MoneyGeek’s Take

Fit Mastercard Credit Card Review

Fit Mastercard Credit Card is a credit card designed for individuals with fair or bad credit and those looking to build or repair their credit score. It offers an initial credit line of $400 and can be used at any store or establishment that accepts Mastercard.

Last Updated: 5/30/2022
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One of the most notable Fit Mastercard Credit Card benefits is that it's designed to help you establish or rebuild your credit, with its low entry barrier in terms of creditworthiness. Also, it reports to the three major credit bureaus. Starting at a $400 credit line, consumers are allowed to request a credit limit increase as early as six months after opening their account. MoneyGeek’s Fit Mastercard Credit Card review will help you decide if this credit card is suitable for your profile and needs.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Has Rewarding Welcome Offer
  • Credit Needed
    Poor-Fair
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

Fit Mastercard Credit Card at a Glance

Since Fit Mastercard Credit Card caters to individuals with bad credit or no credit, it is ideal for creating or rebuilding credit. However, the steep APR and fees will require financial discipline if one wants to avoid excessive balances at the end of each month.


  • Fit Mastercard Credit Card

    An unsecured credit card meant for those who wish to rebuild their credit


    • Poor-FairCredit Needed
    • $99Annual Fee
    • 3# of Reporting Bureaus
    • 29.99%APR

Pros & Cons Explained

While the Fit Mastercard Credit Card offers plenty of benefits, it's also necessary to consider its drawbacks.

Pros

  • Benefits
    Description
  • Possibility of a higher credit limit after the first six months
    The initial credit line of $400 can easily double after six months depending on factors like your income. You can request higher credit limits every six months to increase your spending power.
  • Accepts applicants with bad or no credit
    The entry barrier of the Fit Mastercard Credit Card application is very low, and those with bad credit or no credit are eligible to apply. Repairing or building your credit is one of the main uses of this card. It reports to all major credit bureaus and provides a free monthly credit score check.
  • Unsecured credit card
    Fit Mastercard Credit Card is an unsecured credit card, which means that it does not require a security deposit to open an account. This is useful for those in need of a credit card without high initial payments.

Cons

  • Drawbacks
    Description
  • High standard APRs on purchases and cash advances
    Fit Mastercard Credit Card’s APR is 29.99%, which is higher than what most credit cards offer. This APR applies to purchases and cash advances. This card is recommended for those who intend to pay their balance in full every month, otherwise, the high APR can become a financial strain.
  • High fees
    There are also other charges such as the $89 one-time processing fee, $40 late or returned payment fees, 3% foreign transaction fees, 5% cash advance fee, $99 annual fee and $6.25 monthly maintenance fee (applicable after one year of account opening). The one-time processing fee is subtracted from the initial credit line. However, if late and returned payment fees are incurred, the cardholder will be responsible to pay for only of them.
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INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022?

Every month, the MoneyGeek Team examines each credit card and chooses the top recommendations for popular card categories. Take a look at the best credit cards for bad credit in 2022.

Other Features Explained

Other features and advantages of the Fit Mastercard Credit Card include:

  • Card Feature
    Description
  • Free Monthly Credit Score
    When you sign up for e-statements, you'll have access to this feature. You may check your score every month. You can see the impact of timely monthly payments on your credit score, which can be helpful if you're developing credit for the first time or repairing your credit.
  • Authorized User
    It's simple to add an authorized user to your card and watch their spending. It will cost $30 for each additional user.
  • Fraud Liability Protection
    You won't be held accountable for illegal charges if your card is stolen or used without your permission. This means that you're only liable for the transactions you make with your card.
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MONEYGEEK QUICK TIP

Ensure that your payment is not past due on the final day of each billing cycle so as to remain in good standing with your credit company and quickly rebuild your credit. Be aware of the expenses you can otherwise incur due to the high APR and late fees.

