Unfortunately, the Reflex Mastercard is no exception. Along with its high fees, the Reflex Mastercard charges a very high variable APR ranging from 25.9% to 29.99%. 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. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. Pay off your card balance in full each month to avoid high interest charges. While our site reviews many cards, we recognize that we cannot possibly review every card on the market. You’ll also have a chance at a credit limit increase if you make six consecutive on-time payments. 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 Reflex Mastercard® Credit Card is issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC under license from Mastercard® International. Then watch your credit score rise. Reasonable efforts are made 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 … Credit One Bank® Visa® for Rebuilding Credit. When you click on Your initial credit limit is set to $300, 500$, or $750, but you can increase it after just six months of use. It is not our partner’s responsibility to ensure all posts or questions are answered. I have gotten an increase. Every six months with on time payments. But it's nothing to worry about, and getting an increase will help your score long-term. 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. 1. Credit One Bank Platinum Visa. I love the reflex master card. The card’s low-end APR is nearly 60% higher than the current average credit card APR and is high even compared to that of cards designed for bad credit. Depending on when lenders report your balance to the credit bureaus, you might have a high balance … A number of Credit One Bank credit cards, for example, offer at least 1% cash back on some everyday purchases. If you have received a direct mail offer from us, please select the "Accept mail offer!" REFLEX gave me a credit line increases from $500 to $800 and I'm not even using the card. It's an integral tool purposefully designed for anyone who is looking to improve their credit score. Ask the Credit Card Issuer Directly Riddled with fees, including an extremely high variable APR, the Reflex Mastercard is best seen as a last resort and stopgap for credit-builders. Privacy Policy, Essential news and expert tips in your inbox every week. Customers receive an initial line of credit but can increase that credit line after making their first five monthly payments on time. Introduction The Reflex Mastercard is one of a few credit cards by Continental Finance that is issued by Celtic Bank. I pay my bills on time, I just don't have any history because no one will approve me! So, in some cases, the best time to ask for a credit card increase is never. 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. I got this mailer today to apply for a Reflex Visa (with no rewards): Credit Limit: $500 APR: 30.49% Annual Fee: $125 first year, $96 - 4854180 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. The Reflex card is a credit card that is well known in the bad credit credit card community for its utility. By providing my email address, I agree to CreditCards.com’s The catch is that cards designed for credit-builders tend to be burdened with harsh terms, including high interest rates, big penalties and exorbitant fees. If you are looking to build your credit, there are better options available.. 1% cash back on eligible purchases right away. Additionally, your annual fee is immediately assessed and deducted from your available credit. Terms apply. You plan to switch to a different card as soon as your credit score improves. CONTINENTAL CREDIT PROTECTION is an OPTIONAL Program you can purchase to protect your credit card. The Capital One® Platinum Credit Card is an attractive choice for people with a limited credit history. Most notably, you’ll get free access to your Vantage 3.0 score from TransUnion when you sign up for e-statements. It also comes with a cash back rewards program that can help reduce your total cost of ownership. You want a chance at a higher limit than you’ll find on most unsecured credit-building cards. After all, free access to your credit score and fraud liability coverage are the bare minimum needed if you want to protect and keep tabs on your credit. My credit score is 533, I don't have any credit cards or loans, therefore I can't build my credit! Continental Finance Company ("CFC") is one of America's leading marketers and servicers of credit cards for consumers with less-than-perfect credit. Fortunately, cards like the Surge and Reflex Mastercard make repairing credit straightforward. This means if you’re assigned a $300 limit and a $99 annual fee, you’ll start off your card membership owing $99, with $201 available to spend – just two-thirds of the credit limit you may have expected. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. See related: How long does it take to rebuild credit? The Reflex Credit Card is a below-average credit card for beginners. I stopped using the REFLEX Card 3 months after I got it. 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. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. 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). These perks are certainly welcome, but they’re far from impressive. I wish someone would give me a small credit limit card so I can increase my score. So, if you've got a perfect payment history, a good idea would be to just contact them about it and make your case. Calculate Your Monthly Income Primary Source of Monthly income * Primary Source of Monthly income * Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. Privacy Policy. 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. This is what makes the Reflex Mastercard shine, as it’s rare to see your purchasing power grow in a card for bad credit. New credit card applications almost always result in a hard pull of your credit report, which will temporarily lower your credit score. In fact, we have turned down relationship request from issuers that want to influence our reviews. The Reflex Mastercard®, issued by Celtic Bank, is one of many credit cards for bad credit or no credit score at all. Reflex Mastercard® provides free access to Vantage 3.0 when you sign up for e-statements. A number of secured cards charge no annual fee, offer lower APRs and higher credit limits and give you the chance to “graduate” to an unsecured card if you use your card responsibly. 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. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Plus, there’s no guarantee you’ll be approved for the unsecured version of the card. For questions specific to this credit line increase offer, please call 1-866-863-8940 Monday through Friday between 8 a.m. and 11 p.m. EST or Saturday and Sunday between 10 a.m. and 8 p.m. EST. As an unsecured credit card, one of the Reflex Mastercard’s main selling points is that it could give you the chance to build credit without putting down a deposit. The offers that appear on this site are from companies from which CreditCards.com receives compensation. 