Reflex® Platinum Mastercard®

Reflex Platinum Mastercard at a Glance

The Reflex Platinum Mastercard is an unsecured credit card issued by Celtic Bank and serviced by Continental Finance. It is designed for consumers with less-than-perfect credit who want a Mastercard without providing a security deposit.

• Card type: Unsecured Mastercard
• Issuer: Celtic Bank
• Account servicer: Continental Finance
• Initial credit limit: $300, $500, $750 or $1,000 if approved
• Security deposit: None
• Purchase APR: 35.90% fixed under the currently linked terms
• First-year annual fee: $75 or $125, depending on the assigned credit limit
• Monthly maintenance fee: $0 during the first year, then $10 or $12.50 per month
• Credit reporting: Monthly reporting to Equifax, Experian and TransUnion
• Rewards: None

Finance Globe’s Take

The Reflex Platinum Mastercard provides access to an unsecured credit line without requiring a security deposit. Its prequalification feature, credit limits of up to $1,000 and monthly reporting to all three major credit bureaus may make it relevant to someone who has had difficulty qualifying for lower-cost cards.

The primary concern is the total cost. The card has a high APR, charges an annual fee and begins charging a monthly maintenance fee after the first year. The annual fee may also be deducted from the credit line before the card is used, reducing the amount initially available for purchases.

This card makes the most sense when obtaining an unsecured card is important and the cardholder expects to keep spending limited, make every payment on time and preferably pay the statement balance in full. Consumers who qualify for a card with lower account fees may receive better long-term value elsewhere.

How the Reflex Credit Limit Works

Approved applicants may receive an initial credit limit of $300, $500, $750 or $1,000. The amount assigned depends on the application and the issuer’s qualification criteria.

The annual fee is charged to the account and reduces the credit initially available. For example, the current disclosures explain that a $300 credit limit with a $75 first-year annual fee would initially leave approximately $225 available. Selecting an additional card could reduce the available credit further because an additional-card fee may apply.

A higher credit limit does not necessarily mean the card is inexpensive. Applicants should consider the assigned credit limit, first-year annual fee and ongoing fees together before accepting the account.

Reflex Mastercard Fees and APR

The currently linked disclosures list different fees based on the credit limit assigned:

• $300 credit limit: $75 annual fee during the first year and $99 annually thereafter
• $500, $750 or $1,000 credit limit: $125 annual fee
• $300 or $500 credit limit: No monthly maintenance fee during the first year, then $12.50 per month
• $750 or $1,000 credit limit: No monthly maintenance fee during the first year, then $10 per month
• Purchase and cash-advance APR: 35.90%
• Additional-card fee: $30 if an additional card is requested
• Late-payment and returned-payment fees: Up to $41 under the currently linked terms

After the first year, the combined annual and monthly account fees can total approximately $249 with a $300 limit, $275 with a $500 limit, or $245 with a $750 or $1,000 limit. These ongoing costs are important because they continue even if the cardholder does not carry a purchase balance.

The payment due date is at least 25 days after the billing cycle closes. Purchase interest can generally be avoided by paying the entire statement balance by the due date, subject to the account terms. At a 35.90% APR, carrying a balance can become expensive quickly.

Prequalification and Application

The current Reflex offer allows consumers to check for prequalification without affecting their credit score. It also states that there is no credit-score impact if the applicant is not approved.

Prequalification is not a guarantee of approval, a particular credit limit or specific account terms. The issuer may consider credit history, existing debt, income, identity-verification information and other application details when making a final decision.

Finance Globe does not recommend a particular FICO score or claim that applicants above a specific score are likely to be approved. Credit scores are only one part of an issuer’s decision.

Does the Reflex Mastercard Report to the Credit Bureaus?

Yes. Continental Finance states that Reflex account activity is reported monthly to Equifax, Experian and TransUnion. This gives cardholders an opportunity to establish payment history across all three major credit bureaus.

Credit reporting does not guarantee that a credit score will improve. Payment history, account balances, credit utilization and activity elsewhere in a credit report can all affect a consumer’s score.

