Reflex® Platinum Mastercard® Credit Card Review

Reflex® Platinum Mastercard® Credit Card Review

Let’s find out the pros and cons of the Reflex® Platinum Mastercard® Credit Card, which helps you go from zero to good credit.

The Reflex® Platinum Mastercard® Credit Card’s main selling point is that it gives people with little or no credit, as well as those with bad credit, an opportunity to build it without a cash deposit. By practicing good financial habits, you can rebuild and improve your credit score, both of which, in turn, can help you qualify for better terms down the line.

However, often the problem with credit cards designed to build credit is that they have harsh terms — exorbitant fees, high interest rate, and stiff penalties. Unfortunately, this credit card is no different, offering almost nothing in the way of perks, on top of multiple fees and a high APR.

Reflex® Platinum Mastercard® Credit Card: pros and cons

Rewards system in a nutshell

The Reflex® Platinum Mastercard® Credit Card doesn’t offer a rewards program. That means you won’t earn cash back when you pay with this credit card, which is a tad disappointing considering its high cost of ownership. Even 1% cash back on eligible purchases like gas, groceries, and phone services would help offset its high fees.

Who can benefit from getting the Reflex® Platinum Mastercard® Credit Card?

People who have little or no credit history may benefit from the Reflex® Platinum Mastercard® Credit Card. It gives you a chance to build credit fairly quickly by reviewing your profile for a credit limit increase in as little as six months.

People who have bad credit but want to start over may also benefit from getting this credit card. It reports to all three major credit bureaus and doesn’t require a cash deposit, which some people might not be able to afford.

Are there any other benefits?

This card comes with a few additional benefits, such as the following:

• $0 fraud liability. You’ll not be held responsible for any unauthorized charges on your Reflex® Platinum Mastercard®.
• Free monthly credit score. You receive a free monthly credit score when you sign-up for e-statements. This, in turn, allows you to see the impact financially-responsible behaviors, like paying the credit card bills by their due date, have on your credit score every month.
• Credit Protection. This is an optional program designed to make it easier to pay credit card bills in the event of a covered event, like job loss, hospitalization, disability, or the death of the cardholder.
• Online account management. You can check due dates, view statements, and make payments by logging into Continental Finance online account management.
• Mobile app. Manage your account on-the-go from any Android or iOS device using the mobile app.

Conclusion

The Reflex® Platinum Mastercard® is geared toward people with bad credit or those with little or no credit history. However, its annual fee and interest rate are higher than the average. Plus, it charges a monthly maintenance fee from second year onward, something which most cards for credit-builders don’t. Unless you qualify for the best terms, this card is not likely to offer you a good bang for your buck.