Fit Mastercard Credit Card Review 2022

The FIT Mastercard is an unsecured credit card with the possibility of a credit limit increase in as little as six months. The card comes with a $400 unsecured credit line, but you may increase your credit limit within six months if you use it.

The credit limit is usually set at $400 once you sign up. Individuals with FICO scores of 500 are eligible for Continental Finance’s Fit Mastercard. Because this is an unsecured card, there is no need to put down a security deposit to acquire a credit line. Secured options, on the other hand, need a monetary deposit.

Best Features of Fit Mastercard

The FIT Mastercard Credit Card has a $400 credit limit when you first apply. However, some setup and maintenance costs will lower your available credit. After 6 months, cardholders may be eligible for a credit limit increase, with a maximum limit of $2,000 available.

Consumers with bad or no credit may be eligible for this card due to the low qualifying standards.

The application process is simple and quick. After you’ve completed the application, you’ll be able to manage your account online. Your Fit Mastercard account may be managed online or via the app. The smartphone app is a simple way to keep track of fees and payments.

The Mastercard Zero Fraud Liability guarantee shields you from liability for unauthorized credit card transactions. Transactions done in-store, over the telephone, electronically, at an ATM, or through a smartphone are all covered by liability insurance.

Experian gives you free accessibility to your Vantage 3.0 score when you sign up for e-statements. The Fit MasterCard gives you access to your online account completely free of cost -. Seven days a week, 24 hours a day.

Furthermore, the card’s credit limit will determine how far you may stretch your current spending flexibility. While improving your credit score is almost always a positive experience for your financial future, your repayment behaviors determine it.

Pros of Fit Mastercard

You may fill out the application online, and if accepted, you’ll be able to use the mobile app to manage your account. A smartphone app is a straightforward tool for keeping track of everything from expenditures to repayments. Everything about your FIT Mastercard account may be managed online or through the app.

Due to its minimum qualifying requirements, users with bad or no credit may be qualified for this card. The FIT Mastercard may be a good alternative, despite its high cost, for people with bad credit who want to improve their credit or require a credit card for emergencies.

• Candidates with all levels of credit are encouraged to apply.
  
• The 3 major credit bureaus get monthly reports.
  
• Candidates with fair or low credit are considered.
  
• Multiple credit bureaus get reports from the FIT Mastercard.

Cons of Fit Mastercard

The Fit Mastercard has some demerits as well. An $89 one-time processing fee, a $99 yearly fee, a $6.25 monthly maintenance cost (waived for the first year), and a 3% international transaction fee are all charged to FIT Mastercard Credit Card customers. These costs may be equivalent to the cancellation fee you’d pay to receive a secured credit card, and they might raise your balance and restrict your credit limit.

Following are the cons of Fit Mastercard

• The interest rates are too high.
  
• The yearly price is rather high.
  
• Purchase APRs that are higher than average.
  
• There is a $99 yearly cost.
  
• There is no registration incentive available.
  
• There are no incentives or cashback options available.
  
• It charges a 3 percent international transaction charge.
  
• You don’t get points for every purchase you make.
  
• Many credit card features are not included.

APR Rates and Fees

The FIT Mastercard is around $78 more costly than a standard credit card when calculated yearly. It also costs $99 more than the best-secured credit cards.

• 300-640 credit score range
  
• Fees for international transactions – 3%
  
• Fee for transferring funds – N/A
  
• The cost is $99 per year.
  
• $89 for one-time fees
  
• The maximum penalty for being late is $40.

Once a year is over, there is a $6.25 monthly cost. Consider canceling the Fit Mastercard after a year when applying. Otherwise, an already pricey credit card will become even more so. Furthermore, if you properly maintain your account, you should be able to improve your score within a year.

Who Shouldn’t Use Fit Mastercard?

Fit Mastercard is not a good choice if you require a credit card for international travel. A 3% international transaction charge might soon mount up if you anticipate using your card while traveling. Every time you use your card, you will be charged 3% of the total transaction value. 

For those trying to reduce the amount of fees they pay, you would be better off with a less-priced credit card for individuals who prefer an unsecured alternative like this. The interest rate is 29.99 percent Annual Percentage Rate(APR), but that’s just the beginning.

This is an extremely expensive choice due to the $89 one-time processing charge, $99 yearly fee, $6.25 monthly maintenance expenses (beyond the first 12 months), $40 late fines, and hefty international transfer and cash advance fees.

Final Word

The FIT Mastercard® is a credit card to check if your credit score is in the mid 500s. The Fit credit card has an advantage over these cards in that if you pay on time for the first six months, your credit limit will quadruple from $400 to $800. It also has features that other cards don’t, such as a mobile app and free credit reports.

When you have got bad credit or are trying to create credit, you may feel that your options are restricted. However, this doesn’t mean that you should use a credit card with outrageous fees if you don’t have to. 

While the Fit Mastercard may be an excellent choice if you want to focus on repairing your credit with a negligible credit card, you should carefully evaluate the card’s high cost before applying.

Unsecured credit cards for people with this credit score have charges equivalent to the Fit Mastercard. They all have annual costs, monthly fees after the second year, and a one-time application or activation fee. However, it’s very important to note that there are other cards with lower fees that will raise your credit limit after 6 months of timely payments.

Although the FIT Mastercard® may be a good option if you focus on rebuilding your credit using an unsecured credit card, you should carefully consider its high fees and hefty price tag before applying. 

Even for people with no past credit history, the FIT Mastercard® Credit Card’s high fees prevent it from fulfilling its purpose as a bank card. These costs might eat into a credit limit that is already low, making it difficult to utilize it for even routine transactions.

Compare a variety of secured cards that might better suit your budget for stronger, friendlier choices for developing or restoring your credit.