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New Millennium Bank Secured Platinum Visa/MasterCard

The New Millennium Bank Secured Platinum credit card is one of the premier options for those looking to build credit from the ground up or to repair a damaged score. With competitive rates and fees, generous perks, and the potential to attain a good credit score twice as fast as you would with another company’s secured credit card, New Millennium can accelerate your rise to the ranks of those with good or excellent credit.

Read this review of the New Millenium Bank Secured Platinum credit card to decide if this card is right for you and if so then click the apply button above or else use our free tool to compare credit cards!

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What is a Secured Credit Card?

A secured credit card uses a line of credit supplied not by the credit card company, but by you. If you put $300 into the savings account associated with the credit card, then you can use your card for up to $300 in purchases. If you supply $500 up front, then you can charge up to $500 with your card. The amount you choose to put into your account—as long as it is between the $300 minimum and $5,000 maximum specified in the terms and conditions—is totally up to you. With the New Millennium Secured Platinum Visa or MasterCard, you can rest assured that you will be able to increase your credit limit at any time by depositing additional funds (up to $5,000) to your account.

Building Credit

For many people, a secured credit card is the only way to create credit from scratch or to repair damaged credit. When applying for a New Millennium Secured Platinum Visa or MasterCard, you will not be subjected to a credit check, which means that you WILL be approved for the card whether your credit is good, bad or indifferent.

Once approved, you will be on your way to the solid credit score that comes from making timely payments and not taking on more debt than you can handle. Your newfound creditworthiness will be reported to the three big credit bureaus—Equifax, Experian, and TransUnion—and a new FICO® score will be calculated.

With the New Millennium Secured Platinum card, which is available in both Visa and MasterCard versions, you have the opportunity to build your credit 100% faster. Being in possession of both cards at the same time means that two cards will be reported to the credit bureaus instead of just one, thereby propelling you into the realms of good credit at a much faster rate.

Once your discipline has merited you a “good” or “excellent” score, you will find that employers, landlords, mortgage lenders—as well as anyone else privy to the results of your credit check—will look at you in a whole new light.

Setting up your New Millenium Account

The New Millennium Secured Platinum Visa or MasterCard comes with an annual fee of $59 each. The application processing fee is $99.95 (or $129.95 if you apply for both the Visa and Mastercard versions at the same time).

The cash advance rate is 19.5% and the cash advance fee is 2%. The late fee maxes out at $20. You should be careful to avoid late fees, not only because of the extra fee, but because interest adds up quickly.

The late payment situation is made even worse because interest starts to accrue as soon as a purchase is made. This differs from the most unsecured cards, which offer you a grace period during which you will not be charged interest on your purchase. Sticking to the responsible use of your secured card will allow you to build the kind of credit that will soon allow you to reap the benefits of unsecured cards.

Benefits of the New Millennium Secured Platinum Credit Card

We hear so much these days about special perks and rewards available to unsecured cardholders. Now, New Millennium brings some of those privileges to people in possession of secured credit cards.

Some of these benefits include extended warranty coverage on purchases, car rental insurance, travel accident insurance, a free companion airline ticket, and a “finder’s fee” for new customer referrals. The card also comes with a free membership to a travel club that offers additional privileges including rebates and discounts available when you use your New Millennium Secured Platinum card to make purchases through the club.

Apply for a New Millennium Secured Platinum Credit Card

If the New Millennium Bank Secured Platinum credit card seems like the right vehicle to help speed up your journey to the land of good credit, then don’t waste any time—apply today by clicking on the orange button above or click to compare credit cards from other issuers!

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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Less than $2,500 More than $2,500
Always Never Sometimes