![Destiny Credit Card Review [2024 Guide]](https://blog.walletmonkey.com/wp-content/uploads/2024/11/Destiny-Credit-Card-Review-512x288.png)
![Destiny Credit Card Review [2024 Guide]](https://blog.walletmonkey.com/wp-content/uploads/2024/11/Destiny-Credit-Card-Review-1920x1080.png)
The Destiny Credit Card has been gaining traction as an option for consumers with less-than-perfect credit. Offering accessible terms for those rebuilding their credit profile, Destiny comes with a streamlined application process, reports to major credit bureaus, and doesn’t require a security deposit. In this review, we’ll walk you through the features, pros and cons, fees, and who the Destiny Credit Card is best suited for.
Table of Contents
Key Features of the Destiny Credit Card
- No Security Deposit: Unlike many other credit cards aimed at credit building, the Destiny Card doesn’t require an upfront security deposit.
- Simple Application Process: A pre-qualification process allows you to see if you’re eligible without impacting your credit score.
- Regular Credit Reporting: Destiny reports to all three major credit bureaus (Equifax, Experian, and TransUnion), which is essential for credit building.
- Fixed APR: With a 24.9% APR, the Destiny Card’s rate is fixed, meaning it won’t fluctuate with market conditions but remains higher than average, making it essential to pay off balances each month.
Pros and Cons
| Pros | Cons |
| Pre-Qualification: See if you qualify without a hard inquiry. | High APR: At 24.9%, the interest rate is higher than average. |
| Credit Bureau Reporting: Ideal for credit building and maintaining a steady record. | Annual Fee: The Destiny Credit Card comes with a $75 annual fee for the first year and $99 thereafter, adding to the cost of ownership. |
| No Deposit Requirement: No need for an upfront deposit, unlike many other credit-building cards. | Low Starting Limit: An initial credit limit of $300 may feel restrictive for users with higher spending needs. |
Is the Destiny Credit Card Right for You?
If you’re on a journey to build or rebuild your credit and want to avoid the upfront costs of a secured card, the Destiny Credit Card could be a suitable option. With its credit bureau reporting and lack of a security deposit, it provides opportunities for credit growth.
However, if you anticipate carrying a balance, consider the higher APR and annual fee. For disciplined users, the Destiny Credit Card can be a stepping stone toward achieving a better credit score, especially with on-time payments and low credit utilization.
Wallet Monkey’s Top Picks
Master Credit Card Lender List
Explore a comprehensive list of top credit card lenders and find the best options for your needs.
Pre-Qualified Credit Card Offers
Find out which cards you qualify for with our up-to-date pre-qualification offers.
Master Credit Union Lender List
A curated list of credit unions offering competitive lending options.
Frequently Asked Questions (FAQs)
1. Does the Destiny Credit Card offer rewards?
No, the Destiny Credit Card does not offer any cashback or points-based rewards program.
2. Will I get a credit limit increase over time?
While the Destiny Credit Card doesn’t guarantee increases, some users may become eligible after demonstrating responsible use over time.
3. How does pre-qualification affect my credit score?
Pre-qualification with Destiny only requires a soft inquiry, meaning it won’t impact your credit score. However, if you proceed with the application, a hard inquiry will be conducted, which could temporarily lower your score.
