Fit Mastercard Review — The Right Fit for You?
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While the Fit Mastercard may be a good option if you want to focus on rebuilding your credit with a no-frills credit card, this card's hefty fees and high price tag should be strongly considered before you apply.
7/10
Fees
6/10
Bonuses
6/10
Credit building
7.5/10
Cash back
6/10
If you have poor or bad credit and are trying to rebuild your credit profile, this is where Fit Mastercard may be an option for you. Not all of us have high credit scores, and if you’re someone who is trying to improve their score by showing responsibility with a credit card, then you may be interested in the Fit Mastercard.
But improving your credit score will come at a price with this card. It is packed full of fees, and the closer we look into the details, the more it reveals it may not be the best option in the market.
Jump To
What is the Fit Mastercard Credit Card?
Credit cards fall into two categories: secured and unsecured. The Fit Mastercard is an unsecured option, which means you do not need to pay a security deposit to establish a credit line. Secured options require the cardholder to put money down. Secured credit cards may not report your payment information to the credit bureaus, which is a significant negative if you’re improving your credit score.
Continental Finance issues the Fit Mastercard, a credit card marketing company explicitly targeting consumers with less-than-perfect credit.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
How does the Fit Mastercard Credit Card work?
The application process can be completed online. You’ll have to provide personal details, such as name, address, birth date, and social security number, and answer a few other questions. If your application is accepted, you can use the Fit Mastercard anywhere Mastercard is accepted.
How much does the Fit Mastercard Credit Card cost?
If you want this card, then it’s going to cost you. First, you have to pay an $89 one-time processing fee. Then there is a $99 annual fee billed to your credit card once per year on your card anniversary. The APR is 29.99%, one of the highest you will find.
For the first 12 months, you won’t have to pay a monthly maintenance fee, but after the 12 months are up, you will be charged $6.25 every month for simply owning the card. A cash advance will cost 5% of the transaction if you ever need a cash advance. And if you need to use your card overseas, you will be charged 3% of each transaction in foreign transaction fees.
Features
Increased credit line over time
An initial credit line of $400 is offered. This may be ideal for those who want to start small while improving their credit. Once your credit line is in place, you can use the card for all the shopping, traveling, dining, and entertainment — anywhere a Mastercard payment is accepted.
After six months, a review will be conducted, and a possible credit line increase could occur. If you make on-time payments for the first six months, $800 could be offered a new credit line.
Credit reporting and monitoring
How you use your credit card, including making on-time payments, will be sent to the three major credit bureaus — Experian, Equifax, and TransUnion — each month. This could assist you in rebuilding your credit if there is positive information being communicated each month.
When you receive your monthly statement, you will receive a snapshot of your credit score with a copy of your Vantage 3.0 score from Experian. This is helpful for those monitoring their scores regularly to see where they stand. However, if you want the complete detail behind your credit score, then access your free credit reports via annualcreditreport.com. As a consumer, you are entitled to three free copies per year.
Includes Mastercard Zero Fraud Liability
Thanks to the Mastercard Zero Fraud Liability guarantee, you won’t be held responsible if you have any unauthorized transactions on your credit card. This applies to any purchases you make in a store, over the telephone, online, at an ATM, or from your smartphone.
Digital account management tools
You can complete the application online, and then if approved, all account management is at your fingertips. The Fit Mastercard allows you to manage all aspects of your account online or via the app. The app is an easy-to-use tool that will enable you to track everything from charges to payments.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
Who is the Fit Mastercard best used for?
If you are trying to rebuild your credit. For those who have poor credit and are trying to improve their credit profile or have a credit card for emergency use only, the Fit Mastercard may be an expensive option.
You want a small credit line before committing to a larger one. If you find it challenging to maintain a lower credit utilization (how much credit you use from your credit line), this card could be a good fit. It starts with a $400 credit line and will only increase to $800 after six months.
Who shouldn’t use the Fit Mastercard?
Those who are trying to limit the amount they pay in fees. You may be better off with a less expensive credit card for those who want an unsecured option like this. The interest rate is 29.99% APR, but that’s only the beginning.
The $89 one-time processing fee, the $99 annual fee, the $6.25 monthly maintenance costs (after the first 12 months), the $40 late fees, plus high foreign transaction and cash advance fees, make this a very pricey option.
If you need a credit card for overseas travel. A 3% foreign transaction fee can add up quickly if you need your card while traveling. Each time you use your card, you’ll be charged 3% of the total amount of the transaction.
Pros and Cons
Pros
- A credit card option for those who have poor credit or no credit.
- Reports to the three credit bureaus each month.
- Can manage your account online or through the mobile app.
- Small credit line to manage spending temptations.
Cons
- It’s a pricey option, with an $89 one-time processing fee plus an annual $99 fee.
