What is Concora Credit, and Are its Cards Right for You? - NerdWallet (2024)

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Concora Credit, formerly known as Genesis Financial Solutions, is the company behind multiple credit cards for consumers with bad to fair credit (FICO scores of 300-689), including:

  • The Destiny credit card, issued by First Electronic Bank.

  • The Indigo credit card, issued by Celtic Bank.

  • The Milestone credit card, issued by The Bank of Missouri.

In addition to being under the Concora Credit umbrella, these cards tend to share the same nagging similarities: a bevy of hefty fees, small credit limits, super-high annual percentage rates, very few perks and no upgrade path to a better product.

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What is Concora Credit, and Are its Cards Right for You? - NerdWallet (1)

They may be easier to get than other credit cards, and because they're unsecured, they don't require an upfront deposit. Also, they report to all three major credit bureaus, so responsible use — such as paying on time — can help your credit scores.

But even with bad credit, you don't have to settle for one of these cards. Cheaper, better options exist.

Here's an overview of the credit cards serviced by Concora Credit.

» MORE: Best credit cards for bad credit

At a glance

Card name

Annual fee

Monthly fee

Credit limit

Optional over-limit fee?

Destiny credit card

$59-$175.

Waived the first 12 months, then up to $12.50 per month.

$300-$700.

Yes.

Indigo credit card

$0-$125.

Waived the first 12 months, then up to $5 per month.

$300-$2,000.

Yes.

Milestone credit card

$35-$175.

Waived the first 12 months, then up to $12.50 per month.

$300-$1,000.

Yes.

🤓Nerdy Tip

If you get a Destiny, Indigo or Milestone credit card with an annual fee, be aware that the fee is assessed upon account opening and thus immediately lowers your available credit. For example, if the card has a $300 credit limit and a $99 annual fee, you'd only be able to spend $201. You won't have access to the full credit limit until the annual fee is paid.

Destiny credit card

Annual fees for a Destiny credit card range from $59 to an outlandish $175, depending on the version you qualify for. In addition to an annual fee, some Destiny cards assess monthly fees, which can add up to over $100 a year. Cardholders can also opt in to over-limit coverage, which costs $29 to $41 to have the issuer approve a transaction that exceeds their credit limit. But over-limit fees are rare among credit cards in the first place, and some other issuers occasionally allow cardholders to exceed credit limits without incurring such a fee (although it's generally not advisable to spend beyond your means).

Destiny cardholders receive few rewards in exchange for those hefty fees. The maximum limit on a Destiny credit card is $700, and while one version of the card does earn rewards on purchases, that card is available through a direct offer only.

A fee-free alternative: Petal® 1 "No Annual Fee" Visa® Credit Card

True to its name, the Petal® 1 "No Annual Fee" Visa® Credit Card doesn't have an annual fee, foreign transaction fee or late penalty APR — and it offers rewards. The card's issuing bank may also consider factors beyond credit scores when evaluating applications, making this card a solid option for those with bad or limited credit.

Indigo credit card

The Indigo credit card might be the best of the three cards serviced by Concora Credit. Its annual fee could be as low as $0, depending on what you qualify for. The foreign transaction fee is 1%; many other cards charge 3% if you use them abroad. A credit limit as high as $2,000 is possible, depending on the version of the Indigo credit card you qualify for.

The Indigo credit card isn't without faults, though. The annual fee can be as high as $125, and like the Destiny and Milestone credit cards, the Indigo credit card may charge over-limit fees. It doesn't earn rewards, either.

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A rewards-earning alternative: Capital One Quicksilver Secured Cash Rewards Credit Card

You'll earn an unlimited 1.5% cash back on every purchase made with the $0-annual-fee Capital One Quicksilver Secured Cash Rewards Credit Card. Getting this card requires a minimum $200 security deposit, but unlike an annual fee, the deposit is refundable.

» MORE: NerdWallet's best secured credit cards

Milestone credit card

As of this writing, there are more than 20 possible versions of the Milestone credit card. They range in quality from decent to horrendous. Depending on your creditworthiness, you could end up with a card with a $35 annual fee, no monthly fee, a 29.9% APR (as of this writing) and a $700 credit limit. Those are reasonable terms for an unsecured card for poor credit, and it would make that Milestone card comparable with the OpenSky® Secured Visa® Credit Card, one of NerdWallet's best credit cards for bad credit.

But there's also a Milestone credit card whose lowlights include a ludicrous $175 annual fee, a $12.50 monthly fee, a $40 over-limit fee and a 35.9% APR (as of this writing).

» MORE: Best credit cards with no credit check

Is one of these credit cards right for me?

