Fit Mastercard® Credit Card Review

Fit Master Card Review
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The Fit Mastercard® Credit Card is a card you should consider if you trying to build or repair your credit, because it reports to all three credit bureaus. However, the card is expensive and the APR is less than desirable.
  • Annual Fee:
    $99
  • Regular APR:
    29.99% Variable
  • Recommended Credit Score:
    N/A

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If you have bad or no credit, you may think you can’t get a credit card, or you can only get a secured credit card. Fit Mastercard® changed this with their unsecured credit card option created to help consumers build or repair their credit.

Is the Fit Mastercard worth it? Check out our review to find out.

Fit Mastercard® Pros and Cons

Pros:

  • Easy to qualify for
  • No security deposit
  • Automatic credit line increases every 6 months
  • $0 fraud liability coverage
  • Reports to all three credit bureaus

Cons:

  • Charges a one-time fee at application
  • High annual fees
  • Charges a monthly maintenance fee after the first 12 months
  • No rewards
  • High APR

What Is the Fit Mastercard®?

The Fit Mastercard® is meant for people who need to build a credit history and want an unsecured credit card. It doesn’t come cheap and doesn’t offer any rewards, so look at your options closely.

The largest benefit of this credit card is that they report to all three credit bureaus, which is important when you’re trying to build or improve your credit score.

How Does the Fit Mastercard® Work?

The Fit Mastercard® starts with a $400 credit line for anyone they approve. It doesn’t require a security deposit like most credit cards that help you build credit.

It also comes with $0 fraud liability, and you may be eligible for credit line increases every 6 months, or at least they’ll review your account to see if you’re eligible.

The credit building comes at a high price, though. Fit Mastercard®charges a one-time processing fee of $89, an annual fee of $99, and a monthly maintenance fee of $6.25 after the first 12 months.

The $99 annual fee comes right off your account credit limit, so if you are approved for the full $400, you’d have only $301 available to start. The one-time $89 fee does not come off your credit limit (but you must pay it).

Beyond the fees, the Fit Mastercard® works just like any other credit card. You can use it anywhere Mastercard® is accepted.

You’ll be responsible for making at least the minimum payment, but we recommend only charging what you can afford to pay off in full, especially if you’re trying to build or repair your credit.

Fit Mastercard® Review

  • Annual Fee: $99 per year
  • Annual APR: 29.99%
  • Rewards: none

Fit Mastercard® Credit Card Features and Benefits

Despite its costs, the Fit Mastercard® has some benefits you may enjoy, especially if you need help building or fixing your credit.

$400 Initial Credit Limit

You may receive up to a $400 credit limit. The exact amount depends on your qualifying factors. Not everyone automatically gets $400.

Even if you don’t, though, you can work your way up. The key is to get an unsecured credit card that reports to the credit bureaus.

Reporting to All Three Credit Bureaus

Having a revolving debt account report to the credit bureaus can help your credit score quickly in a couple of ways.

First, if you demonstrate the ability to handle your revolving debt responsibly, it will help your credit.

Keep your outstanding credit at no more than 30% of your credit limit, and you’ll increase your credit score.

If you get the full $400 credit limit, this means a balance of no more than $120 at any time.

Again, we recommend that you pay your balance in full each month. A 29.99% APR adds up fast on even small balances.

Even if you only make the minimum payment, if you make it before your due date (or on it), it helps your credit score.

Your payment history makes up the largest portion of your credit score, so any on-time payments you can add to your credit history will help your score.

Great Card to Improve or Build Credit

Even though it comes with fees, the Fit Mastercard® offers a great opportunity to turn your credit around.

Not all credit cards report to all three bureaus. They typically choose one or two bureaus at the most to report to, which makes it hard to bring up your score with that second or third bureau.

Credit Limit Increase After 6 Months

Everyone is eligible for credit limit increase reviews every six months. There’s no guarantee you’ll get the increase, but if you pay your bill on time and use your card responsibly, you may get it.

A higher credit limit lowers your credit utilization rate (amount of outstanding credit compared to your credit line), which improves your credit score.

Plus, it increases the amount you can charge if you’re using the card to show that you can use the credit card and pay it off each month.

$0 Fraud Liability

If your credit card is lost or stolen, you will not be responsible for the charges incurred if you report the card lost or stolen right away.

