New Millennium Bank Gold Visa/MasterCard

Approved Regardless of Credit History Credit Limits Up To $10,000 Reports to All 3 Bureaus Get Cash at Over 740,000 ATMs No Credit Check

New Millennium Bank Gold Visa/MasterCard Review

The New Millennium Bank Gold Visa/MasterCard, issued by New Millennium Bank, is designed for those with limited or poor credit who may be having a difficult time in obtaining a standard unsecured credit card.

Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases.

Although the APR that is applied to purchases is above average for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and a no turn-down policy.

There is an annual fee of $59, which is slightly above average for a secured card, as well as a one time processing fee of $69.95 ($99.95 if the applicant would like to be issued both a Visa and a MasterCard).

It is important to note that a major drawback to the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card.

Therefore, those who do not mind accumulating finance charges once a transaction is posted, can afford the $300 minimum deposit, and need to establish credit will benefit most from what the New Millennium Bank Gold Visa/MasterCard has to offer.