Unsecured cards have multiple benefits in comparison to the secured credit cards. The major one is that users don’t have to pay the security deposit. As there are multiple cards in the market, a quick comparison can help in eliminating the confusion. Thus, let’s check fit MasterCard review, reflex MasterCard reviews, credit cards for bad credit no deposit and review of the surge MasterCard.
The Fit MasterCard is one of the best credit cards with no deposit. Any individual with a bad credit score can purchase the card. He has to pay $89 initially before the account is opened. After this there us an annual fee of $99. The credit limit provided by the company is $400. The best part about fit MasterCard is that company reports the information to all three major credit bureaus. The only thing which can trap a user is high-interest rate. Thus, he should use the card carefully. Now let’s check these key points in detail:
•29.99% APR: The Annual percentage rate of the fit MasterCard is 29.99%. This is very high if any user is keeping the balance for the next month. Thus, it is advised that he should not keep the balance until it is the case of an emergency. He can also use a balance transfer credit card for eliminating the debt. The general APR offered by credit cards is19% approximately.
•$300: The initial credit limit provided by the fit MasterCard is of $300 with an additional $100 for emergency expenses. The major benefit of this credit limit is a user don’t have to pay collateral.
•Monthly fee: This expensive card becomes more expensive if the user closes account earlier. He has to pay a $6.25 monthly fee for two years initially.
Reflex MasterCard: People having bad credit can also purchase reflex MasterCard. The best part is that they don’t have to pay any deposit as the card is unsecured. The company informs the credit usage to all three major credit bureaus. This way the credit is quickly improved. Now let’s check some point of differences:
•Variable annual fees: Users have to pay annual fees between $75 to $99. This is decided according to their creditworthiness. The annual fees are low or equal in comparison to the fit MasterCard.
•Variable monthly fees: Users also have to pay the maintaining fees. This can be $0 to $10 depending upon creditworthiness. In the case of fit MasterCard, users have to pay fixed fees of $6.25 monthly. Thus, if the credit score of any user is good then he should choose to reflex MasterCard as he is getting more benefits.
•Additional fees: Additionally, users have to pay cash advance fees of a minimum $5. This can be increased according to the cash advance limit. In the case of foreign transactions, they have to pay 3% of the total amount.
•Variable credit limit: The credit limit is decided according to the creditworthiness. Users who are having a poor credit may get a credit limit of $300 while users with good credit may get a credit limit of $750.
Surge MasterCard: With surge MasterCard, users don’t have to pay any deposit. Though it is not the top-rated card but some benefits can really help. Let’s check out some point of differences:
•Credit limit: With surge MasterCard, people with bad credit can easily qualify for the credit limit of $500. As the company reports the usage to all major credit card bureaus, the credit is quickly improved.
•Annual fees: For the first year, the annual fees is $125. After the first year, it decreases to $96. In comparison to the cards discussed previously, the surge MasterCard is expensive.
•Monthly fees: The monthly maintenance fees is $10 for a month making it $120 per year. This is also high in comparison to the cards discussed above.