Destiny Mastercard

elboullee · ‎07-27-2023

I usually put most unsolicited "pre-approved" credit card offers I get in the mail straight into the trash, but occasionally one will catch my eye for one reason or another and I open it.

Today I got one from Destiny Mastercard. Never heard of this company so out of morbid curiosity I opened it and, in 20-point type, saw that I had been Absolutely! Pre-Approved! Gurranteed! to reiceve a minimum $1000 CL!

I then turned the pamphelt over and read the terms:

- 36% APR - how in the holy f is that even legal?

- $175 AF for the first year, $50/year after that.

- $12.50/month manitnence fee.

Presumably they did a soft pull before sending this out and could see that my FICOs were all mid-700s, that I have no lates or other negatives, and that I already have "regular" Chase, Discover, and C1 cards. Why would they waste the paper and postage even sending this to me?

Moreover, who would ever agree to any of that nonsese? There are much better sub-subprime cards out there from Credit One, Mission Lane, etc. with far less onerous terms.

I can't imagine why anyone, regardless of their situation, would ever agree to something like this. Talk about predatory.

ptatohed · ‎07-28-2023

Looks like a rebuilder card.

https://www.destinycard.com/home

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi CUSTOM CASH “C” // citi ThankYou (5% gas, lucrative spending offers) // mylowe’s Rewards // Target circle card

Rotating 5% CB:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

Anonymous · ‎07-30-2023

Presumably they did a soft pull before sending this out and could see that my FICOs were all mid-700s, that I have no lates or other negatives, and that I already have "regular" Chase, Discover, and C1 cards. Why would they waste the paper and postage even sending this to me?

For the same reason you get all the other junk mail. More efficient to just flood the internet with sucker offers than actually do the research. Don't flatter yourself and think they specifically picked you. That's dangerous. Assume in this day and age that any offer you get is a ripoff unless you can prove otherwise.

SUPERSQUID · ‎07-30-2023

@elboullee wrote:
I usually put most unsolicited "pre-approved" credit card offers I get in the mail straight into the trash, but occasionally one will catch my eye for one reason or another and I open it.

Today I got one from Destiny Mastercard. Never heard of this company so out of morbid curiosity I opened it and, in 20-point type, saw that I had been Absolutely! Pre-Approved! Gurranteed! to reiceve a minimum $1000 CL!

I then turned the pamphelt over and read the terms:

- 36% APR - how in the holy f is that even legal?
- $175 AF for the first year, $50/year after that.
- $12.50/month manitnence fee.

Presumably they did a soft pull before sending this out and could see that my FICOs were all mid-700s, that I have no lates or other negatives, and that I already have "regular" Chase, Discover, and C1 cards. Why would they waste the paper and postage even sending this to me?

Moreover, who would ever agree to any of that nonsese? There are much better sub-subprime cards out there from Credit One, Mission Lane, etc. with far less onerous terms.

I can't imagine why anyone, regardless of their situation, would ever agree to something like this. Talk about predatory.

Unfortunately for some people rebuilding they have to start somewhere. I was in that boat 3 years ago after my bk7. I had 1 card with 35 pct int and that was back when rates were low.

medwar1 · ‎08-04-2024

I agreed to it. I need car repairs done and I had been receiving these orders for over a year but this time, they said that once approved, I could use the card right away.