If you are looking at the Reflex credit card for the first time, we are sure the associated fees would make you flinch. Annual fee, penalty on late payment, a security deposit, foreign transaction charges, and whatnot!
That makes us wonder if it is a good choice at all?
We are here to make you second-think your impression!
Reflex Credit Card at a Glance
Just so you have a better idea of what you are dealing with, here are few things you should know about this card.
Did You Know? The Reflex card is given out by the Celtic Bank of Utah. This service is powered by Continental Financial Co.
It carries an annual fee of up to $99. The actual amount would depend on your creditworthiness. Additionally, the APR can be as high as 29.99%.
The good news is that the card is available for those with a poor credit score so you can use it to improve your financial standing in front of the credit bureaus.
Yourreflexcard is also available with pre-qualified offers sent out by the bank. If you have not received the pre-approved mail offer, you can easily check if you qualify for it online without hurting your credit score.
Luckily, the card will give you access to free VantageScore from TransUnion. You will also get to enjoy $0 fraud liability if you lose the card or it is stolen. Additionally, its use is permitted at millions of locations around the US.
Why Reflex Credit Card Might Not Be For You
Whether the card is suitable for you or not depends on what you need from the plastic in your wallet.
This is not a good choice if the primary aim was to avoid high charges and APRs. There are also no rewards such as cash backs, discounts, or bonus miles.
Note! In order to apply for the Reflex Credit Card, you must have an active checking account.
The truth is that the card is not entirely a bad choice. However, we do suggest that you avoid it in case you have other credit card options available with the current credit score.
Going for the reflex card only seems relevant when you are not being approved for a card with the on-going credit situation. In this case, it is best to start with what you have but maintain timely payments so your score can improve over time. If you don’t like these cards there are a lot of alternatives in the market including platinumoffer & getmyoffer etc.
It makes sense! Since the bank is giving you a chance even with a low score, the compensation would come in the form of a high annual fee and penalty charges if you miss a payment.
Nonetheless, fixing your credit standing with a Reflex card would be much easier if you manage to pay the bills on time. Another important tip is to pay in full whenever possible and only use less than 30% of the available credit limit. These small changes in your spending pattern would help you boost your score fast.