The Bank of Missouri provides a wide range of personal and business financial services to residents of Missouri, including mortgages, car loans, and health savings accounts. With nearly 30 branches across the state in locations like Ozark and Springfield, bank members have easy access to their services.
Despite being a reputable financial institution, The Bank of Missouri offers some credit cards that are not ideal for consumers with low credit scores. These cards come with high fees and minimal benefits, making them less attractive options. It’s important to explore better alternatives, even for those with poor or no credit.
Here’s a detailed look at The Bank of Missouri’s credit cards, along with some superior choices.
Credit cards offered by The Bank of Missouri
The Bank of Missouri issues around 20 credit cards, some of which are in collaboration with Continental Finance and Concora Finance. These cards cater to different customer needs and preferences.
Certain cards offered by The Bank of Missouri are quite similar to each other. In the following sections, we highlight the similarities between these cards.
Aspire credit card
Depending on your creditworthiness, you may qualify for either the Aspire Mastercard or the Aspire Cash Back Rewards Card. The latter offers up to 3% cash back on select categories and 1% on all other purchases. However, both cards come with high fees and a minimum APR of nearly 30%, which can negate any rewards if you carry a balance.
The Aspire cards have an annual fee that can go up to $175 in the first year, followed by up to $49 annually. Additionally, there’s a monthly maintenance fee ranging from $5 to $15 after the first year. If you want an extra card for an authorized user, there’s a $19 fee. The bank also charges $2 for paper statements.
Alternative option: The FirstcardĀ® Secured Credit Builder Card doesn’t have an annual fee, late fees, or interest on unpaid balances. While it requires an initial deposit, you can get it back upon account closure.
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The Aspire credit card and the Fortiva credit card, also offered by The Bank of Missouri, share high fees and similar terms.
First Access and Total Visa credit cards
The First Access and Total Visa credit cards from The Bank of Missouri are quite similar in terms of their features. Both cards have a high APR of almost 36%, a $75 annual fee in the first year, a $48 fee thereafter, an $8.25 monthly fee after the first year, and an initial credit limit of $300.
Both cards also impose a $95 “program fee” that must be paid within 60 days of opening the account. Additionally, there’s a $35 fee for express shipping the cards to your home. While you can earn 1% cash back on purchases, the fees associated with these cards may outweigh any rewards.
Alternative option: The Capital One Platinum Secured Credit Card offers a more favorable option for those looking for a secured card with flexible deposit requirements.
MilestoneĀ® MastercardĀ®
The MilestoneĀ® MastercardĀ® from The Bank of Missouri comes with a high annual fee and monthly maintenance fee, along with potential overlimit fees. These fees can add up quickly and impact your overall credit card usage.
Alternative option: Consider the Mission Lane VisaĀ® Credit Card as a no-annual-fee alternative with similar benefits.
Verve credit card
The Verve card offers varying credit limits with corresponding fees, making it essential to understand the costs associated with each limit. Some fees are deducted from the available credit upon account opening, reducing the effective credit limit.
The Verve card is closely related to the FIT and Cerulean cards, all of which come with high fees and APRs. Understanding these fees is crucial before choosing a card.
