This is marketed as a regular unsecured credit card, meaning you don’t have to come up with a deposit like you do with secured cards. 1% cash back on eligible purchases including gas, groceries and phone services. All. Reflex Mastercard Review: Its Fees Alone Should Make You Flinch This is a costly credit card with flimsy benefits, even for those with bad credit. But even the credit-desperate have better choices. Just a dollar-for-dollar match. If you’re assigned a low limit, keep your balances low and pay them off quickly to improve your credit utilization. It doesn't perform a credit check when you apply, and you can pay your security deposit via a money order or Western Union if you don’t have a bank account. Key Takeaways. Alternate Pick: No annual fee, plus rewards. CreditCards.com does not include the entire universe of available financial or credit offers. And it, too, earns rewards: 1.5% back on all spending. The deposit would have to be paid before the account is opened. Reasonable efforts are made requires a deposit that determines your credit limit, but it can range from $200 to $2,500, so you have flexibility. » MORE: How do secured credit cards work? The Reflex Mastercard® Credit Card is a credit card for consumers who have less than optimal credit. , especially if you get hit with the monthly maintenance charge after the first year. Petal’s issuer can also use its own underwriting model to evaluate creditworthiness, considering such things as income, spending and savings. Expert review. You only plan to use the card for small purchases. Reflex Mastercard® ► 2020 Review, Application & Rates " Though it has a high interest rate, this card's sizable credit lines and reporting to the three major credit bureaus make it a very solid choice for applicants with a poor or fair credit history. While cash back and other rewards programs are uncommon among credit-building cards, they’re not unheard-of either. Like some other cards for people with bad credit, the, . It also comes with a cash back rewards program that can help reduce your total cost of ownership. Pre-qualified offers are not binding. When evaluating offers, please review the financial institution’s Terms and Conditions. The Reflex Mastercard offers new cardholders an initial credit limit between $300 and $750. 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. If you have limited or no credit — as opposed to bad credit — you can find alternative cards that have no annual fee and no security deposit requirement. Along with its high fees, the Reflex Mastercard charges a very high variable APR ranging from 25.9% to 29.99%. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. This is everything you need to know to make a good choice. Not so with an annual fee. No thanks, just go to the application. There’s no minimum spending or maximum rewards. With a secured credit card, the security deposit eventually comes back to you if you maintain a good payment history. Unfortunately, however, there’s no guarantee you’ll be approved for the unsecured version of the card. If you are experiencing this issue, then the Reflex Mastercard® credit card from Celtic Bank may be the answer you were looking for. $0-$120 annually, billed at up to $10 per month, after the first 12 months. Additionally, your annual fee is immediately assessed and deducted from your available credit. Useful. Like some other cards for people with bad credit, the Reflex Mastercard® Credit Card requires you to have a checking account. There is a, Get started with Reflex Mastercard® Credit Card. Sign In Sign Up Reflex Mastercard® Card Data last updated on October 13, 2020. » MORE: The big problem with easy-to-get subprime credit cards. may also offer you access to a higher credit line in as little as six months if you make your monthly payments on time. You want a chance at a higher limit than you’ll find on most unsecured credit-building cards. If you don’t pay your credit card bill, you’ll lose some or all of the deposit. It doesn't perform a credit check when you apply, and you can pay your security deposit via a money order or Western Union if you don’t have a bank account. Plenty of better options exist. The annual fee is $75 to $99. 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. There is a $35 annual fee, however. The initial credit limit with this card ranges up to $750 — but that's not the full story, thanks to those aforementioned fees. More on that later.). Additionally, there's a 5% cash advance fee ($5 minimum), and a 3% foreign transaction fee. Reflex Mastercard® is a credit card issued by Celtic Bank. True, it can help you build or rebuild credit. 1%. Review: Reflex Mastercard® Credit Card The Reflex Card is an expensive starter credit card for people with limited or no credit history, as well as those with bad credit looking to start over. See the online credit card applications for details about the terms and conditions of an offer. Get essential reads every week with our newsletter. Up to 1.5% cash back on every purchase after making 12 on-time monthly payments. It’s a fee-heavy card with high interest rates and low credit limits. Privacy Policy, Essential news and expert tips in your inbox every week. Given its high fees and limited perks, the Reflex Mastercard falls short of many secured cards. It is not our partner’s responsibility to ensure all posts or questions are answered. 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. Reflex Mastercard® Review. 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. He previously worked at the Chicago Tribune and wrote two money books. 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. If you're wondering whether Reflex Mastercard® is the right card for you, read on. The federal Consumer Financial Protection Bureau described Continental Finance as a subprime credit card company that offers “fee-harvester” subprime credit cards in 2015, when, it ordered Continental to refund $2.7 million, The big problem with easy-to-get subprime credit cards. 3 Star . Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews. It’s a real credit card, but it’s a costly one with limited benefits, even for those with bad credit. 7%. All Credit Cards Reviews. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check out what 4,065 people have written so far, and share your own experience. You’ll also have a chance at a credit limit increase if you make six consecutive on-time payments. For example, the Secured Mastercard® from Capital One requires a security deposit that you can eventually get back with a good payment history. Just a dollar-for-dollar match." The FIT Mastercard® Credit Card is purported to help you build credit even if you have no credit history. However, given that you have to pay the same annual fee and monthly fee, it becomes a very expensive secured credit card. Here is a list of our partners. Reflex MasterCard Credit Card Consumer Reviews, Credit Score and Income Needed, Credit Limits 53 Reviews. Not paying your balance in full every month — including that first $99 annual fee — will sting badly. The annual fee is $0. Riddled with fees, including an extremely high variable APR, the Reflex Mastercard is best seen as a last resort and stopgap for credit-builders. Your credit cards journey is officially underway. Continental Finance and its credit card products have an A+ rating from the Better Business Bureau (BBB), and thousands of Americans use its products to boost their credit scores. With the Reflex Mastercard® Credit Card, your first reflex should be to avoid it. 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. Please see our Terms of Use and Posting Guidelines for more information. Better options exist. By providing my email address, I agree to CreditCards.com’s 1 Star 2 Star 3 Star 4 Star 5 Star . While this is not the most impressive cash back rate, it should help to offset the card’s $39 fee. 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. Credit Card Reviews. 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