Credit cards are one of the strongest financial tools available. While they are said to have different drawbacks, using them responsibly will only benefit the user, and that too, in different ways.
The Destiny Credit card is one such credit card issued by First Electronic Bank and serviced by Genesis FS Card Services, Inc. The First Electronic Bank is an FDIC-insured state-chartered industrial bank. They are based in Salt Lake City, Utah.
The Destiny credit card is one that doesn’t have to be paid back. For those who are not familiar with the type, an unsecured credit card does not require any kind of security deposit from the user.
As these credit cards are not backed up with any collateral, they are called unsecured.
The Destiny credit card can be achieved by anyone who has bad to fair credit. Destiny credit card reports to all major three credit bureaus.
If you are looking to know more about the Destiny credit card, read on to get an idea about the Destiny credit card login, Destiny credit card features, benefits, and more.
Major Highlights Of Destiny Credit Card
- Unsecured Credit Card
One of the major advantages of the Destiny credit card is that it is an unsecured credit card. This means that the user does not have to make any security deposit in order to have access and use the card. While a secured credit card asks for collateral from the user, unsecured credit card users are free of this liability.
- Nationwide Acceptance
What is the use of having a credit card that is not accepted in a majority of places? But Destiny credit card does not pose the problem of acceptability to their users as the card is accepted everywhere across the nation. Destiny credit card can be used in all places be it in-app, in-store, or online, it is accepted at all places that accept Mastercard.
- Reports the transactions to all three major credit bureaus
Destiny credit card reports to all three major credit bureaus – Equifax, Experian, and TransUnion. The main function of these credit bureaus is to store the information about you, that can be used to generate credit reports.
- Pre-qualify without impacting the credit score
The card also allows the user to determine their creditworthiness by not affecting the credit score of the applicant. The process generally involves soft inquiries about the general information of the applicant. It should not be forgotten that pre-qualifying for a credit card does not guarantee credit card approval.
- Pick the credit card design that suits you
While most credit cards come in a single style, Destiny credit card login offers their customers the choice of choosing the best and most suitable style of card for them.
- Card for everyday use
The destiny credit card has wide acceptance. The card can be used in apps, in-store, and also in online transactions.
Destiny Credit Card Login
Destiny credit card is an unsecured credit card that is apt for a person who is trying to build their credit history. One of the most striking features of the Destiny credit card is that even a person with prior bankruptcies can qualify for the card. Destiny credit card is the best way for you to use your credit card account online.
In order to get started with the Destiny credit card login feature, the first step is that you must have a registered account. In order to register your account, visit the official website of Destiny credit card.
The website will direct you to a tab that says ‘Register Your Account.’ Clicking on the tab will open another page, where you will be asked to type in your basic information like name, card number, and so on.
Once the account registration is complete, it is much easier to log in to your Destiny credit card account.
The Destiny credit card feature can be accessed using the official website of the card. In order to complete the credit card login, you will need to remember the credentials like a username and also a password. Both the username and password should be kept confidential.
Once the login is complete, you will be able to use the Destiny credit card account online.
Pros and Cons of Destiny Credit Card Explained
Credit cards are very powerful financial tools. The responsible use of credit cards will only benefit the user and provide them with additional benefits and rewards.
But just like any credit card, Destiny credit cards also have two sides. Here we will be looking at both, the pros and cons of the Destiny credit card.
Pros of Destiny Credit Card
- No Security Deposit
Destiny credit card is an unsecured credit card. Normally credit cards with bad to poor credit scores like Destiny credit cards are secured with collateral or a deposit. But Destiny credit card does not need to require you for such a collateral or security deposit.
- Low Credit Score
If you are a person with a low credit score and are worried about qualifying for credit, then the Destiny credit card is a suitable option for you. A person with a bad to poor credit score can qualify for the card. Even people who have a history of bankruptcy can qualify for Destiny credit cards.
- Fast Pre-qualification
Many cards available in the market now offer the facility of pre-qualification. It can be used to check the possibility of qualifying for a credit card using simple information about you.
The destiny credit card also offers pre-qualification for their customers. The process of pre-qualification for a Destiny credit card is very easy and it usually only takes less than a minute. It should not be forgotten that approval on pre-qualification is not a guarantee that you are eligible for the card.
- Reports to all three major credit bureaus
Destiny credit card reports to all major three credit bureaus. As the information about your transactions is available with all three major bureaus, it is easier for you to establish a good credit score with proper usage of the card.
Just like the positive sides, Destiny credit card also comes with a few qualities which are not so desirable.
Cons Of Destiny Credit Card
- Annual Fee
Like the majority of the cards in the market, Destiny credit cards also collect a fixed amount from the user annually, which is called an annual fee. The annual fee of the Destiny credit card can range anywhere between $55 – $99.
