This is another post in our series of credit cards targeted towards people with bad credit (you can view more in this series at the end of the post). I don’t want to give this card any additional power in the search engines by linking to it, but in today’s review we will be looking at the Total Visa Credit card.
Contents
Card Basics
- If you’re approved you will pay an $89 processing fee
- Annual fee is $75 first year and then $48 annually year two onwards
- Monthly servicing fee of $6.25 per month (waived first year)
- Initial credit limit of $300
- Visa card
- No rewards program
- $29 fee for an additional cardholder
- 29.99% APR
- Card issued by Mid America Bank & Trust Company
Our Verdict
It’s difficult to describe how awful this card really is, but let’s break down the fees you’ll be charge:
- Year one total: $164
- $89 processing fee
- $75 annual fee
- Year two onwards total: $123
- $75 in monthly maintenance fees
- $48 annual fee
Keep in mind the credit limit is $300, so in the first year you’re paying more than 50% of the credit limit in fees. Don’t forget that the interest rate on this card is also 29.99%. Obviously this card is designed for people with bad credit that want to rebuild your credit and if you’re in this situation it’s really important to know that you do have options and they are much better (and much cheaper) than cards like this.
For example:
- Discover offers a fantastic secured credit card. You do need to put down a security deposit, but it can unsecure only after 7 months (meaning you get the deposit back). The card also has no annual fees to worry about (or application or maintenance fees) and has a generous rewards program.
- Check to see if you’re pre-approved for other cards. Sometimes you’ll be surprised by what cards you’re actually eligible for.
- You can use the shopping cart trick to get a store credit card with no credit check. These store cards normally don’t have any annual fees.
- We’ve provided a list of credit cards that are easy to get without these large fees.
I know this isn’t the type of content that most regular readers are interested in reading, but my hope is that people considering this card will read this review first and know that there are better options out there. You can view other posts in this series below:
- A New Contender For The Worst Credit Card: Verve Credit Card Review
- Surge Card By Celtic Bank Review – Taking Terrible Credit Card To A New Level
- The Worst Credit Card That Exists
- Matrix Mastercard Review – This Card Is Terrible
- Milestone Gold Credit Card Review – An Honest Review Of A Bad Card
- Reflex Credit Card Review – Avoid At All Costs
