New Millennium Bank Black Diamond Visa®/MasterCard® for Students

Review

The New Millennium Bank Black Diamond Visa®/MasterCard® is ideal for those with limited or poor credit who may be having a difficult time in obtaining a standard unsecured credit card. Unlike most secured credit cards, this card offers benefits such as auto rental insurance, up to $100,000 in travel accident insurance, an extended warranty for purchases, and a free companion air ticket, which is awarded to you after you have been approved for the card. These benefits do come with an annual fee of $59, which is slightly above average for a secured card, as well as a one-time processing fee of $149.95. The APR that is applied to purchases is above average for a secured card, but this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. It is important to note that there is no grace period for purchases, which means that interest will be applied immediately to any charges made with the card. However, if you are having difficulty in obtaining an unsecured card, this card does have a no credit check and a no turn-down policy.