While such fees will be almost impossible to avoid if you’re looking for an unsecured credit-building card, a few alternatives offer a wider range of potential annual fees, based on your creditworthiness. CreditCards.com does not include the entire universe of available financial or credit offers. Card Features. Terms apply. All reviews are prepared by CreditCards.com staff. This means credit-builders should carefully consider which cards they apply for and only try for those that offer decent approval odds. If you opt for a secured credit card instead, you can have a bit more control over your credit limit, as your limit will usually match your security deposit. Unfortunately, however, there’s no guarantee you’ll be approved for the unsecured version of the card. While both cards offer reasonable, manageable credit limits and the chance at a credit limit increase after just six months, they also have factors that applicants should be … If you’re only approved for the minimum credit line of $300, however, your account will be reviewed for a credit limit increase after 12 months. If you’re only approved for the minimum credit line of $300, however, your account will be reviewed for a credit limit increase after 12 months. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Free Credit Score. I love the reflex master card. It also comes with a cash back rewards program that can help reduce your total cost of ownership. I have gotten an increase. ! You’ll also have to pay a foreign transaction fee of 3% when you use the card abroad and a $30 fee for each authorized user you add to your account. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. You can request a credit limit increase after 6 months of on-time payments, $75-$99 per year, plus $0-$120 per year (assessed as $0-$10 monthly) in maintenance fees after your first year, Features: Free access to your Vantage 3.0 score from TransUnion when you sign up for e-statements, $0 fraud liability for unauthorized charges, chance at instant approval, preapproval available. Given its high fees and limited perks, the Reflex Mastercard falls short of many secured cards. Our editorial and consumer star ratings are based on independent reviews and not influenced by compensation and affiliate relationships. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. The Reflex Mastercard should offer good approval odds even if you have poor or average credit, but it is an extremely expensive way to build your credit – especially if you need to hang onto the card for more than a year. Instead, wait for an automatic review — whether it’s your Reflex Mastercard® or your Hilton Honors American Express. I have max out on increase amd ready for the next card and level. See related: How long does it take to rebuild credit? The card charges a variable interest rate and has a lower-than-average line of credit, though this credit line may increase with financial responsibility. to maintain accurate information. A number of Credit One Bank credit cards, for example, offer at least 1% cash back on some everyday purchases. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. The card also offers a chance at instant approval for online applications, so you may not need to wait days or weeks to hear back on the status of your application. The Reflex Mastercard® Credit Card comes with a host of fees, including a $75 to $99 annual fee, a monthly fee of $0 to $10 starting from the second year, and you’ll get a high APR between 25.9% to 29.99% variable with no grace period. See the online credit card applications for details about the terms and conditions of an offer. If you are trying to build up your credit, getting a credit limit increase is a milestone achievement. Your Total Monthly Income * Total monthly income is required. And while it’s still not the cheapest option, the card offers good approval odds even with poor credit. I pay my bills on time, I just don't have any history because no one will approve me! If you’re willing to put down a refundable deposit, secured credit cards could save you even more, as many charge much lower annual fees. Products. Though the Reflex Mastercard reports to the national credit bureaus and could help you improve your credit with responsible use, its high cost makes it hard to justify for most credit-builders. But watch out for the fees. Use your Reflex card at locations everywhere Mastercard is accepted. The latest batch seem to be for the Reflex Credit Card (I haven’t linked to it, because I don’t want it to rank in the search engines). Raising your credit limit could also give your credit score a boost if you're able to improve your credit utilization ratio.While you may know how to ask for a higher credit limit, you might be wondering whether timing matters. Consider these alternatives, all of which are unsecured credit-building cards that offer cash back rewards programs that will help offset any fees. Ask the Credit Card Issuer Directly It is not our partner’s responsibility to ensure all posts or questions are answered. Additionally, your annual fee is immediately assessed and deducted from your available credit. This is on top of your regular annual fee, meaning you could be