At its core, the FIT™ Platinum Mastercard® is a tool for financial empowerment. It recognizes that not everyone has access to traditional credit options, and it aims to bridge that gap by offering a credit-building solution.
Whether you're just starting to establish your credit history or you're looking to rebuild your credit after a setback, the FIT™ Platinum Mastercard® can be a valuable asset.
FIT™ Platinum Mastercard®
- $400 credit limit doubles to $800! (Simply make your first 6 monthly minimum payments on time)
- All credit types welcome to apply
- Monthly reporting to the three major credit bureaus
- Initial Credit Limit of $400.00 (Subject to available credit)
- Fast and easy application process; results in seconds
- Use your card at locations everywhere Mastercard® is accepted
- Access to your Vantage 3.0 score from
- Experian (When you sign up for e-statements)
- Checking Account Required
FIT™ Platinum Mastercard® Review
The FIT™ Platinum Mastercard®, issued by Celtic Bank and serviced by Continental Finance is designed specifically for individuals who are looking to build or rebuild their credit.
One of the standout benefits of the FIT™ Platinum Mastercard® is its ability to help you build or rebuild your credit. By making timely payments and managing your account responsibly, you can improve your credit score over time. This opens up doors to better interest rates on loans, mortgages, and other financial opportunities.
But that's not all – the FIT™ Platinum Mastercard® also offers additional perks like online account management and fraud protection. These features can easily help you keep track of spending.
FIT™ Platinum Mastercard® processing fee
The FIT Platinum Mastercard processing fee is $89. But there also other fees to consider including:
- Annual fee: $99 for the first year, then $125 thereafter.
- Monthly maintenance fee: $12.50, but waived for the first year.
- Cash advance fee: $10 or 3% ofthe cash advance amount, whichever is greater.
Foreign transaction fee: 3% of each transaction in U.S. dollar
Building credit with the Fit Mastercard
The FIT™ Platinum Mastercard® is designed to be a powerful tool for building or rebuilding your credit. By making timely payments and managing your account responsibly, you can gradually improve your credit score over time. This process can take patience and discipline, but the long-term benefits are well worth the effort.
One of the key ways the FIT™ Platinum Mastercard® supports credit-building is through its reporting to the major credit bureaus. Each month, your payment history and account information are reported to Experian, Equifax, and TransUnion. This ensures that your responsible financial behavior is accurately reflected in your credit report, which can positively impact your credit score.
Additionally, the FIT™ Platinum Mastercard® offers a range of credit education resources to help you understand the credit-building process better. Through informative articles, budgeting tips, and interactive tools, you can learn how to manage your credit effectively and make informed decisions about your financial future.
This knowledge can empower you to take control of your credit and make the most of the FIT™ Platinum Mastercard®'s credit-building capabilities.
FIT™ Platinum Mastercard® fees and charges
While the Fit Mastercard does have some fees, it's important to weigh them against the overall benefits of the card. The credit-building capabilities, fraud protection, and other features can make the fees a worthwhile investment in your financial future. Additionally, many of the fees can be reduced or waived through responsible card usage and account management.
FIT™ Platinum Mastercard® Pros and Cons
Pros
- Starting limit ranges up to $400
- You don’t need a perfect credit history
- No security deposit required
- Reports to all three credit bureaus
- You may qualify for twice your credit limit after six months of timely payments
Cons
- Expensive fees and APR
- No rewards or perks
Alternatives to the FIT™ Platinum Mastercard®
While the FIT™ Platinum Mastercard® is a compelling option for those looking to build or rebuild their credit, it's not the only choice available. There are several alternative credit cards that may also be worth considering, each with its own unique features and benefits.
One potential alternative is the Opensky Secured Visa from Capital Bank. This card requires a refundable security deposit, which becomes your credit limit. As you make on-time payments, Capital Bank makes periodic reviews to your account and potentially increases your limit without requiring an additional security deposit.
The OpenSky Visa can be a good option for those with limited or poor credit history.
Final takeaway
While the Fit Mastercard does have some fees, it's important to weigh them against the overall benefits of the card. The credit-building capabilities, fraud protection, and other features can make the fees a worthwhile investment in your financial future. Additionally, many of the fees can be reduced or waived through responsible card usage and account management.
