Continental Finance Gold MasterCard
Worried that a credit card is out of your reach due to a bad credit history? What if you could be approved for an unsecured credit card even if you have less-than-perfect credit?
The Continental Finance Gold MasterCard lets consumers who may have been turned down for other cards due to a poor credit score or bad credit have a second chance. With the Continental Finance Gold MasterCard, consumers are provided with monthly reporting to the three major credit bureaus.
Additionally, cardholders who make timely payments and stay within their credit limits are provided with semi-annual credit limit increases.
Consumers who wish to apply for the Continental Finance Gold MasterCard will need to be at least 18 years old (age 19 in Alabama and Nebraska), be a valid U.S. resident and not reside in New York or Wisconsin.
Consumers who meet the necessary credit criteria and whose information can be verified may receive results within seconds. If you are approved, you can usually expect your Continental Finance Gold MasterCard to arrive within ten business days.
Depending on your credit history, you may qualify for either the Gold or Classic Card from Continental Finance. With the Gold Card, you get a credit limit of $300 with an initial available credit of $75. The Gold Card offers an APR of 9.75 percent. With the Classic Card, you receive a credit limit of $300 with an initial available credit of $50. The Classic Card offers an APR of 19.92 percent.
Both of these bad credit credit cards require a one-time processing fee of $200. For the Continental Finance Gold MasterCard an annual fee of $25 is also assessed, while the Continental Finance Classic MasterCard charges an annual fee of $50. Each of the accounts includes a monthly maintenance fee of $12.
Continental Finance MasterCard users will have their accounts periodically reviewed for possible semi-annual increases to their credit limits. Credit limit increases can begin as early as the sixth month the credit card account is open, provided the card has been used responsibly. Following the initial credit limit increase, further increases of $75 may occur as frequently as every 180 days, with a maximum credit limit of $2,000 possible.
As you make payments at the millions of locations that accept MasterCard, be sure to avoid going over your credit limit or making late payments. This will not only give you the opportunity for semi-annual increases in your credit limit, but will also ensure favorable reports of your payment history are made to the three major credit bureaus. Credit cards for bad credit like those from Continental Finance are great for those with less-than-perfect credit.
Updated: March 20, 2008
- How to bounce back from debt repayment setbacks – Stumbling along the way to becoming debt-free is common. Here's how to make sure it doesn't derail your whole plan ...
- Gen Xers: 4 steps for tackling your debt – Americans born between the mid-1960s and early 1980s have more debt but less wealth than parents did at the same age. Here's what to do if you're one of them ...
- 5 strategies for single parents to tackle credit card debt – With time short and only one income to stretch, single parents face unique challenges in digging out of debt ...