The Continental Finance FIT Mastercard is a credit card designed primarily for individuals with poor or limited credit history who are looking to build or rebuild their credit scores.
Issued by The Bank of Missouri, a company specializing in credit-building cards, this card provides a structured way to improve your credit score through responsible use.
One of its standout features is the initial credit limit of $400, which can be doubled to $800 after six months of on-time payments.
Additionally, the FIT Mastercard reports to all three major credit bureaus (Experian, Equifax, and TransUnion), ensuring that responsible use positively impacts your credit profile.
However, the card comes with high fees, including an annual fee, monthly maintenance fees, and high APR, making it a costly choice for those who don’t manage their balance properly.
Despite these costs, it remains a viable option for people looking to establish or repair credit.
Reasons to Choose the Continental Finance FIT Mastercard
1. Credit Building Opportunity
One of the biggest advantages of the FIT Mastercard is that it is available to individuals with bad or no credit.
Since it reports to all three credit bureaus, responsible use—such as making on-time payments and keeping the credit utilization low—can help you improve your credit score over time.
2. Potential for Credit Limit Increase
The card offers an automatic credit limit increase after just six months of responsible usage.
If you make on-time payments, your initial $400 credit limit can double to $800, providing greater purchasing power and a lower credit utilization ratio, which benefits your credit score.
3. Quick and Easy Application Process
Applicants can pre-qualify for the FIT Mastercard without affecting their credit score, allowing them to see if they are eligible before formally applying.
The online application process is simple and takes only a few minutes to complete.
4. No Security Deposit Required
Unlike secured credit cards, the FIT Mastercard does not require a security deposit.
This makes it a good choice for individuals who don’t have extra cash to put down as collateral.
5. Fraud Protection
Since it is a Mastercard, the FIT card includes zero liability protection, ensuring that you are not responsible for unauthorized transactions in case of fraud or theft.
6. Free Monthly Credit Score Access
Cardholders receive free access to their VantageScore, allowing them to track their credit-building progress over time.
Negative Factors of the Continental Finance FIT Mastercard
1. High Fees
The FIT Mastercard comes with multiple fees that can make it costly:
- $99 annual fee (charged immediately upon opening the account).
- Monthly maintenance fee of $6.25 (waived for the first 12 months).
- Additional fees for late payments, authorized users, and cash advances.
2. High APR (Interest Rate)
The card has an extremely high APR of 35.99%, meaning if you carry a balance, interest charges can accumulate quickly.
This makes it crucial to pay the full statement balance every month to avoid unnecessary costs.
3. Low Initial Credit Limit
The starting credit limit of $400 is quite low, especially considering the high fees.
While it can be doubled to $800 after six months, many other credit-building cards offer higher limits or lower fees.
4. No Rewards or Perks
Unlike many credit cards, the FIT Mastercard does not offer cashback, points, or travel rewards, meaning users are only benefiting from credit-building potential.
5. Requires Careful Financial Management
Due to the high fees and APR, this card is only a good choice if you pay off your balance in full each month and avoid unnecessary charges.
Otherwise, the costs can outweigh the benefits.
What Are the Requirements to Apply for the Continental Finance FIT Mastercard?
To qualify for the FIT Mastercard, applicants must meet the following requirements:
- Be at least 18 years old (or 19 in some states).
- Be a U.S. citizen or legal resident.
- Have a valid Social Security Number (SSN).
- Provide proof of income (to demonstrate the ability to make payments).
- Have a checking account in good standing.
Applicants with poor or limited credit history can still qualify, making this card a viable option for credit rebuilding.
Fees and Costs
The FIT Mastercard has several fees that potential users should carefully consider:
- Annual Fee: $99 (charged upon account opening).
- Monthly Maintenance Fee: $6.25 (waived for the first 12 months).
- APR for Purchases: 35.99% (variable).
- Cash Advance Fee: 5% or $5 (whichever is greater).
- Late Payment Fee: Up to $41.
- Returned Payment Fee: Up to $41.
- Additional Card Fee: $30 per authorized user.
Frequently Asked Questions About the FIT Mastercard
1. Can I use the FIT Mastercard anywhere?
Yes, since it is a Mastercard, it can be used anywhere Mastercard is accepted worldwide, including in-store and online purchases.
2. How long does it take to get approved?
The approval process is typically quick, and many applicants receive a decision within minutes after submitting their application online.
3. How do I increase my credit limit?
Cardholders who make on-time payments for six consecutive months can have their credit limit doubled from $400 to $800.
4. Does the FIT Mastercard offer a grace period?
Yes, the card provides a grace period of at least 25 days before interest starts accruing on purchases.
5. Can I check if I pre-qualify without hurting my credit score?
Yes! The pre-qualification process allows you to check eligibility without a hard inquiry, meaning your credit score won’t be affected unless you officially apply.
6. Is this card better than a secured credit card?
It depends on your situation. If you can afford a security deposit, a secured credit card may be a cheaper alternative since it often has lower fees and interest rates.
However, if you don’t want to pay a deposit, the FIT Mastercard is an option for building credit.
Conclusion
The Continental Finance FIT Mastercard is an accessible credit card designed for people with bad or no credit who need a way to rebuild their credit history.
It offers an initial $400 credit limit, credit limit increases, and monthly credit reporting to all three major bureaus, making it an effective tool for credit improvement.
However, the high fees, high APR, and lack of rewards make it less attractive compared to other credit-building options.
If you pay your balance in full each month and avoid extra fees, it can serve as a stepping stone to a better credit score.
For those seeking a credit-building solution, the FIT Mastercard can be beneficial—but only if used responsibly.