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. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. $0-$95 first year, $0-$99 each additional year. Paying at least the minimum payment is important if you want to improve your credit score. The offers that appear on this site are from companies from which CreditCards.com receives compensation. The OpenSky® Secured Visa® Credit Card, for example, charges all cardholders just $35 per year, while the Discover it® Secured and Secured Mastercard® from Capital One charge no annual fee at all. Thankfully, you can check if you prequalify for the Reflex Mastercard before you apply. Credit One Bank Visa for Rebuilding  Credit, Unlike the Reflex Mastercard, the Credit One Bank Visa for Rebuilding Credit does not charge a monthly maintenance fee. While not a guarantee of approval, being prequalified will give you some peace of mind about your odds of approval. Calling up your credit card company to ask for a credit line increase can give you more purchasing power if you're approved. If you would like to apply for another product, please select the "Apply Now" button. And while it’s still not the cheapest option, the card offers good approval odds even with poor credit. Your credit cards journey is officially underway. Though you may well end up paying $99 annually with each of those cards, you at least have a chance at a lower fee. Boosting your credit limit is a real achievement, and in this case, it comes with a couple of additional features. Luckily, though, you may be able to increase your Reflex Mastercard credit limit after as little as six months of on-time payments. Below are some viable options to consider. Luckily, though, you may be able to increase your Reflex Mastercard credit limit after as little as six months of on-time payments. You want a chance to build credit without tying up money in a deposit. People who are looking to start out and have no prior credit history can benefit from this card as well, as approval is secure an… 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. This is especially disappointing given the card’s high fees, as even 1% back on select purchases would help offset the Reflex Mastercard’s high cost of ownership. The Reflex Mastercard® can help you build credit with all three bureaus and you might get offered the unsecured version. The stronger your credit, the better it is for both the credit card issuer and for you, the customer. Get essential reads every week with our newsletter. 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 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. Keep an eye on your inbox—we’ll be sending over your first message soon. By providing my email address, I agree to CreditCards.com’s Potential Credit Limit Increase After Six Months: While the initial credit limit maximum on the Reflex Card is $500 if you make six months of on-time payments you automatically become eligible for an increase in your limit up to a maximum of $1000. If you’re assigned a low limit, keep your balances low and pay them off quickly to improve your credit utilization. Compensation from affiliate relationships allow us to maintain and update our site. Capital One QuicksilverOne Cash Rewards Credit Card, Credit One Bank® Visa® for Rebuilding Credit, Petal® 2 "Cash Back, No Fees" Visa® Credit Card. If you are trying to build up your credit, getting a credit limit increase is a milestone achievement. Credit Cards. I recommend getting a $300 secured Discover card and make timely payments for 6 months. 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. 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. Unfortunately, however, there’s no guarantee you’ll be approved for the unsecured version of the card. Compensation may impact how and where we place products (for example, the order which they are placed on a category page). ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. Free Credit Score. 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. But, as we mentioned above, if an issuer should pull a copy your credit report, this will result in a hard inquiry being placed on your credit report. The Reflex Credit Card’s APR, at 25.9% - 29.99% (V), is among the highest offered to newcomers right now. The Reflex Mastercard is designed for people with a damaged or limited credit history (and a credit score of 580 or better). 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 … Limit the number of authorized users you add to the card, as each new user incurs a $30 fee. But watch out for the fees. 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. 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. 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. Credit Limit Increase. If you have any doubt about your ability to pay your card balance in full each month, you should avoid the Reflex Mastercard. Card Features. 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. Some secured credit cards and most credit-builder loans also offer relatively low, fixed interest rates. I have max out on increase amd ready for the next card and level. Anyone with a poor credit score can apply for this card, and they're most likely going to get approved for it too. Up to 1.5% cash back on every purchase after making 12 on-time monthly payments. If you feel that the reflex credit card might not be a good option or you, there are hundreds of other cards designed for people with bad credit. A Reflex Mastercard ® with an initial credit limit that ranges from $300 to $750 gives you the financial clout you need. A unique credit-building offering that’s geared more toward people with no credit than those with poor credit, the Petal 2 Visa Credit Card allows you to earn true cash back with no deposit and no fees of any kind. 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. As you can see, the Reflex Mastercard is an expensive credit-building option and is not a card you’ll want to hang onto for any longer than is necessary.Â. Reflex Mastercard® 2020 Review, Application & Rates ... - How Many Capital One Cards - How To Increase Your Credit Limit - Most Exclusive Credit Cards - No Interest Credit Cards ... After you click on an offer you will be directed to the credit card issuer's web site where you can review the terms and conditions for your offer. Additionally, your credit card may be charged a non-refundable $1 fee. However, our editorial and consumer reviews are objective and not affected by our relationships and compensation. This can help your credit utilization and give you more room to breathe. The cards also offer a unique reward for good payment behavior: After making payments on time for the first five months of owning the card, cardholders are eligible for a credit limit increase—without a hard inquiry on their credit reports. button. Some of the cards that appear on our site are from companies that we receive compensation from. Free automatic account reviews for credit limit increases. In the big picture, this is how you increase your creditworthiness. Given its high fees and limited perks, the Reflex Mastercard falls short of many secured cards. That said, the card does include a couple of useful perks. Such monthly fees are uncommon even among credit-building cards. The standard interest rate is 26.99% (Variable), which applies to new purchases and cash advances. 