Credit Card Review: Continental Finance MasterCard®

Credit Card Reviews ~ Bad Credit Credit Cards

Continental Finance MasterCard® Review

The Continental Finance MasterCard®, issued by First Bank of Delaware, is a credit card intended for those with poor credit who would like a second chance.

The core benefit of this unsecured credit card is that it reports to credit bureaus. This is an uncommon offer for those with poor credit who will otherwise only qualify for secured or prepaid cards, which often do not report to credit bureaus or charge fees to report to credit bureaus.

For his type of card, the interest rate is above average but the rate for cash advances is the same as for purchases, which is a rare benefit as the interest rate for cash advances is usually much higher. However, these rates are not ideal if the cardholder plans to carry a balance.

This card does have an average annual fee of $49, and it charges a monthly maintenance fee of $10 ($120 per year). There is also a one-time account set-up fee of $99 and a one-time program participation fee of $89. This means that the total amount of fees that a cardholder can expect to pay in the first year will be $357. However, the total amount of fees will only be $169 annually after the first year.

Therefore, those who want a second chance with their credit, do not mind paying the various fees, and would prefer an unsecured credit card may find the Continental Finance MasterCard® to be beneficial.

Cardholder benefit/s:

• Get Your Application Results in Seconds

• Monthly reporting to the Major Credit Bureaus

• FREE Online Access

• Excellent Online Tools for Managing Your Finances

• Frequent Credit Limit Increases

• No Minimum Monthly Income Requirements*

• Unsecured MasterCard Accepted at Millions of Locations Worldwide

* See website for additional benefits

Note: We suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application since the information may have changed since the review is written.

Reviewed on June 20, 2007