Review of the Tribute Mastercard

The Tribute Mastercard was last reviewed on 16th July 2006

Summary - The Tribute Mastercard from First Bank of Delaware is an unsecured credit card designed for those with not so good credit. This card allows you to get an initial credit limit of $300. Find out more about this card.

Fees - Like most unsecured credit cards for people with bad credit, the Tribute Mastercard comes with a fees that you should be aware of. Firstly, the annual fee is $150.00. There is also a one-time application fee of $29.00. In addition, there is a monthly maintanence fee of $6.50, which works out to $78.00 annually.

APR - The apr is prime rate plus 11.75%. However, the minimum rate is 19.50%. The average daily balance method (including new purchases) is used to calculate monthly balances. The grace period is 25 days.

Credit Limits - New cardholders are given an initial credit limit of $300. The following fees will appear on your first statement: Annual Fee of $150, and an Account Opening Fee of $29. After making your initial minimum monthly payment of $20, following the receipt of your card mailer, your available credit will be $141. You will be billed a Monthly Maintenance Fee of $6.50 ($78 per year), beginning after you make your first purchase.

Verdict - The Tribute® MasterCard® Gold will appeal to those with poor credit and are looking for an unsecured credit card. One of the interesting feature is that there is no minimum finance charge and you get 25 days of grace period.

  • No minimum finance charges
  • Grace period of 25 days
  • Reasonable one-time application fee

  • High annual fee

Tribute Mastercard
Cost/Fees/Interest rates
Annual Fees $150.00
Monthly Participating Fees $6.50 per month
One-time Setup Fees $29.00
Purchase APR P+11.75%, min 19.50%
Cash Advance APR P+17.75%, min 25.50%
Penalty/Default Rate APR P+17.75%, min 25.50%
Min Finance Charge None
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee 5%, min $5.00
Over-the-credit-limit fee $35.00
Late Payment fee $35.00

Apply for the Tribute® MasterCard® Gold

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