Late or missed payments and high balances may negatively affect a credit profile. Cardholders should make at least the minimum payment by the due date and keep the balance manageable.

Reflex Card Activation and Account Access

Finance Globe does not issue, activate or service Reflex accounts. New cardholders should follow the activation instructions provided with the card rather than entering account information on an unfamiliar website found through a search result.

The official Reflex website states that new and replacement cards can be activated online or by telephone. To activate online, use the website printed on the back of the card and select the activation option. To activate by telephone, call the toll-free activation number printed on the sticker attached to the new card. Reflex advises completing activation within 30 days of receiving the card.

Existing cardholders can use the official online account-management portal to view statements and transactions, check the balance and payment due date, review payment history and make a payment.

What to Look for in Reflex Mastercard Reviews

When comparing Reflex reviews, pay close attention to the credit limit and fee schedule described by each reviewer. An account with a $300 credit limit has a different annual and monthly fee combination than an account with a $750 or $1,000 limit.

Cardholder experiences with application decisions, customer service or credit-limit changes can provide useful context, but an individual review does not predict another applicant’s approval, limit or terms. The current application disclosures should remain the primary source for rates and fees.

Who the Reflex Platinum Mastercard May Be Useful For

The Reflex Platinum Mastercard may be worth considering for someone who:

• Wants an unsecured card without providing a security deposit
• Has experienced difficulty qualifying for traditional credit cards
• Wants monthly reporting to all three major credit bureaus
• Would benefit from checking for prequalification before applying
• Understands that account fees reduce the card’s overall value
• Plans to keep the balance low and make every payment on time
• Does not need cash-back, points or travel rewards

Important Things to Consider

• The annual fee can reduce the credit available before the card is used.
• The card charges both an annual fee and a monthly maintenance fee after the first year.
• The exact fee combination depends on the assigned credit limit.
• The 35.90% APR makes carrying a balance expensive.
• The card does not currently earn purchase rewards.
• Prequalification does not guarantee final approval.
• Monthly credit reporting does not guarantee an improvement in a credit score.
• The rates and fees shown during the application process control if they differ from information displayed elsewhere.

Frequently Asked Questions

Is the Reflex Platinum Mastercard a secured card?

No. It is an unsecured Mastercard and does not require a security deposit.

What credit limit does the Reflex Mastercard offer?

Approved applicants may receive an initial credit limit of $300, $500, $750 or $1,000.

Why is the available credit lower than the assigned credit limit?

The annual fee is charged to the account and reduces the amount initially available. A $300 limit with a $75 first-year annual fee, for example, would leave approximately $225 available before purchases or other charges.

Does checking for Reflex prequalification affect your credit score?

The current offer states that checking for prequalification does not affect your credit score and that there is no score impact if you are not approved. Prequalification does not guarantee approval.

Does the Reflex Mastercard report to all three credit bureaus?

Yes. Account information is reported monthly to Equifax, Experian and TransUnion.

How do you activate a Reflex card?

Use the activation website printed on the back of the card or call the activation number printed on the sticker attached to the card. Finance Globe cannot activate the account.

How do you make a Reflex Mastercard payment?

Cardholders can make payments through the official online account-management system or the CFC Mobile Access app. Payment instructions are also included with the account materials and monthly statements.

Does the Reflex Mastercard earn rewards?

No. The current offer does not earn cash back, points or travel rewards.

What credit score is needed for the Reflex Mastercard?

Reflex does not publish a guaranteed minimum credit score for approval. The card is marketed to consumers with less-than-perfect credit, but approval can depend on credit history, income, existing debt and other application information.

Finance Globe’s Bottom Line

The Reflex Platinum Mastercard offers an unsecured credit line, does not require a security deposit and reports account activity to all three major credit bureaus. Those features may be useful to someone working to establish a stronger payment history.

The tradeoff is cost. The annual fee reduces the credit initially available, the card has a high APR and a monthly maintenance fee begins after the first year. Applicants should review the exact fee schedule associated with their assigned credit limit and compare the total ongoing cost before accepting the account.

Rates and fees can change. Review the current Reflex rates and fees before applying.