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2022 Destiny Card Review: Should You Apply for the Destiny™ Mastercard®?

The Destiny credit card is for those with less than perfect credit.

Deepti Nickam - Finance Writer
Written by
Finance Writer
Derek Sall - Personal Finance Expert
Reviewed by
Personal Finance Expert
10 min
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Table of contents:

Folks with good credit scores have tons of credit card options.

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But most money lenders can ghost you if you are:

  • One of the 28 million Americans who are credit invisible and have no prior credit history.
  • A part of 16% of Americans who have very poor credit.

Whoever you are, the solution is to set off on boosting your credit. And you can choose to do it with the Destiny™ Mastercard®. The Destiny Card gives you the convenience of an unsecured Mastercard, even with less-than-perfect credit. With reporting to all three major credit bureaus, the Destiny Mastercard can help you improve your credit history.

So, is Destiny a good credit card? We’ll answer that and much more in this article.

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A Brief Overview of Destiny™ Mastercard® for Less than Perfect Credit 

The Destiny™ Mastercard® is an unsecured credit card that can be a good fit for people with bad to fair credit scores. This credit card is issued by First Electronic Bank in Salt Lake City, and is a fully-functional Mastercard.

It allows you to boost and access credit by reporting your transaction history to all three major credit bureaus. You may receive a mailed invitation, or you can apply for this credit card here. Once you apply, you’ll be prompted to pre-qualify without impacting your credit score!

However, aside from these cool benefits, the Destiny Card features relatively higher interest rates and fees. This credit card has a $59–$99 annual fee and a 24.90% APR. The Destiny™ Mastercard® may also have a low credit limit of $300 and no current rewards programs. So, should you go for the Destiny Credit Card? Let’s find out.

Destiny Credit Card Review: Overall Card Rating

Category Features Rating
Credit Boost Less-than-perfect credit is okay, even with prior bankruptcy. 4/5
Unsecured Credit Card No security deposit is required. 4/5
Rewards Programs Lack of ongoing rewards or benefits program. However, it provides access to Mastercard benefits. 2/5
Credit Card Rates & Fees High annual fees and APR. However, relatively lower foreign transaction rate. 3/5
Customer Service Separate customer service and technical support helplines. Some customers experience delayed response. 3/5
Overall Credit Card Rating   3.2/5

7 Awesome Pros of Using the Destiny Card

Let’s look at the advantages of opting for the Destiny™ Mastercard®.

1. Low credit score requirement

According to Oliver Wyman’s Financial Inclusion and Access to Credit Report, 28 million Americans have no credit history. Plus, Experian’s 2021 Consumer Credit Review, 16% of Americans have bad credit.

You probably don't have perfect credit if you belong to any of these two categories. But that’s not a problem! The Destiny Card has low and lenient credit requirements. So, whether you’re a student looking to create a credit history from scratch or someone looking for ways to improve your credit, you can likely qualify for the Destiny™ Mastercard®.

This “second chance” at your credit score is available to people with less-than-perfect credit histories, including prior bankruptcy. Not sure what your credit score is? Click here to check your FICO credit score instantly.

2. Pre-qualify without impacting your credit score

With the Destiny Card, there’s no guesswork around whether you qualify for it. First, you’ll be prompted to pre-qualify. The pre-qualification process is quick and easy.

Now, we know what you’re thinking: Will this butcher your credit score? Good news—It won’t!

This pre-qualification only warrants a soft inquiry into your credit history and won’t hurt your credit score in the long run. 

Note for those of us who tend to freak out: Soft inquiries may or may not be recorded in your credit reports, depending on the credit bureau. But since these aren’t connected to a specific new credit application, they’re only visible when you view the credit reports.

3. Credit Bureau Reporting

Let’s get this straight. If you’re considering getting a credit card with high interest rates and fees, you’re here on one mission—improving your credit score. And the easiest way to do that is to pay your credit card bills on time and only ensure you have a low credit debt utilization rate.

Simple, right? Except, your discipline won’t positively impact your credit score if your card issuer doesn’t report your account to the national credit bureaus.

The bureaus create your credit reports that need to reflect your new credit card account. You don’t have to worry about this with the Destiny™ Mastercard®. This credit card gets reported to all three major bureaus—Experian, TransUnion, and Equifax.

