I received an offer for a Compass Bank Mastercard a few months ago, and since I've been attempting to rebuild my credit lately, I decided to apply online and see what happened. I was immediately approved for a Mastercard, and needless to say, I was quite excited.
The terms of the card are not too bad. There was no enrollment fee, but the annual fee of $59 is deducted right away. I was given an initial amount of credit of $300, so after the $59 came out, I had $241 of available credit. The interest rate on the Compass Bank Mastercard is around 20 percent, not great, but at least I am establishing a good credit history.
I am happy with this card. Yes, the annual fee and the interest rate are a little high, but it is much better than the other cards out there that help rebuild credit. Compass Bank Mastercard is worth applying for if you have credit problems or are looking to establish credit history.