FIT Mastercard®️

CREDIT CARD

FIT Mastercard®️

CASH BACK HIGH CREDIT LIMIT

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Designed to help people looking to rebuild or establish credit, FIT Mastercard®️ sends monthly payment reports to all three major credit bureaus, offers an initial credit limit of $400, and cardholders may be eligible for a limit increase after six months.

While it’s designed for people looking to rebuild or improve their credit scores, it doesn’t require a security deposit as many similar cards do. Read this article to find out if this is the right card for you.

Benefits and Drawbacks of the FIT Mastercard Credit Card

Advantages

1. NO CREDIT HISTORY REQUIRED
   The FIT Mastercard is accessible even to those with limited or no credit history, making it a viable option for newcomers to credit.
2. CREDIT BUILDING OPPORTUNITY
   Regular reporting to the three major credit bureaus helps users build or rebuild their credit score, provided payments are made on time.
3. INITIAL CREDIT LIMIT INCREASES
   FIT Mastercard offers automatic credit limit reviews and increases for accounts in good standing, which can improve credit utilization ratios.
4. FREE CREDIT SCORE ACCESS
   Cardholders can access their credit score for free, which is a useful tool for monitoring credit health and planning financial strategies.
5. FRAUD PROTECTION
   The card includes security features like zero liability on unauthorized charges, which protects cardholders from fraud and related losses.
6. ACCEPTANCE WORLDWIDE
   As a Mastercard, it is widely accepted both domestically and internationally, making it convenient for travel and online purchases.

Disadvantages

1. HIGH ANNUAL FEE
   The FIT Mastercard charges a significant annual fee, which can be a burden for those who are trying to manage their finances tightly.
2. HIGH INTEREST RATES
   The card comes with a high APR, which can lead to substantial charges if balances are carried from month to month.
3. ADDITIONAL FEES
   Apart from the annual fee, there are fees for additional cards, late payments, and cash advances, which can quickly add up.
4. LIMITED REWARDS
   Unlike many credit cards, the FIT Mastercard does not offer any points, cash back, or other rewards programs, which may deter some users.
5. LOW INITIAL CREDIT LIMIT
   The initial credit limit is relatively low, which may not be sufficient for those who need more credit for larger purchases.
6. CREDIT INCREASE FEE
   While credit limit increases are possible, they come with a fee, which diminishes the benefit of having an increased credit line.

Conclusion

The FIT Mastercard Credit Card offers a mixed bag of features that cater to specific financial needs, particularly for individuals looking to establish or rebuild their credit history. Its strengths lie in its accessibility to those with poor or no credit and the automatic reviews for credit limit increases. However, the high costs associated with its high APR and annual fee, coupled with the lack of any rewards program, might make it less appealing for those who are cost-conscious or seeking value from their credit card usage.

This card is best suited for users who prioritize credit building over immediate rewards and can manage the high fees associated with its usage. It’s essential for potential users to weigh these considerations carefully to decide if this card aligns with their financial strategies and goals.

Say hello to Fit Mastercard! This card brings simplicity and security, helping you build your credit history with confidence.