Destiny Credit Card Review: Key to Better Credit

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Destiny Credit Card Review: The Key to Better Credit

Rebuilding your credit score is a complex journey full of challenges but also opportunities to improve. The Destiny credit card is a key tool in this process, specially designed for people working on improving their credit scores. It’s like a helping hand for those who have had financial troubles before.

This review of the Destiny credit card will thoroughly examine its main features. We’ll discuss everything from how much it costs to use this card to its advantages and even possible downsides. This detailed overview aims to help you decide if this card is a good match for your financial journey. By understanding the different parts of this credit card, we hope to guide those fixing their credit, showing whether the Destiny credit card is the right choice for their financial recovery.

Destiny Credit Card: Overview


Type: Unsecured credit card
Regular Apr: 35.9% p.a.
Annual Fee: $175 in the first year ($49 after the first year)

The Destiny credit card is a crucial financial instrument for individuals keen on reconstructing their credit profile. As an unsecured credit card, the Destiny card notably does not necessitate a security deposit from its cardholders, which sets it apart in the market for credit-building financial products. This card shows an annual percentage rate (APR) of 35.9%. This reasonably high rate shows the risk the provider is taking by giving credit to people with bad credit.

The Destiny card offers a significant advantage by reporting to the 3 major credit bureaus: Experian, TransUnion, and Equifax. Such reporting empowers users to showcase their reliability in credit management through consistent on-time payments and judicious use of their credit facilities. Consequently, users of the Destiny credit card are positioned to potentially elevate their credit scores progressively over time, making it a strategic choice for those committed to rebuilding their financial standing.

Eligibility of Destiny Credit Card

The Destiny Mastercard is a symbol of opportunity for those seeking to establish or enhance their credit score. It opens its doors to a wide array of applicants, but specific criteria need to be met for approval.

  • Individuals must be at least 18 years old to be considered for the Destiny credit card.
  • Applicants must possess a valid social security number and a physical address within the United States. It is also essential to apply with a US IP address. Importantly, those with a Destiny Mastercard account terminated due to non-payment are not eligible for a new account.

The process of assessing creditworthiness for the Destiny credit card extends beyond these basic requirements.

  • Applicants must demonstrate their financial stability through a detailed review of their income and debts.
  • Adhering to stringent identity verification standards is a key aspect of the eligibility process.

This comprehensive assessment ensures that the Destiny credit card is granted to individuals who are not only legally qualified but also financially prepared to manage the responsibilities of a credit card.

Benefits of Destiny Credit Card

The Destiny credit card offers something different from many credit cards. It doesn’t have the usual rewards like points, cash back, or miles that you see in other card programs. This is pretty common for cards that are made to help build credit. The main purpose of the Destiny credit card is to give people a chance to work on their credit history, not to earn rewards for what they buy.

For those who choose the Destiny credit card, the focus is more on the long-term goal of improving financial health rather than getting immediate rewards. This card is helpful for anyone trying to improve or start their credit journey. It’s all about helping you build good credit habits, like paying bills on time and using credit wisely, which are important for boosting your credit score.

Destiny Credit Card Fees and Interest

When you start with the Destiny credit card, there’s an initial joining fee of $175, a standard cost for new cardholders. In the first year, there’s a bit of a financial breather as there’s no monthly fee. From the second year onwards, you’ll need to budget for a monthly charge of $12.5. This fee change from the first year to subsequent years is helpful for long-term financial planning.

However, the recurring annual fee is a crucial factor in the overall cost of maintaining the card. Those who might miss a payment should be aware of the late payment fee, which varies from $29 to $40. It depends on specific circumstances. This is an avoidable cost with timely payments.

Additionally, the card charges a 1% fee on foreign transactions, an essential factor to consider for users who engage in international spending or travel.

