The Continental Finance MasterCard® is a credit card issued by First Bank of Delaware and will appeal to those with poor credit or no credit. But being an unsecured card and aiming at people with bad credit, it surely leads to high fees. If you have a good credit this card is definitely not for you.
- Our rating:C
- Interest rate: 19.92%
- Earning rewards: none
- Reward options: none
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The account processing fee is $200 (one time), the annual fee is $50 and the account maintenance fee is $80 annually (but is billed to your credit card in equal monthly installments of $15).
The APR is 19.92% and they use average daily balance method to calculate monthly balances. The Continental Finance MasterCard® uses the monthly periodic rate which should lead to in lower effective rate. The grace period is not less than 25 days from the Statement Date.
The initial credit given is $300 but after deducting all the fees the available credit will be only $50. Over time the credit limit can be extended to maximum $2,000. Each Credit Limit increase is $75. You can qualify for Credit Limit increases beginning with the sixth month your account is open only if you satisfy the criteria imposed.
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The transaction fee for cash advances is 3% but no less than $5.00. If you use the card to pay in a foreign currency the transaction fee is 2% of any transaction made in foreign currency which is converted into US Dollar by Visa or MasterCard.
The offer is not valid for non-US residents, residents of New York and Wisconsin and residents under 18 years old (19 years old in Alabama and Nebraska).