Is a Total Visa Card Easy to Get
Despite being designed for people looking to revamp their credit, the Total Visa turns out to exist a lackluster credit-building* tool
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Snapshot
2.4
Full Visa® Bill of fare
Recommended Credit Score
Bad to Fair (300 - 670)
Full Visa® Carte du jour Overview
Having a depression score can feel like existence stuck in a pit of your own making with no way to dig yourself out. You can't authorize for the best credit cards or personal loans, so yous have to settle for a credit card for bad credit—complete with burdensome involvement rates and fees.
The Total Visa card is not the best option in this category. Not but does the card come up with an interest rate that volition go along your debt piled upwards if you don't pay your balance in full every month, merely information technology charges you fees at every plough.
The Total Visa card should only be an selection for people with the worst credit who refuse to open up a secured card (though in that location are many excellent secured credit card options)—everyone else will find much meliorate terms elsewhere.
What are the advantages and disadvantages?
Pros
- This menu reports to all 3 credit bureaus, helping y'all to boost your credit score over time.
- There are no minimum credit requirements, making this card easier to acquire—especially for credit newbies who have limited credit histories.
Cons
- The fees are extraordinarily high, at that place are several less expensive options for building or rebuilding credit
- The card touts a high April, making carrying a balance very expensive.
- The card doesn't permit cardholders to make purchases overseas.
A deeper look at the current card offering
Quick highlights
- Rewards rate: Northward/A
- Welcome offering: North/A
- Annual fee: See Terms
- Buy intro April: N/A
- Remainder transfer intro April: N/A
- Regular APR:See Terms
Current welcome offering
As a credit card designed to help you rebuild* your credit, the Total Visa credit card is extremely bare-bones. It doesn't offer whatsoever kind of points or cash back for purchases, nor does it come with an introductory bonus for spending a certain amount during your first few months that y'all see with other credit cards. Recollect, rebuilding credit depends on factors like making on-time payments, keeping your credit utilization ratio depression and paying at least the minimum monthly payment.
The only type of intro offer you can expect from this card is a waived monthly servicing fee for your kickoff year. If yous choose to go with the Total Visa to help rebuild* your credit, you should work during those 12 months to build a credit strong plenty to qualify for a card that doesn't charge servicing fees in the first place.
Key cardholder perks
The Total Visa card has ane purpose and one purpose just—rebuilding* credit. Like nearly cards in its category, it doesn't have many benefits or features that arrive attractive to most people. Merely, for people with significantly damaged credit, it can even so help start the journey back to healthy credit.
If you lot're in that boat, you're probably eager to get started and wondering how long it takes to receive the Total Visa card. Later on y'all apply, you'll get a response inside 60 seconds. If you're approved, you'll go your card in the post and be able to use it once you pay the program fee and activate the card.
We don't wholeheartedly recommend the Total Visa to rebuild* credit, merely if you use it responsibly y'all'll be able to graduate to a better choice in no fourth dimension.
Unproblematic approval
There's very lilliputian take chances that you'll be denied for this credit bill of fare. It doesn't have a minimum credit requirement and is available in almost states, excluding New York and Wisconsin.
No security deposit
If yous're dead set against opening a secured credit menu, the Total Visa should at least become a glance from yous. You won't accept to offer any greenbacks to secure your credit limit—although the cash you'll pay to encompass the carte'southward fees volition add up chop-chop, taking away a lot of the do good from having an unsecured menu.
Reports to all iii major credit bureaus
While many cards only study to one or two credit bureaus, the Full Visa reports to all three. This helps you build* your credit at each 1 if you show consistent and responsible credit card use.
Rates and fees
A high interest rate and excessive fees plague the Total Visa card, making information technology difficult to recommend for fifty-fifty the worst situations.
To get started with the Total carte, you'll first pay a 1-fourth dimension plan fee of $89—and that'southward before your $75 almanac fee is placed on your card remainder. If you go along the bill of fare for longer than a year, the annual fee drops to $48, but you'll add an additional $6.25 monthly servicing fee (this is waived for the first year). The April for this card is 34.99 percent for purchases and 34.99 per centum for cash advances. While the cash advance fee is waived the first year, transactions volition toll yous the greater of $x or iii percent after that. You lot'll too pay an up to $40 fee for tardily or returned payments.