Joining Fee$175
Monthly Fee$0 for the first year, then $12.5 a month after that
Annual Fee (p.a.)$175 for the first year, then $49 a year after that
Late Payment Fee $29 up to $40
Foreign Transaction Fee1%

Pros & Cons of Destiny Credit Card

Understanding the advantages and disadvantages of the Destiny credit card is key to determining whether it’s the right tool for your credit-building journey. Here’s a comprehensive look at its pros and cons:

  • Credit building
  • No security deposit required
  • Designed for poor to fair credit
  • Fraud protection
  • High fees and annual percentage rate
  • No rewards program
  • High initial annual fee

Pros Explained

  • The Destiny credit card is designed to help users improve their credit scores by reporting their account activity to the three major credit bureaus. This consistent reporting can positively impact credit scores over time, especially with regular, on-time payments and responsible credit utilization.
  • Unlike secured credit cards, this card does not require a deposit to open an account. This feature makes it more accessible to individuals who may not have the upfront cash available for a deposit, offering an opportunity to build credit without that initial financial barrier.
  • This credit card caters specifically to individuals with poor to fair credit histories, providing them with a financial product aimed at helping them rebuild their credit. It’s a valuable tool for those who might be rejected by other credit card applications due to their credit score.
  • The issuer protects cardholders against unauthorized transactions, offering them peace of mind in case their card gets lost or stolen. This fraud protection ensures that the issuer does not hold users financially responsible for charges they did not authorize.

Cons Explained

  • The card comes with a high annual percentage rate (APR) and substantial fees, including a significant annual fee in the first year. These costs can accumulate over time, especially if the cardholder carries a balance from month to month, making it expensive to hold and use the card.
  • Unlike many other credit cards, this card does not offer any rewards program, such as cashback or points for purchases. This absence means cardholders do not receive additional benefits from their spending on the card.
  • The first year’s annual fee is notably higher compared to many other credit-building cards. This upfront cost can be a deterrent for some individuals considering the card for their credit-building needs.

Is Destiny Credit Card Worth Considering?

Is Destiny Credit Card Worth Considering?

Deciding whether the Destiny credit card is worth considering hinges on individual financial situations and credit-building goals. This card serves as a valuable tool for those with poor to fair credit scores, offering a chance to rebuild credit history without requiring a security deposit. Its main advantage lies in reporting to the three major credit bureaus, which can help improve credit scores over time through responsible use. However, the card’s high annual percentage rate (APR) and fees, including a significant annual fee in the first year, must be carefully weighed. 

For individuals who can manage to pay off their balance in full each month, thereby avoiding the high interest charges, and who need a stepping stone to better credit, the Destiny credit card could indeed be worthwhile. For individuals who may not qualify for other credit cards and aim to build a stronger financial future, this card is particularly suitable. The Destiny card provides a viable solution for those looking to improve their credit, especially when other credit-building options have been exhausted or are not available. However, it’s crucial for users to be aware of its costs and to commit to using it wisely.


1. What is a Destiny credit card?

The Destiny credit card is an unsecured credit card designed primarily for individuals looking to build or rebuild their credit. It does not require a security deposit and reports to the three major credit bureaus, aiding users in improving their credit scores through responsible use.

2. Who issues the Destiny credit card?

The Destiny credit card is issued by First Electronic Bank, which is located in Salt Lake City, Utah. They specialize in offering credit products that help consumers manage their financial health and improve their credit standings.

3. Is it hard to get approved for a Destiny credit card?

The Destiny card targets individuals with poor to fair credit scores, making it more accessible than many other credit cards. While it imposes eligibility requirements, including age, residency, and a financial history check, its approval criteria aim to accommodate individuals working towards credit improvement.

4. Who is suitable for a Destiny credit card?

This card is suitable for people who are either looking to build their credit history from scratch or those aiming to rebuild their credit scores.

5. What is the highest credit limit for the Destiny credit card?

The highest credit limit for the Destiny credit card typically starts at a lower range but can vary based on the individual’s creditworthiness and financial situation. The issuer usually sets the initial credit limit to ensure cardholders can manage their spending and payments responsibly. For specific limits, applicants should refer to the terms provided upon approval.

Related Articles:

Read more: Credit Card Reviews

By FinxpdX Team
By FinxpdX Team
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