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Destiny Mastercard®
REVIEW

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By : Mr Credit Card

  • Annual Fee = $59 or $75 for the first year, then $99
  • No monthly fee or one-time processing fee
  • APR = 24.9%
  • Starting credit limit = $300
  • Accepts applicants with discharged bankruptcy on credit report
  • Reports to three major credit bureaus


Pros Cons
Reasonable Annual Fee Credit limit of $300 does not increase
No Monthly Fee or one-time application fee No mobile app
No One-time application fee
No-fee payment methods


Destiny Credit Card: Low Cost and Unsecured

The Destiny Mastercard from Genesis Financial Services is an unsecured credit card that charges an annual fee between $59 and $99 and comes with a credit limit of $300. Unlike many of it's peers, it does not charge any monthly fee or one-time application. It is also one of the rare credit cards that allows you to use Moneygram to pay your bills. This will appeal to those of you without a checking account. Those who get approved tend to have a credit score of between 580 and 650, have at least a year's history of on-time payments, no delinquencies for the same period and have already a couple of cards under their belt. Destiny Mastercard allows you to go through a soft pull pre-approval process which does not impact your credt score. If you are not pre-approved, then you will save yourself hard inquiry. If you are pre-approved, you can then proceed to apply.

There are a few other cards that compete with Destiny. In this review, we will evaluate it against it's peers, especially those with similar fees. Read on to find out how it stacks up against them.


Requirements

  • Credit Score: 550 - 650
  • Not more than 2 hard inquiries during the last 6 months - this is a major reason why many folks get denied
  • On-time payments for at least one year
  • At least 2 existing trade lines - this can including student loans or auto loans
  • Income of at least $30,000
  • No tax liens


Pros Cons
Reasonable Annual Fee Credit limit of $300 does not increase
No Monthly Fee or one-time application fee No mobile app
No One-time application fee
No-fee payment methods
Approves those with Bankruptcies


Key Features, Fees and Rates

Annual Fee $59 or $75 for the first year, then $99
Monthly Maintenance Fee $0
One-Time Application Fee $0
Regular APR 24.9%*V
Foreign Transaction Fee 1%
Penalty APR 29.9%
Late Payment Up to $40


FeesThe Digital Mastercard has an annual fee between $59 and $99. This is very reasonable for a subprime credit card. They do not charge any monthly maintenance fees or one-time application fee. The regular APR is typical of a subprime card and we advise those who have this card to pay your bills in full every month rather than carry a balance.

Reports to ALL 3 Credit Bureaus - Destiny reports to all three major credit bureaus. That means that as long as you pay your bills on time and keep your utilization rate low, you will see improvements in your credit score over time.

Starting Credit Limit - Your starting credit limit is $300. You will also be billed your annual fee on the first billing statement. So it is best to pay it off so that you will have your full credit limit on the next cycle. If you choose to use the card during your first billing cycle, your credit limit will be ($300 - $59 = $241) $241.


Manage Account Online

While Destiny Mastercard does not have a mobile app, you can manage your account online at www.destiny.myfinanceservice.com/. You can pay your bills online and choose paperless statements as well. In fact, paying your bills online is free. Since, Destiny does not have a mobile app, there is no "account alerts" at the moment.

Destiny Online Account 1 Destiny Online Account 1


Mastercard Benefits

Card members will also get the following Mastercard benefits which is very useful:
  • Mastercard ID Theft Protection - This services monitors your vital information like email address, credit card numbers, social security numbers in the dark web to detect any possibility of it being stolen. TransUnion is also monitored for potential ID theft. If an ID theft is suspected, Mastercard will provide Resolution Services.

  • Zero Liability Protection - This is present in almost all credit cards. Essentially, you will not be held liable for any fraudulent charges to your credit card.

You can see the full Mastercard Benefits here.


