Credit Card: New Millennium Bank Platinum Visa®/MasterCard®
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Issued by New Millennium Bank Categories: Secured
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The New Millennium Bank Platinum Visa®/MasterCard®, issued by New Millennium Bank, is designed for those with limited or poor credit who may be having a difficult time in obtaining a standard unsecured credit card. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases. Perhaps the best benefit is the free companion airline ticket, which is awarded to the cardholder after they have been approved for the card. The card provides cardholders with a free membership to TheWorldsBestTravelClub.com, which offers discounts on a variety of travel services and provides the cardholder with a $69 cash rebate on their first condo booking. Applicants also have the chance to participate in a referral program that rewards cardholders with up to $50 per approved referral. Although the APR applied to purchases is above average for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and a no turn-down policy. There is an annual fee of $59, which is slightly above average for a secured card, as well as a one time processing fee of $99.95 ($129.95 if the applicant would like to be issued both a Visa® and a MasterCard®). It is important to note that a major drawback to the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. 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 Platinum Visa®/MasterCard® has to offer.
Most Attractive Feature(s): No credit check for new applicants; guaranteed approval; free companion ticket upon enrollment; travel-related benefits.
Least Attractive Feature(s): No grace period; annual fee.
Additional Perks
Access to the referral program to earn up to $50 per referral.
Up to $100,000 in travel accident insurance.
Emergency cash replacement.
Auto rental insurance.
Extended warranty for purchases.
Free companion airline ticket upon enrollment.
Free membership in www.TheWorldsBestTravelClub.com, which offers cardholders a $69 cash rebate on their first condo booking.
See website for additional benefits.
Rates & Fees
- Introductory Rate: No Introductory Rate Available
- Introductory Rate Details:
- Grace Period: None
- Applied Towards: None
- APR (Purchases) %: 19.5
- APR (Cash Advances) %: 19.5
- Finance Configuration: Average Daily Balance (including new purchases)
- Annual Fee: $59
- Additional Cardholders: $12.95
- Application Fee:
- Minimum Credit Limit: $300
- Maximum Credit Limit: $5,000**
- Late Payment Fee: $20
- Over-The-Limit Fee: $20
- Cash Advance Fee: 2%, $1 minimum, $20 maximum
- Balance Transfer Fee:
- Important Notations: No credit check or turndowns.Reports to all three major credit bureaus.No employment verifications.The card is not available to residents of Puerto Rico, Guam and Canada.**The maximum credit and deposit limits of $10,000 are based on the applicant's approval for both the Visa® and the MasterCard®, otherwise the maximum credit and deposit limits are $5,000 per card.***Application fee is $99.95 for either a Visa® or MasterCard® account OR $129.95 for both a Visa® and a MasterCard® account.See website for complete terms and conditions of card usage and application disclosure.
* See the online credit card applications for details about Terms and Conditions of offer.
Note: The credit card information is believed to be accurate during the update. However, all information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions Statement that accompanies the credit card application. When you click on the " Apply " button you can review the credit card Terms and Conditions on the credit card issuer's web site.
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| APR (Purch) % |
APR (Cach) % |
Annual Fee |
Intro APR |
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Not Available |
$125** |
No Introductory Rate Available |
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| APR (Purch) % |
APR (Cach) % |
Annual Fee |
Intro APR |
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$95** |
No Introductory Rate Available |
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- Get Your Application Results in Seconds
- Monthly Reporting to the Major Credit Bureaus
- Free Online Access
- Excellent Online Tools for Managing Your Finances
- Semi-Annual Credit Limit Increases
- No Minimum Monthly Income Requirements*
- Unsecured MasterCard Accepted at Millions of Locations Worldwide
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| APR (Purch) % |
APR (Cach) % |
Annual Fee |
Intro APR |
| 19.92 |
19.92 |
$50 |
No Introductory Rate Available |
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