If you have low or limited credit, look into the Total Visa® Credit Card — an unsecured card that reports to three major credit bureaus.
Having fair to poor credit can put a wrench in anyone’s plans. It can make it difficult to enjoy life to the fullest, but it also affects your ability to pay for the expenses that come with renting a home or buying a car.
The Total Visa® Credit Card is not only a solid way to have a little money available for emergencies or other unforeseen expenses, but it also reports to all credit reporting agencies. Just be aware of terms and conditions that come with this card to avoid tripping up on annual fees and high interest rates.
An alternative card for building credit: Credit One Bank® Unsecured Platinum Visa®
- APR for purchases (purchase rate). 29.99%
- Processing fee. $89 (one-time fee)
- Annual fee. $75 the first year; $48 each year after
- Monthly servicing fee. $0 the first year; $6.25 a month (or $75 a year) after
- Cash advance rate. 29.99%
- Cash advance fee. $5 or 5% of the amount, whichever is greater
- Card type. Full-feature, unsecured
- Maximum credit limit. $300
- Late payment fee. $37 ($15 for Iowa residents)
- Returned payment fee. $37 ($15 for Iowa residents)
- Minimum interest. 5%
What are the benefits of the Total Visa® Credit Card?
Easy approval makes the Total Visa® Credit Card ideal for young people looking for an unsecured card that regularly reports to all three major credit bureaus. Other benefits include:
- High likelihood of approval. The card is available to people with limited or poor credit.
- Simple application. Complete the online form to find out if you’re approved in seconds.
- Difficult to overspend. With a credit limit of $300, you can take care with your credit.
- Full-feature card. Use it anywhere in the United States that accepts Visa.
Too good to be true?
It’s easier to qualify for it, but the Total Visa® Credit Card is not without its drawbacks. If you do not pay off your purchases or cash advances immediately, you could end up accruing large amounts of interest.
- High interest rates. With a purchase and cash advance rate of 29.99%, you’ll want to fully pay off debt as quickly as possible.
- High processing fee. On approval, prepare to pay an $89 processing fee before you can begin using your card.
- Monthly servicing fee. While your monthly fees are waived in the first year, you’ll pay $6.25 every month thereafter (or $75 a year).
- Low credit limit. An initial credit limit of $300 won’t send you on that dream vacation, and you can’t request an increase until you’ve had the card for six billing cycles.
- Annual fees. Cardholders pay a high annual fee of $75 for the first year and $48 a year from then on.
Compare cards for low credit
Am I eligible? Tips to get approved
There’s no sense in wasting time applying for a credit card that you are not likely to get. With honesty about your income and other debts when applying, you stand a good chance of being approved for the Total Visa® Credit Card. Just make sure that you have a checking account first.
To apply for the Total Visa® Credit Card:
- Visit the Total Visa® Credit Card site.
- Enter your name and contact information, answer whether you have a checking account and click “Continue.”
- Enter your date of birth, Social Security number, employer’s name and phone number, and monthly income and expenses. Indicate whether you have a prepaid credit card, a savings account or a debit or credit card, and then answer questions about past due credit card accounts, whether you intend to use the card for cash advances and if you want to add a cardholder. Click “Continue.”
- Read and click that you accept the terms of conditions. Select whether you prefer electronic billing or a mailed bill, and then “Click here to sign and submit.”
- Wait 60 seconds to see if you are approved.
I got the card. Now what?
Before you start spending, there are a few things you should know.
- Carefully note your balance. To avoid overlimit charges, stay within your $300 limit.
- Escape high interest payments. Purchases begin accruing 29.99% interest 21 days after they are made, so pay them off as soon as you can.
- Avoid cash advances. Immediately after paying the greater of $5 or 5% of your cash advance amount, your full amount will begin accruing interest at 29.99%. It’s best to avoid cash advances altogether.
If you’re looking for an unsecured card that reports to all three credit reporting bureaus, the Total Visa® Credit Card could be for you. But consider the annual and monthly fees, which will leave you paying $123 a year for a card with a 29.99% APR.