Continental Finance MasterCard® Review
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Written by: elansing1979 on 2008-12-01

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elansing1979's review: Callout Comment Just wanted to let you guys knowthat I've had this card for 1 1/2 years. While it has helped me rebuild my credit, the fees are just unbearable. When I first got the card, the monthly maintenance fee was $9.00, then they raised it to $12.00, and now I just got a notice that they are raising my rates again to $15.00!!! I WILL HAVE TO PAY $15.00 PER MONTH JUST TO HAVE THEIR CARD... I don't know howthey get away with it. I am going to decline the fee and the card will be canceled (with my ability to pay the card off normally)


Comment 1 by yoyo11
WOW User Icon on 2008-12-01

Remarks I'm glad... Thats $180 a year... With this bank you will be lucky if you have a CL of $180.
Comment 2 by iantha1
I Agree User Icon on 2008-12-01

Remarks Some banks think they can get away with any thing. I hope many more will take a stand like you did.
Comment 3 by colonative
See User Icon on 2008-12-01

Remarks This is why we need to educate people to avoid these banks at all costs. Go for a secured card, if you have to pay $180 per year $250 right away you might as well put that towards a secured card and get the money back later.

I'd love to see companies like this go away.
Comment 4 by davis06
Outrageous! User Icon on 2008-12-01

Remarks I think they have served their purpose and hopefully you have or will be able to find a card with more reasonable terms. That is too much money to literally give away.

I wish you the best of luck and be blessed.
Comment 5 by meya
So Wrong. User Icon on 2008-12-01

Remarks They are charging fees higher than tier one cards, I know that some Amex cards are high, but at least you get benefits from it. Them wanting you to pay those ridiculous fees, is showing you that they are gone over their heads. I don't card how bad you messed up your credit, having someone to pay $200 per year for account maintenance is a straight rip off. You are the one who is maintaining the account, not them. They make it seem like they are bathing, dressing, and feeding the account on a daily basis for you.

Come to this thread and let us know what types of card you have, any baddies, lates, account history, and how many inq + new accounts you have within one year so we can hook you up. Shut them down right away, you deserve better



Comment 6 by brian23
Really.... User Icon on 2008-12-01

Remarks Instead of paying the crazy fees, you can get a much better card than this one. You should definitely let it go...

PS, when I called about 4 months ago to cancel my card the representative actually asked why. I replied, "the fees are way to expensive for the low credit limit that this card offers and its just time for me to part ways with this card." It took about another 15 min from that point, but I finally got her to close out my account.
Comment 7 by arod
Thats Crazy!! User Icon on 2008-12-01

Remarks Wow. Well run to a secured card from BOA or Citibank or try www.Capitalone.com or www.Orchardbank.com

but don't let them eat you alive with those fee.

Good luck on your decision.

Take care,

Comment 8 by tia530
Fleecing Of The Credit Poor User Icon on 2008-12-02

Remarks That is rediculous to take advantage of those who are attempting to rebuild their credit. When I researched the credit building cards/options I immediately recognized those cards were not the way to go for me.

Some may not have the deposit to open a secured card but I would save up until I could go that route.

It will take longer but it'll be worth the wait.

I canceled a National City secured card with a 3.00 monthly fee because I now have a regular card with them.

Definitely cut the cord!
Comment 9 by wayne6372
Re: FEES RAISED 3 TIMES!!! User Icon on 2009-11-24

Remarks Fees raised 4 times now. They fees are rediculous with this company. There is now a $ 18.00 a month maintenance fee. Unfortunately for me this is my oldest credit account and if I close it, it will hurt my score. So now u have $206 a year in maintenace fees, a $ 50.00 dollar annual fee plus the $25.00 for ur cl increase twice a year. We now have a total $306.00 a year in fees.
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