Destiny® Mastercard® with $1,000 Credit Limit
REVIEW

$1,000 Limit Unsecured Credit Limit

The Destiny Mastercard with $1,000 credit limit is a credit card from Concora Credit Inc and has the highest credit limit among all Destiny credit cards. Their other versions have $700 credit limit and another has a cash back rewards program (also with a $700 credit limit). Destiny allows you to pay your credit card bills with a debit card and you can manage the card with the Concora Credit Inc mobile app. The card comes with both an annual fee and a monthly fee from the second year onwards.

This card is a candidate for rebuilders looking for an unsecured credit card with a $1,000 starting credit limit and/or one that allows you to pay your credit card bills with a debit card. However, one should also consider the high fees that the card charges. Our analysis shows that the Destiny Mastercard with $1,000 credit limit has a higher TFCL ratio (total fee to credit limit ratio) than it's peers.

In this review, we will compare the Destiny Mastercard with $1,000 Credit Limit with it's peers. Find out how we rate this card.

Pros	Cons
$1,000 Credit Limit	Credit Limit does not increase
Consistent Credit Bureau Reporting	Fees are increased from Second Year Onwards
Mobile App and Autopay	No Pre-approval Process
Approved Those Who Have Been Discharged from Bankruptcy
Can pay with debit card, MoneyGram and PayNearMe
Low Foreign Transaction Fee

Card Details Evaluation

Annual Fee	Year 1 = $250 Year 2 = $99
Monthly Fee	None for first year, then $19.50month ($231 annually)
APR	35.9%
Late Fee	Up to $41
Cash Advance APR	35.9%
Cash Advance Fee	$0 introductory fee for first year, then either the greater of $10 or 3% of cash advance
Foreign Transaction Fee	$0 introductory fee for first year, then 3%

Fees - Both Annual Fee and Monthly Fee

Like many unsecured credit cards targeting people with bad credit, Milestone charges both an annual fee and a monthly fee from the second year onwards. During the first year, the annual fee is $250. Then it is reduced to $99 a year. However, though there is a reduction in the annual fee from the second year onwards, they do charge a $19.50 monthly fee on top of the $99 annual fee.

Fixed $1,000 Credit Limit

The starting credit limit is $1,000 and will remain at this level as long as you have the card as Milestone does not give credit limit increases.

Requirements: Credit Score and Others

Before we proceed with our detailed analysis of this card, let's first go through their requirements for you to get approved for this card.

Credit Score Requirements - The minimum credit score you need to apply for this card is 510. However, the vast majority of people who get approved for Destiny have an average score of between 560 and 640. If your credit scores are below 560 (ie low 500 level), we suggest that you should consider a no hard inquiry credit card like Arro Mastercard where the requirements are based on monthly income and bank balance.

No Delinquent Accounts - Destiny is very strict about having no delinquent accounts on your credit report. That means that you should not have any charge offs on your credit report that are not PAID or SETTLED. If you have a few charge offs on your account that you are still delinquent on, you will NOT be approved for the card. In fact, it is very difficult to get approved for unsecured credit cards with bad credit if you have unsettled charge offs and collections in your credit report unless you are reaching your statutes of limitation and the amounts owed are very small.

Can be approved with discharged bankruptcy - Destiny will approve those of you with discharged bankruptcy (especially chapter 7 BKs). The reason is because your debts have been wiped clean and you are starting afresh. You are a much less risky consumer despite the fact that your credit scores may be low from the bankruptcy discharge.

No more than 2 hard inquiries during last 6 months - Destiny does not want to see too many hard inquiries on your credit report. Max is 2 for the last 6 months. We suggest going on an app spree if you intend to apply for the Destiny Mastercard.

Preferably 2 tradelines - This is not a hard and fast rule. For example, many folks who have just been discharged from their bankruptcy (especially chapter 7 bankruptcy) have gotten Destiny as their first rebuilder credit cards. But you should ideally have one or two tradelines on your credit report when you apply.

Have Driver's License and Utility Bills Handy - When you apply for the Destiny credit card, you might be asked for documents to verify your identity and address. Having a picture of your DL and utility bills in your computer harddrive and/or mobile phone will come in handy should you be asked for these.

