Reflex Mastercard Review

The Reflex Mastercard is ideal for those who want to re-establish their credit or build good credit from scratch. It offers an initial credit limit of $300 to $750 and a $0 fraud liability policy that ensures you won’t be responsible for charges you didn’t make. The card also reports to all three major credit reporting agencies and can help you boost credit if you use it properly.

However, it comes with a steep APR of 25.90% to 29.99%(variable), depending on your credit score. You’ll also need to pay an annual fee of up to $99 the first year and a monthly maintenance fee of up to $10 a month during your second year. The card welcomes people with all credit scores to apply. For more information, check out our Reflex Credit Card review below.

What is the Reflex Mastercard?

The Reflex Mastercard is a line of credit issued by Celtic Bank and serviced by Continental Finance Company. Celtic Bank was founded in 2001 and is a leading nationwide residential construction lender and small business lender. Their headquarters is located in Salt Lake City, Utah. The industrial bank is privately owned and chartered by the state of Utah. In 2014, the bank was named the 8th largest SBA lender in the nation.

Continental Finance Company was founded in 2005. They are one of the nation’s leading service providers for people with less than perfect credit. They specialize in providing access to credit to customers who are usually overlooked by other lenders. The consumer finance company comes with a state of the art marketing, serving, and underwriting platform. They provide a variety of services to customers when other banks cannot accommodate them. Together, both institutions specialize in fair treatment and strong customer support.

It’s important to find a company that reports to all three credit bureaus if you’re trying to boost your credit. This is because it ensures accuracy across all three institutions. Your credit report should look the same among all three agencies. If your credit institution only reports to one agency, this may cause inaccuracies between the three. Other notable features provided by the Reflex credit card include an initial credit limit of $300 to $750 (depending on your credit score) and a quick approval. Plus, you’ll enjoy a $0 fraud protection coverage and you can use your card anywhere Mastercard is accepted.

What Does It Offer?

The Reflex Mastercard offers a chance to boost your credit when other banks or institutions say no. The card encourages people with all types of credit to apply. They will report your activity to all three major credit reporting agencies. This gives you an opportunity to boost your credit when other lenders won’t work with you. The application process is fast and you can qualify for a credit limit of up to $750. However, the card comes with several fees to be aware of, including a monthly maintenance fee, an annual fee, and higher-than-average APRs. Your credit score will ultimately dictate your credit limit and APR. Most people who use this card are either just starting out and need to build credit, or they need to re-establish their credit after some late payments.

Here are some highlights of the card’s key terms and conditions:

  • Annual fee: up to $99
  • Monthly maintenance fee: $0 to $120 each year billed at increments of $0 to $10 per month (you will not be charged a monthly maintenance fee the first year your account is open)
  • Additional card fee if applicable: $30
  • APR for purchases and cash advances: 25.90% to 29.99%, (variable) depending on the prime rate
  • Minimum interest charge: None
  • Transaction fees are sometimes not billed for the first 12 months your account is open
  • Cash advance fees: either $5 or 5% of the amount, whichever is greater
  • Foreign transaction fees: 3% of each amount in United States currency
  • Late payment and returned payment: up to $40 each

The Reflex Mastercard also offers a program called credit protection. This program is an optional debt cancellation program that is offered when you open an account. It protects you in the event of a job loss or disability. The credit protection program covers up to 12 continuous minimum monthly payments for all primary cardholders. It also provides coverage for one minimum monthly payment if you’re hospitalized and will cancel the full amount if death occurs.

Reflex also ensures that your information is safe and secure. They use encryption technology and advanced encryption techniques, such as Secure Socket Layer technology. If your credit card gets lost or stolen, then you have 24 hours to contact Reflex. They will cancel your card and send you a new one. The company states that you will not be responsible for unauthorized charges after you notify them. However, you might be responsible for charges that are made before you contact them. The company promises that your dues will not exceed $50 even if you fail to notify them right away.

How Does It Work?

The Reflex Mastercard® operates as a normal credit card. You can use it to make purchases and obtain cash advances. You can set up a PIN to help keep your account secure. Setting up a PIN allows you to obtain a cash advance anytime, as long as it’s 95 days after opening your account. This must be done at an ATM that accepts Mastercard. Your credit limit is the maximum amount of money that you are allowed to spend using your card. This number, along with your APR, will be disclosed to you before you open your account. Keep in mind that your APR may vary based on the prime rate.

