Continental Finance MasterCard - Bad Credit MasterCard
The Continental Finance MasterCard is an unsecured sub prime credit card. This means that this card is designed specifically for individuals with a low credit score.
This card has an initial credit limit of $300. With semi-annual credit limit increases up to a maximum limit of $2000.
You account will be reported monthly to all three credit bureaus. This will give you an opportunity to rebuild your credit score.
This will help your score because it will improve your ratio of debt to available credit. In addition you can create a positive payment history by paying your monthly bill.
If you can improve these two factors you will improve your score. This is because these two factors are weighted almost as much as derogatory items on your credit report.
This card is unsecured which means that you do not have to put a deposit down. However you will have to pay an annual fee. This is typical with sub prime cards.
It does offer 9.75% APR, which is well below the standard 19% APR that most sub prime credit cards offer. It is accepted at millions of locations worldwide.
There are easy approval requirements including no minimum income. You can still qualify for this card even if you have a recent bankruptcy on your credit. They offer an instant decision if you apply online.
This card is issued by the First Bank of Delaware. This bank has been a leader in sub prime lending for years.
With this card you will have free online account access. You will be responsible to pay your monthly bill and keep your balance below your limit.
The alternative is a secured credit card. However with this card it will take you longer to rebuild your score because this card is reported to the bureaus as a secured line of credit.
You also can qualify for a shopping card. We do not suggest these cards because they often come with large fees and only report to one credit bureau.
In sum we do suggest the Continental Finance MasterCard to anyone looking to re-establish their credit rating. This card will help by improving your ratio of debt to available credit and can build you a positive payment history.
This card has an initial credit limit of $300. With semi-annual credit limit increases up to a maximum limit of $2000.
You account will be reported monthly to all three credit bureaus. This will give you an opportunity to rebuild your credit score.
This will help your score because it will improve your ratio of debt to available credit. In addition you can create a positive payment history by paying your monthly bill.
If you can improve these two factors you will improve your score. This is because these two factors are weighted almost as much as derogatory items on your credit report.
This card is unsecured which means that you do not have to put a deposit down. However you will have to pay an annual fee. This is typical with sub prime cards.
It does offer 9.75% APR, which is well below the standard 19% APR that most sub prime credit cards offer. It is accepted at millions of locations worldwide.
There are easy approval requirements including no minimum income. You can still qualify for this card even if you have a recent bankruptcy on your credit. They offer an instant decision if you apply online.
This card is issued by the First Bank of Delaware. This bank has been a leader in sub prime lending for years.
With this card you will have free online account access. You will be responsible to pay your monthly bill and keep your balance below your limit.
The alternative is a secured credit card. However with this card it will take you longer to rebuild your score because this card is reported to the bureaus as a secured line of credit.
You also can qualify for a shopping card. We do not suggest these cards because they often come with large fees and only report to one credit bureau.
In sum we do suggest the Continental Finance MasterCard to anyone looking to re-establish their credit rating. This card will help by improving your ratio of debt to available credit and can build you a positive payment history.
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For more about the Continental Finance MasterCard or for a review of a suggested secured card the Orchard Bank MasterCard visit us.
posted by Credit Counseling at
6:56 PM
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