Eric Bank is an M.B.A. who has covered financial and business topics since 1985, appearing regularly on Credible, eHow, WiseBread, The Nest, Zacks, Chron, BadCredit.org and dozens of other outlets. Eric specializes in taking complex subject matters and explaining them in simple terms for consumer audiences, particularly in the world of personal finance. Eric holds a Master's in Business Administration from New York University and a Master's in Finance from DePaul University.
Jon leverages 15-plus years of journalism expertise to inform financial consumers about emerging trends and companies making an impact in the industry. He is most knowledgeable in the areas of budgeting, credit card rewards, and responsible credit use. Jon has a passion for writing and editing, and his articles have appeared in publications produced by The New York Times.
With more than 10 years of accounting experience, Danielle Marshall has a deep understanding of many financial disciplines, including personal and commercial lending, retirement annuities, financial forecasting, and general bookkeeping. She has a bachelor's degree from the University of Florida's Fisher School of Accounting and currently manages all accounts receivable and payable for the parent company of CardRates.com. She works directly with credit card issuers and advertising partners to ensure our content meets compliance expectations and regulatory standards.
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure and review policy.
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Our Rating
FIT™ Platinum Mastercard®
3.5/5.0
About this rating
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Consumers with abysmal credit generally don’t expect to qualify for a feature-rich credit card. In that sense, the FIT™ Platinum Mastercard® won’t disappoint: It is a no-frills credit card offering essential benefits only. But what it lacks in rewards and perks, it makes up for in easy approval.
The card belongs to a group of subprime cards that cater to consumers with bad or limited credit. In this credit card review, we’ll assess the card’s features and costs and compare it to three similar cards that compete in the same market segment.
The FIT™ Platinum Mastercard® is meant for people with less than ideal credit looking to rebuild. You get the buying power and liability protection of Mastercard, ensuring wide acceptance in the United States and worldwide.
The issuer of the card reports your payments to all three credit bureaus. Triple-reporting is the most efficient way to rebuild credit — as long as you make timely payments and keep your unpaid balance relatively small.
The card is expensive, with various nuisance charges atop a stout annual fee. But its APR of 35.90% Fixed, while no bargain, is lower than the 36% that several subprime cards charge. It also does not impose fees for cash advances or foreign transactions during the first 12 months your account is open.
How to Qualify & Apply
To be eligible for the FIT™ Platinum Mastercard®, you must:
Be 18 or older
Reside in the United States
Have a Social Security number
Earn enough income to pay the monthly minimum payments
Have an active checking account in your name
The card is not available for residents of Colorado, Washington, West Virginia, or Minnesota. If you meet the eligibility requirements, you can access the card’s application below:
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure and review policy.
Advertiser Disclosure
CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Less than perfect credit? We understand. The FIT Mastercard is ideal for people looking to rebuild their credit.
Unsecured credit card requires No Security Deposit
Perfect card for everyday purchases and unexpected expenses
Monthly reporting to the three major credit bureaus
Use your card everywhere Mastercard is accepted at millions of locations
Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
If approved, you must pay a $95 fee to open your account. Please see the terms and conditions for when you apply.
Intro (Purchases)N/A
Intro (Transfers)N/A
Regular APR35.90% Fixed
Annual FeeSee terms
Credit NeededFair/Poor/Bad
The bank accepts applicants with scores as low as 500, which is associated with very poor credit. It also accepts applicants with less than three years of credit history.
You can apply for the card online by providing your name, address, date of birth, email address, SSN, monthly income, and a few other basic details. You should receive an instant decision. If favorable, you must e-sign the cardmember agreement and pay a one-time program fee before final acceptance.
Benefits & Drawbacks to Consider
The FIT™ Platinum Mastercard® offers essential benefits at a high price, particularly for those looking to build or rebuild their credit. The card’s drawbacks center on its costs and lack of rewards.
Benefits
Credit reporting: You can build credit through the card’s monthly reporting to the three major credit bureaus (Experian, TransUnion, and Equifax).
Application process: The application process is fast and straightforward, and all credit types are welcome to apply.
Credit protection option: You can purchase a policy to cover monthly payments or cancel your balance under specific circumstances.
Drawbacks
High interest rate: It has a 35.90% Fixed APR, but you can avoid it by paying your entire balance every month.
High fees: The annual fee is high. The card also charges a one-time program fee, an additional card fee, and late fees. After the first year, it imposes charges for monthly maintenance, cash advances, and foreign currency transactions.
No rewards program: The card does not pay a signup bonus or offer rewards for purchases.
Cash advance limit: You must wait 95 days from account opening before you can take a cash advance.
We suggest you check out the alternative cards below before applying for the FIT™ Platinum Mastercard®.
