Total Visa® Card Credit Card Review

Navigating the world of credit cards can be overwhelming, particularly if you’re trying to rebuild or establish your credit. The Total Visa® Card is designed to cater to individuals with poor to fair credit scores, offering a straightforward and accessible way to work toward better financial health. However, like any financial product, it comes with its own set of benefits and drawbacks. In this comprehensive review, we’ll delve deep into the Total Visa® Card, providing you with the insights you need to decide if this card is the right fit for your financial journey.

Total Visa® Card Key Takeaways

Before we dive into the nitty-gritty details, let’s highlight some of the most critical aspects of the Total Visa® Card:
– Cash Back Rewards: 1% cash back on all purchases.
– Annual Fee: $75 for the first year, $48 thereafter.
– Purchase APR: 35.99%.
– Credit Score Requirement: Suitable for individuals with poor to fair credit (0-669).
– Fee Structure: Includes fees for late payments, returned payments, and cash advances after the first year.

Total Visa® Card Pros and Cons

Pros

1. Low Credit Score Requirements: The Total Visa® Card is accessible to those with poor to fair credit scores, making it a viable option for individuals looking to rebuild their credit.
2. Cash Back Rewards: Earn 1% cash back on all purchases, providing a modest incentive for everyday spending.
3. Payment Flexibility: The card offers flexible payment options and online account management, making it convenient to keep track of payments and balances.
4. Fraud Protection: Built-in fraud protection features help safeguard your account from unauthorized transactions.
5. Free Credit Score: Access to your credit score can help you monitor your progress and stay informed about your credit health.

Cons

1. High Annual Fee: The $75 annual fee for the first year and $48 thereafter can be a significant cost, especially for those trying to rebuild their credit.
2. High Regular APR: With a purchase APR of 35.99%, carrying a balance from month to month can lead to substantial interest charges.
3. No Introductory APR Period: The absence of an introductory APR period means you’ll start accruing interest on purchases immediately if you don’t pay your balance in full each month.
4. Extra Fees: Additional fees for late payments, returned payments, and cash advances (after the first year) can add up quickly if you’re not careful.

Total Visa® Card Benefits

1% Cash Back on All Purchases

One of the standout features of the Total Visa® Card is its 1% cash back rewards on all purchases. While this rate may not be as high as some other cash back cards on the market, it provides a straightforward way to earn rewards on everyday spending. Whether you’re buying groceries, filling up your gas tank, or making online purchases, you’ll earn 1% cash back on every dollar you spend.

Credit Building Potential

The Total Visa® Card is geared toward individuals with poor to fair credit, making it an excellent tool for rebuilding or establishing credit. By using the card responsibly—making on-time payments and keeping your balance low—you can demonstrate positive credit behavior to the major credit bureaus. Over time, this can help improve your credit score and open the door to more favorable credit offers.

Payment Flexibility and Online Account Management

Managing your account and making payments is convenient with the Total Visa® Card. You can pay your bill online through the card issuer’s website, ensuring that you always stay on top of your payments. Additionally, flexible payment options allow you to choose the payment method that works best for you, whether it’s setting up automatic payments or making manual payments each month.

Fraud Protection

Security is a top priority with the Total Visa® Card. The card comes with built-in fraud protection features that help safeguard your account from unauthorized transactions. If your card is lost or stolen, you can quickly report it to the issuer and receive a replacement card, minimizing any potential disruption to your finances.

Free Credit Score Access

Staying informed about your credit health is crucial when you’re working to rebuild or establish credit. The Total Visa® Card provides access to your credit score, allowing you to monitor your progress and stay on top of any changes to your credit profile. This valuable tool can help you make informed decisions about your financial habits and track your journey toward better credit.

Conclusion

The Total Visa® Card is a practical choice for individuals with poor to fair credit who are looking to rebuild or establish their credit. With its 1% cash back rewards on all purchases, flexible payment options, and built-in fraud protection, it offers a range of benefits that can help you on your path to better credit health.
However, it’s essential to weigh these benefits against the card’s drawbacks, including the high annual fee, steep regular APR, and additional fees for late payments, returned payments, and cash advances (after the first year). If you’re able to manage these costs and use the card responsibly, the Total Visa® Card can be a valuable tool in your financial toolkit.
As with any financial decision, it’s crucial to carefully consider your own needs and circumstances before applying for a credit card. By doing your research and understanding the terms and conditions of the Total Visa® Card, you can make an informed choice that’s right for you.
In summary, the Total Visa® Card is a solid option for those looking to rebuild their credit, but it’s important to be mindful of the costs and use the card responsibly to maximize its benefits. If you’re ready to take control of your credit journey, the Total Visa® Card may be the right fit for you.