Total Visa® Card review: Building your credit comes at a steep price

The Total Visa card is simple to apply for and quickly gets you on the path to improving your credit. One of the best features is that there is no security deposit, lowering your initial out-of-pocket costs.

Credit-building: Easy to boost your credit score with responsible use

You don't have to go through many hoops to get the Total Visa card since it's meant for those who need to repair their credit standing. Here are some ways it might prove helpful for those looking to build their credit:

• Simple approval: This card doesn’t have a minimum credit requirement and is available in most states, excluding New York. After you apply, you should get a response immediately. 
• No security deposit: You won’t have to offer any cash to secure your credit limit — although the cash you’ll pay to cover the card’s fees will add up quickly, taking away a lot of the benefit from having an unsecured card.
• Reports to all three major credit bureaus: While many cards only report to one or two credit bureaus, the Total Visa reports to all three. This helps you build* your credit at each one if you show consistent and responsible credit card use. Remember, rebuilding credit depends on factors like making on-time payments, keeping your credit utilization ratio low and paying at least the minimum monthly payment.

Although the Total Visa card can help you build your credit score back up, there are far more disadvantages than advantages, such as minimal rewards or incentives for purchases, no perks besides basic credit building and an exorbitant amount of fees. 

Rates and fees: Beware of a high APR coupled with numerous fees

A high interest rate (35.99%* fixed APR) and excessive fees plague the Total Visa card, making it difficult to recommend for even the worst situations.

To get started with the Total Visa card, you’ll first pay a one-time program fee of $95 — and that’s before your annual fee is placed on your card balance. Annual fees are determined by the amount of credit you're approved for. For instance, if you are approved for a $500 credit limit, you'll pay $125 for the first year, then $48 thereafter. 

That doesn't even include the monthly servicing fee — also determined by credit limit. For the same $500 credit limit, you won't have to pay a monthly servicing fee for the first year, but will pay $123 thereafter in $10.25 monthly increments. As you can see, these fees would eat up your credit limit very quickly without you spending a dime. 

Rewards: Small rewards program and no welcome offer

As a credit card designed to help you rebuild* your credit, the Total Visa credit card is extremely bare-bones. It offers 1% cash back on payments made to the card's balance and up to 10% cash back on qualifying purchases at select participating merchants. This is a decent perk, however, it doesn't come with the introductory bonus you might see with other unsecured credit cards for bad credit. 

The only type of intro offer you can expect from this card is a waived monthly servicing fee for your first year. But if you choose to go with the Total Visa to help rebuild* your credit, you should work during those 12 months to build a credit strong enough to qualify for a card that doesn’t charge servicing fees in the first place.

Cardholder perks: Lacking in additional perks and protections

The Total Visa card has one purpose and one purpose only — rebuilding* credit. For people with damaged credit, it can help start the journey back to healthy credit. But, like most credit-building cards, it doesn’t have many additional perks or features.

However, standout unsecured cards for bad credit might include card protection and more credit-building benefits, like the Credit One Bank® Platinum Visa® for Rebuilding Credit*, which offers free access to your monthly credit score and zero fraud liability.  

Finding the right credit-building tool is key to helping you boost your score (in addition to keeping up positive credit behaviors over time). The Total Visa leaves a lot to be desired compared to other credit cards for bad credit. There are many other card options — including both secured and unsecured credit cards — that are less expensive and more rewarding.

• Have less-than-ideal credit and limited options when it comes to credit cards you'd be eligible for
• Don’t mind that the Total Visa doesn’t have many perks besides credit building
• Don't want a secured credit card and would prefer to forgo the security deposit

*The information about the Credit One Bank® Platinum Visa® for Rebuilding Credit has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.  

^^1% Cash Back is earned on payments to your Credit Card. Up To 10% Cash Back is earned on qualifying purchases at select participating merchants. Offer percentages vary by merchant and are subject to change. See Total Card Visa Rewards Programs Terms & Conditions for details.

Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.

We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category. 

Here are some of the key factors that gave this card its score: