Shawn Manaher
Shawn Manaher
Updated on November 16, 2022
today card

When looking for credit cards, you may have heard of the Today Card. But what is it, who is it for, and should you get it?

The Today Card is a MasterCard designed for those with bad credit. It has a fairly high annual fee and a high APR, so you will always want to pay your bill in full. If you know you won’t carry a balance and need a credit card, then it is worth considering. But you may also want to look at options with lower fees.

Take a closer look at the details of the Today Card to decide if it is right for you.

Today Credit Card: Your Complete Guide

The Today credit card comes from Capital Community Bank in Utah and XTM, a fintech company. Explore more details about this card, including its high fees and the fact that you can be approved with bad credit.

What Is A Today Card?

The Today Card MasterCard is specifically designed to help people with bad credit repair their credit score. It is an unsecured card, something that can be hard for people with bad credit to get. However, anyone applying should be aware of the high interest rates and high fees.

How Does Today Card Work?

This credit card works just like any other unsecured credit card would. When you are approved, you will not have to make a security deposit. Interestingly, there is no information on limits for new cardholders. As such, you should think about your finances and use them as a guide instead of the credit limit the Today Card gives you.

Because Today Card reports your on-time payments to the credit bureaus, using it and paying on time will improve your credit score.

Be Aware Of High Fees And APR

The Today Card can be a good choice if you are struggling to be approved for another unsecured credit card because of your credit score and don’t want to use a card that requires a deposit. But you need to be aware that in exchange for being able to get this secured card, you will be subject to high fees and a high APR.

High Purchase APR

One of the biggest things to be aware of is the high purchase APR. The interest rates on the Today Card MasterCard are regularly over 30%. This makes it one of the cards with the highest purchase APRs. That is even true among unsecured cards for those with bad credit.

This is theoretically fine if you are absolutely certain that you won’t carry a balance. But if there is any chance you will carry a balance, you should rethink getting the Today Card. You may want to apply for other options for people with bad credit instead.

High Annual Fee

As mentioned, the Today Card MasterCard charges an annual fee in addition to having a high purchase APR. The fee is $10 a month or $120 a year, but it is billed monthly. While this fee is annoying and a reason to reconsider the card, it is there for a good reason. It helps offset the risk associated with offering the card to people with lower credit scores.

For reference, there are unsecured credit cards for those with bad credit that have lower annual fees. Most will, however, have an annual fee of some sort.

Your Credit Limit

The credit limit you initially get when you apply for the Today credit card will not be your limit forever. The issuing bank and fintech company monitor your credit score, and if it increases, you may be eligible for an increase. If you pay on time and keep your credit utilization rate low (under 30% of the limit), you may be eligible for an increased limit in just six months.

How Today Card Helps You Build Your Credit Score

As mentioned, the Today Card can help you build your credit score as long as you use it responsibly. This comes down to the fact that the card issuer shares your payment history with both TransUnion and Experian. (The website does not mention sharing your payment history with Equifax, so your credit score from that bureau may not improve).

But remember that you need to pay on time for this to improve your credit score. If you make late payments, your credit score could possibly drop even more. As mentioned, you will also want to be careful with your credit utilization and try not to use more than 30% of your credit limit. The good news is that your limit will increase as your credit score increases, making it easier to keep your credit utilization rate low.

The Today Card MasterCard Mobile App

The Today Card also has a mobile app that is available for both Apple and Android devices. You can use the app to easily manage your account securely and easily no matter where you are. Use it to look at your balance and details of transactions.

At a glance, the app shows you:

  • Your current balance
  • Your available credit
  • Your last statement balance
  • Your statement minimum due
  • Your payment due date

Your current balance and available credit are shown both in numbers and visually, making it easier to see where you stand in seconds.

You can also make payments on the mobile app. When paying, you can choose to make a minimum payment, pay your current balance, or pay a custom amount. The payment will then come from your linked bank account. The app also features Smart Controls. This feature lets you turn your card off or on at any time. That is an incredibly convenient anti-fraud measure.

Monitor Your Credit Score

Another incredibly useful feature of the mobile app is TodayView. This gives you unlimited access to your credit score from TransUnion. You will see your score written out numerically and in a visual, color-coded representation. You can even set up alerts to let you know when your score changes.

Text Alerts

Although this is not technically in the mobile app, the text alerts offered by Today Card are worth mentioning. You can set them up to notify you about your balance or payment due and more. This is a great way to stay on track of your balance and payments.

How To Pay Your Balance

As mentioned, you can pay your balance via the mobile app. But you can also do so using traditional methods, such as mailing a check or via the phone. You get your choice of payment methods, including:

  • Debit card
  • ACH transfer from your bank account
  • Check
  • Money order

It is worth noting that after the first billing cycle is complete, you can contact Today Card MasterCard to change your due date. This may, however, take as long as eight weeks to go into effect. In the meantime, your old due date will still apply.

Automatic Payments

You can easily set up automatic payments for your Today Card MasterCard. This is one of the best ways to ensure that you always pay on time. Remember that paying on time is one of the best ways to boost your credit score. On top of that, don’t forget that paying on time is important because of the high-interest rate of this credit card.

One unique feature of the Today Card’s automatic payments is the ability to link more than one bank account. This is a rare feature, even among cards for those with good credit. This adds more versatility to adapt to your changing financial situation.

Protection And Benefits From Mastercard

Because the Today Card is a MasterCard, you get all of the benefits and protections that you would expect from any other MasterCard.

Use It Anywhere MasterCard Is Accepted

To start, you can use the Today Card MasterCard anywhere that MasterCard is accepted. This includes online, in stores, and more.

Fraud Protection

One of the most important features of the Today Card that comes courtesy of it being a MasterCard is fraud protection. This is zero-liability fraud protection. On top of that, you receive instant notifications when potential fraud is detected. Combine that with the ability to enable or disable your card in the mobile app, and you can take action immediately.

There are two main requirements to be eligible for zero-liability fraud protection, both of which are easy and you should do anyway. The first is to use reasonable care in terms of protecting your card from theft or loss. The second is to report the theft or loss promptly.

Contactless Payments

The Today Card MasterCard features contactless payment. As such, you can pay without having to take your card out of your hands. Just hold it or tap it on the contactless payment reader, and you will be all set. MasterCard won’t require you to sign at the checkout. But some merchants may, so this is a possibility.

Today Card Reviews

Today Card reviews are overall good. It has a 4.5/5 rating on TrustPilot with 486 reviews so that rating should be fairly accurate. The negative reviews mostly mention the ridiculously low minimum payments (that lead to carrying a balance) and less-than-stellar customer support. The positive reviews mention the ease of applying and the fact that the card works like any other MasterCard.


The Today Card MasterCard is an unsecured credit card designed for people with bad credit. It is a very good choice if you are struggling to be approved for a credit card, but you may want to look for options with lower APR and lower annual fees before applying.

Shawn Manaher

Shawn Manaher

Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author.

He's been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What's Your Story, and more.

He loves to share his personal finance tips and money management wisdom with others to help them find financial freedom.
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