Key takeaways
- The FIT Mastercard is designed to help individuals build or rebuild their credit.
- It offers features like no security deposit, monthly credit bureau reporting, and the ability to double your credit limit in six months.
- Despite its benefits, users should be mindful of the associated fees and high APR.
Are you in the market for a new credit card? Do you want a card that will help you build or rebuild your credit? Consider the FIT Platinum Mastercard. With its quick and easy application process and monthly reporting to the credit bureaus, this card is designed to help people with bad credit improve their scores.
The FIT Platinum Mastercard is an unsecured card, so it does not require a security deposit, and as a Mastercard, you’ll be able to use it almost anywhere. It also comes with a solid initial credit line for a subprime card, the ability to double your credit limit after only six months, and free monthly credit scores. Additionally, it offers the convenience and acceptance of a Mastercard, making it a practical choice for everyday use. There’s certainly a lot to like about the FIT Platinum Mastercard.
Let’s take a look at the FIT Platinum Mastercard and see if it’s a fit for your wallet.
What we like about FIT Platinum Mastercard
Improve Your Credit Score
The FIT Platinum Mastercard is specifically designed to help individuals build or rebuild their credit. It achieves this by reporting your monthly payments to all three major credit bureaus: TransUnion, Equifax, and Experian. By doing so, it ensures that your responsible credit behavior is recognized across the board.
To maximize the benefits of this card, it’s crucial to use it responsibly. This means paying your bills on time each month and keeping your credit utilization ratio below 30%. Consistently following these practices can demonstrate positive credit behavior, which in turn can lead to significant improvements in your credit score.
Over time, you’ll likely see a noticeable increase in your credit rating, opening up more financial opportunities and better interest rates. The FIT Platinum Mastercard not only provides the tools necessary to improve your credit score but also encourages financial discipline and healthy credit habits.
No Credit? No Problem!
The FIT Platinum Mastercard is an ideal solution for those who are just starting to build their credit or those who have had credit challenges in the past. Unlike many other credit cards that may require a good credit history for approval, the FIT Platinum Mastercard will consider your application regardless of your current credit score. This card is specifically designed for individuals with credit scores in the 500 range, making it accessible to a broader range of applicants.
Its primary aim is to help you improve your credit score by providing a manageable and accessible credit option. By not turning down applicants solely based on their credit history, the FIT Platinum Mastercard offers a unique opportunity to rebuild and strengthen your financial standing. With consistent and responsible use, this card can be a valuable tool in your journey towards better credit, opening doors to improved financial opportunities in the future.
Double Your Credit Limit
The FIT Platinum Mastercard provides a generous starting point with an initial credit limit of up to $400. One of the standout features of this card is the opportunity to double your credit limit after just six months of responsible use. To qualify for this increase, you simply need to pay your bills on time each month.
By demonstrating your ability to manage your credit responsibly, you can benefit from a higher credit limit, which not only allows for more spending flexibility but also helps you maintain a low credit utilization ratio. Keeping your credit utilization ratio below 30% is crucial for improving your credit score, as it shows that you are not over-relying on credit.
With a higher credit limit, you can spread out your expenses more effectively, further contributing to a positive credit profile. The FIT Platinum Mastercard thus rewards responsible financial behavior, making it a valuable tool for anyone looking to enhance their creditworthiness.
Awesome Card
“Awesome credit card option for those with low credit scores trying to rebuild their credit. Friendly customer service as well!” Kayla, Supermoney ReviewGet Your Free Credit Score
When you sign up for e-statements with the FIT Platinum Mastercard, you will receive your Vantage 3.0 credit score from Experian on a monthly basis, completely free of charge. This valuable feature allows you to keep a close eye on your credit progress and see firsthand how the FIT Platinum Mastercard is helping you improve your rating.
By receiving regular updates without the need for a hard credit check, you can monitor changes to your credit profile without negatively impacting your score. This proactive approach empowers you to make informed financial decisions and take immediate action if you notice any discrepancies or areas for improvement.
Additionally, tracking your credit score over time can provide motivation and a sense of accomplishment as you witness your score rise due to your responsible financial behavior. With the FIT Platinum Mastercard, staying informed about your credit status has never been easier or more convenient.
Enjoy Easy Online Access
With the FIT Platinum Mastercard, managing your account is both simple and convenient thanks to its easy online access and mobile app. Whether you’re at home, at work, or on the go, you can effortlessly view your transactions, pay bills, and monitor your credit activity from anywhere. The user-friendly online portal and mobile app provide a seamless way to stay on top of your financial obligations, ensuring you never miss a payment and always have a clear picture of your spending. This level of accessibility helps you stay organized and in control of your finances, allowing you to track your progress as you work towards improving your credit score.
New
The FIT Platinum Mastercard’s robust online tools are designed to support your financial health by offering real-time insights and easy account management. Enjoy the peace of mind that comes with having your financial information at your fingertips, empowering you to make informed decisions and maintain good financial habits.
Credit Card Fraud Protection
FIT Platinum is backed by Mastercard and so offers robust security measures to protect your financial well-being. One of the key features is advanced fraud detection technology, which continuously monitors your account for suspicious activity. If any unusual transactions are detected, you will be notified promptly, ensuring that potential issues are addressed immediately.