How the Total Visa bill of fare compares to other cards for bad credit
Beginning your credit-edifice journeying can be daunting. Finding the right credit-building tool is key to helping you boost your score (in addition to keeping upwards positive credit behaviors over time). The Full Visa leaves a lot to exist desired compared to other credit cards for bad credit. There are many other carte options—including both secured and unsecured credit cards—that are less expensive and more rewarding.
Full Visa® Carte
Apply at present
on Total Bill of fare'south secure site
Recommended credit
Bad to Fair(300 - 670)
OpenSky® Secured Visa® Credit Card
Recommended credit
No Credit History
Credit One Bank® Platinum Visa® for Rebuilding Credit
Annual fee
$75 for the first year. After that, $99 annually ($8.25 per month)
Recommended credit
Bad to Fair(300 - 670)
The Total Visa vs. The OpenSky® Secured Visa® Credit Carte du jour
Though yous'll have to shell out at to the lowest degree $200 for a security deposit, the OpenSky Secured Visa Credit Bill of fare is still significantly less expensive than the Total Visa credit menu. The annual fee is a much more straightforward $35 when compared to the Total Visa's multiple fees (there are other fees to be aware of like the three pct foreign transaction fee, 5 percent cash advance fee, $38 tardily payment fee and $25 returned payment fee, but responsible use of the OpekSky should aid you avert many of these). The OpenSky'southward xviii.14 pct variable APR makes much more sense for someone yet learning to manage their credit card responsibly while on their credit-building journeying. Similar most other cards for bad credit, the OpenSky doesn't offer significant perks or rewards, just it'due south a solid, inexpensive means of building credit. The OpenSky is the right selection for credit-builders looking to continue more than coin in their pockets.
The Total Visa vs. Credit One Bank® Platinum Visa® for Rebuilding Credit
The current APR for the Credit Ane Depository financial institution Platinum Visa for Rebuilding Credit* —while still a chip higher than the norm at 24.74 percent variable (though it is about average for this credit card category)—is much lower than the Total Visa's extremely high 34.99 percentage variable April. The almanac fee—$75 for the get-go year and $99 thereafter—might exist on the steep side, but cardholders tin at least recoup some costs past earning rewards. Credit 1 cardholders will earn 1 pct greenbacks back on eligible gas, grocery, mobile phone service, cablevision and internet service purchases—a feature lacking in virtually credit cards designed for people with bad credit.
Overall the Total Visa card is an interest-heavy menu lacking some of the features needed to arrive a solid credit-building option. Credit-builders will find more than value in the Credit Ane Bank Platinum Visa—at that place are fees Credit One cardholders should go along an eye on, just this carte is a much more cost-constructive option for people looking to build or rebuild* their credit.
Best cards to pair with the Total Visa card
If you're rebuilding* your credit, information technology's best to go along your finances simple. Instead of pairing multiple credit cards together, focus on using 1 card to boost your credit to a healthier place. In one case y'all've leveled up your credit, you can bandy out your Total Visa carte for one with a lower Apr and no annual fee or fifty-fifty a cards that earn all-time in class cash back rewards.
Bankrate's Take—Is the Total Visa menu worth it?
The Total Visa credit carte du jour is a poor pick for well-nigh people—fifty-fifty for people in the worst credit situations. This carte nickels and dimes its users by charging fees at every turn. On top of that, y'all'll confront a high Apr if you don't pay off your balance in full every month. You can find much improve rates and fees with the aforementioned benefits from other credit cards.
*Rebuilding credit depends on factors like making on-fourth dimension payments, keeping residuum below credit limit and paying at least the minimum monthly payment.
*The information virtually Credit One Banking concern® Platinum Visa® for Rebuilding Credit has been collected independently past Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Source: https://www.bankrate.com/finance/credit-cards/reviews/total-visa-unsecured-credit-card/#:~:text=A%20high%20interest%20rate%20and,placed%20on%20your%20card%20balance.
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