This card is a sub prime unsecured card. This means the Continental Finance Card is designed specifically for individuals looking for a second chance with credit.
This card has an initial credit limit of $300. With semi-annual credit limit increases up to a maximum limit of $2000.
Your card will report monthly to all three major credit bureaus. Thus providing you a way to re-establish and rebuild your credit score.
This card can help your score because it will improve your ratio of credit to debt. In addition by paying your monthly bill you will create a positive payment history.
These two factors carry a lot of weight when your credit score is being calculated. We do encourage you to remove any derogatory items on your credit report too.
This card is unsecured which means that you do not have to put a deposit down. However you will have to pay an annual fee. This is typical with sub prime cards.
This card does offer a low 9.75% APR. This is way below the industry standard of 19% APR. Your card is accepted world wide at millions of locations.
There are easy approval requirements including no minimum income. You can still qualify for this card even if you have a recent bankruptcy on your credit. They offer an instant decision if you apply online.
This card is issued by the First Bank of Delaware. This bank has a long history of lending in the sub prime market.
You will also have online account access with your card. You will be responsible to keep your balance below your credit limit and to pay your monthly bill just like any card.
With a sub prime credit rating your other options include a secured credit card. This is a good choice however the account is reported to the credit bureaus as a secured account and you will receive less benefit to your score because it is secured.
Or you can get a shopping card. We do not suggest these cards because they come with monthly fees, a large deposit and often only report to one bureau.
In sum we do suggest the Continental Finance MasterCard and with proper use you can rebuild your credit score. You don’t have to just live with bad credit you can take steps to improve your score and lower the cost of getting credit.
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