New Millennium Bank Gold Visa® / MasterCard® for Students

Review

The New Millennium Bank Gold Visa® / MasterCard® is designed 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, and an extended warranty for purchases. 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 $69.95. 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.