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New Millennium Bank Platinum MasterCard Review
The New Millennium Bank Platinum Visa®/MasterCard® , issued by New Millennium Bank, is perfect for those with poor or limited credit history who may be having a difficulty in getting a standard unsecured credit card.
Most of the time, secured credit cards do not have any additional benefits; however, this card does provide a number of benefits including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases. Perhaps the best benefit is the free companion airline ticket, which is awarded to the cardholder after they have been approved for the card. Applicants also have the chance to participate in a referral program that rewards cardholders with up to $50 per approved referral.
Even though the APR applied to purchases is above average for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and a no turn-down policy.
There is an annual fee of $59, which is slightly above average for a secured card, as well as a one time processing fee of $99.95 ($129.95 if the applicant would like to be issued both a Visa® and a MasterCard®).
It is important to note there is no grace period for purchases. Meaning, The interest will be applied imediately to an charges made with card.
Cardholder Benefit/s:
• No credit check for new applicants
• Guaranteed approval
• Access to the referral program to earn up to $50 per referral.
• Up to $100,000 in travel accident insurance
• Free Companion Airfare
• Free membership in www.TheWorldsBestTravelClub.com
• Auto rental insurance
• Reports to the 3 Major Credit Bureaus
* See website for additional benefits.
Therefore, those who do not mind accumulating finance charges once a transaction is posted and can afford the $300 minimum deposit will benefit most from what the New Millennium Bank Platinum Visa®/MasterCard® has to offer.
Note: We suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application since the information may have changed since the review is written.
Reviewed on December 8, 2006
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| About the Author
Liz Roberts is a freelance writer and loan consultant. The website BadCreditResources.com offers resources that specialize in providing loans and credit cards to people with bad credit. |