Other fees you will find associated with this card are the 3% foreign transaction fee, as well as the cash advance fee of $5 or 5% of the advance, whichever is higher.
Should you make a late payment, you will owe a fee comparable to the minimum payment amount- usually $29 and no more.
If you make another late payment on your next six credit card bills with the FIT Mastercard, your fee will be equal to the minimum payment or $40 at max.
You may also opt to add a second user to the card if you wish, but this will incur a one-time $30 fee.
However, the benefits do outweigh the drawbacks. For example, you will enjoy monthly access to your credit score. In addition, you do not have to worry about a security deposit.
It also provides a small limit, so you do not have to worry about going into debt over your head. That being said, do make sure you understand all the fees you will be expected to pay. To reiterate, you will be responsible for:
Do not forget the $30 fee if you plan to add an authorized user to the card as well, such as a spouse or partner.
- $400 limit right from the get-go, which could double with responsible use
- Find out if you’re qualified in just minutes
- Great chip card that is accepted anywhere Mastercard is taken
- Great for people with poor to fair credit
- Reports to the three major credit bureaus each month
- The card offers excellent fraud liability protection
- The interest rate is high
- Many fees will be charged to new users
Continental Finance is a company with many cards to choose from when you need a piece of plastic that can help you get some buying power and help rebuild your credit.
These cards feature similar terms and conditions, one of them being the Reflex Mastercard. The great thing about the Reflex is that you do not need a security deposit to get it.
With no deposit required, and poor/fair credit accepted, the Reflex Mastercard can be a real lifesaver. However, potential users payday loan Ripley online should be aware of the fees they will be required to pay.
Let’s begin with the good stuff- they report to all three major credit bureaus. This means that Equifax, TransUnion, and Experian will know your scores.
And, once you have had the card for over six months, you could apply to get a higher credit limit. This is great news for your credit utilization ratio and your buying power.
But back to those fees. For starters, you will be paying an annual fee ranging anywhere from $75 to $99. This is a relatively high fee, and it is based on the applicant’s creditworthiness.
This is big in comparison to other cards like it. You may wish to seek out an unsecured card with zero annual fees.
The monthly maintenance fee can be anywhere from zero to $10 each month after the first year of membership. In the worst-case scenario, your second year of membership with the card could cost you $219.
You must also be aware of the other fees that come with the card- for instance, the 5% cash advance fee (or $5) and the 3% foreign transaction fee (pretty standard for cards like this).
The card has no rewards program associated with it, but it does have some Mastercard benefits- the strongest one being the zero liability for unauthorized purchases made on your card.