New Millennium Bank Platinum Visa(R) / Mastercard(R) Review

The goal of the New Millennium Bank Platinum Visa/MasterCard credit card is to offer individuals with bad or no credit the opportunity to rebuild, or build, their credit. Not having credit makes life difficult and can affect an individual’s ability to get a job or rent an apartment, among other things. With the New Millennium Bank Platinum Visa/MasterCard individuals can begin rebuilding their credit and get their credit back on track.

Credit Check
All individuals are approved for this credit card and there is no credit check required. This is a relief to most applicants because credit checks are usually the beginning of a denial for credit because of a low credit score. Since there is no credit check there is nothing to worry about and there is no hit on your credit report, either.

Credit Limit
With this credit card cardholders may have a credit limit of up to $5,000 and a minimum limit of $300. The actual limit depends on how much money the cardholder is willing and capable of “pre-paying” in order to secure the card. The minimum is $300 but most cardholders will benefit from depositing at least five hundred dollars on this secured credit card.

Credit Reporting
The New Millennium Bank Platinum Visa/MasterCard offers cardholders the benefit of reporting to all three credit bureaus. This is important for those trying to rebuild their credit because the more credit bureaus that have updated credit information mean a higher score at each bureau. Nobody ever knows what credit bureaus’ score will be checked when an individual applies for credit so it is important for credit cards to report to all three bureaus. This is especially so for those with bad credit trying to increase their credit score.

APR
The New Millennium Bank Platinum Visa/MasterCard offers cardholders a competitive APR of 19.5%. This is a benefit to cardholders who carry a balance because APRs are frequently up to 10 points higher for those with damaged credit.

Annual Fee
The annual fee for this credit card is a very manageable $59. This is a very small price to pay for individuals looking to rebuild their credit. The fee is charged when your card is issued and then is automatically applied to your account every year.

Online Application
Those interested in improving their credit beginning today may apply for this credit card right now through the secure online application. In no time the card will arrive in the mail and be ready for use.