Understanding the Fine Print

  • Card Feature
    Amount or Rate
  • APR
    29.99%
  • Annual Fee
    $99
  • Balance Transfer Fee
    Unspecified
  • Balance Transfer APR
    Unspecified
  • Late Fees
    $40.00
  • This is an icon

    APR

    Purchases and cash advances are subject to a pretty high variable APR of 26.99% with the Fit Mastercard Credit Card. In addition, interest is charged on balance transfers and cash advances from the date of the transaction. This APR is subject to change depending on the current prime rate as reported in The Wall Street Journal each quarter.

  • This is an icon

    Annual and Maintenance Fee

    The Fit Mastercard Credit Card charges an annual fee of $99. Moreover, after 12 billing cycles, the cardholder will be subject to a $75 maintenance fee, which translates to $6.25 per month.

  • Late and Returned Payment Fee

    Avoid being late on payments and attempting to cover a bill with insufficient funds. Aside from hurting your credit score, which counteracts one of the main purposes of owning this card, it also charges $40 for late or returned payments. Late fees have no grace period. However, if you incur both penalties, you’ll only be charged for one.

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WHERE TO FIND THIS INFORMATION?

Pay great attention to the APR and any related costs when comparing this card to other cards for individuals with poor credit. If you want to compare it to a card you already have, look over your most recent billing statement or visit your card provider's website, mobile app or your online banking account. Additionally, you may look for information in the Consumer Financial Protection Bureau's (CFPB) credit card agreement database.

Who Should & Shouldn’t Consider Fit Mastercard Credit Card?

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Other Considerations for Fit Mastercard Credit Card

Because Fit Mastercard Credit Card’s credit score requirement is low to none, this is a good first credit card for consideration. The application process is pretty straightforward as well. However, the high APR and other charges, such as late fees and returned payment fees, are something to carefully consider as you might overspend and risk late payment. If you plan to make it your only card, understand that this card does not offer cash back or any other reward, aside from building your credit.

Things to Consider if This Will Be Your First or Only Credit Card

Because Fit Mastercard Credit Card’s credit score requirement is low to none, this is a good first credit card for consideration. The application process is pretty straightforward as well. However, the high APR and other charges, such as late fees and returned payment fees, are something to carefully consider as you might overspend and risk late payment. If you plan to make it your only card, understand that this card does not offer cash back or any other reward, aside from building your credit.

Things to Consider if This Will Be an Additional Card in Your Wallet

If the Fit Mastercard Credit Card is a new addition to your wallet, compare the rewards and fees of your other frequently used cards. You may, for example, be able to move your spending or purchases to your new card to take advantage of the lower APR intro offer or build up points to help pay for trips or bills.

You must factor in the card's high purchase APR, particularly if you know that you probably can't pay off your bills every month. Also, consider only using your other cards until your credit score improves to apply for those with better offers.

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WHY TRUST OUR REVIEWS:

MoneyGeek follows a specific set of methodology and review process where we collect, analyze and compare about 56 different data points for each card and category. Our credit card rankings and recommendations are based on our analysis of Bank of America's (BLS) spending data for each card. Using a spend profile based on the mean American household from the Bureau of Labor Statistics, we projected the expected annual spending across multiple categories of purchases. The output of our calculations determines which credit cards are featured in our 'Best Cards Lists' every month.

How Fit Mastercard Credit Card Compares to Other Cards

Because of its minimal credit requirements and free monthly credit scores, this card is a contender against many other credit cards for people with bad credit. However, figuring out how it stacks up against other similar cards ultimately comes down to what you prioritize in a credit card.

Quick Comparison of Fit Mastercard Credit Card

creditCard

Fit Mastercard Credit Card

  • APR: 29.99%
  • Security deposit: $0
  • Annual fee: $99
  • Best for: Individuals with poor credit
creditCard1

Citi Secured Mastercard

  • APR: 22.74% Variable
  • Security deposit: $200
  • Annual fee: $0
  • Best for: Individuals with limited or no credit history

Other Helpful Decision-Making Q&As

Here are some answers to commonly asked questions about the Fit Mastercard Credit Card which can help you make informed decisions.

Still not sure about this card? Consider these options.

If you're not sure if this card is right for you, compare it to some of the best credit cards for those with bad credit. You could be better off with a rewards card or a balance transfer card if you have at least fair or good credit.

Learn more about credit cards in general

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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