Nice Features that Destiny Has

This version of Milestone card has some features that cardholders like:

$1,000 Credit Limit

Many cardholders or people who are thinking of apply like the fact that the credit limit is $1,000. Most unsecured credit cards for people with poor credit have low limits ranging from $300 to $500. So $1,000 is a decent limit when you have bad credit.

Allows you to pay with a debit card

Milestone has recently allowed cardholders to pay their credit card bills with a debit card. This will delight many people because very few credit card issuers allow that. Some that allow you to pay via debit card require you to pay over the phone. This is a convenient feature that many of you will love.

Has Mobile App

Admittedly, Milestone was late to the game on the mobile app front. But they now have one and it is quite good and the features are always improving.

Some ShortComings

There are some things that you have to be aware of the Milestone Mastercard - $1,000 Limit.

$1,000 Credit Limit does not increase

While you definitely get a $1,000 credit limit if you are approved for the card, the limit will stay the same as long as you have the card. Milestone does not increase credit limits for any of their cards.

Annual Fees and Monthly Fees are Higher than their peers

The annual fee and the monthly fees from the second year onwards is high and in fact, higher than most of it's peers. Let's look at the annual fee. During the first year, it is $250 and then is reduced to $99. Most other unsecured credit cards targeting people with bad credit have annual fees at $175 during the first year and then declining to $49.

From the second year onwards, Milestone charges a $19.50 monthly fee which works out to $231 annually. This is higher than the $15 a month fee that other subrpime unsecured credit cards charge.

Analysis: Total Fees to Credit Limit Ratio (TFCL)

Here at www.askmrcreditcard.com, we like to analyze subprime unsecured credit cards with the Total Fee to Credit Limit ratio. We do this by adding the fees of the credit card and dividing it by the credit limit. This gives us a sense of how much fees we are paying relative to the credit limits we get. The average TFCL ratio ranges from 25% to as high as over 40%. The better cards have TFCL ratios of 20% or less.

TFCL Ratio of the Milestone Milestone - $1,000 Limit

During the first year, you have to pay a $250 annual fee. As the credit limit is $1,000, the Total Fee to Credit Limit ratio is $250/$1,000 = 25%. From the second year onwards, the annual fee is adjusted to $99 from $250. But you have to pay an additional monthly fee of $19.50 which works out to $231 annually. Hence, the TFCL ratio from the second year onwards is ($99 + $231)/$1,000 = 33%. This is a rather high ratio and is higher than most of it's peers.

Other Destiny Credit Cards

Destiny also has other credit cards that you may also want to consider aside from this $1,000 credit limit version. They have a Destiny $700 limit version and a Destiny Mastercard with 3% Cashback. The table below compares all three cards.

Card	Annual Fee	Monthly Fee	Credit Limit	Fees/Credit Limit Ratio
Destiny $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Destiny $700	Year 1 = $175, Then $49	Year 1 = $0, then $12.50/month ($150/year)	$700	Year 1 = $175/$700 = 25% Then ($49 + $150)/$700 = 28.43%
Destiny 3% Cash Back	Year 1 = $175, Then $49	Year 1 = $0, then $12.50/month ($150/year)	$700	Year 1 = $175/$700 = 25% Then ($49 + $150)/$700 = 28.43%

The main offering from Destiny is the Destiny $700 limit version. While it has a lower credit limit compared to the $1,000 version, it also has lower fees and a lower TFCL ratio. The Destiny Mastercard with 3% cash back has identical fees as the $700 version but offers 3% Cashback Rewards on your first $5,000 in gas, grocery, restaurant, & mobile phone service purchases and 1% Cashback Rewards on all other purchases.

If you are concerned about the fees you have to pay for the Milestone with $1,000 limit version, then the two other Milestone cards are great altervatives (especially the one with cash back).

Competition

The key feature of the Milestone Mastercard with $1,000 limit version is that you will definitely get a starting credit limit of $1,000 IF you are approved. Hence, I will first compare it with other credit cards that also offer $1,000 starting limits.

Compared with other credit cards from Concora Credit

Destiny is part of Concora Credit Inc, which also has other credit cards under the Milestone and Indigo brand. All three brands have cards with $1,000 and $700 credit limits and also cards with cash back rewards program. The table below shows the details of these various cards.