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. 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. 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’ll also enjoy $0 fraud liability for unauthorized charges. Once you’re approved, your Reflex Mastercard and welcome materials should be mailed within three business days. 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. However, if you are cautious, only charge a tank of gas or Netflix subscription on your Reflex card. I went from 545 to 711 in 14 months. The Reflex Mastercard offers new cardholders an initial credit limit between $300 and $750. However, all credit card information is presented without warranty. To start, you’ll pay an annual fee of between $75 and $99 just to maintain your account. 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. In most cases, a secured card will be a better credit-building option. See the online credit card applications for details about the terms and conditions of an offer. Products. 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. Our editorial and consumer star ratings are based on independent reviews and not influenced by compensation and affiliate relationships. Plus, it’s an unsecured card, so you won’t have to tie up hundreds in a deposit just to get started. You only plan to use the card for small purchases. 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 … And the fees don’t stop there. One of my favorite things to do is to review these cards, in the hopes that somebody will read the review before thinking about applying and end up with a vast array of much better options. 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. for your Credit Report. 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. Check the data at the top of this page and the bank’s website for the most current information. Keep an eye on your credit score, and switch to a card with fewer fees and better terms when it improves. Shopping, dining, even travel are all in your future with your new Reflex credit card. Instead, wait for an automatic review — whether it’s your Reflex Mastercard® or your Hilton Honors American Express. CreditCards.com does not include the entire universe of available financial or credit offers. Your Total Monthly Income * Total monthly income is required. to maintain accurate information. 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. The Milestone® Gold Mastercard®, for example, charges an annual fee of between $35 and $99, and the Credit One Bank® Visa® for Rebuilding Credit charges $0 to $99. The Reflex Mastercard is from Continental Finance and issued by Celtic Bank. The number is 866-946-9545. Use your Reflex card at locations everywhere Mastercard is accepted. You don’t anticipate needing to carry a balance from month to month. All reviews are prepared by CreditCards.com staff. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. Request a credit limit increase after six months of on-time payments. Of course, there’s no guarantee you’ll be offered a $750 limit. The card carries a ton of fees, an extremely high APR and next-to-nothing in the way of perks. 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. In general, each credit limit increase request can cause a small, short-term drop in your credit score. While cash back and other rewards programs are uncommon among credit-building cards, they’re not unheard-of either. Designed for cardholders looking to bolster their credit scores, the Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase. Meanwhile, the Reflex Mastercard’s high-end APR rivals that of many store credit cards, which are known for their eye-popping interest rates. Cash advance fee: $5 or 5% of the amount of each cash advance (whichever is greater), Foreign transaction fee: 3% in U.S. dollars (or $1, whichever is greater), Account reviewed for possible credit limit increase after 6 months of on-time payments, Includes free access to your Experian credit score and $0 fraud liability, Pre-qualify and see what kind of fee you’re offered before you apply, Issuer considers alternative credit data (like income and bill payment history) when evaluating applications, not just credit score, Includes money-management tools and free credit reporting. Example #2: Assume your credit limit is $1,000 and you spend roughly $800 every month on your credit card before paying it off completely every month.It can still appear that you’re using 80% of your available credit—even though you pay off your entire balance and never pay any interest. They have really helped me build my credit. Unfortunately, the Reflex Mastercard offers nothing in the way of rewards. Even compared to cards designed for people with bad credit, the Reflex Mastercard carries an inordinate number of fees, making it a costly credit-building option, especially after your first 12 months as a cardholder. 1% cash back on eligible purchases including gas, groceries and phone services. ! 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. Consider these alternatives, all of which are unsecured credit-building cards that offer cash back rewards programs that will help offset any fees. Whether you have bad credit or average credit, you should be able to find an unsecured credit-building card with a lower APR. This means credit-builders should carefully consider which cards they apply for and only try for those that offer decent approval odds. All credit types welcome to apply! 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. Thank you Reflex!! While this is not the most impressive cash back rate, it should help to offset the card’s $39 fee. 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. 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. I love the reflex master card. 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. Of course, that requires you to put down money up front. You will only use a fraction of your total amount of credit. 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. All Rights Reserved. And, even more importantly, the Reflex Card’s combination of annual and monthly fees. See related: Best high limit secured credit cards. ! CreditCards.com is an independent, advertising-supported comparison service. 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. Alternatives to the Reflex credit card.