USA Optimum Gold Credit Card - Pros and Cons, Review

The USA Optimum Gold Credit Card, issued by USA Credit, is designed for those with poor to limited credit who are looking to establish or re-establish credit. Although the credit card does have a $149.95 account set-up fee, it is considered reasonable as compared to similar cards designed to establish credit, which can charge fees ranging anywhere between $200 and $400 for the first year of membership. In addition, this credit card has no annual fee and no interest rate on purchases. Anyone who applies for the credit card will be accepted based on the issuer’s “No Credit Check or Credit Turndowns” policy, though certain restrictions do apply (see website for details).

Those who become active members of the credit card will be glad to know that transactions will be reported to a major credit bureau as an unsecured credit card. Cardholders will also have access to a *free 30-day trial offer for the Elite Membership Status privileges, which include credit report access, roadside assistance, a health prescription discount card, and more. There is an optional monthly charge of $19.95 to continue membership after the trial expires, but if the cardholder maintains their Elite Membership Status in good standing for a minimum of six months, they will be eligible to receive a free $50 gift card. By ordering today, cardholders will also receive a $150 Account Payment Voucher that can be applied toward monthly payments.

So what’s the catch? The major drawback of the credit card is that it can only be used for retail purchases through the USA Shopping Club. In essence, the credit card is a retail charge card that can only be used for select purchases and/or services. However, this may or may not be a drawback for certain individuals.

Therefore, those looking for a low cost option to establish or re-establish and do not require a credit card for general everyday purchases will find the USA Optimum Gold Credit Card to be more than adequate.
Review Date: 9/22/2006

Most Attractive Feature(s): No APR; credit line is reported to a major credit bureau; no credit checks.
Least Attractive Feature(s): Can only be used as a retail charge card.

Additional Perks
Unlimited *free access to a credit report for 30 days.
Elite Status members will be eligible to receive a $50 gift card if they maintain their membership in good standing for a minimum of six consecutive months.
Receive a $150 Account Payment Voucher that can be applied toward monthly payments when you apply online.
*See website for additional benefits.

Important Notations
The credit line is reported to a major Credit Bureau.
Must be at least 18 and a U.S. citizen or permanent resident (excluding Wisconsin), with an active checking account, a monthly household income of at least $800 and no undischarged bankruptcies.
*No employment verifications.
*Guaranteed approval.
*No credit checks or turndowns.
*Pre-Approved.
*See website for terms and conditions.

Note: The review on this card was updated on 9/22/2006. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application. Credit card review information is provided by CardOffers.com, Inc.