Tribute® Gold MasterCard® Credit Card  

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The Tribute® MasterCard® Gold Card, issued by First Bank of Delaware, is designed for those who only require the basic functions of a credit card, but would like to have their account reported to the credit bureaus.

The card offers high interest rates, and all of the variable interest rates have minimum caps. This simply means that no matter how low the Prime Rate drops, the interest rates on the account will not go below the stated minimum caps. In addition, the APRs for all transactions are tied to the highest Prime Rate during a 90-day period. Therefore, due to this policy, the APRs may never reach the lowest possible interest rates.

Cardholders will be issued either the $300 card or the $70 card after a review of their credit history.

The annual fee for the $300 card is $150. There is also a monthly maintenance fee of $9.95 that applies to this card, which amounts to $119.40 per year. The total amount of standard fees (not including penalty or default fees) is slightly above $269 for the first year.

While the $70 card does not have an annual fee, it does require a one-time $20 account opening fee. An account maintenance fee of $19 per month will be billed to the cardholder's account. Over the course of one year, this fee will total $228.

The best feature that both cards have is that cardholder's account activity can be reported to the credit bureaus, which may be worth the additional fees.

Therefore, those who can afford to pay in full each month in order to avoid high finance charges, do not mind paying the various fees associated with the card, and have a limited credit history will benefit most from the Tribute® MasterCard® Gold Card.