The FIT Platinum is a credit card designed especially for individuals with limited or bad credit history, allowing them to rebuild their credit score simply and efficiently.
Issued by The Bank of Missouri, this card offers a variety of benefits that can be appealing to those looking to improve their financial situation, from wide acceptance to quick limit increases.
Below, we explore in detail the benefits, fees, credit limit, positive and negative points, as well as the card application process. Keep reading to see why this payment method could be perfect for you.
About the Issuer
The Fit Platinum card is issued by the Bank of Missouri, a respected and reliable institution in the USA. With years of experience in the financial sector, the Bank of Missouri is known for offering products that help customers improve and manage their finances.
The Bank of Missouri stands out for its dedication to providing exceptional customer support, ensuring everyone has access to quality financial services. They are also known for their simple and fast application processes, making it easy to obtain credit.
Additionally, the Bank of Missouri reports its monthly activities to the three major credit bureaus (Experian, Equifax, and TransUnion), which can significantly help improve your credit score when you use the card responsibly.
Benefits
Initial Credit Limit of $400: With an initial limit of $400, the Fit Platinum card provides a solid foundation to start building or rebuilding your credit. Best of all, this limit can double to $800 after six months of on-time payments.
No Security Deposit: Unlike many cards aimed at people with poor credit, the Fit Platinum does not require a security deposit. This means you can obtain credit without having to put down a considerable amount of money upfront.
Mastercard® Zero Liability Fraud Protection: With Mastercard’s Zero Liability protection, you won’t be held responsible for unauthorized purchases made with your card, providing an extra layer of security and peace of mind.
Free Monthly Credit Score: Keep an eye on your financial health with free access to your Vantage 3.0 credit score from Experian. This helps you monitor your progress and identify areas that need improvement.
Quick and Easy Application Process: The application process for the Fit Platinum card is simple and fast, with results in seconds. This makes it easy to obtain credit, especially for those in urgent need.
Monthly Reporting to the Three Major Credit Bureaus: Monthly reporting to Experian, Equifax, and TransUnion helps build or improve your credit score based on your responsible card usage.
24/7 Account Access: Manage your account anytime, anywhere, with 24/7 online access. This makes it easy to keep track of your spending and payments, ensuring you’re always in control.
AutoPay for Automatic Payments: Set up AutoPay to ensure your payments are made on time, helping you avoid late fees and improve your credit score.
FIT Platinum – Fees and commissions
The FIT Platinum has several fees to consider. There is a one-time processing fee of $95, an annual fee of $99, and a monthly maintenance fee of $75 (charged from the second year).
Additionally, the card has an APR of 29.99%, which is relatively high. Other fees include up to $41 for late or returned payments and an additional $30 fee if you request an extra card.
Card limit
The initial credit limit of the FIT Platinum Mastercard is $400. However, after six months of minimum on-time payments, this limit can be increased to $800. This feature is particularly useful for those looking to gradually increase their credit limit while demonstrating financial responsibility.
After a few months of responsible card use, you may even be able to apply for other types of credit cards available on the market, as you will have established a stronger financial profile.
Positive points
- LOW CREDIT REQUIREMENTSEven individuals with low credit scores can be approved.
- NO SECURITY DEPOSITNo initial security deposit is required.
- FRAUD PROTECTIONMastercard’s Zero Liability protects against fraudulent transactions.
Negative points
- HIGH FEESThe various fees associated can be a significant burden.
- HIGH APRThe interest rate of 29.99% is quite high.
- NO REWARDS PROGRAMSThe card does not offer rewards or bonuses.
How to apply for FIT Platinum
- Go to the official FIT Platinum website;
- Click on “Apply now”;
- Fill out the online application form with the required information;
- Wait for the approval response, which is usually instant;
- If approved, receive your card and start using it to build credit.
How to contact Bank of Missouri
For any questions or support, you can easily contact The Bank of Missouri through the phone number below:
- Phone: 1-866-449-4514
The FIT Platinum can be an excellent tool for those looking to rebuild or establish a credit history. If you are ready to start your journey to better credit, apply today and begin building a stronger financial future.
