Review - Imagine Gold MasterCard®

 A Credit card for people with bad credit

Please see website for the latest Terms and Conditions for this credit card before you apply.

Apply Online! Card Type Bad Credit or Poor Credit Introductory APR N/A Introductory Period N/A Intro Applies To None Purchase APR 19.75 % Cash Advance APR 25.75 %

Card Advantages: Reports to three credit bureaus; no security deposit required.

Card Disadvantages: Annual and monthly fees.

Introductory Offer Details: n/app

Imagine Gold MasterCard® Card Information

The Imagine Gold MasterCard®, issued by First Bank of Delaware, is a credit card designed for those with poor credit who would like to have their account reported to the major credit bureaus. The main benefit of this unsecured credit card is that it reports to three major credit bureaus. This is a rare opportunity for those with poor credit who would otherwise only qualify for secured or prepaid cards, which often do not report to credit bureaus or charge fees to report to credit bureaus. However, there are several fees in order to open and maintain this account. There is an annual fee of $150, and there is a $9.95 maintenance fee that will apply in each month in which the cardholder carries a principal balance after they use their card. It also charges a one-time processing fee of $4.95. This means that the total amount in fees that a cardholder can expect to pay in the first year will be $274.35, if the cardholder chooses to carry a balance on a monthly basis. This card does have an above average interest rate for purchases, and the rate for cash advances is high, but those cardholders who can pay their monthly balances in full will be able to avoid these high rates as well as the monthly maintenance fee while still taking advantage of this card. It is important to note that there are minimum caps for all transactions, so no matter how low the Prime Rate falls (the APRs are tied to the Prime Rate), the interest rates will not go below the minimum caps. Therefore, those who can pay their balances in full, do not mind paying the various fees, and would prefer an unsecured credit card may find the Imagine Gold MasterCard® to be beneficial.

*See website for Terms and Conditions

Imagine Gold MasterCard® Limits & Fees

Annual Fee $150 Application Fee $4.95 Participation Fee $119.40 ($9.95 monthly)*** Total First Year Fees $274.35 Late Payment Fee $35 Cash Advance Fee 5%, $5 minimum Balance Transfer Fee n/app Over Limit Fee $35 Grace Period 25 Days (Min.) Minimum Credit Limit $300 Maximum Credit Limit n/a

Note: The information on this page is believed to be accurate, however, some information may have changed since our last update. We remind you to carefully read the most current Terms and Conditions for this credit card before applying.