paying as much as $219 annually after your first year, just to have a Reflex Mastercard account. Enjoy all these and more when you increase your credit limit today: Greater financial flexibility; Improved lifestyle; Shopping sprees; Fine Dining; Travelling; For more information, please call RHB PhoneBanking at 03-9206 8118 for Peninsular Malaysia (available 24 … This is what makes the Reflex Mastercard shine, as it’s rare to see your purchasing power grow in a card for bad credit. Request a credit limit increase after six months of on-time payments. However, all credit card information is presented without warranty. ! If you have general questions regarding your credit card account, call Cardmember Service at the phone number on the back of your credit card. You want a chance to build credit without tying up money in a deposit. Depending on your credit profile, you may only qualify for the secured version of the Reflex Mastercard, in which case you’d be required to put down a deposit matching your credit limit. You get a chance to practice good financial habits and build your track record as a responsible cardholder, which will help you qualify for better terms in the future. Additionally, since the issuer considers alternative credit data in its approval decisions, it’s a great option for someone with limited credit but a good income and bill payment history. The monthly/annual fee will be billed to the credit card or other billing source provided by you when you purchased credit monitoring, on the first day of your purchase and each successive membership term. You’ll also enjoy $0 fraud liability for unauthorized charges. New credit card applications almost always result in a hard pull of your credit report, which will temporarily lower your credit score. Thank you Reflex!! Copyright © 2020 CreditCards.com a Red Ventures Company. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. CreditCards.com is an independent, advertising-supported comparison service. Reasonable efforts are made Meanwhile, the Reflex Mastercard’s high-end APR rivals that of many store credit cards, which are known for their eye-popping interest rates. However, if you’re set on an unsecured card, the Reflex Mastercard may be worth it for the first year, if only as stepping stone to better credit and better cards. Along with its high fees, the Reflex Mastercard charges a very high variable APR ranging from 25.9% to 29.99%. The card carries a ton of fees, an extremely high APR and next-to-nothing in the way of perks. Getting a credit line increase could help your credit because having a roomier credit line will help to lower your debt utilization – which is one of the bigger factors in your credit score. If you would like to apply for another product, please select the "Apply Now" button. So, if you've got a perfect payment history, a good idea would be to just contact them about it and make your case. A Reflex Mastercard ® with an initial credit limit that ranges from $300 to $750 gives you the financial clout you need. Reflex Mastercard® Features Possible Credit Limit Increase After Just 6 Months You may be eligible for your first credit limit increase after just 6 months. The card is issued by Celtic Bank and managed by Continental Finance Company, which has been around since 2005 and is the same company behind the Verve Card and Fit Mastercard.They claim to offer, “credit cards for consumers with less-than … Calculate Your Monthly Income Primary Source of Monthly income * Primary Source of Monthly income * Each month, the payments you make on the Reflex Mastercard® Credit Card are reported to the three major credit bureaus—Equifax, Experian, and Transunion—which may help raise your score if you are paying on time and using your new credit card responsibly. Keep an eye on your inbox—we’ll be sending over your first message soon. Whether you have bad credit or average credit, you should be able to find an unsecured credit-building card with a lower APR. These perks are certainly welcome, but they’re far from impressive. While cash back and other rewards programs are uncommon among credit-building cards, they’re not unheard-of either. Once you’re approved, your Reflex Mastercard and welcome materials should be mailed within three business days. The offers that appear on this site are from companies from which CreditCards.com receives compensation. You will only use a fraction of your total amount of credit. That said, the card does include a couple of useful perks. You’ll earn 1% back on eligible purchases to start, with this rate increasing to 1.25% after you make six on-time monthly payments and to 1.5% after 12 on-time monthly payments. Pay off your card balance in full each month to avoid high interest charges. The Reflex Mastercard® Credit Card is issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC under license from Mastercard® International. Paying at least the minimum payment is important if you want to improve your credit score. Founded in 2005, CFC prides itself on its corporate responsibility to customers in terms of providing three cornerstone characteristics: a strong customer support program, fair treatment, and responsible lending. Check the data at