Competition

Card Details
Destiny MastercardAnnual Fee=$59
Upfront Fee=N.A.
Monthly Fee = N.A.
APR = 24.9%
Initial Credit Line = $300
Mobile App = N.A.
Indigo MastercardAnnual Fee=$0, $35, $59 or $75 for first year then $99
Upfront Fee=N.A.
Monthly Fee = N.A.
APR = 24.9%
Initial Credit Line = $300
Mobile App = N.A.
Milestone MastercardAnnual Fee=$35 to $99
Upfront Fee=N.A.
Monthly Fee = N.A.
APR = 24.9%
Initial Credit Line = $300
Mobile App = N.A.
Merrick BankAnnual Fee = $0 - $72
Upfront Fee=N.A.
Monthly Fee=N.A.

APR=19.45% to 28.45%
Initial Credit Limit = $550 - $1,350
Mobile App=N.A.
Surge MastercardAnnual Fee = $75-$99 1st Year, then $99
Upfront Fee=N.A.
Monthly Fee = $0-$10/month
APR = 24.99% - 29.99%
Initial Credit Line = $300, $500, $750 or $1,000
Mobile App = Yes
Reflex MastercardAnnual Fee = $75-$99 1st Year, then $99
Upfront Fee=N.A.
Monthly Fee = $0-$10/month
APR = 24.99% - 29.99%
Initial Credit Line = $300, $500, $750 or $1,000
Mobile App = Yes


The two distinduishing features of the Destiny credit card is that they only charge an annual fee without any monthly maintenance fee and one-time processing fee, and that they will do a soft pull pre-approval process without any impact on your credit score. Hence, we will compare it cards with these two features.

Compared to other Genesis Financial Services cards

The Destiny credit card is one of three cards marketed by Genesis Financial Services. The other two cards are the Indigo credit card and the Milestone credit card. They have exact identical terms except for their annual fee. Just to recap, the annual fee for the Destiny Mastercard is either $59 or $75 for the first year, then $99. The Milestone credit cards also has that fee, but you could also get one with a $35 annual fee. Hence, it has an offer with a lower annual fee than the Destiny credit card. The Indigo credit card offers you the option of a card with no annual fee, $35, $59 or $75 for the first year then $99. So among the three cards, the Indigo credit card offers the chance of lower annual fee or a no annual fee version.

All of these cards allow you to go through a pre-approval process with just a soft pull and no impact on your credit score. If you are pre-approved, you will see your offer (and you will be most interested in what annual fee you will get) and can then proceed to apply if you are happy with your offer.

Other Competitors

There are a couple of other cards that have no monthly fee and has a soft pull pre-approval process. For example, the Merrick Bank Double Your Line Card. It has an annual fee between $0 and $72. However, it has a higher starting credit limit than Destiny ($550 to $1,350 vs just $300 for Destiny). Furthermore, after 7 months of paying your minimum payment on time, you credit limit will double to between $1,100 and $2,700.

Another interesting card to compare to is the Reflex credit card. The annual fee is between $75 and $99 and there is a monthly fee that ranges from $0 to $10 a month. The starting credit limit ranges from $300, $500, $750 and $1,000. Like the Merrick Bank, your credit limit will double after paying your minimium payments on time for the firt 6 months. That means you could get a card with just an annual fee with no monthly fee and a starting credit limit of up to $1,000 which will double to $2,000 after 6 months.

Both these cards (like Destiny) have a soft pull pre-approval process. However, they are both better in that they both have better starting credit limits which will increase after 6-7 months of paying your bills on time.

Mobile Apps and other features

It is important to note that Destiny does not have a mobile app so you have to manage your account online. Furthermore, it does not have features like Free credit scores (which some like Reflex Mastercard have).


Pros and Cons

Pros

  • Very Reasonable Annual Fee - The annual fee of $59 is very reasonable. Many subprime credit cards offer "range of annual fees". By having a fixed annual fee, you know upfront what the annual fee is going to be.

  • No Monthly Fee or Upfront Application Fee - Many other credit cards targeting folks like you with bad credit have monthly maintenance fees. Some even require an upfront application fee. and they play games with you by saying there is no monthly fee for the first year but only from the second year onwards. This card only has an annual fee and that's it.