Alternative Cards Worth a Look
The following cards offer lower costs or better perks, and all cater to consumers with fair or bad credit. One comes from Capital One, one of the largest US banks, which offers a full lineup of cards and bank accounts you can grow into as your needs — and credit history — evolve.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
No annual or hidden fees. See if you're approved in seconds
Be automatically considered for a higher credit line in as little as 6 months
Help build your credit through responsible use of a card like this
Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
Monitor your credit score with CreditWise from Capital One. It's free for everyone
Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app
Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
The Capital One Platinum Credit Card is the bank’s entry-level card for consumers with fair, average, or limited credit. You can use the card to monitor your credit without paying an annual fee.
Capital One reports your card activity to each of the three major credit bureaus, which means you can build credit with on-time payments. The bank regularly monitors your account and may increase your credit line if you qualify.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Continental Finance services the Surge® Platinum Mastercard®. You can quickly prequalify for this Mastercard, which will let you know whether final acceptance is feasible. This card has an annual fee of $75 - $125, depending on your creditworthiness. The card offers a higher credit limit than most subprime cards, and its APR is a bit lower.
Continental Finance is rated A+ by the BBB, and it has an Excellent reputation on Trustpilot. It will report your account to all three bureaus to help you improve your credit with regular on-time payments.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
The Milestone® Mastercard® is an unsecured credit card that reports your monthly payments to each major credit bureau and provides credit score monitoring.
The card’s beginning credit limit is $700, making it a viable choice if you have fair to good credit. The card charges a high APR and also includes an annual fee. You can use the card’s handy mobile app to manage your account.
Cardholder Reviews Around the Web
Jason Babcock gave the FIT™ Platinum Mastercard® a good review:
“What an exceptional credit product. Sure, I agree with everyone that the initial fees are next to outrageous. Still, since I’m working on rebuilding my credit, understandably, they’re taking a risk, and there’s a price for the risk. BUT where else can you get a card with a $400 limit and 6 months later have it turn into an $800 limit, which works wonders for your Utilization Ratio, bringing your score up.”
“Do NOT apply for this card. After you get the card, they then tell you that you will be charged $35 per month [after the first year] for the use of the card, plus the $99 annual fee. That’s absolutely ridiculous. I immediately canceled the card, but I can’t seem to get a confirmation from anyone in the company. I have spoken to two Fit Card reps.”
The FIT™ Platinum Mastercard® received negative reviews for its fees. However, the card’s customer service department earned considerable praise.
FAQs: What is the Card’s Credit Limit?
The card’s initial credit limit is $400. The cost in annual and monthly fees might be prohibitive. Consider using the card for a year to build your credit and then switching to a better credit card.
How Soon Will My Card Arrive?
The issuer states it will mail your credit card and welcome materials within three business days if it approves your application and you pay the processing fee.
We note that Trustpilot contains several comments from customers complaining about delays in receiving the card. However, the card’s customer service receives high marks.
Does the FIT™ Platinum Mastercard® Offer Preapproval?
The FIT™ Platinum Mastercard® no longer offers preapproval. Lack of preapproval means that the issuer will perform a hard credit pull when you apply for the card.
Typically, hard credit inquiries have little impact on your credit score. However, multiple card applications within a short period can harm your credit, so it’s best to wait six months before applying for your next card.
Does It Offer Cash Advances?
The FIT™ Platinum Mastercard® offers cash advances starting 95 days after you open the account. The card waives its cash advance transaction fee for the first 12 months of ownership.
The APR on cash advances is the same as that for purchases. Cash advances accrue interest daily from the transaction date until fully repaid.
This Card May Be For You If…
You have subprime credit: The card is a viable choice if you don’t have a good credit history or have yet to build much credit. The card helps in building credit because it reports monthly to the three major credit bureaus.
You prefer unsecured credit cards: This card is unsecured, meaning it doesn’t require a deposit as collateral. You can choose an unsecured card if you don’t want to or can’t provide a deposit for a secured credit card.
You plan to pay your monthly balances: The card has high fees and interest rates. It may suit you if you can manage these costs, especially by paying off your balance in full each month to avoid the high APR.
You can’t qualify for a better card: The issuer designed this card for people who might not be eligible for better credit cards due to their credit history.
It would be best if you compared this card’s costs and benefits with those of competing cards, including the three alternatives reviewed above. If you decide to apply, consider canceling the card after one year to avoid the monthly maintenance fee.
About the Author
Eric Bank is an M.B.A. who has covered financial and business topics since 1985. He has contributed regularly to Credible, eHow, WiseBread, The Nest, Zacks, Chron, BadCredit.org, and dozens of other outlets. Eric specializes in taking complex subject matters and explaining them in simple terms for consumer audiences. Eric holds a Master's in Business Administration from New York University and a Master's in Finance from DePaul University.
