The Imagine Gold MasterCard is intended for those with bad credit. It is a sub-prime credit card from First Bank of Delaware. In contrast to most other credit cards, this one necessitates you to set up an automatic payment plan from your checking account. The imagine credit card is basically an unsecured credit card with some benefits. The key advantage of this unsecured credit card is that it reports to three major credit bureaus. This is an unusual opportunity for those with poor credit and will qualify only for secured or prepaid cards that frequently not report to the credit bureaus or charge fee in order to report to credit bureaus. In order to open and maintain this account, you have to pay fees of $150 for a whole year. You also got to pay a $9.95 maintenance fee as long as you carry a principal balance.

In addition to these costs, you also require to pay a one time set-up pay of $4.95. This indicates that the cardholder can anticipate a total of $274.35 fee in case if the cardholder opts to bear a balance on a monthly basis. The imagine credit card consists an above average interest rate for purchases, and the rate for cash advances is high. Conversely, those cardholders who can pay their monthly balances in full will be able to avoid these high rates as well as the monthly maintenance fee while still taking advantage of this card. You could further avail a 25 days grace period. The imagine credit card possess an above average interest rate for purchases on this card. Therefore, the customers who can pay off monthly balances in full will stay away from these charges and the monthly maintenance fee.

Those with bad credit or even no credit would find Imagine Card tempting. It contains a very low setup up fees compared to other sub-prime credit cards which could easily be its distinguishing feature. For this reason, those with good paying abilities and who can pay their balances in full, do not mind paying the various fees, and would prefer an unsecured credit card. They would then perceive how beneficial it could be. On the other hand, you must be aware that there are several fees in order to open and maintain this account. You might unearth an annual fee, a monthly maintenance fee, and a one-time processing fee. Despite of various fees, the total amount in fees that a cardholder can expect to pay in the first year is still low when compared to many secured and prepaid cards.

The Imagine credit card does comprise an above average interest rate for purchases and a high interest rate for cash advances. There is no major concern for you if you pay your monthly balance in full. If you are meeting these criteria, then you will be capable of avoiding these interest rates as well as avoiding the monthly maintenance fee, which is only charged for those months in which you carry a balance. Subsequent to the use of this card by cardholder, there will be a $9.95 account maintenance fee for each month in which the cardholder carries a principal balance. The amount put forward in the form of minimum APR for cash advances is pegged at 25.5%.