4. No security deposit

The Destiny™ Mastercard® is an unsecured credit card that doesn’t require you to pay a security deposit. This can help you save on your initial investment to get a credit card. Usually, secured credit cards will need you to pay a security deposit equivalent to the card’s credit limit.

Secured card issuers return this security deposit when you close your card account. As an unsecured credit card, the Destiny™ Mastercard® doesn’t require you to provide a security deposit to get the card. If approved, your account will have a $300 credit limit.

These issuers can also keep some of your security deposit if you fail to pay your credit card balance. This places unsecured cards like the Destiny Credit Card in a favorable position.

5. Access Mastercard benefits

The Destiny Credit Card comes with Mastercard benefits at no additional charge. These benefits include:

  • Mastercard ID Theft Protection™—Includes thorough identity monitoring covering your social security number, debit cards, email addresses, credit cards, bank accounts, usernames, and passwords for web logins.

  • Zero Liability protection—Ensures you aren’t responsible for unauthorized transactions on your Mastercard.

  • Global accessibility—According to Nilson’s 2021 report, Visa and Mastercard merchant acceptance networks are the largest among the global card brands, with 80 million at the end of the third quarter of 2021. 

For more, read the Mastercard Guide to Benefits.

6. 24/7 account access

Your Destiny account will let you view your balance, transactions, statement, and schedule a payment 24 hours a day, throughout the year. This ensures you’re on top of your credit card finances.

7. Convenient autopay

According to the Bureau of Consumer Financial Protection, the share of consumers that enroll in automatic payments continues to grow. These trends aren’t surprising considering the benefits of autopay, including making on-time payments.

Thankfully, the Destiny Card gives you access to easy automatic payments, so you don’t have to worry about monthly deadlines.

3 Notable Cons of Using the Destiny Card

The Destiny™ Mastercard® has some obvious limitations you should consider before applying.

1. High APR and annual fees

The purchase APR on the Destiny Card is 24.9%. That’s quite a high interest rate. Why does it matter? The APR gets added to your purchases if you don’t pay off your account balance in full every month. This rate can quickly add to your credit card debt if not kept in check.

Besides the high APR, the Destiny Card also has a high annual fee, ranging from $59–$99. While this is an expensive fee, it can sometimes be a more affordable alternative to a high upfront security deposit. Note: These high interest rates and fees are expected as this credit card caters to lower credit scores.

2. Lack of a rewards or bonus program

The Destiny™ Mastercard® won’t make it on the list of the best rewards credit cards because it doesn’t offer any signing-up bonus or a rewards program. This is in line with most unsecured credit cards targeted towards people with bad credit history.

You can access cards with great offers once you achieve a good credit score.

3. Low credit limit

Typically, once you sign up for the Destiny Card, you’ll be given a low credit card limit of $300. Note that your credit score greatly depends on your credit utilization.

And with a credit limit this small, you run the risk of having a high credit utilization rate, negatively impacting your credit score.

Important Destiny Card Fees

Here’s a quick look at all the rates and fees to keep in mind when signing up for the Destiny Card.

Rates & Fees Percentage
Annual Fee $59–$99
Purchase APR 24.9%
Cash Advance APR 29.9%
Cash Advance Fee $0 during the first year. After the first year, either $5 or 5% of the amount of each transaction, whichever is greater (not to exceed $100)
Balance Transfer Fee N/A
Foreign Transaction Fee 1%
Late Payment Fee Up to $40
Returned Payment Fee Up to $40

6 Key FAQs on the Destiny™ Mastercard®

Let’s look at some commonly asked questions on the Destiny Card.

1. Who can apply for the Destiny Card?

The Destiny™ Mastercard® has straightforward requirements. To be pre-qualified or approved, you must:

  • Be at least 18 years of age (19 in AL), have a valid social security number, physical address, and a US IP address.

  • Not have Destiny credit cards that were charged off due to delinquency.

  • Meet additional credit qualification criteria, including a review of your income and your debt, and other identity verification requirements.

2. How do I pre-qualify for the Destiny Card?

You’ll simply need to submit a quick pre-qualification form. You’ll get the results within minutes.

3. Can this card help me fix a bad credit score?

Your payment history with the Destiny Credit Card is reported to all major credit bureaus. But that’s pretty much all a credit card can do to improve your credit. Your credit score ultimately depends on your money habits, including making on-time monthly payments and maintaining a low credit utilization rate.