Card	Annual Fee	Monthly Fee	Credit Limit	Fees/Credit Limit Ratio
Destiny $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Milestone $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Indigo $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Destiny Cash Back $700	Year 1 = $175 Then $49	Year 1 = $0 Then $12.50/month	$700	Year 1 = $175/$700 = 25% The $(49 + 150)/$700 = 28.43%
Milestone Cash Back $700	Year 1 = $175 Then $49	Year 1 = $0 Then $12.50/month	$700	Year 1 = $175/$700 = 25% The $(49 + 150)/$700 = 28.43%

As you can see from the table above, Destiny, Indigo and Milestone all have credit cards with $1,000 starting credit limit and they all have identical terms. Both Destiny and Milestone also have cash back credit cards with $700 limit. Destiny cash back rewards program offers 3% cash back on the bonus categories of gas, grocery, restaurant, & mobile phone service purchases for up to $5,000 of spending in these categories. In contrast, the Milestone cash back is a flat rate cash back of 1.5%. Both cash back cards have identical fees and rates and in fact has lower annual fee and monthly fee than the $1,000 credit limit version.

Compared with other $1,000 Limit credit cards

Card	Annual Fee	Monthly Fee	Credit Limit	Fees/Credit Limit Ratio
Destiny $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Milestone $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Indigo $1,000	Year 1 = $250 Then $99	Year 1 = $0, Then $19.50/month ($231/year)	$1,000	Y1 = $250/$1,000 = 25% Y2 = ($99 + $231 = $330)/$1000 = 33%
Reflex $1,000	$125	$0	$1,000	$125/$1,000 = 12.5%
Surge $1,000	$125	$0	$1,000	$125/$1,000 = 12.5%
Imagine Visa $1,000	Y1 = $175, then $49	Y1=$0, then $15/month ($180/year)	$1,000	Y1 = $175/$1,000 = 17.5% Y2 = ($49 + $180)/$1,000 = 22.9%
Fortiva Mastercard $1,000	Y1 = $175, then $49	Y1=$0, then $15/month ($180/year)	$1,000	Y1 = $175/$1,000 = 17.5% Y2 = ($49 + $180)/$1,000 = 22.9%

The table above shows Destiny's competitors who also have credit cards with a $1,000 starting credit limit. Both the Reflex Mastercard and the Surge Mastercard from Continental Finance offer up to a $1,000 starting credit limit. Reflex and Surge make you go through a pre-approval process whereby if you pre-qualify, you may be offered a version with either a $300, $500, $750 or $1,000 starting credit limit. In contrast, the Destiny $1,000 limit Mastercard has no pre-approval process and only one credit limit at $1,000. The $1,000 starting credit limit version of Reflex and Surge have a $125 annual fee and no monthly fee and you can get a maximum credit limit is $4,000 over time. Reflex and Surge Mastercard have lower fees and a potenial higher credit limit than Destiny Mastercard.

The Imagine Visa and the Fortiva Mastercard from Atlanticus also have starting credit limits of up to $1,000. Both these cards require you to go through a pre-approval process as well and you may be offered a card within a range of credit limits of which the highest is $1,000. As you can see from the table above, both the Imagine Visa and Fortiva Mastercard have lower fees than the Destiny Mastercard.

Our Take: One of the Few Bad Credit Card with $1,000 Credit Limit

While most unsecured credit cards that target people with poor credit have low credit limits (usually ranges from $300 to $500), the Destiny Mastercard with $1,000 credit limits is one of the rare unsecured credit cards that gives you a $1,000 limit. It is also one of the rare credit cards that allow you to pay your bills with a debit card and it has a mobile app (which may subprime credit cards and even credit unions do not have).

Having said that, their fees are higher than their peers with $1,000 credit limit cards (see table above). Furthermore, the $1,000 credit limit you get with Destiny Mastercard does not increase. The Destiny Mastercard also does not have a pre-approval process whereby you face a soft pull to see if you are pre-approved.

Based on our evaluation and review of the Destiny Mastercard with $1,000 credit limit, we have decided to give it a 3.8 stars rating out of 5 for it's higher credit limit of $1,000, the ability to pay via debit card and the ability to manage your account on their mobile app. The high fees and lack of credit limit increases prevents us from giving it a higher rating.

If you are rebuilding your credit and want an unsecured credit card with at $1,000 credit limit, then the Destiny Mastercard is a candidate. However, there are other lower cost cards like the Reflex Mastercard and Surge Mastercard from Continental Finance. Destiny also has another card with $700 credit limit with lower fees which you might want to consider as well.

