Saturday, September 30, 2006

New Millennium Bank Platinum Visa®/MasterCard®

Review

Are you with limited or poor credit and finding difficulty in obtaining a standard unsecured credit card, then there is good news for you. The New Millennium Bank Platinum Visa®/MasterCard®, issued by New Millennium Bank, is designed for you.

The main features of these cards are:

· Guaranteed Issue
· Complimentary online services for account management and payments
· No credit check
· Be approved regardless of income or credit history
· Reports to the three major credit bureaus

Apply Online.
The New Millennium Bank approve you for a secured Platinum Visa and a Platinum Master Card with a total credit limit of $10,000 (with both cards) in secured credit! You get the benefits of Platinum status: emergency cash transfers, free $150,000 accident insurance, free auto rental insurance, free extended warranty protection.

When they receive your processing fee you will be sent instructions by e-mail on how to redeem a "Free Companion Airfare". You can travel to most major US cities when you purchase one adult round trip airfare.

You will also be automatically enrolled in The World's Best Travel Club.com where you will receive discounts and low, low prices on all your travel needs!

Your credit line will be equal to and secured by your New Millennium Bank Savings account (Minimum deposit $300, Maximum deposit $5,000 per card).

When you make your first condo booking through the World's Best Travel Club, the club will send you a cash rebate of $69.00!

Applicants also have the chance to participate in a referral program that rewards cardholders with up to $50 per approved referral.

Generally you do not get any additional benefits with secured credit cards Platinum Visa®/MasterCard® provides you all the above additional benefits.

Generally the APR applied to purchases for a secured card is above average, the interest is applied on the deposit amount required to secure the account for this card. This is also a great benefit. As already stated this card also has a no credit check, and also a no turndown policy.


The applicant has to pay a one time processing fee of $99.75 ($129.95 if the applicant would like to be issued both a Visa® and a MasterCard®) and an annual fee of $59. The processing fee and annual fee are slightly above average for a secured card.


There is no grace period for purchases i.e. the interest will be applied immediately to any charges made with the card, which is a major drawback to the card.

Therefore, if you do not mind accumulating finance charges once a transaction is posted and can afford the $300 minimum deposit, then only apply for New Millennium Bank Platinum Visa®/MasterCard®.

Apply Online.
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