Fit Mastercard® Fees Explained and Analyzed

The fees are an area the Fit Mastercard® doesn’t shine. It’s an expensive credit card, but it has many benefits that offset it.

But, like any personal finance decision, you should always evaluate the cost so you can determine if it’s right for you.

The Fit Mastercard® charges many fees, including:

  • One-time processing fee of $89 – We aren’t sure what this fee is for, but everyone pays it and only when they first get the credit card. You won’t pay it again.
  • Annual fee of $99 – Everyone pays an annual fee, including when you first get the card. Essentially, the card costs you $188 upfront and then $99 every year on the card anniversary.
  • Monthly maintenance fee of $6.25 – Again, we aren’t sure what this fee covers, but everyone pays it monthly after the first 12 months.

How Does the Fit Mastercard® Compare to Other Cards?

The Fit Mastercard® isn’t the only credit card to help you build or fix credit. Here are your other options and how they compare.

#1. Fit Mastercard® vs. OpenSky® Secured Visa® Credit Card

If you’d prefer a secured credit card or won’t qualify for an unsecured card, the OpenSky® Secured Visa® Credit Card offers a viable option.

Your credit line is equal to your deposit. If you default on the card, OpenSky® keeps your deposit.

Be careful though, this card has a $35 annual fee and doesn’t offer the option to upgrade to an unsecured card like many secured credit cards offer.

#2. Secured Mastercard® from Capital One vs. Fit Mastercard®

The Secured Mastercard® from Capital One offers more flexibility than your standard secured credit card because your credit line is equal to an amount larger than your deposit.

Depending on your qualifying factors, a deposit of $49, $99, or $200 could get you a $200 credit line.

You can also deposit more money to get a credit line up to $1,000. There’s no annual fee, and you may secure a higher credit line with on-time payments for 6 months.

#3. Fit Mastercard® vs. Reflex Mastercard

The Reflex Mastercard is like the Fit Mastercard®, heavy in fees and a high APR. It’s targeted at consumers with bad credit, but it reports to all three credit bureaus, which is its draw.

The Reflex Mastercard charges an annual fee of $75 or $99 and an annual maintenance fee of up to $120 a year, charged monthly after the first 12 months.

#4. Fit Mastercard® vs. Fortiva® Credit Card

The Fortiva® Credit Card offers an alternative to secured credit cards too. It’s a card for consumers with bad credit, but it also has high fees.

The annual fee, for example, varies from $49 to $175, depending on your qualifying factors.

There is also an annual account maintenance fee of $60 to $159 per year and an authorized user fee of $25 per person.

Frequently Asked Questions

Is the Fit Mastercard® a Good Credit Card?

If you have bad credit and don’t have the money for a secured credit card, the Fit Mastercard® may be an option, but look at all your options.

It’s expensive to obtain and keep, so it may be in your best interest to save up for a secured card or look for a cheaper unsecured card that doesn’t charge such high fees, especially the monthly maintenance fee.

Is the Fit Mastercard® Worth It?

The Fit Mastercard® is worth it for some if they need to build their credit or repair it. Again, there are many options out there, so see what you qualify for first.

You may think the worst, assuming you can only get the Fit Mastercard® and pay the high fees when you qualify for another card with lower fees that offer the same benefits.

Does Fit Mastercard® Give Credit Limit Increases?

Fit Mastercard® evaluates your account every six months to see if you’re eligible for a credit line increase. If you use your credit responsibly and pay your bills on time, you may be well on your way to a higher credit limit.

What Credit Score Is Needed for the Fit Mastercard®?

Fit Mastercard® doesn’t specify what credit score consumers need to get approved. They require that all applicants have a checking account to qualify. Most people claim they qualify with ‘bad’ or even no credit.

Bottom Line: Fit Mastercard® Review

If you consider the Fit Mastercard®, weigh it against all of your options. While the card reports to all three credit bureaus, which can help you build credit, it comes with a lot of fees and a high APR.

If it’s your only option, use it to build your credit back up and then close it, replacing it with a less expensive alternative.

Kim Pinnelli
Kim Pinnelli

Kim Pinnelli is a Senior Writer, Editor, & Product Analyst with a Bachelor’s Degree in Finance from the University of Illinois at Chicago. She has been a professional financial writer for over 15 years, and has appeared in a myriad of industry leading financial media outlets. Leveraging her personal experience, Kim is committed to helping people take charge of their personal finances and make simple financial decisions.