- Hefty monthly maintenance fees apply. After the first 12 months, you will be charged a $6.25 ongoing monthly fee.
- High foreign transaction fees and cash advance fees.
- No rewards, sign-up bonus or perks program.
The Fit Mastercard vs. other secured credit cards
The Fit Mastercard isn’t the only market option for people trying to rebuild or start their credit journey. Secured credit cards are also available, which require you to pay a security deposit to establish a credit line. How does the Fit Mastercard compare to other popular choices?
Card | Security deposit required | APR | Annual Fee | Rewards |
Fit Mastercard | None | 29.99% | $99 | None |
Discover it® Secured | $200 minimum | 27.74% | $0 | Up to 2% unlimited cash back |
Capital One Platinum Secured Credit Card | Either $49, $99 or $200 depending on applicant | 29.99% | $0 | N/A |
Surge | None | 29.99% | $75 to $99 | None |
Discover it® Secured Credit Card
Discover It® Secured Credit Card
Card Name
Discover It® Secured Credit Card
APR
28.24%
Recommended Credit Score
N/A
Annual Fee
$0
Rewards Rate
Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Earn unlimited 1% cash back on all your other purchases automatically. 2x cash back with Cashback Match, get an unlimited dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
Why We Like It
- Credit-building credit card with limit you set with your deposit.
- Automatic review in 7 months to see if you can transition into an unsecured line of credit and return your deposit.
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card
Card Name
Capital One Platinum Secured Credit Card
APR
29.99%
Recommended Credit Score
Limited, Bad
Annual Fee
$0
Special Offer
No annual or hidden fees.
Special Offer Terms
See if you're approved in seconds.
Rewards Rate
N/A
Terms
Why We Like It
- No annual or hidden fees.
- You could earn back your security deposit as a statement credit by making on-time payments.
- Be automatically considered for a higher credit line in as little as six months with no additional deposit needed.
- Monitor your credit score for free with CreditWise from Capital One.
Surge
Surge
Card Name
Surge
APR
25.90% to 29.99%
Recommended Credit Score
N/A
Annual Fee
$0 monthly fee for the first 12 months. $10.00 per month starting the second year.
Why We Like It
- Initial credit limit up to $1,000 doubles up to $2,000
- Mastercard Zero Liability Protection
- Monthly reporting to the three major credit bureaus
Card Details
- Initial Credit Limit of $300 - $1,000 with all credit types welcome.
- Make at least your first six monthly minimum payments on time and your Initial Credit Limit up to $1,000 doubles up to $2,000.
- Reports to all three credit bureaus and provides free Vantage 3.0 score.
Raise Your Credit 80 points*
- 5 star service trusted by over 450,000 members
- Have processed over $11,000,000 in bill payments for members
- No deposit, no credit check, no interest
- New member promotions available
*Potential increase based on StellarFi member data. StellarFi numbers observed an average of 80 points VantageScore® 3.0 increase during a member’s lifetime. Score increase based on members with an incoming score range of 300-499 pts, who made regular on-time payments, with regular on-time payments. Results may vary.
FAQs
How quick is the application process for the Fit Mastercard?
Once you apply for the Mastercard online, the approval could be as soon as a few minutes. However, if your application needs further review, the Fit Mastercard website says it could take up to 30 days to process.
Does applying for the Fit Mastercard impact my credit score?
Yes, if you submit an application for the Fit Mastercard, or virtually any other credit card, then a hard pull will be added to your credit report. In some cases, this can harm your credit score, possibly even decreasing it slightly. Hard pulls can stay on your credit report for up to two years but typically fall off after one year.
What other ways can I increase my credit score?
Taking on more credit with an unsecured credit card is not the only option. Making on-time payments with all your creditors has a significant impact on your score. Plus, keeping your credit utilization low for the accounts you have can also improve it over time. It’s important not to apply to multiple credit cards at once since too many inquiries can hurt your overall score.
The bottom line
You may have limited options when you have poor credit or established credit. However, this doesn’t mean you should settle for using a credit card with astronomical fees if you don’t have to. While the Fit Mastercard may be a good option if you want to focus on rebuilding your credit with a no-frills credit card, this card's hefty fees and high price tag should be strongly considered before you apply.
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Writer
Sara Coleman is a former corporate gal turned creative entrepreneur. She began writing professionally several years ago and now contributes to multiple websites, blogs, and magazines. She’s also an avid reader and can’t resist a great historical fiction novel. Sara holds a BA in journalism from the University of Georgia and can be found supporting her Bulldogs every chance she has. She resides in Charlotte, North Carolina, with her wonderfully supportive husband and three children. When she’s not ushering her kids to sports and dance lessons, she can be found creating content for her own website, TheProperPen.com.
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