Continental Finance MasterCard - Review
Review of the Continental Finance MasterCard, a credit card designed for those with a low credit score. This card can create a positive payment history and improve your available credit to debt ratio.
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.
Your card will report monthly to all three major credit bureaus. Thus providing you a way to re-establish and rebuild your credit score.
This card can help your credit score because by paying your monthly bill you will create a positive payment history. In addition by opening this account it will improve your ratio of credit to debt.
These two factors carry a lot of weight when your credit score is being calculated. We do encourage you to remove any derogatory items on your credit report too.
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.
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.
The 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.
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 MasterCard and with proper use you can rebuild your credit score. You don't have to just live with bad credit you can take steps to improve your score and lower the cost of getting credit.
