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Additional Details, Terms and Conditions |
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| Category | Poor Credit |
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| Status | Gold |
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| Intro Applies To | None |
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| APR for Purchases | 9.750 |
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| Purchase Rate Type | Fixed |
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| APR for Cash Advances | 19.920 |
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| Cash Advance Rate Type | Fixed |
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| Finance Charge Calculation | Average Daily Balance (including new purchases) |
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| Annual Fee | $25 |
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| Additional Annual Fees | $30** |
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| Annual Fee Detail | **There is a $30 fee for each authorized user cardholders add to their account. |
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| Grace Period | 25 Days (Min.) |
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| Late Payment Fee | $35 |
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| Over Limit Fee | $35 |
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| Cash Advance Fee | 3%, $5 minimum |
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| Minimum Balance Transfer | $300 |
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| Maximum Balance Transfer | $2,000 |
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| Total of First Year Fees | $357 |
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| Additional Perks | Access to semi-annual credit limit increases.*
Various Internet account related services.
See website for additional benefits. |
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| Notations | *See website for other fees, rates, and terms of 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.
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| Features / Benefits: | Rates As Low as 9.75% APR* |
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| 1 | Unsecured MasterCard Accepted at Millions of Locations Worldwide |
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| 2 | Monthly Reporting to the Major Credit Bureaus |
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| 3 | FREE Online Access |
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| 4 | Excellent Online Tools for Managing Your Finances |
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| 5 | Semi-Annual Credit Limit Increases* |
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| 6 | Prestige of Carrying a Gold Card |
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| 7 | *See Website for Other Fees, Rates, and Terms and Conditions |
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| Rating | 4.00 |
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| Benefit Rating | 3.00 |
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| Best Feature | Reports to credit bureaus; no security deposit required. |
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| Worst Feature | Annual and monthly fees. |
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| Review | The Continental Finance Gold 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 a very low APR of 9.75%, and it has an annual fee of $25. 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 $357.
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 Gold MasterCard® to be beneficial. |
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| Date of Data Update | 2008-10-02 00:00:00 |
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