"Is This Card Still A Bad Choice?"

Continental Finance Gold MasterCard® Review
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Written by: vingstar on 2008-08-15

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vingstar's review: Callout Comment I keep wanting to apply for this card but I just can't see myself doing it! I read all the reviews & it makes me think twice. I have 2 Centennial cards & you'd think that if I have those 2 cards then surely it shouldn't bother me to have another card with similar fees.

I think I just want to play it safe. I guess you could call this site the 1-800 -Safe- Auto site of credit cards... Lol.


Comment 1 by colonative
Bad Choice User Icon on 2008-08-15

Remarks I just looked at the website: $200 one time fee and $25 annual fee; so you get a $300 limit but it costs you $225! And credit limit increases are at $75 increases and each one costs you a fee of $25! This is insane!

I would, instead, take $300 and deposit it into either a Citi Secured MasterCard or a Bank of America Secured Visa. That way instead of paying all these fees for nothing you will have a big name bank credit card and your $300 will earn interest! So after a year to year-and-a-half you get your $300 + interest back and your card becomes unsecured. And with Citi you could then convert your card to a different one (ie Dividend, Drivers Edge etc).
Comment 2 by thomas1
CONTINENTAL FINANCE User Icon on 2008-08-15

Remarks I agree with ColoNative, skip this one if you can. As far as rebuilding and approval rates, I would go with Orchard first, and then Cap One. They don't charge all those upfront ridiculous fees and strangle you each month.

Orchard approves 99% of people with something, whether it is platinum or classic. Then, once your scores are around 600 or so, apply for Cap One. Cap One will absolutely grow you in time with nice credit line increases.

That is where I would definitely start to rebuild.

Good luck to you!
Comment 3 by ashes
Bad Choice User Icon on 2008-08-15

Remarks If you want a card so bad, it is probably better to talk to your bank and/or credit union to get a secure card. It is essentially a no interest account that you put money in and after 12 months or so, they would make is unsecure. That is how I was able to build my credit 9 years ago through my credit union when no one would touch me with a 10 foot pole.

If your credit union doesn't offer such deals, Orchad is the next best thing.
Comment 4 by davis06
Ditto! User Icon on 2008-08-16

Remarks I know the feeling but DON'T do it! There are other options out there.
Comment 5 by yoyo11
Heck No.. User Icon on 2008-08-16

Remarks Please I beg you... Don't do it!
Comment 6 by wildrage2
Identicle User Icon on 2008-08-16

Remarks This card is just about identical to the centenial card. so if you're cool with the centenial fees, get it.

this is probably the most sub-prime card you can possibly get. true bottom of the barrel.

$12/mo fee is rediculous.

I've had it for almost a year. Will cancel before next annual fee comes up.
Comment 7 by meya
Stop!!! User Icon on 2008-08-17

Remarks Don't do it, please take members advice and move on to other credit cards. Go to this link and read what we have suggested for members to start at. Your gut feeling is even trying to stop you from doing it:


Hope this helps!
Comment 8 by hjm331
RE: ColoNative User Icon on 2008-08-17

Remarks BOA unsecures your card with 6-9 months and you can convert your card to a better one and get your deposit back.

Citi requires 18 months but pays you interest, BOA doesn't.
Comment 9 by colonative
Re: HJM User Icon on 2008-08-17

Remarks Ah, good to know, either way both are a better choice then this card.
Comment 10 by mrrob
Absolutely NO User Icon on 2008-08-18

Remarks Avoid this card like the plague. Its a terrible card. Give Cap 1, HSBC or even Hooters a try
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