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Whether you have trouble keeping tabs on your finances or you faced a particularly challenging situation in your past, you should know that a less-than-stellar credit score is not the end of the world. The Provincial Trust Gold Card might be able to help you get back on your feet, though.
There are many reasons why someone might have a poor credit rating. Unfortunately, your credit score is all that many banks will look at when you apply for financial products like loans and credit cards. What is, perhaps, more unfortunate is that it can often be quite difficult to survive these days without some kind of credit. Although the Provincial Trust Gold Card is not a traditional credit card, it might still be able to help you improve your ability to manage your finances thanks to its unique program.
The Provincial Trust Gold Card is not a credit card, but a shopping card that allows you to make purchases through an online mall. It does not bear a Visa or MasterCard symbol, so gone are the usual rates, fees, and penalties typically associated with credit cards. Indeed you might appreciate benefits like:
- No credit checks
- Guaranteed Approval
- No interest charges
- Flexible payments
- Loyalty rewards
When you think of shopping cards, you might feel like you are limited but the products available to purchase are some of the most popular consumer goods currently on the market. You can choose from a variety of consumer electronics and small kitchen appliances among other things. Typically, the products that are featured are what is known as "big-ticket items" that are difficult for many to buy with cash. This includes:
- Coffee/espresso makers
- Video game consoles
- Laptop computers
- Digital cameras
While you might appreciate the convenience of not having to save up to buy these things, you should also remember that shopping from home is a benefit in and of itself. You save money on gas but you also avoid the stress of driving, parking, and dealing with crowded malls, among other things!
Again, you are guaranteed approval, so right away you get the immediate benefit of knowing that you will have access to credit when you want it. The approval process, though, is very simple and very quick, which makes sense when you consider that they will not perform a credit check. Basically, you just have to give them a little personal information and you will have your account in as little as 60 seconds. When you are approved you could also qualify for a bonus cash advance and you could also elect to take advantage of roadside assistance service!
What You Need to Know
Just because you are guaranteed approval and do not have to worry about credit checks or interest rates does not mean that Provincial Trust Gold Card is completely free. In fact, this financial product could cost you a pretty penny if you are not aware of all the aspects of the program.
First of all, there is a significant account set-up fee that you have to pay when you establish your account. This charge is added to your balance and you can pay it at any time. Because there are no interest charges, you can take your time to pay it off, but that will also lower your available credit.
Secondly, there is a maintenance charge that you must pay every month. Rather, the charge is added to your account every month and you can pay it off whenever you are able to. Finally, there are other fees that you could be charged. These are representative of traditional credit card fees like:
- Late payment charges
- Missed payment charges
- Inactivity charges
This is what makes the Provincial Trust card more like a credit card. If you have trouble with making regular payments, a financial product like this might help you to learn because it restricts you from overextending your credit. This can help you later when you try to apply for new credit cards because you will be better prepared for the responsibilities.
If you are looking for a convenient alternative to traditional credit cards, you might appreciate the shopping program offered by the Provincial Trust Gold Card. You'll be able take advantage of great convenience without the concern of fees and interest rates.