  • Pre-Approval Soft Pull - Before you can apply for this card, you actually will have to go through a pre-approval process. This is only a soft pull so if you are not pre-approved, there is no hard pull on your credit report.

  • Manage Account Online 24/7 - You can manage your account online 24/7 from your online portal.

  • Free Online Payment - While many customers expect this, there are some cards that still charge for making online payments.

  • Prior Bankruptcy is OK - Those of you who have just emerged from BK might have a hard time getting approved for credit. Destiny will approve folks like you with prior BK on your credit report.

  • Cons

    • No Rewards - Most subprime credit cards do not have reward program. But increasingly, more ARE offering them. Cards from Credit One and even Discover's secured credit cards offer them.

    • No Credit Limit Increase - Destiny will not increase your credit limit. It is set at $300.

    • No Mobile App - Though you can manage your account online, there is no app for this card at the moment.

    • No Free Credit Scores - More of Digital Mastercard peers are providing some form of free credit scores. At the moment, Destiny Mastercard does not provide any free credit scores.


    Destiny Mastercard is perfect for those with bad to fair credit

    If you have bad credit or fair credit and want an unsecured credit card, I would recommend that you see if you can get pre-approved for the Destiny Mastercard. The reason is because all they charge is a reasonable annual fee of $59 to $99. Many subprime unsecured credit cards charge a monthly maintenance fee on top of an annual fee.

    Furthermore, the pre-approval process does not involve a hard pull (only a soft pull) so you have no hard pull risk unless you decided to proceed with the actual application once you get pre-approved. The APR is very typical of most subprime credit cards and if you get approved for this card, I would suggest that you pay your balance off in full every month.

    Destiny has explicitly stated that they will accept folks with prior bankruptcies so if you have emerged from a recent BK, you might want to give this card a shot. It is also an ideal card for those of you who started off with secured credit cards and want to get an unsecured credit card.

    If you have read this far, you will know that the Destiny Mastercard is not perfect. Your credit limit stays at $300 and does not increase. There is no mobile app and features like free FICO scores for cardholders. But as long as you use this card as it is intended to be used (ie to pay in full every month and rebuild your credit), this card will be more than adequate. If you are looking for a card with potential higher credit limit or want the potential of having a no annual fee card, you can also go through the pre-approval process for cards like Merrick Bank Double Your Line Visa and Indigo credit card at the same time. Since there is no impact on your credit score, you should try to get pre-approved for all three and choose the one that gives you the best offer.

    Here are a couple of comments that cardholders have emailed me:

    I applied for the Destiny credit card when my credit score was 600 and I had 2 old charged off accounts from 4 years ago. Prior to this card, I just had one secured credit card with a $600 credit line. There are a few details to mention about this card. Firstly, your annual fee gets charged the first month and taken out your initial $300 credit. The minimum payment is $40 a month. It takes about 4 days to process my payments from my checking account but once it clears, the money is immediately available as credit. There is no mobile app but I am fine with that. I just simply set up autopay from the online account. My score has improved again to 670 within 8 months. The goal is to get a couple of other cards with higher limit and then cancel this card before the next annual fee hits.


    My credit line was $300 when I first opened it in Febraury 2021. During my application process, they asked me to provide my utility bills and ID for proof of identification and address (which was not a big deal for me). They do not have an app so I simply manage my account online. I set up autopay via e-bill with my bank. Payment posts in about 4 days and credit becomes immediately available. My score was 557 when I applied and it is now 615 after 8 months. So I really love this card.


    To sum up, based on our review and evaluations of the Destiny credit card, we give it a 3.8 star out of 5 for it's reasonable annual fee, consistent credit bureau reporting and pre-approval process with no impact on credit scores. The $300 credit limit cap and lack of mobile app prevents us from giving this card a higher rating. This card will be suitable for most rebuilders either as a starter unsecured credit card and even if one has a bankruptcy record on your credit report. Those who already have a few unsecured credit cards or are looking for a large with a large limit should consider other cards instead as Destiny's $300 limit will increase.