the top of this page and the bank’s website for the most current information. The information, including card rates and fees, presented in the review is accurate as of the date of the review. In general, each credit limit increase request can cause a small, short-term drop in your credit score. While this range is quite low compared to the limits available on credit cards for people with excellent credit, the high-end limit is relatively high for an unsecured credit-building card. Due to its extremely high cost of ownership and enormous APR, the Reflex Mastercard is hard to recommend even for those with severely damaged credit. This is an interesting card because it can be both an unsecured credit card and a secured one as well depending on whether they approve you for an unsecured credit line or if you have to put up a security deposit. I wish someone would give me a small credit limit card so I can increase my score. Anyone with a poor credit score can apply for this card, and they're most likely going to get approved for it too. You’ll also have a chance at a credit limit increase if you make six consecutive on-time payments. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. But it's nothing to worry about, and getting an increase will help your score long-term. Though you may well end up paying $99 annually with each of those cards, you at least have a chance at a lower fee. Get essential reads every week with our newsletter. Such monthly fees are uncommon even among credit-building cards. I went from 545 to 711 in 14 months. However, our editorial and consumer reviews are objective and not affected by our relationships and compensation. The Reflex Mastercard offers new cardholders an initial credit limit between $300 and $750. Alternatives to the Reflex credit card. You only plan to use the card for small purchases. Below are some viable options to consider. Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. While not a guarantee of approval, being prequalified will give you some peace of mind about your odds of approval. If you are looking to build your credit, there are better options available.. Credit Cards. Credit One Bank® Visa® for Rebuilding Credit. Privacy Policy, Essential news and expert tips in your inbox every week. Continental Finance Company ("CFC") is one of America's leading marketers and servicers of credit cards for consumers with less-than-perfect credit. Your credit cards journey is officially underway. Additionally, your credit card may be charged a non-refundable $1 fee. The number is 866-946-9545. The Reflex Mastercard is designed for people with a damaged or limited credit history (and a credit score of 580 or better). This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. The Reflex Credit Card is a below-average credit card for beginners. Since maintaining low credit utilization is key to building credit, be sure to keep your spending in check if you’re assigned a lower limit, and consider paying off your balance more than once per month to keep your utilization ratio low. The Reflex Mastercard® can help you build credit with all three bureaus and you might get offered the unsecured version. Riddled with fees, including an extremely high variable APR, the Reflex Mastercard is best seen as a last resort and stopgap for credit-builders. Shopping, dining, even travel are all in your future with your new Reflex credit card. Some secured credit cards and most credit-builder loans also offer relatively low, fixed interest rates. Whether or not you purchase CONTINENTAL CREDIT PROTECTION will not affect your application for credit or the terms of any existing credit agreement you have with The Bank of Missouri. Credit Limit Increase. While this is not the most impressive cash back rate, it should help to offset the card’s $39 fee. REFLEX gave me a credit line increases from $500 to $800 and I'm not even using the card. And the fees don’t stop there. If you have a limited credit history or are looking to repair your bad credit, signing up for a new credit card can be a great first step. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. The stronger your credit, the better it is for both the credit card issuer and for you, the customer. After your first 12 months as a cardholder, the Reflex Mastercard also charges a monthly maintenance fee ranging from $0 to up to $120 annually, billed at $0-$10 per month. The Reflex card is a credit card that is well known in the bad credit credit card community for its utility. 1% cash back on eligible purchases including gas, groceries and phone services. 1% cash back on eligible purchases right away. I stopped using the REFLEX Card 3 months after I got it. Privacy Policy. Introduction The Reflex Mastercard is one of a few credit cards by Continental Finance that is issued by Celtic Bank. Below are they key highlights: See if you’re Pre-Qualified with no impact to your credit score, Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements), Monthly reporting to the three major credit bureaus, Fast and easy application process; results in seconds, Use your card at locations everywhere Mastercard® is accepted. By providing my email address, I agree to CreditCards.com’s