Credit cards for consumers with no credit or poor credit are becoming more and more popular. Consumers interested in the Visa Rewards 660 card must have a monthly income of at least $1,000. The starting credit limit is $300. The peak credit limit is $2,000. See section 3 regarding Credit Limit Increases in the Terms & Conditions for the updated information on a credit limit increase with the Rewards 660 Card.
The Visa Rewards 660 card has several benefits to cardholders who make on-time, minimum payments which are typically at least $40. The Rewards 660 reports to the major credit bureaus Equifax and TransUnion, which can be a big plus for individuals who have a small or no credit rating.
This card also offers the ability for people to obtain a credit card where they might not otherwise be eligible. It is difficult for a consumer with no credit score or a poor credit rating to be approved for credit, and the Visa Rewards 660 card makes that possible.
The Visa Rewards 660 card comes with a $48 annual fee, and a $15-per-month (180/yr) fee. There is a one-time account set-up fee of $97 and a one-time program fee of $90. These fees may help to ensure that customers are serious about taking on the responsibility of a credit card.
The regular APR for the Visa Rewards 660 card is a fixed 19.92%, which is a little high, but standard for credit cards for high-risk customers. There is a $39 late payment charge, and a $39 over-the-credit-limit fee. There is a grace period of the standard 25 days.
As with any credit card, there are a few drawbacks. First, of course, are the fees incurred. Although there will always be extraneous fees with a high-risk credit card.