Fit Mastercard – How to Apply
Need to rebuild credit with quick approval and no deposit? The FIT Mastercard could be a good option.
With no security deposit required, a chance to double your credit limit, and monthly reporting to the major credit bureaus, this card is designed for individuals with poor or limited credit history who want a path to improvement.
Fit Mastercard
No security deposit required High APRHow does the FIT Mastercard work?
The FIT Mastercard is an unsecured credit card issued by Continental Finance and intended for people who need to build or rebuild their credit.
Unlike secured cards that require an upfront cash deposit, the FIT Mastercard gives you an initial $400 credit limit without tying up your money.
Main benefits of the FIT Mastercard
The FIT Mastercard offers several advantages for those working on their credit. First, the fact that it’s unsecured makes it accessible to people who don’t have the savings for a security deposit. This lowers the barrier to entry for many users.
It also comes with standard Mastercard protections, including fraud liability coverage and access to your VantageScore through Experian when you enroll in e-statements.
These tools help you track your progress and keep an eye on your financial behavior.
The application process is simple and fast. You can pre-qualify online with no impact to your credit score, and approvals are typically issued quickly. For those who want to get started immediately, this streamlined process is a major plus.
The card is accepted wherever Mastercard is, which includes millions of merchants worldwide. It also doesn’t charge a foreign transaction fee, making it convenient for occasional international use.
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Cons of the FIT Mastercard
Although it offers convenience and credit-building opportunities, the FIT Mastercard has several drawbacks that you need to consider before applying.
The biggest concern is the cost. The card charges a one-time processing fee of $95 just to open the account.
There’s also an annual fee of $99 in the first year, and a $75 annual fee thereafter. Starting in the second year, a monthly maintenance fee of $6.25 is added, which adds up to $75 annually.
Its purchase APR is a fixed 35.99%, which is significantly higher than average. If you carry a balance, this rate can quickly generate expensive interest charges.
There are no rewards or cash back features, meaning you won’t earn anything in return for your purchases.
In addition, your available credit can be eaten up by fees as soon as the account opens.
For example, if you start with a $400 credit line, after the initial fees are deducted, your available spending could be less than $300.
This card also doesn’t offer a promotional APR or balance transfer options, and because of the high interest and multiple fees, it’s not a good long-term solution unless you pay off your balance in full every month.
APR and Fees
The FIT Mastercard carries a number of costs that users must keep in mind. The one-time processing fee is $95, and the annual fee is $99 for the first year.
After the first year, the annual fee drops to $75, but a monthly maintenance fee of $6.25 begins, totaling $75 per year.
The fixed APR on purchases is 35.99%, which makes it one of the higher interest rates in the market.
If you miss a payment or carry a balance, the interest costs can quickly outweigh the benefits.
Late and returned payment fees can be up to $41. While there is no foreign transaction fee, the total cost of using this card remains high unless managed with discipline.
How to apply for the FIT Mastercard
Applying for the FIT Mastercard is a quick and straightforward process. You can visit the card’s official website and click on the “Apply Now” button to begin.
To qualify, you must be at least 18 years old, have a valid Social Security number, and provide proof of income.
The application can be pre-qualified with no impact to your credit score, and once approved, you’ll need to pay the one-time processing fee before the card is issued.
After activating your card, you can begin using it for purchases and making on-time payments to build your credit.
If used responsibly, the FIT Mastercard can serve as a stepping stone toward a healthier financial future.
