When your credit score is less than stellar, your choices for credit cards may feel pretty scarce, often narrowing down to a handful of options that promise swift acceptance.
Editor’s Update
In September 2023, Genesis Financial Solutions transformed its identity and emerged as Concora Credit. The details presented here respect this transition and reflect the current state of affairs.
Side-by-Side Comparison of Top Concora Credit Cards
Many of the Concora credit options share similar traits and minimal perks, leaving little incentive to favor one over another. The cards are notorious for steep fees without any accompanying rewards or added benefits.
Note: Each card is a Mastercard that actively reports your credit activity to all three major credit bureaus, an essential factor for rebuilding or establishing credit history.
Concora Card Highlights at a Glance:
- Steep initial and ongoing fees
- Absence of rewards programs
- Instant approval available on select cards
- No security deposit required for some cards
Quick Key Stats
Concora credit cards typically carry a staggering regular APR near 35.9%, monthly maintenance fees of $19.25 after the first year, and an annual fee that starts at $250 and drops to $99 thereafter. Additionally, cash advances cost 5% per transaction, with a minimum $5 fee, and foreign transactions add another 1% charge.
Best for Instant Approval: The Destiny Mastercard
The Destiny Mastercard grants an initial $700 credit limit once approved—without requiring a deposit upfront.
Right after approval, you can immediately start using the card digitally while awaiting the physical version to arrive at your doorstep.
Pros:
- Use your card without waiting, thanks to instant approval
- Accepts applicants regardless of credit history status
Cons:
- High fees slash the usable credit limit noticeably
- Elevated APR makes carrying a balance pricey
Best for Rebuilding Credit: The Indigo Mastercard
If you’re eager to restore your credit standing or recovering from recent hardships, the Indigo Mastercard might be your ticket.
Eligibility can be checked via a soft pull that leaves your credit score unscathed.
Advantages:
- Soft credit inquiry avoids lowering your score
- Monthly credit reporting to all three major bureaus helps reestablish your credit history
Drawbacks:
- Zero rewards or bonuses attached
- Lower credit limit restricts ability to keep credit utilization low
Indigo Mastercard Features
- $1,000 credit limit guaranteed upon approval
- Applying won’t ding your credit score if denied
- Access to credit, even with blemished history
- Over one million users rely on monthly credit bureau reporting
- Zero fraud liability for added security
- No credit perfection required — all are welcome
- Purchase power without the need for deposits
Best for Credit Utilization Management: The Milestone Mastercard
The Milestone Mastercard mirrors the terms of other Concora cards, but its $1,000 credit limit provides more breathing room to reduce your credit utilization ratio—a key factor in improving your score over time.
You might find multiple offers and different card versions across websites or pre-approval portals.
Additionally, this card offers customizable designs, allowing a personal touch.
Strengths:
- Higher credit limit facilitates better utilization rates
- No deposit required, making it easier to obtain than secured cards
Weaknesses:
- You might not receive the most advantageous card variant available
- Excessive fees chip away at your credit limit
Milestone Mastercard Features
- $1,000 credit limit guaranteed if your application is approved
- Credit score stays untouched if your application is declined
- Designed for applicants with imperfect credit
- Over a million people are actively building credit
- Zero fraud liability provides peace of mind
- Credit access even with a shaky credit record
- Without a security deposit, paving the way to improved credit
Understanding Concora’s Card Terms
Despite minor differences across their products, Concora credit cards generally maintain consistent terms:
| Regular APR | Approximately 35.9% |
| Monthly Fee | $0 for the first year; $19.25/month billed after that (~$231 annually) |
| Annual Fee | $250 during the first year; $99 every year afterwards |
| Cash Advance Fee | 5% per transaction (minimum $5, maximum $100) |
| Foreign Transaction Fee | 1% of each foreign purchase converted to USD |
| Overlimit/Late/Returned Payment Fee | Up to $41 |
| Credit Protection (Optional) | $1.49 monthly per $100 of statement balance |
| Overlimit Coverage (Optional) | Up to $41 per cycle; can include up to two extra overlimit fees if balance remains over limit on due date |
FAQs
What credit score is required for Concora credit cards?
Primarily aimed at subprime borrowers, Concora cards welcome applicants regardless of credit standing. Should you not qualify, alternative recommendations may be offered without a hard credit check.
When did Genesis Financial Solutions adopt the Concora Credit name?
The company officially rebranded itself to Concora Credit in September 2023.
Is it possible to increase my credit limit on Concora cards?
Currently, Concora does not provide options to raise credit limits for any of its cardholders.
Final Thoughts
Concora credit cards serve as one of the few avenues for individuals grappling with low scores or limited credit histories to access credit. Yet, the heavy fees attached make these cards better suited as temporary stepping stones. Responsible use and a focused effort to upgrade to better cards with fewer costs and more perks should be the ultimate goal.
Note: Information about the Destiny Mastercard® (featuring a $700 credit limit) and the Indigo® Mastercard® has been sourced independently by Bankrate.com. These card details have not undergone review or approval by the issuing entities.