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Qualifying for a credit card can be tough if past financial missteps have hurt your credit score, but it’s not impossible. Certain issuers offer credit cards for those with less-than-perfect credit scores looking to rebuild their credit, including Concora.
Concora, founded in 2001, offers three consumer credit cards and one business card. Its cards have more lenient credit score requirements than others on the market, but — along with other drawbacks — Concora credit cards are expensive to carry.
Here’s what to know about Concora credit cards, plus potentially better alternatives, especially if your goal is building or rebuilding your credit.
1. Concora offers multiple credit cards
Concora’s first credit card, the Milestone card, was launched in 2011, followed by the Indigo and Destiny cards in 2015.
While many credit-builder cards are secured, requiring a deposit as collateral, Concora cards are unsecured. Besides being unsecured, its cards share some commonalities, though each is issued by a different bank.
Here’s an at-a-glance comparison of its three consumer cards:
2. Concora cards have hefty fees
Many unsecured credit cards have no annual fees, though those cards may have stricter credit score requirements than Concora. Unfortunately, one of the trade-offs for Concora’s more lenient credit score requirements is high fees. Here’s what to expect:
Let’s say you keep your Milestone card for three years, and during that time, you make your monthly payments on time and don't spend more than your credit limit. The card’s monthly and annual fees alone add up to $573 over three years.
Read more: 8 types of credit card fees you should know
Alternative to consider:
If you’d prefer a credit-builder card with no monthly or annual fees, check out the Capital One Platinum Secured Credit Card.
As its name suggests, the Capital One Platinum Secured is a secured credit card, meaning it requires a security deposit. But the deposit is flexible—you can choose to deposit $49, $99, or $200 and receive an initial credit line of $200. Depending on your creditworthiness, you could also get a higher credit limit of $500-$1,000. And with responsible use, Capital One lets you earn your deposit back and upgrade your card to an unsecured version. This card has a $0 annual fee.
3. High APRs apply
Besides high fees, Concora credit cards have higher-than-average annual purchase rates (APRs). Your APR is the interest rate (and any applicable fees) you’ll pay to carry a balance on your credit card. Per the Federal Reserve, the average credit card APR in the United States was 21.47% in November 2024. Unfortunately, a much heftier rate applies if you carry a balance on a Concora card. Here’s what to expect:
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Milestone: 35.9% (and 35.9% for cash advances)
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Indigo: 35.9% (and 35.9% for cash advances)
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Destiny: 35.9% (and 35.9% for cash advances)
Alternative to consider:
The Capital One Quicksilver Secured Cash Rewards Credit Card could be a good alternative to a Concora credit card, as its APR is 29.74% (variable).
This card has a $200 initial credit line and its minimum security deposit is $200, but you can get that deposit back and upgrade to an unsecured version if you use your card responsibly. There’s a $0 annual fee for this Capital One Quicksilver Secured Cash Rewards Card, and you’ll earn 5% on hotel and rental car purchases made through Capital One Travel and 1.5% cash back on everything else.
4. Optional over-limit and credit protection coverages are available
Concora offers optional over-limit protection for its cards, which is unusual for a credit card company. Typically, if you spend more than your available credit limit, your credit card will be declined. But if you opt into Concora’s over-limit protection, charges above your limit will go through. There’s a caveat, though: a $41 over-limit fee applies, and Concora can charge you two additional over-limit fees if your balance remains above your credit limit for multiple payment cycles. While it might seem like a good thing your card won’t be declined when making a purchase, the consequences of over-limit protection can get expensive — similar to bank overdraft fees.
You can also opt-in for credit protection coverage with Concora credit cards. With this coverage, your minimum payment or statement balance can be canceled if you experience a qualifying event, such as involuntary job loss, disability, or hospitalization. Concora’s credit protection coverage costs $1.49 per $100 monthly statement balance. So if you carry a $500 balance, your monthly fee will be $7.45.
Related: What are junk fees — and how can you avoid them?
5. No opportunities to upgrade
Certain credit card companies let you upgrade to an unsecured or higher-tier card after a history of responsible use, but there are no upgrade options with Concora. Instead, you’ll continue to pay monthly and annual fees — and possibly other fees for as long as you’re a cardholder. You won’t be able to offset these costs by earning cash back or other rewards on your purchases, as Concora doesn’t offer a rewards program.
Check out our top credit-builder card picks
Alternatives to consider:
Both the Capital One Platinum Secured and Capital One Quicksilver Secured Cash Rewards Credit Card let you upgrade to an unsecured version with responsible use. When you upgrade to an unsecured card, you’ll get your security deposit back, just as you would if you closed your secured card. Capital One doesn’t provide a set timeframe for when you can upgrade.
This article was edited by Rebecca McCracken
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