    How To Apply Online?

    You can only apply online for this card. You first have to go through a pre-approval process. The pre-approval only involves a soft pull and has no impact on your credit score. If you are pre-approved, then you can go on to apply for the Destiny Mastercard (there will be a hard pull when you actually apply after you get pre-approved). It is important to be aware that a pre-approval does not guarantee approval when you actually apply (though the chances are pretty high that you do get approved if you already passed the pre-approval test).

    If you have gotten a pre-approved mail with an application code, then you can proceed straight to the application page.

    pre-qualification page pre-qualification page
    If you do not pre-qualify for the Destiny credit card, then you will be offer the Opensky Secured Visa Card (which is a secured credit card that does not check your credit). If you are inclined to take up this offer, we suggest that you read our review here first.
    pre-qualification page


    FREQUENTLY ASKED QUESTIONS

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    Who issues the Destiny Mastercard?

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    Who issues the Destiny Mastercard?

    Destiny is issued by First Electronic Bank, Member FDIC, which is based in Salt Lake City, UT. Genesis FS Card Services, Inc. is the servicer of this program.

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    Can I apply over the phone?

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    Can I apply over the phone?

    No, you have to apply online. You can click on the apply button on this page and take it from there.

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    Can you explain why I have to get pre-approved or pre-qualify?

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    Can you explain why I have to get pre-approved or pre-qualify?


    Milestone requires that you pre-qualify first. Pre-qualification does not result in a hard credit pull. Rather there is just a soft pull. If you do not pre-qualify or get pre-approved, you will save yourself a hard pull.

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    When will I receive my card?

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    When will I receive my card?

    Within 14 days after you are approved. If you do not receive your card within 21 days after being approved, please contact our Lost/Stolen Department immediately at 1-888-260-4532. They are available 24 hours, seven days a week.

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    What is the starting limit of Destiny?

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    What is the starting limit of Destiny?

    According to Milestone, $300 is the minimum credit limit.

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    Does Destiny increase credit limit?

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    Does Destiny increase credit limit?

    No, they do not.

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    Can I transfer a balance to Destiny credit card?

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    Can I transfer a balance to Destiny credit card?

    No, you cannot.

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    Can I use the Destiny Mastercard to get a cash advance?

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    Can I use the Destiny Mastercard to get a cash advance?

    Yes, subject to credit approval, you can use the Milestone card for cash advance. You can call and request a PIN number to use your card at ATMs.

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    Can I use the Destiny credit card abroad?

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    Can I use the Destiny credit card abroad?

    Yes, you can. But you have to inform us or your card may be declined. You can call us at 1-866-453-2636 to set up a travel alert.

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    What are the ways to pay Destiny Mastercard?

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    What are the ways to pay Destiny Mastercard?

    There are a few ways to pay your bills.
        Pay online
        Pay over the phone
        Pay through Moneygram
        Check or Money Order through the mail

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    Where should I send my Destiny Mastercard payments?

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    Where should I send my Destiny Mastercard payments?

    Payment address: Genesis FS Card Services | PO Box 23030 Columbus, GA | 31902-3030

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    What information do I need to use Moneygram to pay my bills?

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    What information do I need to use Moneygram to pay my bills?

    You have to go to the nearest Moneygram location. The Company name to use is Genesis FS Card Services and the Receive Code is 4911.

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    When will my online payment post to my account?

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    When will my online payment post to my account?

    It will post the same day as long you pay before 5pm PST. If you pay after 5pm PST, it will post the next day.

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    Will there be a hold after I make my payment?

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    Will there be a hold after I make my payment?

    You may experience a hold of up to 14 days if Destiny needs to verify your funds.


    Contact Information

    Genesis FS Card Services | PO Box 4477 Beaverton, OR | 97076-4477

    Toll-free customer service number: 1-844-222-5695

    FAX number: (888) 325-4717