It can be difficult getting a financial company to trust in you when you have a blemish on your credit. Bad credit is certainly a challenging situation, but it’s not the end of the world. Some lenders are willing to offer people a second chance to prove themselves trustworthy with credit. If you are having a difficult time obtaining credit because of financial challenges bad credit, then you may want to look into applying for the Total Visa unsecured card. It just may be the credit card that saves your life and breathes some air back into your credit profile.
Total Visa Credit Card
In today’s world, we live on credit. We are judged on our ability to get into and out of debt. Without a credit rating, it sometimes feels like you do not exist. But there is good news out there for folks like you with bad credit. In a world were spending has decreased slowly since the stock market crash in 2008, many credit card companies are relaxing their lending restrictions in an effort to boost sales and trickling economy. That’s is where you the person with bad credit comes in. I am sure you have had notices in the mailbox enticing you into a credit card, or unsolicited calls. With the bad credit, you are always put off from applying, but you should not be. Many companies are willing to help you get back on your feet and build a credit rating. With a total visa card, you too can build up credit and have access to the things you need. Here is everything you need to know about the total visa card.
About the Total Visa Card
The total visa card is unsecured credit card given out by a bank who specialize in giving credit cards to customers with bad credit. The card is issued by Mid America Bank and has a long-established relationship with customers suffering from bad credit. The cards purpose is to offer those with bad credit a new beginning and the gift of responsibility. The card starts out with a low limit but its not about how much you owe, it is about how you use and payback the credit allowed to you. If you can prove that you have the financial means and willpower to pay the card on time, then you are more likely to be granted a higher credit limit. The less rolling debt you have, the higher your credit rating will be. The company describes the Total Visa unsecured card as a tool for people who have past credit issues. Such people can use the card to get back on their feet and be regular credit holders.
Who Qualifies for the Total Visa Card?
The company is pretty lenient about who it approves for this card. As previously mentioned, people who have credit score challenges can still obtain a Total Visa. A person who has a 560 FICO score can obtain a card, for example. The individual has to be at least 18 years of age and be a United States resident.
Benefits of the Card
The main benefit of the card is that it provides hope to people who believe that they can get no credit unsecured. The card company makes it possible for such people to see an approval even during their darkest hours. In these days and times, it’s necessary to have a credit card because it can affect a person’s credit score tremendously. Having one can make a huge difference when it comes to obtaining approvals for homes or cars.
- You don’t have to worry about the card being refused as it is a visa so they are accepted almost anywhere.
- The company will start you off with a low limit that way you can get the hang of your new responsibility.
- The card is unsecured which means you do not have to have collateral and if you ever go bankrupt the “creditor” will be last on the list to get paid if they do get paid at all.
- The consumer has a little bit of a credit line to work with if things get challenging. Thousands of merchants accept the Total Visa card just like they accept other cards of its kind.
- There is no rewards program, no introductory annual percentage rate, and the card comes with a very high-interest rate to deter overspending.
The fact that the card doesn’t have any of the bells and whistles that other companies offer should not deter you from the purchase because you are doing something that is for the benefit of your future and not to save a few dollars on gas.
Challenges of this Card
Some challenges do exist with this card, as well. One of the most challenging aspects of this card is the processing fee. Before a new person can receive his or her card, that person has to pay a processing fee of $89.00. The card also has an annual fee of $75 that goes down to $48 after the first year. That’s a positive deduction in the annual fee. However, the card picks up a hefty monthly maintenance fee after the first year, and that fee ends up costing the customer $75. Some people see it as an excessive cost, but it’s sometimes the only option for people who have financial challenges bad credit.
How Consumers Rate the Total Visa
Consumers have a variety of opinions about this card. Some people see it as a Godsend because they had no other way to obtain the credit they needed to get back into the credit scene. Other people see it as a bit of a burden because of all the fees. The thing to remember is that a consumer can always apply for different cards once he or she reestablishes creditworthiness. Consumers on sites like Credit Karma gave the card a rating of 2.5 overall. The people who loved it loved it for its credit repair tool aspects. The people who disliked it felt that the fees were too high.
How to Get a Total Visa Card
Anyone who is interested in getting a total Visa can apply for one today. The application process takes only a few minutes. To get a card, the individual can visit the website and provide just a little bit of information to see if that person is suitable for the card. If the company approves the person’s request, it will want the individual to pay the processing fee to continue the application. Once the processing fee is paid, the card company will send the new card to the consumer. That person can start the new credit journey from that moment forward. The Total Visa card is meant to be a tool or a stepping stone into a better situation with a credit card. Anyone who has challenging credit could use it to climb back into the world of credit. The application takes less than five minutes, and hardly anyone gets rejected from the card. It’s perfect for those who think they can get no credit unsecured.
Who Qualifies for The Total Visa Card
When determining who qualifies for the Total Visa Card several factors are considered. The persons’ age, credit score, and immigration status are taken into consideration, as well as the ability to pay back the debt and the customers’ debt ratio is considered. A debt ratio is an amount of money you owe versus how much of an income you have. Ideally, you should have a debt ratio of less than 30% but this is not the only factor. After filling out an application for the card and paying a fee if applicable those Who Qualifies for the Total Visa Card will be free to use it, and will be happy in the knowledge that their credit usage will be reported to all three major credit bureau. Almost anyone can be accepted when applying for this card, but you must have a fico credit score of over 500.
Facts About Total Visa Credit Card
- The card costs $89 to activate, it has an interest rate that starts at 29.99% and it costs $75 dollars for the first year of service to be a member.
- Further facts about total visa credit card are that you must pay a monthly service fee of $6.75 and you are charged $38 dollars if you are late on a payment.
- This is not an average credit card, and the fees are quite high, but that is the price you have to pay to achieve a long-term goal of a high credit rating.
- This card has a lot of fees so be mindful of your spending and make sure you pay your bill on time. This is a high fee, low limit card, but it may be your best shot at building your credit rating.
Credit is something that is hard to build and easy to lose, but with the help of total visa, you too can have the dream of homeownership or a new car without high-interest rates and the fear of being rejected. Credit is more important than people give it credit for (pun intended) and without it, it is hard to live in today’s society. If you have bad credit, then consider buying a total visa card to help you on your journey to financial freedom. Remember to always do your research and read all of the legal documents as well as, terms and conditions of the card usage before you sign up for the total visa card.