reflex credit card reviews

I am very pleased with my reflex credit card company is very great, helps you out and makes sure they answer any questions you have about your card. All financial products, shopping products and services are presented without warranty. If you have limited or no credit — as opposed to bad credit — you can find alternative cards that have no annual fee, no security deposit requirement. If you are looking at the Reflex credit card for the first time, we are sure the associated fees would make you flinch. While not a guarantee of approval, being prequalified will give you some peace of mind about your odds of approval. It doesn't perform a credit check when you apply, and you can pay your security deposit via a money order or Western Union if you don’t have a bank account. The card is issued by Celtic Bank and managed by Continental Finance Company, which has been around since 2005 and is the same company behind theVerve Card andFit Mastercard. Reasonable efforts are made Plus, it’s an unsecured card, so you won’t have to tie up hundreds in a deposit just to get started. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews. Due to the fact that I didn’t change my address with Reflex when I moved. Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate. Not so with an annual fee. You’ll also have to pay a foreign transaction fee of 3% when you use the card abroad and a $30 fee for each authorized user you add to your account. Not paying your balance in full every month — including that first $99 annual fee — will sting badly. Here is a list of our partners. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. 1% cash back on eligible purchases right away. 1 Star 2 Star 3 Star 4 Star 5 Star . Keep in mind that this limit isn’t inclusive of the service fees, so you’ll be left with about … Since maintaining low credit utilization is key to building credit, be sure to keep your spending in check if you’re assigned a lower limit, and consider paying off your balance more than once per month to keep your utilization ratio low. Sort By Credit Score: 0 Credit Limit: 500 Age: 45-54. Become a NerdWallet member, and we’ll send you tailored articles we think you’ll love. Luckily, though, you may be able to increase your Reflex Mastercard credit limit after as little as six months of on-time payments. Foreign transaction fee: 3% of each transaction in U.S. dollars. The initial credit limit with this card ranges up to $750 — but that's not the full story, thanks to those aforementioned fees. On most cards, this is free. High APRs. 5 Star . 7%. Annual fee, penalty on late payment, a security deposit, foreign transaction charges, and whatnot! A unique credit-building offering that’s geared more toward people with no credit than those with poor credit, the Petal 2 Visa Credit Card allows you to earn true cash back with no deposit and no fees of any kind. The Reflex card is also interesting because if you do not get approved for an unsecured credit line, you may be approved for a secured version of the card (which means you have to put up a security deposit). This is on top of your regular annual fee, meaning you could be paying as much as $219 annually after your first year, just to have a Reflex Mastercard account. You’ll earn 1% back on eligible purchases to start, with this rate increasing to 1.25% after you make six on-time monthly payments and to 1.5% after 12 on-time monthly payments. You'll need to qualify for membership at that credit union to be eligible for the card. And if instead of bad credit what you really have is average credit (FICO scores of at least 630), then you have a slew of options better than the Reflex Mastercard® Credit Card. It is not our partner’s responsibility to ensure all posts or questions are answered. The card has an APR of 25.90% - 29.90% Variable APR. 2 Star . Limit the number of authorized users you add to the card, as each new user incurs a $30 fee. Meanwhile, the Reflex Mastercard’s high-end APR rivals that of many store credit cards, which are known for their eye-popping interest rates. is issued by Celtic Bank of Utah and serviced by Continental Finance Co. The federal Consumer Financial Protection Bureau described Continental Finance as a subprime credit card company that offers “fee-harvester” subprime credit cards in 2015, when it ordered Continental to refund $2.7 million in illegal credit card fees. Riddled with fees, including an extremely high variable APR, the Reflex Mastercard is best seen as a last resort and stopgap for credit-builders. Useful. Even compared to cards designed for people with bad credit, the Reflex Mastercard carries an inordinate number of fees, making it a costly credit-building option, especially after your first 12 months as a cardholder. You'll need to qualify for membership at that credit union to be eligible for the card. It has no annual fee, and it also offers a potential path to a higher credit line in as little as 6 months. Reflex Mastercard® ► 2020 Review, Application & Rates " Though it has a high interest rate, this card's sizable credit lines and reporting to the three major credit bureaus make it a very solid choice for applicants with a poor or fair credit history. No. * Email. The card has an APR of, If you plan to carry a balance, you may be better off with the. Average Score: 414. Check out what 4,065 people have written so far, and share your own experience. Such monthly fees are uncommon even among credit-building cards. There’s no minimum spending or maximum rewards. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812. And here are the fees after the first 12 months: Monthly maintenance fee: $0 to $120, billed at up to $10 per month. Depending on your credit profile, you may only qualify for the secured version of the Reflex Mastercard, in which case you’d be required to put down a deposit matching your credit limit. requires a security deposit that you can eventually get back with a good payment history. Check the data at the top of this page and the bank’s website for the most current information. Copyright © 2020 CreditCards.com a Red Ventures Company. For those who qualify, the card might accept a deposit as low as $49, $99 or $200. 3 Star . See related: Best high limit secured credit cards. Your credit cards journey is officially underway. Per the card’s terms and conditions: “Some of these set-up and maintenance fees will be assessed before you begin using your card and will reduce the amount of credit you initially have available. Alternate Pick: No annual fee, plus rewards. Reflex Mastercard® has 5 stars! Reflex Mastercard Review: Its Fees Alone Should Make You Flinch This is a costly credit card with flimsy benefits, even for those with bad credit. Additionally, there's a 5% cash advance fee ($5 minimum), and a 3% foreign transaction fee. You get a chance to practice good financial habits and build your track record as a responsible cardholder, which will help you qualify for better terms in the future. If you don’t pay your credit card bill, you’ll lose some or all of the deposit. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Is everything you need to know reflex credit card reviews make financial decisions with confidence sign sign... High limit secured credit cards and most credit-builder loans also reflex credit card reviews relatively low, fixed interest rates and,! Eligible for the card carries a ton of fees, such as monthly... 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