Total Visa Credit Card: Definition and Features

Typically, when applying for a credit card, you should expect your creditworthiness check from a financial institution to make sure you are capable of paying the debt. Some banks offer soft inquiries to see if you qualify without affecting your credit score. Customers with higher ratings get better terms. However, if you have a poor or limited credit history, getting a card can be challenging. This is where subprime options like Total Visa come in.

In our Total Visa Card reviews, we’ll explore this financial product’s major advantages and drawbacks, as well as provide information on the Total Visa Credit Card limit, payment conditions, reward options, and other details to help you decide if this card accommodates your financial situation and credit-building goals.

Total Visa Credit Card Basics

Issued by the Bank of Missouri and maintained by the biggest worldwide payment network, the Total Visa Unsecured Credit Card is a financial product designed as a credit score builder or rebuilder. 

The application process for the Total Credit Card is quite simple and fast compared to that in other banks. Application requirements are less strict, with no rating limitations in place. You can apply using an online app or a mobile app available for iOS and Android devices. More often than not, a decision is taken within mere minutes.

Once your application is approved, the bank will print your card’s hard copy immediately and send it to you within 7 business days. To make your monthly Total Visa Credit Card payment, you can use a mobile app or Myccpay online system.

Who Will Benefit From the Total Credit Card?

Before we delve into a thorough Total Visa Credit Card review, let’s first analyze the ideal candidates and scenarios for this card.

In a word, this card is a viable solution for those who have experienced financial difficulties resulting in low scores, for people new to credit or those with a minimal history, and for individuals with lower incomes.

Here are the most common situations where the Total Visa Credit Card will be an efficient financial tool:

• Rebuilding credit after financial setback: Individuals emerging from bankruptcy as well as those who have settled debts and seek to improve their scores, and those who have defaulted on loans or have accounts sent to collections might have difficulty applying for a new loan. They can start rebuilding their credit profiles with Total Visa Card.
• Establishing credit for the first time: College students and young adults who have never had a credit card before or immigrants who lack a US credit history can use this card to begin building it.
• Overcoming previous denials: Those who have been denied other options due to their ratings might find the Total Visa Credit Card an accessible alternative, given its focus on applicants with lower scores.

Things to Like About Total Visa Credit Cards

Now, let’s outline the features that make the Total Visa Credit Card an attractive option for those looking to build or rebuild their credit.

Unsecured Credit Card

Unsecured means it does not require a security deposit, unlike secured ones, making it a more feasible choice for individuals who may not have the extra funds to put down as collateral. As such, it provides immediate access to credit without the need for upfront cash, and your limit won’t depend on how much money you deposit into your account.

The basic Total Visa credit limit initially approved to all cardholders is $300. Subject to timely balance payment and no overdue settlements, you can apply for a limit increase a year after opening an account and using your card.

Cash Back

As soon as you get approval for a card, you are automatically enrolled in the cashback reward program. You’ll be eligible to earn a 1% bonus for payments to your Total Visa Card account. Bonus rewards come in points, 1 point per dollar, and are provided in statement credits. You can redeem every 500 points ($5) no sooner than 6 months of your account activity. The best thing is that reward points won’t expire for your account lifetime.

Reporting to Major Bureaus

The card will report cardholder activity to the three major bureaus (Experian, Equifax, and TransUnion) monthly. This feature is crucial for building or improving credit, as timely payments and responsible usage are reflected in reports.

Positive Impact on Credit Rating

With lenient credit requirements, the Total Credit Card is available to nearly anyone who needs access to credit, regardless of their financial situation. By consistently making on-time payments and maintaining low balances, cardholders can see a positive impact on their scores over time. Diligent cardholders may become eligible for a higher limit, providing more purchasing power and further aiding credit improvement.

Wide Acceptance

As part of the Visa network, the Total Visa Credit Card is widely accepted at millions of locations in the US, including online merchants, retail stores, and ATMs. This wide acceptance ensures cardholders’ flexibility in paying for purchases and services and conveniently making all other types of payments.

Things to Consider About Total Visa Credit Cards

While a solid credit improvement tool, the Total Credit Card is not perfect and has a number of nuances about it that might be off-putting for some customers. Most of those nuances are related to the financial realm and the cost of card use. So, our Total Credit Card reviews won’t be complete without mentioning these details.

High Interest Rates

The Total Visa Credit Card comes with a 35.99% Annual Percentage Rate (APR) for purchases and cash advances. This high rate is common for subprime credit cards, reflecting the increased risk associated with lending to individuals with poor credit. It means, though, that carrying a balance from month to month can result in substantial charges. Hence, customers would strive to pay their balances monthly to avoid hefty costs.

A Pool of High Fees

If you look into the Total Visa Card terms and conditions, you’ll spot a whole bunch of fees, most of which are not applied to other similar credit cards. An aggregate of these fees can neutralize the benefits during the first year of the card use.

• Program fee: It’s a one-time $95 fee that must be paid before opening an account. Otherwise, the card won’t be activated.
• Annual fee: For the first year, you’ll have to pay $75, which will be deducted from your approved credit limit of $300. So, the actual available credit will be $225. From the second year, this fee will be reduced to $48.
• Monthly servicing fee: With no payment during the first year, afterward, cardholders will have to pay $8.25 per month, which will translate into $99 annually.

These are fees specific to the Total Visa Credit Card that are applied in addition to common fees such as:

• Transaction fee: $10 or 3% of the amount will be charged for cash advances starting from the second year.
• Late payment fee: Up to $41 for missing a payment deadline.
• Returned payment fee: Up to $41 for the payment returned due to insufficient funds or other issues.

Limited Cardholder Benefits

The Total Visa Card offers basic credit card features without additional perks like travel insurance, purchase protection, or extended warranties that are often included with other credit cards. It also does not offer introductory offers, such as 0% APR for a promotional period or sign-up bonuses, which are common with many other credit cards.