Destiny Mastercard is an unsecured credit card from First Electronic Bank for those looking to establish or rebuild credit without a security deposit. The card can be used wherever Mastercard is accepted in the U.S.

The issuer reports account activity to all three major credit bureaus—Equifax, Experian, and TransUnion. Since this is an unsecured card, there is no refundable deposit required to set your credit line.

Instead, Destiny assigns your credit limit after its own review. Approval depends on income, existing debts, identity verification, and internal criteria, so approval is not guaranteed for all applicants.

The disclosed pricing includes a 35.9% APR for purchases and cash advances. The annual fee is $175 the first year, dropping to $49 for every year after.

There is a $0 monthly maintenance fee the first year, which increases to $12.50 per month after that. These fees reduce the available credit on your account from the start.

If you receive a $700 initial credit limit, Destiny says setup and maintenance fees would leave about $525 in available credit—meaning almost a quarter of your stated limit is consumed by fees before use.

Destiny may suit those needing unsecured credit when rebuilding payment history matters more than accessing low-cost borrowing. For people who value deposit-free credit, this card removes that hurdle.

Before you apply, compare the total yearly fees with what a secured credit card would cost for a similar credit line to see which option is more affordable overall.

Always check the latest APR, fee structure, and available credit disclosures directly on Destiny’s official site, as terms may be updated without notice.

Applications are submitted online at destinycard.com. Reviews factor in income, existing debts, identification, and internal standards. There’s no published minimum credit score and approval isn’t guaranteed.

Most approved applicants get their card within 14 business days according to the FAQ. Once received, activate your card, register online, and start using it. Balance transfers are not offered to new accounts currently.

The main advantage is access to a credit card without a deposit that reports activity to all major bureaus, helping build credit history.

If you cannot or prefer not to put up a security deposit, Destiny enables credit building while reporting to all three bureaus, which is essential for improving credit profiles.

However, the biggest disadvantage is the substantial fees and high APR, which can add significant ongoing costs if you carry a balance.

The combination of a hefty annual fee, monthly maintenance fees after year one, and the 35.9% APR make this card much more expensive than many secured options for sustained use.

If you have funds for a deposit, a secured credit card is nearly always a more cost-effective way to build credit.