There are tons of credit cards out there – but not many options for folks with poor credit, or no credit at all. There are a couple options, though – one of which is the Total Visa. Keep reading for our Total Visa Unsecured Credit Card review.
Total Visa Unsecured Credit Card Review – Basics
- For people with low/no credit
- Does not require a security deposit (unsecured)
- Does not earn rewards
- Initial credit limit of $225, with options to raise over time
- $89 one-time processing fee for starting your account
- $75 annual fee first year; $48 per year after first year
- $0 servicing fee first year; $75 per year after that
- $29 annual fee for additional card
Who is it For?
This card really only makes sense for folks who don’t have many other options. Even if you have poor credit, there are good odds of getting approved for this product. And because you don’t have to do a security deposit, the upfront cost is a bit lower.
With that said, the fees on this product are pretty brutal. See the full review below for more info.
Total Visa Unsecured Credit Card Review
This card has extremely high fees. In the first year you’ll be hit with the $89 initial processing fee, plus the $75 annual fee, for a total of $164. In the second year, you’ll have the $48 annual fee, plus $75 servicing fee.
Honestly, that’s too many fees for a card that only offers an initial credit limit of $225. You technically get a $300 initial credit limit, but the annual fee hits right away, reducing your available credit to $225 before you even get the card in the mail. You can see the full terms of this card here.
The big “perk” of this card is that it’s unsecured. There are other unsecured cards with better terms, however. Plus, you may be better off using a secured credit card anyways, particularly considering the high fees of this card.
Think about it this way: A secured card might require you to deposit $300 in order to get a $300 credit line. The money remains yours, locked in an account you can access later. With the Total Visa, you don’t have to make that security deposit – but, you have to pay $89+$75 up front in fees, money which is no longer yours.
For most people, a quality, low-fee secured credit card like the Discover IT Secured is a far better option.
Thanks for reading our Total Visa credit card review! Leave a comment if you have any questions.