FIT Platinum Mastercard Review 2024

It's a challenge to access or build credit when you have poor credit or little to no credit history. The card_name from Continental Finance is one of many credit-building credit cards geared toward individuals with poor credit. It's an unsecured card, meaning you don’t need to make a security deposit to get one, as you do with many credit cards for bad credit.

The card_name offers credit-building features, such as monthly credit score access and credit bureau reporting. It also charges a number of fees, not just an annual fee, making it an expensive choice for improving your credit.

TIME’s Take

The card_name is one of a handful of credit cards offered through Continental Finance. Similar to the card issuer's other offerings, it is aimed at consumers with poor or no credit. As you might expect, the card provides no cash back or point rewards, coming with only basic card features and tools for improving your credit. It has a low initial credit limit of $400, but cardholders can qualify to make that $800 with consistent on-time payments in the first six months. After that additional credit limit hikes are possible with application and review, up to $4,000.

What sets the card_name apart—and not in a good way—is the card's fee structure. It's an expensive affair to get one compared with other credit-building cards. Continental Finance charges cardholders multiple fees, including a annual_fees annual fee, a monthly maintenance fee (waived the first year), and a one-time $89 processing fee. Several credit-building cards exist with low or no annual fees that offer similar or better benefits than the FITt Platinum Mastercard.

Pros and cons

Who is the card for?

The card_name is for individuals who are looking for a credit-building credit card and want to avoid paying a security deposit. Because of its fee structure and high annual percentage rate (APR), the card_name is not a good card for anyone who has established credit or wants to build credit without paying fees.

Features

You won't receive many perks with the card_name, but it does come with a few features ideal for cardholders who want to build their credit.

Credit limit increase

The card_name comes with a lower initial credit limit of $400 if you're approved for the card. Luckily, you can qualify to double your credit limit by making the first six monthly minimum payments on time. A maximum credit limit of $4,000 is possible with repeated application and review.

Monthly payment reporting

Continental Finance reports card payments each month to the three major credit bureaus: TransUnion, Experian and Equifax. By making on-time payments and keeping your credit utilization ratio low, you can improve your credit score and profile.

Free monthly credit score

Cardholders who choose e-statements receive free monthly credit score access. You can view your Experian Vantage 3.0 score each month to see your progress as you use the card_name and make responsible payments.

Zero liability protection

As a Mastercard, the card_name comes with Mastercard Zero Liability Protection. You are not held responsible for any unauthorized charges on your credit card.

The fine print

Interest Rates

• Regular APR: reg_apr,reg_apr_type variable.
• Purchase intro APR: intro_apr_rate,intro_apr_duration.
• Balance transfer intro APR: balance_transfer_intro_apr,balance_transfer_intro_duration.

Fees

• Annual fee: annual_fees.
• Processing fee: $89.
• Monthly maintenance fee: $75 (billed at $6.25 per month), but waived for the first 12 months.
• Foreign transaction fee: foreign_transaction_fee.
• Balance transfer fee: balance_transfer_fees.
• Cash advance fee: cash_advance_fee
• Additional card fee: $30.
• Late payment fee: Up to late_payment_fee.
• Returned payment fee: Up to $41.

What could be improved

Annual fees are common with credit cards, but with additional monthly and processing fees, the card_name is an expensive card to have. Continental Finance waives the monthly fees for the first 12 months, but still adds an extra expense for individuals who need more time to build their credit and eventually qualify for a better credit card.

Card alternatives

Bottom line

Consider your situation and requirements to decide if the card_name is right for you. Are you willing to pay multiple fees for access to credit? Review the list of features above to see if it offers enough value or if another credit-building card would be a better fit.

Frequently asked questions (FAQs)

What is the card_name?

The card_name is a credit-building credit card available from Continental Finance. It carries a annual_fees annual fee plus a variety of other fees, including monthly maintenance and processing fees. The card offers basic features, including monthly credit reporting, credit limit increases, and free monthly credit score access, when you sign up for e-statements.

What credit score do you need for a card_name?

Continental Finance doesn't publicly share credit score requirements for its credit cards, but the card_name is geared toward individuals with poor credit. All credit types are welcome to apply.

What is the credit limit for the card_name?

The card comes with an initial credit limit of $400, with the possibility to double your limit to $800 total by making the first six monthly payments on time. Ultimately, you can raise your limit to $4,000, but you must periodically apply for an increase and be passed by review each time.