Reflex Mastercard credit cards are specifically made for people with bad credit. It will double your credit limit after six months, but you have to have a checking account to get approved. The annual fee is small. Continue reading to learn more about this credit line for people with bad credit.
Reflex Mastercard: A credit card for people who have bad credit
Reflex Mastercard credit cards are available to people with bad credit. This card provides a low-interest credit line with a credit limit of $200-$1,000. This amount is increased automatically after you make six monthly payments. Reflex Mastercard has this feature, which is something that many cards don't offer. However, there are high fees for the card and an annual fee.
Reflex Mastercard is not recommended for people with poor credit. The interest rate is quite high, despite the fact that the card has a low initial credit limit. The eligibility requirements include a thorough credit history review and an examination. Pre-qualification is an option if your credit score is not in good standing.
After 6 months, it doubles your credit limit
Reflex Mastercard creditcards offer an increase in credit limits after six consecutive months of timely payments. This feature is designed to improve credit utilization and reduce interest costs. However, this credit card comes with a $30 annual fee for each authorized user. To avoid a high interest rate, you should always pay off the balance of your card in full each month.
Reflex Mastercard - An unsecured credit cards that are not suitable for those with exceptional credit. Instead, it is designed for those with a low credit score and an average credit limit of $1,000. If you follow the instructions and maintain good financial habits, your credit limit can double after six months. This card also reports your balance and payment history to all three credit bureaus.
It charges an annual fee
Reflex Mastercard charges a $30 annual fee per card. Your credit limit will automatically be increased after six months of timely payments. This is an important feature if you are concerned about your 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. It is important that you pay your monthly balances in full to avoid high interest rates.
Reflex Mastercard applications are quick and simple. Before applying, you can check your credit eligibility by completing the free pre-qualification application. It won't affect your credit score and only takes a few moments to complete. After you have been approved, your card will be sent to you and you will be notified. You can also activate your card in 7-10 business days.
To approve the application, you need a checking bank account
Reflex Mastercard, a card from Celtic Bank, comes with a variable rate of interest and a small credit limit. It is great for building credit if you have a bad credit history or do not have a bank account. It is possible to build credit by paying on time on your balance.
Reflex credit cards can be applied online or by phone. In order to apply, you need to give your Social Security number and date of birth. You also need information about your employment. Within two to three days of submitting your application, you will receive a decision. Reflex Mastercard includes multiple benefits, including no monthly charge.
It offers $0 fraud liability
Reflex Mastercard offers a variety of benefits, including zero liability for fraudulent transactions. Once you open an account, you can use it in any Mastercard-accepting establishment. After six months of on-time payments, you may be eligible for a higher credit limit. Your score is based upon the total amount of credit available. A higher limit on credit can help you improve both your score as well as the percentage of credit you have available. Reflex Mastercard sends monthly reports on your activity to all three major credit bureaus. This will help you quickly improve your score.
Reflex Mastercard will charge a $30 once-off fee. Experian will provide you with a VantageScore credit score of 3.0. Additional, you will get free estatements, which contain your VantageScore 3.0 score. This feature is a great way to have peace of mind with your Reflex Mastercard.