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New Millennium Bank Secured Gold Visa® / MasterCard®
This credit card is Issued by New Millennium Bank.
This card received a rating of 2.50 out of 5.00 |
| Basic Credit Card Information |
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| Introductory Rate: |
No Introductory Rate Available |
| Time Period: |
n/a |
| Rate Applied To: |
None |
| Additional Details: |
n/app |
| Regular APR: |
19.5% |
| Variable or Fixed: |
Fixed |
| Annual Fee: |
$59 |
| Annual Fee Details: |
None |
| Application Fee: |
$69.95*** |
| Participation Fee: |
$0 |
| Reload Fee: |
n/app |
| Inactive Fee: |
n/app |
| Total First Year Fees: |
$128.95 |
| Type Of Rewards: |
n/app |
| Be sure to read the card's Data before applying! |
| Credit Card Review |
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The New Millennium Bank Secured Gold Visa® / MasterCard®, issued by New Millennium Bank, is designed for those with limited or poor credit who may have difficulty 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 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 drawback of 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 and can afford the $300 minimum deposit will benefit most from what the New Millennium Bank Secured Gold Visa® / MasterCard® has to offer.
This review was updated 2008-06-10T00:00:00.0000000-07:00
| Reward Program Information |
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| Type Of Rewards: |
n/app |
| Reward Program Optional: |
n/app |
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Optional programs may have a fee. See Data for details. |
| For Cards with Cash Back Incentives |
| Lowest Possible Rebate: |
n/app |
| Highest Possible Rebate: |
n/app |
| Additional Rebates: |
n/app |
| Rebate Details: |
n/app |
| For Cards with Point Incentives |
| Points Per Dollar Spent: |
n/app |
| Additional Points: |
n/app |
| Point Details: |
n/app |
| For Cards with Airline Incentives |
| Miles Per Dollar Spent: |
n/app |
| Additional Miles: |
n/app |
| Program Details: |
n/app |
Rewards Expiration Period: n/app
Annual Limit: n/app
| Additional Credit Card Perks |
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Up to $100,000 in travel accident insurance.
Emergency cash replacement.
Auto rental insurance.
Extended warranty for purchases.
See website for additional benefits.
Special Notations about the New Millennium Bank Secured Gold Visa® / MasterCard®
No credit check or turndowns.
Reports to all three major credit bureaus.
No employment verifications.
**The maximum credit and deposit limits of $10,000 are based on the applicant's approval for both the Visa® and the MasterCard®, otherwise the maximum credit and deposit limits are $5,000 per card.
***The application fee is $69.95 for a Visa® or a MasterCard® account; the fee is $99.95 for both a Visa® and a MasterCard® account.
See website for complete terms and conditions of card usage and application disclosure.
Always read the credit card's Data before applying!
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