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Continental Finance MasterCard® Review
Issued by First Bank of Delaware
  
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Overall Rating:
Benefit Rating:
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The Continental Finance MasterCard®, issued by First Bank of Delaware, is a credit card designed for those with poor credit who would like a second chance.
The main benefit of this unsecured credit card is that it reports to credit bureaus. This is a rare opportunity for those with poor credit who would otherwise only qualify for secured or prepaid cards, which often do not report to credit bureaus or charge fees to report to credit bureaus.
This card has an above average APR of 19.92%, and it has an annual fee of $50. It also charges a monthly maintenance fee of $12 ($144 per year). However, the monthly maintenance fee is waived for the first month. There is a one-time account processing fee of $200. This means that the total amount of fees that a cardholder can expect to pay in the first year will be $382.
Cardholders will also receive free online access, excellent online tools for managing their finances, and semi-annual credit limit increases*.
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.
The main benefit of this unsecured credit card is that it reports to credit bureaus. This is a rare opportunity for those with poor credit who would otherwise only qualify for secured or prepaid cards, which often do not report to credit bureaus or charge fees to report to credit bureaus.
This card has an above average APR of 19.92%, and it has an annual fee of $50. It also charges a monthly maintenance fee of $12 ($144 per year). However, the monthly maintenance fee is waived for the first month. There is a one-time account processing fee of $200. This means that the total amount of fees that a cardholder can expect to pay in the first year will be $382.
Cardholders will also receive free online access, excellent online tools for managing their finances, and semi-annual credit limit increases*.
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.
Review Date: July 01, 2008
Note: The review on this card was updated on July 01, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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No Introductory Rate Available |
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Purchase APR:
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19.92% (Fixed) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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19.92% (Fixed) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$50 |
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Annual Fee Details:
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**There is a $30 fee for each authorized user cardholders add to their account. |
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Additional Cardholders:
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$30** |
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Grace Period:
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25 Days (Min.) |
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Late Payment Fee:
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$35 |
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Over the Limit Fee:
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$35 |
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Cash Advance Fee:
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3%, $5 minimum |
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Participation Fee:
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$144 ($12 monthly)*** |
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Total First Year Fees:
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$382 |
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Minimum Credit Limit:
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$300 |
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Maximum Credit Limit:
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$2,000 |
| Features | |
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Most Attractive Feature(s):
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| Reports to credit bureaus; no security deposit required. | |
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Least Attractive Feature(s):
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| Annual and monthly fees. | |
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Additional Features:
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| *Access to semi-annual credit limit increases. Various Internet account related services. See website for additional benefits. |
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Important Notations
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| *See website for other fees, rates, terms, and conditions. ***The monthly maintenance fee of $12 is waived for the first month. There is a one-time account processing fee of $200. There is a $35 fee for returned payments. There is a $25 fee for credit limit increases. There is a $4 fee for Internet payments. See website for complete terms and conditions of card usage and application disclosure. | |
