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.
Your card will be issued with an initial credit limit of $300. However you will be able to received semi-annual credit limit increases, with 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.
These two factors have a tremendous impact on your credit score. It is still important to remove bad credit items from your credit reports.
This card is unsecured which means there is no initial deposit, however because of your low credit score they will charge you an annual fee. Unfortunately this is an unavoidable cost and you will have a fee with any credit card you open with a damaged credit score.
The benefit of this card is the very low 9.75% APR. The industry standard on sub prime cards is just under 20%. Your card can be used at millions of locations across the globe.
There is an easy approval process, and can be used by people with a bankruptcy on their credit history. You will get the results of your application with seconds of completing it online.
This card is issued by the First Bank of Delaware. This bank has a long history of lending in the sub prime market.
In addition you will receive online account access. This card works just like any other credit card, you will be responsible to pay your monthly bill.
Your other option for a credit card with a damaged credit score is a secured card. However this card is reported as a secured line of credit to the bureaus which will help your score but not as much as an unsecured account.
Or you can get a shopping card. We do not suggest these cards because they come with monthly fees, a large deposit and often only report to one bureau.
In sum we do suggest the Continental Finance Card to anyone looking for a second chance with credit. You can use this card to re-establish your credit score and build positive credit because it will improve your ratio of debit to available credit and can create a positive payment history.
Your card will be issued with an initial credit limit of $300. However you will be able to received semi-annual credit limit increases, with 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.
These two factors have a tremendous impact on your credit score. It is still important to remove bad credit items from your credit reports.
This card is unsecured which means there is no initial deposit, however because of your low credit score they will charge you an annual fee. Unfortunately this is an unavoidable cost and you will have a fee with any credit card you open with a damaged credit score.
The benefit of this card is the very low 9.75% APR. The industry standard on sub prime cards is just under 20%. Your card can be used at millions of locations across the globe.
There is an easy approval process, and can be used by people with a bankruptcy on their credit history. You will get the results of your application with seconds of completing it online.
This card is issued by the First Bank of Delaware. This bank has a long history of lending in the sub prime market.
In addition you will receive online account access. This card works just like any other credit card, you will be responsible to pay your monthly bill.
Your other option for a credit card with a damaged credit score is a secured card. However this card is reported as a secured line of credit to the bureaus which will help your score but not as much as an unsecured account.
Or you can get a shopping card. We do not suggest these cards because they come with monthly fees, a large deposit and often only report to one bureau.
In sum we do suggest the Continental Finance Card to anyone looking for a second chance with credit. You can use this card to re-establish your credit score and build positive credit because it will improve your ratio of debit to available credit and can create a positive payment history.
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For more about the Continental Finance Card or for a review of another suggested unsecured sub prime card the Tribute Card visit us.
posted by Credit Counseling at
10:21 AM
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