just amount to more excessive fees on top of what’s already being charged. 

Overdraft coverage is an optional feature allowing you to make purchases when you exceed your credit limit for a fee of up to $41. You’ll only pay one fee per cycle but can be charged two additional fees if your new balance stays over your credit limit after a billing cycle.

Credit protection covers you in events like emergencies, injuries or unemployment. For a fee of $1.49 per $100 of your balance, your monthly payments can be canceled for up to six months if you have a qualifying event.

These fees can add up and should be avoided unless absolutely necessary.

How the Destiny Mastercard compares to other credit-building cards

The Destiny Mastercard should only be considered a last-resort option for building credit. While this is an unsecured card, other credit-building secured cards on the market offer superior features without overwhelming fees. 

Image of Destiny Mastercard® - $700 Credit Limit

Destiny Mastercard® - $700 Credit Limit

Annual fee

See terms*

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Bad to Fair (300 – 670)
Info
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Bankrate Score
See Rates & Fees , Terms Apply
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on Discover's secure site

Annual fee

$0

Intro offer

Cashback Match™
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Rewards rate

1% - 2%
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Recommended Credit Score

No Credit History
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Bankrate Score
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Apply now Lock
on Capital One's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

No Credit History
Info

Who is the Destiny Mastercard right for?

This card suits those who need to work on their credit and don't have many other options.

Bankrate’s Take — Is the Destiny Mastercard worth it?

The Destiny Mastercard is a last-resort pick for consumers with a history of poor credit and few other credit-building options available. Unfortunately, the annual fee, monthly fee and high APR make this card a lackluster and risky choice given the other cheaper and more effective credit-building cards on the market. 

How we rated this card

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When evaluating the best cards for building credit, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that make it easy to build credit history while minimizing costs.

We analyzed over 50 of the most popular cards designed for people with no credit history, bad credit or a fair credit score and rated each based on its cost, APR, credit-building features and more to determine whether it belonged in this month’s roundup.

Here are some of the key factors that we considered:

Frequently asked questions

The information about the Destiny Mastercard has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the issuer.  

Written by
Steve Dashiell
Editor, Credit cards

Steven Dashiell is an editor for Bankrate and CreditCards.com with expertise in rewards credit cards, financial literacy, and helping consumers build and maintain their credit.

Edited by Former Senior Editor, Credit Cards

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Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.