Reflex Mastercard is a credit line that's specifically for those with low credit scores. It will double the credit limit for you after six months. But, to be approved, it requires that you have a valid checking account. You will also have to pay a small annual fee. You can read on to learn about this credit-card for people with poor credit.
Reflex Mastercard: A credit card for people who have bad credit
The Reflex Mastercard is a credit card that can help people with bad credit. The card offers a low-interest credit line and a $200-$1,000 credit limit. After you make six monthly payment, this amount will automatically increase. Reflex Mastercard is the only card that offers this benefit. The drawback is the high annual fees and high fees associated with the card.
Reflex Mastercard may not be the best choice for people with bad credit. The interest rate is quite high, despite the fact that the card has a low initial credit limit. You must also meet strict eligibility criteria. This includes a credit review. You can apply for pre-qualification if you have concerns about your credit history.
It doubles your credit limit after 6 months
Reflex Mastercard creditcard offers credit limit growth after six months with on-time payments. This feature can increase your credit utilization, and it can also save you money on interest. The credit card has a $30 annual fee per authorized user. Avoid high interest rates by paying your balance in full each month.
Reflex Mastercard, an unsecured credit card, is not intended for people with good credit. This card is for those with low credit scores and a credit limit less than $1,000. If you follow the instructions and maintain good financial habits, your credit limit can double after six months. In addition, this card reports your payment and balance history to all three credit bureaus.
It has an annual fee
Reflex Mastercard charges $30 an annual fee. Your credit limit will be automatically increased after six consecutive months of paying on time. This is a very important feature for those concerned about credit utilization. But, late fees may apply if you can't pay your monthly payments on time. These late fees may add up to 30% to your monthly balance. As a result, it's important to pay off your balances in full each month to avoid paying high interest rates.
Reflex Mastercard's application process is simple and fast. Pre-qualification is a free tool that will help you determine your credit eligibility. It won't affect your credit score and only takes a few moments to complete. Once your application is approved, you will receive your new card and be informed of your decision. You can activate your card in seven to ten days.
You will need to have a checking or savings account in order to approve it
Reflex Mastercard is a Celtic Bank credit card. It comes with a variable-interest rate and a very small credit limit. You can use it to build credit even if your credit score is not great or you don't have one. Paying on-time on your balance can help you build your credit score.
Reflex credit card applications can be made online or by telephone. Your Social Security number, birth date, and employment information are required to apply. After you submit the application, you can expect to receive a decision within two to three business days. The Reflex Mastercard comes with multiple benefits, including no monthly fee.
It covers $0 of fraud liability
Reflex Mastercard offers many benefits, including zero liability in the event of fraudulent transactions. You can open an account and use it at any Mastercard-accepting establishment once you have opened it. You might be eligible to have a higher credit limit after six months of making on-time payments. Your score is set based on the total amount of available credit, so a higher credit limit can help you improve your score and decrease the percentage of available credit that you have to use. Reflex Mastercard also reports your activity to the three major credit bureaus each month, so you can see your score improve quickly.
Reflex Mastercard charges a one-time fee of $30. Experian provides a VantageScore 3.0 credit score as an additional benefit. You'll also receive free e-statements that include your VantageScore3.0 credit score. This feature is a great way to have peace of mind with your Reflex Mastercard.