Continental Finance Credit Card - Review
This card is a sub prime unsecured card. This means the Continental Finance Card is designed specifically for individuals looking for a second chance with credit.
When this card is issued it will give you an initial limit of $300. You will be able to receive semi-annual increases to your limit, with a maximum limit of $2000.
This card does report monthly to all three credit bureaus. It is frequently used as a second chance credit card.
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.
If you can improve these two factors you will improve your score. This is because these two factors are weighted almost as much as derogatory items on your credit report.
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.
It does offer 9.75% APR, which is well below the standard 19% APR that most sub prime credit cards offer. It is accepted at millions of locations worldwide.
There are easy approval requirements including no minimum income. You can still qualify for this card even if you have a recent bankruptcy on your credit. They offer an instant decision if you apply online.
This card is issued by the First Bank of Delaware. This bank has been a leader in sub prime lending for years.
You will also have online account access with your card. You will be responsible to keep your balance below your credit limit and to pay your monthly bill just like any card.
With a sub prime credit rating your other options include a secured credit card. This is a good choice however the account is reported to the credit bureaus as a secured account and you will receive less benefit to your score because it is secured.
The other option is a catalog card. This is a credit card that is only accepted at a specific location. Do not use these credit cards as they often come with large upfront fees and typically only report to one credit 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.
When this card is issued it will give you an initial limit of $300. You will be able to receive semi-annual increases to your limit, with a maximum limit of $2000.
This card does report monthly to all three credit bureaus. It is frequently used as a second chance credit card.
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.
If you can improve these two factors you will improve your score. This is because these two factors are weighted almost as much as derogatory items on your credit report.
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.
It does offer 9.75% APR, which is well below the standard 19% APR that most sub prime credit cards offer. It is accepted at millions of locations worldwide.
There are easy approval requirements including no minimum income. You can still qualify for this card even if you have a recent bankruptcy on your credit. They offer an instant decision if you apply online.
This card is issued by the First Bank of Delaware. This bank has been a leader in sub prime lending for years.
You will also have online account access with your card. You will be responsible to keep your balance below your credit limit and to pay your monthly bill just like any card.
With a sub prime credit rating your other options include a secured credit card. This is a good choice however the account is reported to the credit bureaus as a secured account and you will receive less benefit to your score because it is secured.
The other option is a catalog card. This is a credit card that is only accepted at a specific location. Do not use these credit cards as they often come with large upfront fees and typically only report to one credit 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.
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For more about the Continental Finance Credit Card or for a review of a suggested secured card the Orchard Bank Credit Card visit us.
posted by Credit Counseling at
6:11 PM
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