The Total Visa® Card is a credit card designed for individuals with poor or limited credit history who need access to credit while working on improving their scores.
Unlike secured credit cards, the Total Visa Card is an unsecured credit card, meaning it does not require a security deposit.
However, it does come with high fees and interest rates, making it an expensive option if not used carefully.
Issued by The Bank of Missouri, this card is accepted anywhere Visa is and provides a pathway for cardholders to build their credit through responsible usage.
However, because of its high initial fees, low credit limit, and steep APR, it is essential to fully understand the terms before applying.
Reasons to Choose the Total Visa Card
While the Total Visa Card is not the most affordable option, it does have certain advantages, especially for those with bad credit who need an opportunity to improve their financial standing. Here are some reasons why you might consider this card:
- Easy Approval Process – The card is available to individuals with low or poor credit scores who might otherwise struggle to get approved for traditional credit cards.
- No Security Deposit Required – Unlike secured credit cards, you do not need to put down a cash deposit to open an account.
- Reports to All Three Major Credit Bureaus – Regular on-time payments can help build or repair your credit score over time.
- Fast Application and Decision Process – Applicants usually receive a quick approval decision, making it a viable option for those who need a credit card urgently.
- Worldwide Acceptance – As a Visa card, it is widely accepted in most locations and online merchants.
- Credit Limit Increase Opportunity – Over time, responsible card use may qualify you for credit limit increases, although this comes with additional fees.
Negative Factors of the Total Visa Card
While the Total Visa Card provides access to credit for those who need it, it has several significant drawbacks that should be considered:
- High Fees – The card has an initial program fee, an annual fee, and a monthly maintenance fee after the first year.
- Low Credit Limit – The initial credit limit is only $300, which is reduced further after fees are deducted.
- High APR – With an interest rate above 30%, carrying a balance on this card can become very costly.
- No Rewards or Perks – Unlike many credit cards, the Total Visa Card does not offer cashback, travel rewards, or purchase protections.
- Foreign Transaction Fees – It charges a 3% fee on international transactions, making it a poor choice for international travel.
- No Grace Period – Interest starts accruing immediately on purchases, unlike most credit cards that offer a grace period before charging interest.
Due to these drawbacks, this card should be used carefully and only by those who cannot qualify for better alternatives.
What Are the Requirements to Apply for the Total Visa Card?
Applying for the Total Visa Card is relatively straightforward, but applicants need to meet some basic criteria:
- Be at least 18 years old (or the age of majority in your state).
- Have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Have a verifiable U.S. address (P.O. boxes are not accepted).
- Provide proof of income to show the ability to make monthly payments.
- Have an active checking account – This is required for paying the initial program fee.
While there is no minimum credit score requirement, applicants with active bankruptcies or serious delinquenciesmay still be denied.
Fees and Costs
One of the most important factors to consider before applying for the Total Visa Card is its cost structure. Below are the primary fees associated with this card:
- Initial Program Fee: $89 (one-time fee required before account activation).
- Annual Fee: $75 for the first year, then $48 per year.
- Monthly Maintenance Fee: $0 for the first year, then $6.25 per month ($75 per year).
- APR (Annual Percentage Rate): 34.99% variable APR on purchases.
- Cash Advance Fee: Either $10 or 3% of the advance amount, whichever is greater.
- Foreign Transaction Fee: 3% of the transaction amount.
- Late Payment and Returned Payment Fees: Up to $41.
- Credit Limit Increase Fee: 20% of the increase amount if a credit limit increase is granted.
These high fees can make this card very expensive, especially if you carry a balance or frequently make late payments.
Frequently Asked Questions About the Total Visa Card
Is the Total Visa Card good for building credit?
Yes, the card reports to all three major credit bureaus (Equifax, Experian, and TransUnion), which can help improve your credit score if payments are made on time and balances are kept low.
What is the starting credit limit?
The initial credit limit is $300, but this is reduced by the first year’s fees upon activation.
Can I increase my credit limit?
Yes, but credit limit increases are subject to approval and come with a fee equal to 20% of the increase amount.
Does the card offer rewards?
No, the Total Visa Card does not offer cashback, travel points, or any other rewards.
How do I pay my initial program fee?
The $89 program fee must be paid upfront before your account can be activated. You can pay this via checking account or debit card.
Are there better alternatives to the Total Visa Card?
Yes, depending on your needs, secured credit cards like the Discover it® Secured Card or Capital One Platinum Secured may be better options as they charge fewer fees and offer rewards.
Can I use the card for international travel?
While the card can be used internationally, it charges a 3% foreign transaction fee and does not offer travel benefits, making it a poor choice for travelers.
Conclusion
The Total Visa Card is a high-fee unsecured credit card that provides access to credit for individuals with poor or limited credit history.
While it can be useful for building credit, it comes with numerous fees, a low initial credit limit, and a high APR, making it an expensive option compared to secured credit cards or other alternative credit-building options.
This card is best suited for those who cannot qualify for secured credit cards or better unsecured options and need a credit card despite the high costs.
However, if you are eligible for a secured credit card with fewer fees and better benefits, that may be a more affordable and rewarding choice for improving your credit.
