The Tribute® Gold MasterCard® Credit Card was last reviewed on
10th February 2009
Summary - The Tribute® Gold MasterCard® is an unsecured credit card designed for those with not so good credit. This card allows you to get an initial credit limit of $300. Find out more about this card.
Fees - Like most unsecured credit cards for people with bad credit, the Tribute® Gold MasterCard® credit card comes with a fees that you should be aware of. Firstly, the annual fee is $150.00. There is a monthly fee
of $9.95, which works out to $119.40 annually.
APR - The APR is prime rate plus 24.5%. The average daily balance method (including new purchases) is used to calculate monthly balances. The grace period is 25 days.
Credit Limits - If you are approved for the $300 Card, your credit line will be $300 and your Annual Fee of $150 will appear on your first statement. Once your initial minimum payment of $30 has been received, cleared and posted on your credit card account, your initial available credit will be $180. You will be billed an Account Maintenance Fee of $9.95 per month (total of $119.40 per year), beginning after you make your first purchase or cash advance.
Verdict - The Tribute® MasterCard® Gold Credit Card has significantly higher
fees than other sup-prime cards. If you add up both the annual fee and the monthly
maintenance fees, they total over two hundred dollars. Plus, the card has a high
24.5%* interest rate. A much better card to get would be the Orchard Bank Classic MasterCards, which has probably has lowest and most reasonable fees.
"Important: Always read the full terms & fees disclosure provided by the credit card issuer before you apply. The creditor's terms may include more detailed or updated information than this chart."
Positives
No minimum finance chargesGrace period of 25 daysNo one-time application fee
Negatives
High annual fee
| Annual Fees |
$150.00 |
| Monthly Participating Fees |
$9.95 per month |
| One-time Setup Fees |
None |
| Purchase APR |
24.5% |
| Cash Advance APR |
30.50% |
| Penalty/Default Rate APR |
30.50% |
| Min Finance Charge |
None |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Cash Advance fee |
5%, min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$35.00 |
|
