Credit Card Review: New Millennium Bank Gold Visa®/MasterCard®

Credit Card Reviews ~ Bad Credit Credit Cards

New Millennium Bank Gold Visa/MasterCard

The New Millennium Bank Gold Visa/MasterCard issued by New Millennium Bank, has been designed for those with less than adequate credit and may be having a difficult time acquiring a standard unsecured credit card.

Most often secured credit cards lack any additional perks and benefits, but this card does provide several other benefits such as extended warranties for purchases, various internet services, purchase protection, auto rental insurance, and up to $100,000 travel accidental insurance.

The New Millennium Bank Gold Visa/MasterCard carries an above average APR that is applied to purchases, and also applies interest to the deposit amount that is required to secure the account. This card requires a no-credit check and a no turndown policy. Cardholders will be charged an annual fee of $59 as well as a one-time processing fee of $69.95. For members that apply for both the Visa and the MasterCard will be charged $99.95.

One of the major drawbacks to the New Millennium Bank Gold Visa/MasterCard is that there is no grace period for purchases, which means that interest, will be applied directly to all charges made with the card. This card is a good option for consumers looking to build their credit and who do not object to posting a $300 minimum deposit.

Cardholder Benefit/s:

• Report transaction to the credit bureaus
• Get Cash at Over 740,000 ATMs
• Approved Regardless of Credit History
• Reports to All 3 Bureaus
• Credit Limits Up To $10,000
• No Credit Check
• Emergency cash replacement.
• Auto rental insurance.
• Extended warranty for purchases.

* 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 Gold 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 15, 2006