Reflex uses a method called the average daily balance to determine your balance. This includes new purchases. To find the average daily balances of purchases, Reflex takes your outstanding balance each day and adds any new purchases. Then they subtract any credits or payments. This will give you your daily balance of purchases. Then, they add all of the daily balances or purchases for the entire billing cycle. This provides the average daily balance for purchases. To get the average daily balances of cash advances, you will need to follow the same formula.

The Reflex credit card can be fully managed online. You can log into your account to pay your bill or view your previous statements and payment history. You can also communicate with Reflex through your online portal. Reflex uses a scoring system known as Vantage 3.0 to track your credit progress. There is a difference between your FICO score and Vantage score. However, they are both useful tools for monitoring your financial progress. Vantage scores use a different scoring method than a FICO score. A Vantage score uses a points system that ranges from 300 to 500. No matter what the score range is, a higher score indicates that you are more trustworthy than someone with a lower score.

Ultimately, the Reflex Mastercard® works by providing you with an opportunity to boost your credit score. You can do this by paying your bills on time every month. It’s a good idea to keep your credit limit low even if you qualify for higher. This will ensure that you can afford each payment. Paying your bills on time is also a good way to avoid paying interest in any outstanding balances. The Reflex credit card has a higher-than-average APR. By keeping your payments small, you’ll also be able to avoid paying interest. Building your credit with Reflex also helps guarantee that your FICO score will be accurate among all three credit reporting agencies. This will help you avoid any disputes in the future against inaccurate information or activity.

The Reflex Mastercard: Pros and Cons

The Reflex Mastercard® is an ideal card for someone just starting out. It can also be used if you need to improve a bad credit score. It has a higher credit limit than other starter cards. For example, you’ll get $300 to $750 in initial credit, depending on your credit score. Most credit cards for bad credit only offer $200 or less. However, the card comes with several fees that may turn you off if you’re trying to avoid hidden fees. This sometimes includes an annual fee of up to $99 and a monthly maintenance fee of $10 starting the second year. You’ll also be charged $30 for any additional cards you take out.

Here are some other pros and cons of the Reflex credit card to consider:

Reflex Mastercard PROS

  • The company reports your activity to all three major credit reporting agencies, not just one or two
  • You can use this card to build credit from scratch or re-establish damaged credit
  • The application process is quick; you’ll get a response within seconds
  • Your initial credit limit is $300 to $750, based on your credit score
  • There is also a credit protection plan offered for an affordable rate
  • The card encourages people with all credit scores to apply
  • You can add authorized users to your account
  • You can manage your account online 24/7
  • There is a $0 fraud protection plan available
  • The card is accepted anywhere Mastercard is

Reflex Mastercard CONS

  • The card comes with numerous fees, including an annual fee of up to $99 for the first year. After that, you’ll be charged a monthly maintenance fee of up to $10 per month. You’ll also be subject to higher-than-average interest fees of 25.90% to 29.99%. Keep in mind that this card is designed for those with bad credit or no credit at all. This is why the APR is higher. If you have good credit, then you may want to consider a card without annual fees and a lower APR to save money.

How To Apply

The Reflex credit card has a quick application process. That’s one of its primary selling points. You can apply for a Reflex credit card by visiting the website or by calling the toll-free customer service number. If you were sent a pre-selected offer through the mail, then you can apply by responding to the offer you received in the mail. You will need to provide the following information to apply:

  • Your full name
  • Social security number
  • Date of birth
  • Physical address (no P.O. Boxes allowed)
  • Estimated monthly income

Your personal information, including your social security number, is used to pull your credit report. Reflex will use this information to approve you. They will also use it to determine your credit terms, including your credit limit and APR. Be sure that you are ready to take out a credit card before allowing them to do a hard inquiry on your credit. These will show up on your credit report and having too many on your report can negatively impact your score.

The Reflex website states that in most cases, you’ll be notified within seconds if you are approved. In other instances, it might take up to 30 days to get an approval. Once you are approved and fully fund your security deposit (if applicable), then you can expect to receive your credit card within three business days. You will be granted a credit limit of $300 to $750 as soon as your account opens. You can activate your card by calling the toll-free number provided on the card. Your card cannot be activated online. If you do not activate your card within 30 days, then your account will be closed. Your security deposit can be paid over the phone.

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CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.


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