The amount is comparatively low when comparing it with other annual fees of cards available in the market but it should also be noted that there are different entry-level credit cards that do not charge any annual fee from their customers.
- Foreign Transaction Fees
While the card is acceptable nationwide, the Destiny credit card will pose a problem to people who intend to use it abroad. The card collects a 1% fee on all international transactions done by the user. So, the Destiny credit card is an ideal credit card if you want to use it abroad.
- No Rewards Program
One of the major attractive features of a credit card is the offers and rewards that the card gives the user. Unlike most other credit cards that help to build credit, Destiny credit card login does not provide any cashback or rewards of any sort to the user.
- High Annual Percentage Rate (APR)
Destiny credit card comes with a high APR of 24.90% which could result in large charges if the monthly bills are not paid off fully.
While credit cards provide their users with different benefits, choosing the most suitable credit card is a big task. Each credit card comes with specific qualities which make them more preferable to a particular group of people. So, here are a few categories of people who can choose the Destiny credit card.
- People with bad or no credit
Destiny credit card is a very good choice for people who have bad or no credit score. It should be united that people who have declared bankruptcy can also qualify for Destiny credit cards. The card also reports to all three major credit bureaus, which makes it easy for a person, considering their credit score.
- Students who are looking for their first card
Being a student., it would be a bit difficult to qualify for a credit card. But as the Destiny credit card is easily attainable for people with low or bad credit scores, it is one of the best choices for students as their first credit card.
- For individuals who wish to verify their eligibility
Along with the financial services they offer, Destiny credit card also allows their customers to check their eligibility for a new card through their pre-qualification. Also, making use of the pre-qualification feature does not affect the credit score of a customer.
Just like it is suitable for a specific group of people, Destiny credit card is also not the ideal choice when it comes to another specific category of people. So if you belong to one of the listed categories below, Destiny credit card will not be the ideal choice for you.
- If you are looking for rewards
Reward programs are one of the most appealing aspects of credit. The majority of the credit cards available in the market give their customers rewards and other such benefits for each of their transactions.
But when it comes to Destiny credit card login, there is no reward offered by the card to their customers for using the card. It should be noted that there are other cards in the same category that offer their customers different rewards.
- People Looking for a higher credit limit
The credit limit offered by Destiny credit card is very low. The credit limits only go up to around $300, which is comparatively low. Looking at other cards in the same category, there are cards that offer a higher credit limit or even provide an option to increase their credit limit by charging an equivalent deposit.
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- People who make frequent international transactions
Destiny credit card charges 1% for all international transactions done through the card. While the charge may seem less when compared to the 2% or 3% charges charged by other cards, there are also cards that do not charge any fee for international transactions.
Here are some of the additional features that should be considered before opting Destiny credit card as your choice.
- Cash Advance Fees
Cash Advance Fees is the charge collected each time you make a withdrawal using the card. Destiny credit card does not charge a cash withdrawal fee for the first year. But after that, a fee of $5 or 5% of the transaction amount will be collected depending on which is the higher amount of these two.
- Annual Fee
Destiny credit card collects a fixed amount from the user each year, called an annual fee. The charge will be assigned depending on your eligibility or the charge will be around $75 for the first years and $99 for the following years.
- Credit Limit
A credit limit is the maximum amount of money a lender will allow its customer to spend on the credit line. Destiny credit card only offers its customer a credit limit of $300. It is a very low credit limit for a card in the same category. There are other cards that allow much greater credit limits for their users.
- Fraud protection
Destiny credit card does not offer any fraud liability for unauthorized use of the card.
So, if the Destiny credit card is going to be your first and only credit card, the credit limit of the card should be kept in mind. It means that you should be able to meet your needs within the limit of $300.
Destiny credit card also provides the option to go over the credit limit but the user will have to pay an additional charge of up to $40. It should be noted that going over the limit can also affect your credit score.
If Destiny credit card is going to be an additional card, then make sure that the other card has a higher credit limit and that it does not have any international transaction fees. Also, using Destiny credit card by keeping within the credit limit can help to increase your credit score.
Destiny Credit Card Login Review Conclusion
Credit cards are powerful financial tools only if they are used responsibly. Like every credit card available in the market, Destiny credit cards also have their advantages and disadvantages.
The unsecured credit card can be a suitable choice for people with poor or bad credit or people who are looking for an additional card. But at the same time, this cannot be seen as an ideal choice for a first and only credit card or for people who carry out international transactions.
So, if you are a customer who is planning to apply for a credit card, make sure to analyze your major needs and use for the card and then consider the card that provides you with maximum benefit in areas where you will be using your credit card most frequently.