The Total Visa Card is a secured credit card designed for individuals who are looking to rebuild their credit or establish credit from scratch.
Offered by the The Bank of Missouri, the card is ideal for those with a less-than-perfect credit history.
With a straightforward application process and no hidden fees, the Total Visa Card provides a transparent way to improve your credit score over time.
As a secured card, it requires a deposit that acts as your credit limit, ensuring that both you and the card issuer are protected.
About The Bank of Missouri
The Bank of Missouri is a financial institution that offers a wide range of services, including credit cards, personal loans, and savings products.
With a focus on providing flexible financial solutions to people with varying credit backgrounds, The Bank of Missouri is known for its customer-friendly approach to banking.
By offering products like the Total Visa Card, the bank helps individuals take control of their financial futures and work toward improving their credit scores.
Who Is This Card For?
The Total Visa Card is a good fit for:
- Those Rebuilding Their Credit: If you’ve experienced financial difficulties in the past and need to rebuild your credit, this card can be a helpful tool to get back on track.
- Individuals with No Credit History: New to credit? The Total Visa Card can help you establish a credit history by reporting to the major credit bureaus.
- Consumers Who Want to Improve Their Credit Score: The Total Visa Card is specifically designed for people who are looking to increase their credit scores over time by demonstrating responsible credit use.
This card is ideal for anyone who is committed to building or improving their credit, even if their financial past is less than ideal.
Advantages of the Total Visa Card
The Total Visa Card offers several key benefits:
- Build or Rebuild Credit: The card helps you improve your credit score by reporting your payment history to the three major credit bureaus—Experian, Equifax, and TransUnion.
- Low Minimum Deposit: The required deposit to open the Total Visa Card account is relatively low compared to other secured credit cards, making it accessible for people with limited funds.
- Easy Application Process: The application process is straightforward, and you can apply online, receiving a decision quickly.
- Accepted Anywhere Visa is Accepted: The Total Visa Card can be used anywhere Visa is accepted, both online and in physical stores, making it a convenient option for daily purchases.
- Access to Credit Limit Increases: With responsible use, you may be eligible for a credit limit increase after some time, helping you improve your credit score faster.
Why Choose the Total Visa Card?
The Total Visa Card stands out due to its simplicity and accessibility. It’s specifically designed for individuals who are looking to rebuild their credit or those who have limited or no credit history.
With a low deposit requirement and the ability to use the card anywhere Visa is accepted, the Total Visa Card is a convenient option for people who are serious about improving their financial health.
Is This Card Right for You?
The Total Visa Card is a good choice if:
- You have poor or no credit and need a card to start building or rebuilding your credit.
- You are committed to making on-time payments and want to see your credit score improve over time.
- You want a secured card with a relatively low deposit requirement.
- You prefer a card with a straightforward, easy-to-understand fee structure and no hidden charges.
How to Use the Total Visa Card Effectively
To maximize the benefits of the Total Visa Card, consider the following tips:
- Make Payments on Time: Timely payments are essential for building your credit. Set up reminders or automatic payments to ensure you never miss a due date.
- Keep Your Credit Utilization Low: Avoid maxing out your credit limit. Try to use no more than 30% of your available credit to help improve your credit score.
- Monitor Your Account Regularly: Use the online portal to check your balance, track purchases, and stay on top of your credit limit.
- Use the Card for Everyday Purchases: Make small, regular purchases that you can pay off in full each month. This helps establish a positive credit history.
Fees and charges
Late Payment Fee: Up to $41.00 ;
Returned Payment Fee: Up to $41.00 ;
● APR: 35.99% ;
● Cash Advance: First year: $0. After: $10 or 3% per cash advance.
Expert review
The Total Visa Card is a reliable option for individuals looking to establish or rebuild their credit.
It offers easy approval, making it accessible to those with poor or limited credit history.
The card comes with a manageable credit limit, and reports to all three major credit bureaus, which helps users build a positive credit history over time.
However, it comes with a high annual fee and relatively high interest rates, which may make it less attractive for those who tend to carry balances.
Additionally, there are no rewards or perks, limiting its overall value compared to other cards in the same category.
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+Positive points
- Easy approval: The Total Visa Card is accessible to individuals with limited or poor credit history, offering an easy approval process.
- Reports to all major credit bureaus: Helps users build or improve their credit history by reporting to all three major credit bureaus.
- No security deposit required: Unlike secured cards, it doesn't require a deposit, making it more accessible to a wider audience.
- Credit limit increase opportunities: Users may qualify for credit limit increases with responsible use over time.
- Accessible to a broad range of applicants: The card is designed for individuals with less-than-perfect credit, providing a stepping stone for improving credit.
- Negative points
- High annual fee: The card has a relatively high annual fee, which may not make it the most cost-effective option for those on a tight budget.
- High interest rates: The interest rates on the Total Visa Card are higher compared to other credit cards, which may be costly for users who carry balances.
- No rewards or perks: The card does not offer any rewards, cashback, or additional benefits, limiting its overall value.
