January 9, 2009
Continental Finance Credit Card - Review
This card is a sub prime unsecured card. This means the Continental Finance Card is designed specifically for individuals looking for a second chance with credit.
This card has an initial credit limit of $300. With semi-annual credit limit increases up to a maximum limit of $2000.
This card does report monthly to all three credit bureaus. It is frequently used as a second chance credit card.
This will help your score because it will improve your ratio of debt to available credit. In addition you can create a positive payment history by paying your monthly bill.
These two factors have a tremendous impact on your credit score. It is still important to remove bad credit items from your credit reports.
This card is unsecured which means that you do not have to put a deposit down. However you will have to pay an annual fee. This is typical with sub prime cards.
It does offer 9.75% APR, which is well below the standard 19% APR that most sub prime credit cards offer. It is accepted at millions of locations worldwide.
There is an easy approval process, and can be used by people with a bankruptcy on their credit history. You will get the results of your application with seconds of completing it online.
This card is issued by the First Bank of Delaware. This bank has been a leader in sub prime lending for years.
In addition you will receive online account access. This card works just like any other credit card, you will be responsible to pay your monthly bill.
The alternative is a secured credit card. However with this card it will take you longer to rebuild your score because this card is reported to the bureaus as a secured line of credit.
You also can qualify for a shopping card. We do not suggest these cards because they often come with large fees and only report to one credit bureau.
In sum we do suggest the Continental Finance Card to anyone looking for a second chance with credit. You can use this card to re-establish your credit score and build positive credit because it will improve your ratio of debit to available credit and can create a positive payment history.






















