Genesis Financial Services offers credit to the non-prime market, which is users who can’t qualify for prime rates because of their credit history. You can pre-qualify for Genesis FS credit cards without affecting your credit score, so you know what you qualify for and the terms. Genesis offers the option to customize your card design and all three credit bureaus receive payment data, which can help boost your credit score and establish you as a responsible cardholder. Genesis also offers Genesis credit, which extends second-look financing to consumers who don’t qualify for prime lenders. Genesis created the Genesis Credit brand after the 2008 recession, when many saw their credit negatively impacted through no fault of their own, like job loss or health issues. The Genesis Credit belief is “no one should be turned away from financing based solely on a FICO score.” Find out what Genesis FS credit cards and financial services has to offer and what you might qualify for. Also: The best starter credit card for no credit This credit card comes with an annual fee, and you may also have to pay a monthly fee, which is considered set up and maintenance fees. Even if you charge nothing on the card, you’ll still be responsible for paying these fees as long as the account remains active. Your fee amounts and APR vary by the cardholder agreement you’re approved for. If you’re approved for a $300 Destiny Mastercard, your annual fee billed the first year and each year after is $35 or $59. You may also get approved with a $75 initial annual fee and then $99 each year after. The APR for this card is 24.9% or 29.9%, and the cash advance APR is 29.9% for all Genesis FS Destiny Mastercard credit cards with a $300 credit limit. If you’re approved for a $500 Destiny Mastercard credit limit, the annual and yearly fees are either $59 or $125. You could also be approved for a card with an initial annual fee of $125 and $49 each year after, plus a monthly fee of $10.40 after the first year, which amounts to $124.80 annually. The APR for cash advance and purchases are 29.9% or 35.9%, depending on your cardholder agreement. The Destiny Mastercard also comes with a $700 credit limit, which comes with a 35.9% cash advance and an interest rate of 35.9%. This card comes with an annual fee of $175 for the first year and $49 each year after, plus a $150 annual fee billed monthly at $12.50 per month. Pros:
Almost anyone can be approvedApproval up to $700 credit limitUnsecured credit cardCan pre-qualify without affecting credit scoreLow foreign transaction fee of 1%
Cons:
High annual feeSeparate monthly maintenance fee on certain cardholder agreementsNo intro bonusNo other perks or benefitsHigh APR
Also: 5 ways to improve your credit score without a credit card For those approved for a $300 credit limit, there are several cardholder agreements. You could qualify for a $300 credit limit with an annual and yearly recurring maintenance fee of $35 or $59. Another option could be a $75 initial annual fee with a $99 annual fee each year after. Each card comes with either a 24.9% or 29.9% APR for interest and cash advances. There is also a cardholder agreement with a 35.9% APR with a $75 initial annual fee and $49 each year after, plus a monthly maintenance fee of $8.25 per month billed after the first year, which totals $99 per year. The Milestone Gold Mastercard also comes with a $500 credit limit with various cardholder agreements. You may be approved with a $59 annual and yearly fee each year after, with either a 24.9% or 29.9% APR and a 29.9% cash advance APR. This card also comes with a 29.9% APR with $75 initial annual fee and $99 annual fee each year after, or a $125 annual fee starting in year one. A $500 credit limit may also come with a $125 first year annual fee and $49 due each year after, plus a monthly fee of $10.40 billed per month for maintenance, totaling $124.80 per year. This cardholder agreement comes with either a 29.9% or 35.9% APR with a matching cash advance APR. If you qualify for a $700 credit limit on the Milestone Gold Mastercard, you could be approved for one of three cardholder agreements. This credit limit comes with either a $35 yearly annual fee or a $75 first year annual fee and $99 each year after with a 29.9% purchase and cash advance APR. If your credit score is lower, you may qualify for a 35.9% APR with a $175 first year annual fee and $49 each year after, plus a $150 annual maintenance fee billed monthly at $12.50. The Milestone Gold Mastercard also comes with a $1,000 credit limit for those who qualify. This credit limit features a $74 annual fee for the first year and $99 each year after, plus a 29.9% cash advance and purchase APR. Pros:
Most with bad or poor credit approvedPre-qualifying will not affect credit scoreCan be approved for up to $1,000 credit limitPotential for no monthly maintenance feeUnsecured credit card1% foreign transaction fee
Cons:
May have monthly maintenance feesMay receive high first-year annual fee, reducing purchase powerHigh APR Highest fees for a low credit limitMay not qualify with bad credit
There are several cardholder agreements you could qualify for with a $300 credit limit. You could be eligible for no annual or monthly maintenance fee with a 24.9% APR and 29.9% cash advance APR. This credit card also comes with an annual fee of $49 or $59 each year and either a 24.9% or 29.9% purchase APR with a 29.9% cash advance APR. The $300 credit limit also comes with a cardholder agreement for a $75 annual fee and $99 each year after, with either a 9.9%, 19.9%, 24.9%, or 29.9% APR. The $500 credit limit comes with one of three cardholder agreements. You might qualify for a $59 annual fee with either a 24.9% or 29.9% APR and a 29.9% cash advance APR or a $125 annual fee with a 29.9% cash advance and purchase APR. The Indigo Mastercard also comes with a $700 or $1,000 credit limit with a $59 annual fee and 29.9% cash advance and purchase APR. Pros:
The high potential credit limitNo monthly feePotential for a low APR of 9.9%Unsecured credit card1% foreign transaction feePre-qualifying won’t affect your credit score
Cons
Those with bad credit may not qualifyTerms are cumbersome with low credit limitSome credit limits come with high APRNo intro bonusNo perks or benefits
*May also include monthly maintenance fees. The Destiny Mastercard comes with the lowest credit limit and highest APR and fee terms, so may be best suited for someone with bad credit. The Milestone Gold and Indigo Genesis FS credit cards come with more favorable terms, such as lower APRs and fees, and a credit limit of up to $1,000 for those who qualify. If you’re unsure which Genesis FS credit card is right for you, consider getting pre-qualified. You’ll be able to see which card, credit limit, and terms you qualify for without impacting your credit score. Once you’ve decided which card fits your needs, apply for it. Don’t forget that the annual and monthly maintenance fees lower your available credit limit, so plan purchases accordingly so you don’t get hit with an overlimit fee.
APR: The annual percentage rate, or APR, is the amount of interest you pay on purchases made with the Genesis FS credit card. Your APR can range from 24.9% – 35.9%, depending on which card you get approved for. There is also a separate cash advance APR that you will pay if you take a cash advance against the credit limit of the credit card.Benefits: Credit cards will often have benefits attached to the card you can use to enhance your experience. This can include balance transfers from another credit card, sign up bonuses, and earning points or miles that can be used for travel, shopping, and merchandise. The Genesis FS credit cards do not come with benefits at this time.Fees: There can be several types of fees you are responsible for when you agree to a credit card plan. Annual fees, cash advance, foreign transactions, late payment, overlimits, and returned payment fees can be assessed to your Genesis FS credit card account. Make sure to read your card agreement details to understand which fees and the amounts that apply to you.
Capital One Platinum Credit Card: This credit card is for those looking to build good credit. It doesn’t have an annual fee like the Genesis FS cards do unless you qualify for a no-fee Indigo credit card.Discover it® Secured Credit Card: The Discover It card requires collateral or a deposit for approval but doesn’t have an annual fee. You can also earn cashback on everyday purchases.
