|
The Tribute® MasterCard® Gold
Card, issued by First Bank of
Delaware, is designed for those
who only require the basic
functions of a credit card, but
would like to have their account
reported to the credit bureaus.
The card offers high interest
rates, and all of the variable
interest rates have minimum
caps. This simply means that no
matter how low the Prime Rate
drops, the interest rates on the
account will not go below the
stated minimum caps. In
addition, the APRs for all
transactions are tied to the
highest Prime Rate during a
90-day period. Therefore, due to
this policy, the APRs may never
reach the lowest possible
interest rates.
The annual fee applied to new
accounts is $150. There is also
a monthly maintenance fee of $6,
which amounts to $72 per year.
The total amount of standard
fees (not including penalty or
default fees) is $222 for the
first year.
However, the best feature of
this card is that it does report
to the credit bureaus, which may
be worth the additional fees.
Therefore, those who can afford
to pay in full each month (to
avoid high finance charges), do
not mind paying the various fees
associated with the card, and
have a limited credit history
will benefit most from the
Tribute® MasterCard® Gold Card. |
|
This card is not available to
residents of Iowa, Wisconsin,
New York, West Virginia, Puerto
Rico or other U.S. territories.
The APR is based on the highest
Prime Rate during a 90-day
period.
The minimum APR for purchases is
19.50%.
The minimum APR for cash
advances is 25.50%.
The first payment of $20 must be
received and processed before
the card can be activated and
used.
See website for complete terms
and conditions of card usage and
application disclosure. |
|
Note: The review on this card
was updated on 4/17/2007. The
review is believed to be
accurate during the update,
however, information posted may
have changed since the update.
We strongly suggest that you
carefully read the Terms and
Conditions statement that
accompanies the credit card
application. |
