Continental Finance Credit Cards are designed for people who have had issues with their credit. They are for individuals with rough credit, bad credit, or terrible credit/bankruptcy. This is a bad credit credit card.
Continental Finance prides themselves on helping people with bad credit learn better spending and payment habits. They provide semi-annual increases for those individuals that continue to pay their bills on time.
Continental Finance offers three different credit cards, the Continental Finance Gold MasterCard, Continental Finance Classic Blue MasterCard and the Continental Finance Classic MasterCard.
- The Gold MasterCard is for people with rough credit but that have an established credit history with a couple of rough patches. The interest rates for this card starts at 9.75% APR.
- The Classic Blue MasterCard is for people who have bad credit but no bankruptcy or collections. The interest rates start at 16.75% APR for this card.
- Lastly, the Classic MasterCard is for those individuals with terrible credit. For people who have had collections and even bankruptcy. The interest rate for this card starts at 25%.
The Good Points of the Continental Finance Credit Cards
When you compare credit card offers you need to review both the good and bad points of each offer:
- The Gold card offers a low interest rate that isn’t introductory, which means it won’t increase after a certain amount of days.
- All three cards provide people with bad credit the opportunity to get a credit card. For someone with a recent bankruptcy, this can be especially appealing.
- All cards have semi annual increases that range between $75 and $100 each time (typically every 6 months).
- Card limits can eventually reach a total of $1500 to $2000, depending on the card.
- Blue and Classic cards require no minimum income in order to qualify.
The Not So Good Points of the Continental Finance Credit Cards
There are many fees with a Continental Finance Credit card.
- Fees include a $200 set up fee, $75 annual fee, $30 credit increase fee and $18 monthly maintenance fee
- Max starting credit limit is $300; with initial fees, available credit will be $25
- If you are late for one payment, Continental Finance may close your account while still charging you fees.
- Monthly payments start at $35.
- Continental Finance is not currently accepting any new cardholders.
The Bottom Line about Continental Finance Credit Cards
The bottom line is that Continental Finance seems like a good deal at first glance. Once you read the fine print, however, you will find that the many fees, especially the start up fees, means that you will not be able to use your card for a while.
If you have a bankruptcy, then this may be a good first step for reestablishing your credit. Just ensure that you can afford the monthly payments first. At this time, Continental Finance is not currently accepting applications. This makes this card useless at this time, regardless.
For other great credit card options for people with less then perfect credit, compare credit cards right now!
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