Overview:
This card has a very high APR with no way to lower it but if you pay it off at the end of every month and don’t keep a balance this card will help you rebuild your credit history over time. The card also offers Applied Advantage insurance for $35 a year on case you are injured, ill, lose employement, or die.
How This Card Works:
This card is aimed at people trying to rebuild their credit. The interest rate is high but they provide credit to people that couldn’t otherwise get it. This card isn’t for people with good credit history. Howeer, this card oes not require a security deposit and offers credit increases over time. The interest rate, however, is never lowered. The APR is 20.99%, with a rate that increases to 23.99% if you’re 30 days late and 26.99% if you’re 60 or more days late. There’s a one time “account origination fee” of $100.00 along with an annual fee of $50, no matter what. The fee for late payments and being over your limit is $30. This card is a good option for people with bad credit history that are trying to rebuilt. While the fees and annual percentage rates are high, they help fix your credit and even offer to increase your limit the longer you keep the account in good standing.
There is also Applied Advantage insurance available for $35 yearly which protects you in case you become unemployed, injured, or a serious illness befalls your family. Your minimum monthly payments will be made until you are in a better situation. The insurance will also pay the account completely if you pass away. This insurance also provides you with rental car discounts, better customer service, online account management, registration of your credit card, a household inventory registration, increased credit limits, and convienence checks.
Travel and Shopping Benefits:
There are no travel or shopping benefits except for the rental car discount you receive when you enroll in the Applied Advantage insurance for $35 annually.
Fees:
The APR is 20.99%, with a rate that increases to 23.99% if you’re 30 days late and 26.99% if you’re 60 or more days late. There’s a one time “account origination fee” of $100.00 along with an annual fee of $50. The fee for late payments and being over your limit is $30.
Pros:
- This card helps rebuild credit.
- Gives credit line increases about every 6 months with on time payments.
- Applied Advantage insurance is available for $35 a year.
Cons:
- Very high APR.
- High fees to open account.
- Annual fee of $50.
Verdict: A good option for people with bad credit history looking to rebuild. The Cross Country Bank Card offers credit to people that couldn’t get it otherwise and increases credit limits over time. This isn’t a card for people with good credit.