Ben Waterman, COO & Co-Founder at Strabo, a global portfolio management tool, outlines more tips to fix bad credit. He says, “Firstly, look for errors in your credit score. The Federal Trade Commission found that almost 25% of people had errors on their credit reports. Next, set up autopay on bills that are paid using your card to avoid going unnecessarily overdrawn. And lastly, do not apply for credit unless you actually need it—hard credit checks can gradually reduce your score.

4. Can I transfer a balance to my Destiny Card?

The Destiny™ Mastercard® doesn’t currently offer a balance transfer option.

5. Can I use my Destiny Credit Card to get a cash advance?

You can use your Destiny Card for cash advances at many financial institutions. However, it’s subject to approval. Your cardholder agreement will have more details on cash advances.

6. Is the Destiny Credit Card legit?

The Destiny™ Mastercard® isn’t a scam. It’s a legit Genesis Mastercard that’s issued by First Electronic Bank. Does the Destiny™ Mastercard® sound like the perfect credit-boasting card for you? Apply now to get started on your journey to boost your credit!

Alternatives for the Destiny Card

If you’re looking for alternatives, check out these credit cards:

1. Indigo™ Mastercard®

The Indigo™ Mastercard® allows you to improvebad credit without requiring a security deposit. You can apply for this unsecured credit card with less-than-perfect credit.

The card, however, comes with high interest rates and fees. The ongoing APR is 24.90%, the annual fee is $75 for the first year, and $99 after that.

2. FIT™ Mastercard®

The FIT™ Mastercard® is designed for cardholders looking to rebuild or establish credit. One of its biggest advantages is its initial $400 credit limit. Cardholders may also be eligible for a credit limit increase after six months. However, this credit card can be expensive.

It comes with a 29.99% variable APR on purchases, and a $99 annual fee. The FIT™ Mastercard® also charges an $89 one-time processing fee, usually waived for the first year.

Is Destiny Credit Card Good for Me?

The Destiny™ Mastercard® can be a great choice if you’re looking to improve your credit score. You can save on the security deposit and avail the benefits of having your Destiny account being reported to the top credit bureaus.

However, you must be mindful of the high interest rates, fees, and the low Destiny™ Mastercard® credit limit.


See all

By. (2023, February 24). Credit Scores Steady as Consumer Debt Rises in 2022—Experian. https://www.experian.com/blogs/ask-experian/consumer-credit-review/

FINANCIAL INCLUSION AND ACCESS TO CREDIT. (2022). https://images.go.experian.com/Web/ExperianInformationSolutionsInc/%7B63ec9888-37ea-405c-b39d-7492de9143ce%7D_FINALExperian_report_14_01.pdf

FTC Issues Follow-Up Study on Credit Report Accuracy. (2015, January 21). Federal Trade Commission. https://www.ftc.gov/news-events/news/press-releases/2015/01/ftc-issues-follow-study-credit-report-accuracy

Nilson Report – Global Brand Card Acceptance Locations Exceed 100 Million. (n.d.). Retrieved March 17, 2023, from https://nilsonreport.com/mention/1514/1link/

The Consumer Credit Card Market. (2021). https://files.consumerfinance.gov/f/documents/cfpb_consumer-credit-card-market-report_2021.pdf

Editorial team

Meet the team
Deepti Nickam - Finance Writer

Finance Writer

Content writing and marketing professional with 4+ years of experience in the B2B and B2C sectors. Deepti has written about several subjects, including finance, project management, human resources, and more.

Kacper Kozicki - Editor


Editor, copywriter, and multilingual translator with expertise in producing tailored content for global online brands. When not editing articles for LifeAndMyFinances.com, he enjoys rummaging through paper dictionaries, walking in nature, and making travel plans.

Derek Sall - Personal Finance Expert

Personal Finance Expert

Derek has a Bachelor's degree in Finance and a Master's in Business. As a finance manager in the corporate world, he regularly identified and solved problems at the C-suite level. Today, Derek isn't interested in helping big companies. Instead, he's helping individuals win financially—one email, one article, one person at a time.

Lauren Bedford - Finance Writer

Finance Writer

Lauren is a published content writer who is passionate about helping and informing others through her content. In the last 5 years, Lauren has written about a range of subjects, including business, technology and finance.

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