Reflex® Platinum Mastercard® review
Heavy fees make this a poor choice for building credit.
24.99% to 29.99%
Purchase APR (variable)
Recommended credit score
|Annual fee||$75 to $99|
|Annual fee conditions||$75 to $99 annual fee plus a monthly maintenance fee of $0 to $120 annually starting the second year|
|Purchase APR||24.99% to 29.99% variable|
|Balance transfer APR||N/A|
|Minimum credit score||580|
Steven Dashiell is a senior personal finance writer at Finder, specializing in all things banking and credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their banking rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured in U.S. News & World Report, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living, among other top publications.
The Reflex® Platinum Mastercard® comes with a host of fees, including a $75 to $99 annual fee, a monthly fee of $0 to $10 starting from the second year, and you’ll get a high APR between 24.99% to 29.99% variable with no grace period. And if you think to yourself “that sounds like a lot of fees for a card that helps you build credit,” you’d be right.
Ultimately, the high fees and the high APR make the Reflex® Platinum Mastercard® a poor choice for building credit. Consider applying for this card if you really want it, but you can find a better credit-building card elsewhere.
How do I apply for the Reflex® Platinum Mastercard®?
You can apply online for approval in minutes. But make sure to budget for setup, maintenance and annual fees. All this budgeting isn’t necessary with most other credit-building cards.
- Learn more about how to apply for Reflex® Platinum Mastercard®.
- Enter your personal details, then click Continue your application.
- Enter the confirmation code sent to your smartphone.
- Enter your Social Security number and financial information, then click Continue.
- Complete other required information, then review and submit your application.
What credit score do I need?
Apply with a fair credit score of 580 or higher. The card is designed for those looking to build or rebuild their credit regardless of creditworthiness, and so approval rates are high.
Reflex® Platinum Mastercard® drawbacks
- Low credit limit. The stated maximum credit limit for this card is up to $750. Which isn’t bad, but the card’s numerous fees cut directly into this limit, meaning you can expect a lower amount. Many secured cards base your credit limit on your security deposit, meaning you can set your own limit up to a stated maximum.
- Numerous high fees. The Reflex® Platinum Mastercard® features an astounding number of fees for a card designed to build credit:
- Annual fee. You’ll pay an annual fee of $75 to $99 to use the card. Note that you can find similar credit-building cards with no annual fee at all.
- Monthly maintenance fee. Starting the second year, you’ll pay a monthly service fee of $0 to $10, adding up to $0 to $120 annually. Reflex waives these fees for your first year, but it’s not a normal fee by any credit card standard.
- Additional card fee. You’ll pay an additional $30 if you want another card.
- Late and returned payment fees. You’ll pay up to $41 for each payment that isn’t on time or bounces. Many cards average from $27 to $35 for such fees.
- Cash advance fee. Advances attract a fee of either $5 or 5% of each cash advance, whichever is more.
- Foreign transaction fees. Overseas payments will run you 3% of each transaction.
- High APR. The card’s purchase APR is 24.99% to 29.99% variable. This is higher than you’ll find with many other secured and unsecured cards for building credit, which average a variable APR of 20%.
- No grace period. This card lacks an interest grace period on your purchases. The only way to avoid interest is to pay your entire account balance in full by the payment due date each month, which is nearly impossible to do with a monthly maintenance and other fees.
Compare unsecured cards for building credit
If this card isn’t right for you, compare other unsecured cards for building credit. Consider factors such as fees, APR and if the card offers additional perks you’ll use.
Given expensive fees, a high APR and a general lack of features, the Reflex® Platinum Mastercard® isn’t a helpful choice for building credit.
For a safer, more effective path to building credit, compare secured credit cards.