All told, there are around 60 iterations (combined) of the Destiny, Indigo and Milestone credit cards, and a few have relatively favorable terms for credit cards in their class. None of the cards requires you to tie up money in a security deposit, and because they all feature comprehensive credit reporting, it's possible to use them to help shore up your credit.

The catch with these cards is that there's no guarantee of getting one of the better ones. Other credit cards for bad to fair credit are more transparent in what they offer, and some of them have excellent perks that outshine the cards serviced by Concora Credit.

What is Concora Credit, and Are its Cards Right for You? - NerdWallet (2024)

FAQs

What is Concora Credit, and Are its Cards Right for You? - NerdWallet? ›

Concora Credit, formerly known as Genesis Financial Solutions, is the company behind multiple credit cards for consumers with bad to fair credit (FICO scores of 300-689), including: The Destiny credit card, issued by First Electronic Bank. The Indigo credit card, issued by Celtic Bank.

Is Concora Credit real? ›

Helping non-prime customers do more

For more than 20 years, Concora Credit has been helping them make key purchases and build a credit history to raise their score and borrowing power.

What credit cards are Concora Credit? ›

We currently provide services to the Indigo Mastercard, Milestone Mastercard, Destiny Mastercard, and Earniva Business Mastercard.

What card is concora? ›

In 2013, Concora Credit also began servicing general-purpose credit card receivables through direct marketing with the non-prime Milestone Mastercard and expanding in 2015 with the Indigo Mastercard and later with Destiny Mastercard and Earniva Business Mastercard.

Does Concora Credit increase credit limit? ›

No, you cannot get a Concora credit card credit limit increase. According to customer service, a credit limit increase is not a feature that's offered with the Concora credit cards.

What is the interest rate for Concora? ›

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases29.99%
Fees
Annual FeeNone
Penalty Fees Late Payment Returned PaymentUp to $40 Up to $40
3 more rows

How do I close my Concora Credit account? ›

You may cancel your Account at any time by writing to us at Concora Credit, P.O. Box 4477, Beaverton, OR 97076. If you have a joint Account and want to remove one of the names from the Account, we must receive a written request signed by both of the Accountholders on the Account.

What is the strongest credit card in the world? ›

What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.

What credit card does millionaires use? ›

What Credit Card Do the Super Rich Use? The super rich use a variety of different credit cards, many of which have strict requirements to obtain, such as invitation only or a high minimum net worth. Such cards include the American Express Centurion (Black Card) and the JP Morgan Chase Reserve.

How do I contact Concora Credit? ›

Customer Support: Our customer support teams are available to address any questions or concerns you may have. Feel free to reach out to 800-229-0364 any time after February 1st for support.

Who is the CEO of Concora Credit? ›

Bruce Weinstein - Concora Credit | LinkedIn.

Is Genesis now concora? ›

Genesis Financial Solutions has rebranded itself as Concora Credit. The company has also launched a new website, www.concoracredit.com, to support the new brand and a new tagline, 'Do More with Concora Credit.

Is the Indigo card concora? ›

The Indigo credit card is among a handful of products — including the Milestone card and Destiny card — serviced by Concora Credit and targeting those with bad credit.

Who accepts a Concora Credit card? ›

You can use your Concora Credit credit card anywhere Mastercard is accepted. So, these cards can be used virtually anywhere credit cards are accepted, as Mastercard benefits from the most extensive worldwide acceptance, along with Visa credit cards.

What credit score do you need for a Concora Credit card? ›

Concora Credit, formerly known as Genesis Financial Solutions, is the company behind multiple credit cards for consumers with bad to fair credit (FICO scores of 300-689), including: The Destiny credit card, issued by First Electronic Bank.

What is concor credit? ›

Who We Are. At Concora Credit, we put customers first by providing non-prime consumers access to quality credit products that are transparent and affordable.

What is concorda credit? ›

The private-label credit card programs offered through the Concora Credit brand, allows merchants the ability to provide financing solutions to customers who are turned down by primary lenders.

Is credit card forgiveness program real? ›

Unfortunately, there is no such thing as a government-sponsored program for credit card debt relief. In fact, if you receive a solicitation that touts a government program to get you out of debt, you may want to think twice about working with that company.

Which credit report site is legit? ›

Federal law gives you free access to your credit reports from the three major credit bureaus: Equifax, Experian and TransUnion. Using the government-mandated AnnualCreditReport.com website is the quickest way to get them, but you can also request them by phone or mail.

What is the milestone credit card $700? ›

The Milestone Mastercard® - $700 Credit Limit is designed for consumers interested in learning how to manage credit responsibly. Although the card doesn't come with a rewards program, it has several helpful features for cardholders who need help establishing a credit history or recovering from bad credit.

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