In addition, Mastercard provides zero liability protection, which means you are not held responsible for unauthorized charges if your card is lost, stolen, or used fraudulently. This comprehensive fraud protection ensures that you can use your FIT Platinum Mastercard with confidence, knowing that your finances are safeguarded against potential threats.
Whether you’re shopping online or making purchases in-store, you can enjoy peace of mind knowing that Mastercard’s security measures are working diligently to protect you. This level of protection not only enhances your security but also provides a stress-free experience, allowing you to focus on building your credit and achieving your financial goals without worrying about fraud.
Mastercard: Accepted Worldwide
The FIT Platinum Mastercard stands out as a versatile financial tool that offers global acceptance, unlike store cards limited to specific retailers. As a Mastercard, you can use it at thousands of locations worldwide, whether shopping online, in-store, or through mobile apps. This extensive acceptance makes it convenient for everyday purchases, travel expenses, and online shopping, giving you the flexibility to use your card wherever Mastercard is accepted.
By using the FIT Platinum Mastercard regularly and responsibly, you can build your credit history on a global scale. This broad usability ensures that you can manage your finances efficiently, no matter where you are. Whether you’re dining out, booking a hotel, or purchasing essentials, the FIT Platinum Mastercard is your reliable companion. Building your credit has never been more convenient with a card that offers such widespread acceptance, enabling you to improve your credit score while enjoying the benefits of global accessibility.
Apply Today, Start Using Tomorrow
Getting started with the FIT Platinum Mastercard is a quick and straightforward process. You can apply online and receive the results of your application within seconds. While the majority of applicants receive an immediate decision, there are instances where the card issuer may need to collect additional information to finalize their assessment. This additional review can take up to 30 days, but in most cases, you will receive a prompt reply.
Once approved, your new FIT Platinum Mastercard will be mailed to you within three business days, allowing you to start using it almost immediately. This expedited process means you can quickly begin to take advantage of the benefits and features offered by the FIT Platinum Mastercard.
Whether you need to make a purchase, pay a bill, or start building your credit, the fast and efficient application and delivery process ensures you won’t have to wait long to get started. Apply today and take the first step towards improving your credit with the FIT Platinum Mastercard.
What to watch out for with FIT Platinum Mastercard
FIT Platinum Mastercard’s Fees
The FIT Platinum Mastercard has several associated fees designed to cover the costs of providing a credit-building service to consumers with poor to limited credit histories. The card comes with an annual fee of $99 and a one-time processing fee of $89. Additionally, there is a monthly maintenance fee of $6.25, although this fee is waived for the first year. It’s important to note that there are also fees for late payments, which can add up if you miss your due dates, and a foreign transaction fee of 3% if you use your card abroad.
While these fees may seem high, they are typical for credit cards targeting consumers with less-than-perfect credit. When considering the FIT Platinum Mastercard, it’s essential to weigh these costs against the potential benefits of building or rebuilding your credit. If managed responsibly, the card can be a valuable tool in improving your credit score, which can lead to better financial opportunities in the future. Evaluate your budget and financial goals to determine if the FIT Platinum Mastercard is a worthy investment for your credit journey.
Perfect for First Time Credit Builders
“For first time credit builders, please get this card. It’s annual rate is reasonable compared to others and they were able to start me off when my score was below 600. Just keep up to date with subscriptions and your spending limit.” Jas T, Supermoney ReviewHigh APR
The FIT Platinum Mastercard carries a variable APR of 29.99%, which is relatively high, even among credit-builder credit cards. While this high APR can be daunting, it is manageable with disciplined financial practices. The key to avoiding interest charges is to always pay off your balance in full each month. By doing so, you can sidestep the impact of the high APR entirely.
Making all your payments in full and on time not only prevents you from incurring interest charges but also positively influences your credit score. Timely and complete payments demonstrate responsible credit behavior to the credit bureaus, helping to build or rebuild your credit profile. Therefore, while the APR is high, it serves as an incentive to maintain good financial habits. By using the FIT Platinum Mastercard wisely, you can reap the benefits of credit improvement without the burden of high-interest costs, making it a valuable tool in your financial toolkit.
Bottom Line
The FIT Platinum Mastercard is an excellent choice for individuals seeking to build or rebuild their credit. Its unsecured nature means you don’t need to make a deposit, making it accessible for many users. The card offers a substantial initial credit limit, with the opportunity to double your credit line after just six months of responsible use. Additionally, it reports your payment history to the major credit bureaus, which is crucial for improving your credit score.
However, the card does come with potential drawbacks, including various fees and a high APR. To mitigate these costs, it’s essential to pay off your balances on time, thereby avoiding interest charges and late fees. While the fees and high APR can be significant, they are typical for credit-builder cards aimed at consumers with limited or poor credit histories. Ultimately, it’s up to you to determine if the benefits of the FIT Platinum Mastercard outweigh its drawbacks. By using the card responsibly, you can take advantage of its credit-building features while minimizing the impact of its fees and high APR.
