For people with a speckled credit history, sometimes having a low line credit card is the first step back towards credit repair. The First Bank of Delaware Tribute Mastercard Gold Card is a card that aims to help people out in restoring their credit, but that credit restoration comes at a hefty price.
Pros:
- Reports to credit bureaus
- Available for people with spotty credit scores
Cons:
- $222/year in fees
- $150 annual fee
- $6/month maintenance fee
- High minimum floor on APR
- APR tied to the highest rate in the trailing 90 day period
- Making the minimum monthly payment will never pay the card off
If you have a poor credit rating, you may be better off checking with your bank and conducting passbook savings loans from banks which report to credit bureaus, such as the Citizens~Union Savings Bank in Falls River, MA.
This card is an option if you are desperate to rebuild your credit and can afford the fees. The $150 annual fee is very stiff. Given low credit limits, the fees can represent potentially half of the available credit. This card scores a 1 out of 10.
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