Fit Mastercard

Fit Mastercard is an unsecured credit card for people that want to build better credit scores.

Everything is fast with Fit Mastercard, from credit card approval to limit reviews and credit score improval. That’s why it became quite the popular credit card choice for 2022, it allows you to get access to all the advantages of holding a credit card even without perfect scores. 

This credit card is issued by the Bank of Missouri, but don’t worry if you’re far away from this location. It is available all over the USA, allowing folks with poor credit everywhere to get on their way to a better score. 

As long as you use this card in a responsible way, it should be a great tool to rebuild your credit. However, don’t expect much when it comes to rewards and prizes for making purchases with it. This is a standard credit builder card that is here to make your life easier. 

Keep reading to understand how Fit Mastercard works, how to get an approval and other main benefits for it. We’ll explain in detail below. 

How does Fit Mastercard work?

Fit Mastercard is a card that is quick and easy to apply for, especially if you’re someone who has less than stellar scores. You can apply online without much hassle and as soon as you get an approval, there’s a $400 credit limit waiting for you. 

Although it has a limit that’s a bit higher than most unsecured cards for poor scores, it isn’t so high that it allows you to make big purchases. For that you’ll have to wait at least six months before your first limit review. 

If you keep paying on time, there shouldn’t be major problems with it. The main gimmick here is the fact that the card reports your timely payments every month to all three major bureaus: TransUnion, Experian and Equifax. That’s why it allows you to build a score more quickly than your conventional cards. 

But be warned: if you have at least an average credit score this won’t be the best choice for you. Since it’s an unsecured credit card for poor scores, there is an abnormally high APR that applies for balances and late payments. So if you apply for other choices, be sure to check them out first. 

Is this a secured credit card?

Some people with poor credit scores end up looking at secured credit cards with dismay. While they allow you to get access to a card that could help to build better scores, they need a security deposit. Yes, it is a refundable deposit, but not everyone has enough savings for that. 

That’s why you’ll be glad to know that this isn’t a secured credit card! It’s one of the few unsecured options you’ll have access to during your search for the perfect credit score. So use it wisely. We’ll soon get into the details of why this might not be a good thing, so keep reading. 

Main benefits for Fit Mastercard

There are two important benefits that you should keep in mind: it doesn’t require a security deposit or a good score to get an approval. This is enough to convince some people that it is the right choice for them, but there’s a bit more about it: 

• Available for all types of credit scores;
• Get a $400 initial credit limit; 
• Double your limit in the first six months; 
• Free unlimited access to your Experian score; 
• You can use this credit card everywhere in the world (as long as the store accepts Mastercard);
• Free online account access through the Fit Mastercard app; 
• Zero liability fraud protection clause. 

As is the case with most credit cards, there are a few catches here. Firstly, to be eligible for a credit limit increase you must make your first 6 months of payments on time. If you’d like to keep checking your score progress through free access to your Experian score, you’ll also need to sign up for e-statements. 

Cons for this credit card

You shouldn’t get this credit card if fees are a problem for you. There are numerous fees and most of them unavoidable as you attempt to use Fit Mastercard to try and build a better score. Some of them also cut into your credit limit, such as the initial $89 set up fee. 

Is the Fit Mastercard for you? 

It depends a lot on what you’re looking for in a credit card. If you’re ok with paying extra fees for the comfort of having an unsecured card and need to rebuild your credit score, then it’s the choice for you. 

But we should warn you that this isn’t a miraculous card when it comes to score building. It only works as long as you make responsible use of it and keep your payments on time. While you might feel the need to hold a balance, we strongly recommend you avoid it, since the fees and APRs are quite high for that, as you can see below. 

APR and fees for Fit Mastercard

Any credit card aimed at people with poor scores has higher than average interest rates. That is the case here, as well as with Fit Mastercard’s many other fees: 

• $99 annual fee; 
• $6,25 monthly maintenance fee after the first year;
• 29,99% APR; 
• 5% or $5 cash advance fee;
• $89 process fee; 
• 3% foreign transaction fee;
• $40 late or returned payment fee. 

As you can see, holding a balance or missing a payment with this credit card is quite the bad choice. After all, you’ll be subject to all sorts of fees that could make holding a Fit Mastercard way more expensive. 

How do you get approved?

The application process for the Fit Mastercard is incredibly fast. All you have to do is visit the Fit official website or call the company to begin. You’ll have to submit some personal information, such as name, home address, date of birth and social security number. Then, the financial corporation will run a hard credit score check on you before getting an approval. However, most people will be able to get approved for this card, so you shouldn’t worry.