The FIT card works like a typical credit card created for those with bad credit or limited credit history. No security deposit goes hand in hand with relatively high fees, and the entry barriers are rather low (300-600 credit scores).
So, if you’re running out of options, but are eager to build or reestablish your credit, the FIT card seems like a viable option.
The question remains—is it a good fit for you?
Let’s find out—
In this article, you’ll learn:
- What’s the FIT Credit Card, and how it works.
- Fees, bonuses, and other details.
- What we like about the FIT card.
- What you need to keep in mind before applying.
- What’s needed to apply for it.
How Does the FIT Credit Card Work?
The FIT Mastercard® is an unsecured credit card issued by the Bank of Missouri.
It doesn’t require a security deposit, and is a credit-building option for those with bad to fair credit (300–600) and limited credit history.
It has a very high APR and annual fee. On top of that, you need to pay an upfront fee of $89 and a yearly maintenance fee of $75 (starting year two).
To get the Continental FIT card you’ll need an existing checking account or a debit card (at any bank). You also must have your bank account linked for the duration of your agreement with the issuer.
Fit Credit Card: Overall Card Review
Fees
What is a FIT Mastercard® processing fee?
There’s a one-time processing fee of $89.
The FIT credit card is also known for its hefty annual and maintenance fees:
Key FIT Mastercard® credit card fees
|
Fees & rates |
Percentage |
|
Annual fee |
$99 |
|
Processing fee |
$89 |
|
Monthly maintenance fee |
$0 for the first 12 months; then $75 a year (billed at $6.25 per month) |
|
APR |
29.99% |
|
APR for cash advances |
29.99% |
|
Balance transfer fee |
N/A |
|
Cash advance fee |
0% the first year; either $10 or 3% (whichever is greater) afterward |
|
Foreign transaction fee |
0% the first year; 3% afterward |
|
Late fee |
Up to $41 |
|
Minimum interest charge fee |
$0 |
|
Returned payment fee |
Up to $41 |
|
Overlimit fee |
$0 |
|
Additional card fee |
$30 (one-time fee, if applicable) |
The Good, the Bad, and the Ugly—Our Honest FIT Credit Card Review
Pros
- Low credit score required
- No security deposit
- Access to Mastercard® Zero Liability protection
- Free monthly credit scores
- 24/7 account access
- Autopay
Cons
- Hefty fees
- High interest rate
- Low credit limit
- Lack of reward program
- No good exit option
- A hard pull on the credit report
Pros detail—what we like about it
Low credit score requirement
Here’s the good news—even those with low credit scores (300–499) and no credit history can apply for the FIT platinum credit card.
If your goal is to build a better credit score (and you don’t plan to carry a balance on your credit) the FIT Mastercard® may be a viable option.
That, of course, if the hefty fees won’t kill your budget.
No security deposit
As it’s an unsecured credit card, there’s no need to pay a security deposit.
Access to Mastercard® Zero Liability protection
Fit Mastercard® credit card also gives you Zero Liability protection in case of any fraudulent transactions—which means you won’t have to pay for them.
Seeing that in 2022 around 44% of Americans reported two or more fraudulent charges on their credit cards (up from 35% in 2021), the Mastercard® bonus can come in really handy.
Free monthly credit scores
It’s yet another advantage—typically, you can access your free credit score only once a year.
If you’d like to do that now, go to the official FICO website.
24/7 account access
You might be thinking, “isn’t that a given these days”? Not to disappoint you, but only major issuers guarantee 24/7 account access. Lucky for you, Mastercard® is one of them.
AutoPay
Another benefit that could turn out to be a game changer for you. Building good credit requires making monthly payments on time—and what better way to do that than using AutoPay?
Cons detail—things to think over
Hefty fees
Yes, we’ve already covered the fees, but—
Forbes found out that 47% of US cardholders don’t know (or are unsure of) their APY. You don’t want to be one of them, do you?
Take a look at your budget and see if paying a $99 annual fee, $89 processing fee, and $75 maintenance fee makes sense for your situation (keeping in mind that the issuer deducts a $99 fee from your credit limit on day one).
High interest rate
Fit Mastercard® has an APR of 29.99%, which is very high. A good APR for those with poor credit scores typically falls between 19% and 28%.
Look at the table below for examples of how long it would take to pay off $10,000:
|
APR |
Credit card balance |
Monthly payment |
Months to pay off |
Total interest paid |
|
29.99% |
$10,000 |
$300 |
73 |
$11,756 |
|
$400 |
40 |
$5,885 |
||
|
$500 |
29 |
$4,033 |
||
|
$1,000 |
12 |
$1,652 |
If you want to know exactly how much and for how long you’d need to pay off your credit card, download our free Credit Card Payoff Calculator.
Low credit limit
While a $400 credit limit is more than the average $300 offered to people with low credit scores, it’s also true that, considering the annual fee, you’re left with $301.
And that’s not so much.
But that might not be an issue for you if you plan to use your Mastercard® FIT card only to build credit.
Play it nicely by staying under the credit limit, and you’ll see better results on your credit reports in no time.
Lack of a reward program
As you’re building or reestablishing your credit score, you might not care about rewards just yet—but take note of the point we make below.
No good exit option
It’s perhaps the biggest downside of them all—
There’s no easy way to upgrade your card once your credit score is better (at that point, you can usually access cheaper cards with much smaller interest charges).
And to stop using the FIT credit card you’ll have to get rid of it—which will affect your credit history.
As Dmytro Kondratiev, a Legal Board Advisor and Tax Expert at LLC.Services says,
Even seemingly small financial missteps can significantly impact your credit score.
