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Have A Question About Credit Cards?
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Review of the Tribute® Gold Mastercard® Credit Card
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 |
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Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Disclaimer 2: Though we may be affiliated with some credit card issuers, our credit cards reviews and the content on this site is written solely by us and are not influenced in any shape or form by any credit card issuers. In fact, any content here is copyrighted and cannot be reproduced elsewhere without permission. Though we make every attempt to make sure that our content is up to date. But please always check the terms and conditions for the most updated information since things like APR change fairly often.
*See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. *See the online application for details.
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