The New Millennium Bank Secured Platinum Visa/MasterCard, issued by New Millennium Bank

New Millennium Bank Secured Platinum Visa®/MasterCard®
issued by New Millennium Bank
Updated: April 1, 2009

*Terms and Conditions

Most Attractive Features for New Millennium Bank Secured Platinum Visa/MasterCard: No credit check for new applicants; guaranteed approval; free companion ticket upon enrollment; travel-related benefits.

Apply online
for this card or read on for a full review of all the features.

The New Millennium Bank Secured Platinum Visa®/MasterCard®, issued by New Millennium Bank, is designed for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card. Apply for the New Millennium Bank Secured Platinum Visa/MasterCard from New Millennium Bank.

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 cardholders upon approval. New Millennium Bank already offers the New Millennium Bank Secured Platinum Visa/MasterCard online.

The card offers a free membership to TheWorldsBestTravelClub.com, which offers discounts on a variety of travel services and provides cardholders with a $69 cash rebate on their first condo booking. The card also offers referral program that rewards cardholders with up to $50 per approved referral. Learn more about this New Millennium Bank Secured Platinum Visa/MasterCard here.

Although the APR applied to purchases is high 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 no turn-down policy. The New Millennium Bank Secured Platinum Visa/MasterCard is a good card.

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 drawback of 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 Secured Platinum Visa®/MasterCard® has to offer.

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