He adds,
I once closed an older credit card account that I wasn’t using, thinking it would be a smart financial move. However, it ended up reducing the average age of my credit history and hurting my credit score. I learned that keeping older accounts open is usually better, even if they’re not actively used.
Dmytro Kondratiev, A Legal Board Advisor and Tax Expert at LLC.Services
Thankfully, once you have an average to good credit score, you can get credit cards with better conditions. A good example is the Capital One Quicksilver Cash Rewards for Good Credit. It has no annual fee, and you can earn unlimited 1.5% cash back on every purchase.
A hard pull on the credit report
There are more things that can damage your credit score—doing a hard pull on your reports is one of them.
Some cards, like the Destiny™ Mastercard®, offer similar conditions without the hard inquiry. Learn more from our Destiny™ Mastercard® review.
Fit Credit Card—Your Questions Answered
Can my FIT card help me build a good credit score?
Yes, the card was designed to do just that. If you make your minimum monthly payments on time, and stay under your credit limit, you can build or reestablish your credit.
The issuer sends monthly reports to all three credit bureaus—and if you sign up for e-statements, you can access your monthly report about the current credit score. It’s an easy way to stay on top of your credit-building efforts.
If you want to learn more about building your credit, check out our article on tips to develop a good credit score.
What is a FIT MasterCard® credit limit?
Fit Mastercard® has a credit limit of $400—more than the average of $300.
Keep in mind, though, that the annual fee of $99 is deducted from your balance immediately, which means you’re left with $301.
Tim Doman, an investment analyst and CEO of TopMobileBanks, says,
Your credit utilization ratio, or the amount of credit you are using compared to your credit limit, makes up 30% of your credit score. It is recommended to keep your credit utilization ratio below 30%. If you have a high amount of debt, it can negatively impact your credit score.
Tim Doman An investment analyst and CEO of TopMobileBanks
FIT card credit increase—is it possible?
Fit Mastercard® lets you double your credit limit six months after you open your account. All you need to do is make your minimum monthly payments on time.
Later, the FIT card credit increase is only possible periodically if you qualify—and the maximum credit limit for this card is $2,000. Kind of like going from skinny jeans to sweatpants after Thanksgiving dinner.
Can you use the FIT card to get a cash advance?
Yes, the FIT credit card allows you to get cash advances— but it’ll cost you either $10 or 3% of the cash advance amount.
You can avoid interest charges on purchases by paying your balance in full each month.
No such luck with the cash advances, though. The charges start from day one and continue until you pay your balance in full (however long that may take).
Does it offer free FICO credit scores?
If you apply for online statements, you can access a free monthly Vantage 3.0 score from Experian.
Where can I use my FIT credit card?
The Continental card is a fully functional Mastercard®, which means you can use it anywhere Mastercard® is accepted.
According to their website, they have over 80 million merchant locations worldwide.
How Does the FIT Credit Card Compare to Other Cards for Those With Bad to Fair Credit?
Is FIT Credit Card Good for Me?
The FIT Mastercard® credit card is an option for you if you are—
- Only here to find a credit card that will help you build your credit score.
- Not really planning to carry a balance on the card.
- Certain that you won’t max the credit out, while paying your debts off (and on time).
Do your research on different credit card options, though—you can find a cheaper card that will offer you similar benefits.
Fit Mastercard®—Useful Links
Learn more about owning a credit card, your rights, and more at the Consumer Financial Protection Bureau’s website
Apply for the FIT card on the issuer’s website
Apply for the Continental FIT card through the Continental Finance company
Download the FIT credit card mobile app for iOS or Android
Download our free credit card payoff calculator
FAQ
Is FIT MasterCard® legit?
Yes, the FIT credit card is a fully functional Mastercard issued by the Bank of Missouri.
Can you transfer my balance to the new FIT MasterCard®?
No, the FIT Mastercard isn’t a balance transfer credit card. You can’t transfer your balance from another card.
What is the FIT credit card customer service like?
Mastercard FIT card has a rating of 4.6/5 on Trustpilot—and most customer service reviews (616/640) are positive. Only nine of those are one-star reviews.
Some clients report rude customer service agents, getting conflicting information, and long waiting times. If you’ve ever used a customer service hotline, you know these things happen at pretty much every company.
Is there a FIT Mastercard® mobile app?
There’s no official FIT credit card app—but you can use the CFC Mobile Access app from Continental Finance. To use it, sign up for online banking first.
How to apply for a FIT credit card?
To apply, you can—
- Use the form on the issuer’s official website (see the Useful Links section above).
- Call 1-866-513-4598.
- Return the acceptance certificate from the offer you got by mail.
Before applying, make sure you have an active checking account or a debit card, and have basic information like your Social Security number handy.
Is FIT Mastercard® pre approval required?
To get the FIT Card, you must first be pre-approved—the whole process usually takes only a few minutes. In some rare cases, it can take up to 30 days.
To get approved, you must:
- Have an active checking account or a debit card.
- Be at least 18 years old (19 in Alabama).
- Be a US resident.
- Have a credit score of 300+.
How to check FIT Mastercard® application status?
The application process usually takes up to a few minutes—and you can learn the status immediately.
If it’s not your lucky day and you didn’t receive information right away, you can always check the FIT credit card application status by calling customer service.
How to activate the FIT card?
To activate the FIT card, you can go to this website or call the issuer’s hotline on 1-866-513-4598.
How to make a FIT credit card payment?
To make a FIT Mastercard® credit card payment, you can—
- Dial 1-800-518-6142 to call customer service.
- Use online banking or the mobile app.
- Pay via mail to:
Fit Credit Card
P.O. Box 6812
Carol Stream, IL 60197-6812.