Alternatives

While getting a $1,000 credit limit on an unsecured subprime credit card is very attractive, the fees on the Destiny Mastercard are rather high even when compared to it's peers. If you are looking for an unsecured credit card with $1,000 credit limits with lower fees, here are some alternatives.

Arro Mastercard - The Arro Mastercard has very low fees ($3/month which works out to $36 annually). This is significantly lower than the fees charged by the Destiny Mastercard with $1,000 credit limit. The highest credit limit you can get with Arro is $2,500. The APR is 16% and nearly 50% lower than the 35.9% that Destiny charges. While Destiny will perform a hard inquiry and either reject your application or approve you, Arro will approve you if you meet a minimum monthly income requirement of $1,000 and a positive bank balance of at least $50. Arro will require you to connect your bank account via PLAID to Arro to verify these 2 criteria. If you meet these 2 requirements, you will be approved. Whilst Destiny will not increase your initial $1,000 credit limit, Arro will increase your credit limit if you complete certain financial literacy courses on their app. You will also earn 1% cash back on gas and groceries including at Walmart and Target.

In my opinion, Arro is better than Destiny because of the lower fees, potential higher credit limit and also because you will avoid any hard inquiries on your credit report that my affect your FICO score negatively for a while.

Reflex or Surge Mastercard - Another alternative is the Reflex Mastercard or the Surge Mastercard from Continental Finance. Unlike the Destiny Mastercard which requires an immediate hard inquiry, both the Reflex and Surge allow you to go through a pre-approval with no impact on your credit score. If you are pre-approved, you will either be offered a card with $300, $500, $750 or $1,000 credit limit. The $750 and $1,000 limit version both have annual fee of $125 (and no monthly fee) which is significantly lower than the total fees of the Destiny Mastercard.

Some Customer Reviews

I got the offer in the mail with the $1,000 credit limit offer. Fees were high with $250 annual fee during the first year. But I decided to go for it because of the credit limit. My Capital One appears to have capped out at $300. We'll see what happens after a year. But I will definitely keep it for a year and hope I get higher limit cards with lower fees.

I had them for a year. Then they started charging me a $19.50 monthly feef. I just cancelled it.

I have both the Milestone and Indigo Mastercard which are both from Concora Credit. You can manage both cards from the same app and make payments for both cards from the same app. I find that my payments clear the next business day and is reflected in my credit limit the next business day.

I have this card and did not realized that they started charging me a $19.50 monthly fee until I checked my statement. I autopay my bills so I do not check my statements often (as I should). Am definitely cancelling this card.

I am in my second year on this card and yes, they do starting charging $19.50 a month from the second year onwards. I still have a balance on the card and as soon as I pay it off, I will cancel it. I think this is an ok card to have for one year. But the monthly fee really makes it expensive from the second year onwards.

I got this card and it is legit. But the annual fee is high and the main problem I have is that my app keeps going down. So I end up paying through the website portal.

I got the Milestone with $1,000 limit and it does have a $250 annual fee. But I just cancelled it because I got the Apple Card with $3,500 limit. So bye bye to all my high fee cards.

I pay by debit card and it takes a few days for payment to clear and be reflected in my credit limit. I do not understand why there is a hold if I pay via debit card.

I have 3 cards with them (Indigo, Milestone and Destiny). Indigo has a low limit so I cancelled the card. I one I like the best is Milestone cos I have a high limit. I can manage all three cards on the same app with the same login. Concora has definitely improved their app over time.

FREQUENTLY ASKED QUESTIONS

Can I open more than one account?

Can I open more than one account?

Does Destiny have a pre-approval process with soft pull?

Does Destiny have a pre-approval process with soft pull?

Can I apply over the phone?

Can I apply over the phone?

Can I transfer a balance to Destiny Mastercard?

Can I transfer a balance to Destiny Mastercard?

Can I pay my Destiny card with a debit card?

Can I pay my Destiny card with a debit card?

Customer Service Information

Mail

Genesis Card Services
P.O. Box 4477
Beaverton, OR 97076-4477

Toll-Free Customer Service Number

1-866-453-2636

Milestone Mastercard Payment

Genesis FS Card Services
PO Box 84059
Columbus, GA 31908-4059

Milesstone Credit Card Fax Number

Fax: (888)325-4717