If you have a low credit score, qualifying for a credit card can be challenging. At the same time, a new credit card can be essential to repairing your credit. In this catch-22 situation, your options may be limited.
Concora Credit (formerly Genesis Financial Solutions) is one of the companies that offers credit cards for customers in these situations, providing three card options for people with bad credit.
Comparing the best Concora credit cards
When your credit isn’t in ideal shape, many of your available credit card options may be limited to secured cards, which require a security deposit at the time of application. Concora credit cards offer unsecured options, but they all come with significant ongoing fees.
Top Concora credit cards
Best for instant approval
Bankrate score
2.1
Bankrate review
Best for credit utilization
Bankrate score
2.5
Bankrate review
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The Indigo Mastercard might be an option if you are desperate to rebuild your credit or have gone through a recent bankruptcy. You can check your eligibility with a soft credit check, which won’t further decrease your credit score. However, like its counterparts, the lower credit limit and high fees make it challenging for these cards to maintain long-term. Also, depending on your creditworthiness, you aren’t guaranteed to get the best terms available.
How to choose the best Concora credit cards
Concora credit cards all have similar features, which are extremely minimal. There’s no significant reason to choose one card over another. Concora cards charge exorbitant fees and don’t offer rewards or any other benefits in return.
However, each card is a Mastercard that reports your credit history to all three credit bureaus, which can help improve your credit score when you demonstrate responsible use. Your primary focus should be to qualify for better cards with more favorable terms and lower fees as quickly as possible.
Card terms
Concora credit cards generally have similar terms and conditions. While there may be some variation depending on which card you qualify for, here is a rundown of terms you might see:
- Regular APR: 35.9 percent
- Monthly fee: $0 for the first year, $150 annually after that (billed $12.50 per month)
- Annual fee: $175 for the first year, $49 after that
- Cash advance fee: 5 percent of each transaction (minimum $5, maximum $100)
- Foreign transaction fee: 1 percent of each transaction in U.S. dollars
- Overlimit, late or returned payment fee: Up to $41
- Credit protection fee (optional): monthly fee of $1.49 per $100 of your monthly statement balance
- Overlimit coverage (optional): Up to $41 per cycle, up to two additional overlimit fees if your new balance remains over your credit limit on the payment due date
Frequently asked questions
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Since Concora credit cards are intended for subprime customers, there’s a good chance you can qualify regardless of your credit situation. In case you don’t qualify, the issuer may suggest other options and won’t perform a hard inquiry of your credit.
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Genesis Financial Solutions rebranded itself as Concora Credit in September 2023.
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Concora doesn’t offer credit limit increases on any of its cards.
What’s next?
Check out these Bankrate tools to match your next card.
The bottom line
Concora offers credit cards for customers with low credit scores or limited credit history who don’t have many other options. However, these cards come with high ongoing fees and should only be considered a hopefully brief stepping stone on your credit-building journey. Your goal should be to improve your credit score as quickly as possible through responsible use so you can qualify for better cards with more favorable terms and lower fees.
*Information about the Destiny Mastercard® – $700 Credit Limit and Indigo® Mastercard® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuers.
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