Want to know if the Destiny Mastercard is worth putting in your wallet?
The short answer is: for most people, nope, it’s not.
Want to know if you’re one of the few it might benefit?
Keep reading.
Is the Destiny Credit Card Worth it?
If you don’t live near Destiny, USA, you probably can’t take advantage of many of it’s benefits, such as its store-specific discounts.
Plus, if you aren’t really into Destiny clothes, the card’s rewards probably won’t benefit you much.
And, if you plan to carry a balance on this card, it’s not worth it.
For a small few, this card may be worthwhile. So let’s dig a little further.
How Does the Destiny Credit Card Stack up to Other Cards?
Compared to other travel credit cards, the Destiny Credit Card has a higher interest rate and lower rewards. However, it’s also got a bigger sign-up bonus than other cards of its type.
Here are some pros and cons of the Destiny Credit Card compared to similar products on the market:
Pros:
- The annual fee is $400 less than the industry standard for this type of card.
- The sign-up bonus is much better than those offered by competing credit cards.
Cons:
- You can get better rewards with other cards on the market.
- This card’s APR is significantly higher than those of competitors’ products.
What Credit Rating Do You Need to Get Approved?
The only way to know your chance of approval is to apply, but according to the credit card itself, you’ll need a credit score of at least 650 to have a shot.
If your score falls within or below this range, we recommend looking for alternatives that don’t charge an annual fee, like the Citi® Secured Mastercard® or Barclaycard Ring® Mastercard®.
What’s the Average Destiny Credit Card Approval Limit?
Like any credit card, the higher your credit score, the better your chances of getting a high credit limit. On average, new applicants have an initial Destiny Credit Card approval limit of $2,000. But you may get a lower or higher amount depending on your specific financial history and other factors.
If you know your credit score before applying and it’s below 700, you’ll likely be offered a lower limit.
You can check for pre-qualification on Destiny Bank’s website to see what kind of offer you can expect with your current credit score.
If you’re not pre-qualified for as much as you hoped and want to increase your chances of a higher limit before applying, work on improving your credit score by paying down debt or raising your available credit through another card account (either open or authorized).
Card Details
The Destiny credit card is manageable, but it’s the sort of card that rewards you for playing your cards right — pun intended.
Here are the nitty gritty details:
- Minimum credit score to apply: 700
- Annual fee: $0
- Interest rates (APRs): 12.99% variable on purchases; 23.99% variable on cash advances
- Credit limit: Variable depending on income and expenses, but at least $1,000
- Rewards: 1 point per dollar spent; 3 points per dollar spent on Destiny brand items in-store or online at destinybrand.com; 5 points per dollar spent at grocery stores and gas stations; no limits on spending or earning (points never expire)
- Other offers: 0% APR for balance transfers for first 6 months after opening account; 10% discount on purchases in Destiny stores after spending $1000 in a single calendar year with this card
Card Benefits
The Destiny rewards program offers you a number of benefits:
- For every dollar you spend on purchases, earn ten reward points. These points can be redeemed for travel, gift cards, and merchandise.
- No annual fee.
- No foreign transaction fees.
- 0% interest on balance transfers for 12 months from account opening. After that, the variable APR will be 16.74% – 26.74%. The variable APR on cash advances is 26.49%.
- Up to $100 in statement credits per year toward airline fees such as baggage charges or in-flight food and drinks when you use your card to purchase an airline ticket directly from the airline. This benefit is capped at $100 per year; any unused amount does not roll over into the next year’s benefit period.*
- Travel accident insurance up to $500,000 when you pay for your airfare with your rewards card.*
- 24/7 customer service available by phone or online chat through US Bank’s website.*
- Auto rental collision damage waiver coverage if you reserve and pay for a rental car with your credit card.*
- Basic roadside dispatch (up to four calls per year) if you enroll in this program (there is a charge for individual calls).
Application Process
If you want to apply for the card, you can do so online or over the phone. The application process is not terribly complicated, but there are some things to keep in mind.
First, you will need to make sure that you have all of the documents necessary to prove your identity and establish good creditworthiness.
Second, if your application is rejected for any reason, don’t panic! You have some options:
- You may be able to correct minor issues with a simple call to customer service.
- You can wait six months and then reapply (but try not to hold off this long).
- You can talk with a loan officer at your local bank or credit union who may be able to find ways around whatever problem was holding up your approval.
A Recap of the Destiny Credit Card
If you have bad credit, and live near Destiny, the Destiny Credit Card might be a good choice.
This card offers a signup bonus of 5,000 points if you spend $500 within the first 3 months. That’s not quite as good as what some other cards offer (the Optimist Credit Card, for example, gives 10,000 points for the same level of spending), but it’s still a decent number.
The Destiny Visa Signature also offers 2x points on all purchases—not great but not terrible either. And it has no annual fee.
So, if you’re looking to get some rebates from your credit card without having to pay any money upfront, this might be worth it for you.