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New Millennium Bank Secured Black Diamond Visa®/MasterCard® |
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Issued by New Millennium Bank
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View other Secured cards
View other cards issued by New Millennium Bank
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Encountering big brick walls in your search for an unsecured credit card? The New Millennium Bank Secured Black Diamond Visa®/MasterCard® is a bank issued secured credit card for people who are looking for a poor credit credit card. Although the APR rate for all transactions is high with this poor credit credit card, you'll have a Visa®/MasterCard® and access to additional cash when you need it the most. You won't have to undergo a credit check for this poor credit credit card and you'll get additional benefits that can save you some much needed dough.
Poor Credit Credit Card Details and Fees
Before you get the opportunity to build your credit up, which is what secured credit cards are all about, you'll have to agree to open up a savings account and deposit money into it to protect New Millennium Bank against any possible future defaults on your account. Your deposit (a minimum of $300) will be equal to your credit limit (which can be as much as $5,000). There's an annual membership fee of $59 and your account activity will be reported to the three major credit bureaus in order to give your poor credit history a boost.
Additional Benefits with Your Poor Credit Credit Card
Even though you'll have a secured credit card, you'll still get the added benefits that come from carrying a Visa®/MasterCard®. Your New Millennium Bank Secured Black Diamond Visa®/MasterCard® will get you auto rental insurance and up to $100,000 worth of travel accident insurance when you make your plans using the secured credit card. You'll also have access to emergency cash transfers and extended warranty protection for your warrantee covered purchases.
Is the New Millennium Bank Secured Black Diamond Visa®/MasterCard® the Card for You?
The New Millennium Bank Secured Black Diamond Visa®/MasterCard® is an option for people who are having a difficult time getting their hands and names on a traditional unsecured Visa®/MasterCard® because of their poor credit history. You won't have to go through a credit check and if you're not approved, there's a chance that you'll be refunded double the processing feet that you initially paid. But, because the funds in the savings account you'll agree to open will mirror your credit limit, you won't have a grace period – finance charges will apply immediately if your account goes into default.
That said, the New Millennium Bank Secured Black Diamond Visa®/MasterCard®, you'll get the benefits of a Visa®/MasterCard® and the opportunity to establish or build a more favorable credit history.
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| Updated: April-01-09 |
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| Most Attractive Feature(s): No credit check for new applicants; guaranteed approval; free companion ticket upon enrollment. |
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| Least Attractive Feature(s): No grace period; annual fee. |
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Access to the referral program to earn up to $50 per referral.
Up to $100,000 in travel accident insurance.
Emergency cash replacement.
Auto rental insurance.
Extended warranty for purchases.
Lost luggage reimbursement.
Personal identity theft assistance.
Hotel and motel burglary assistance.
Free companion airline ticket upon enrollment.
See website for additional benefits. |
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| Note: The review of this card was updated on April-01-09. The review is believed
to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully
read the Terms and Conditions statement that accompanies the Secured card application. |
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