2021 Reflex Mastercard® Review

Reflex Mastercard Review
GUIDE
Ashley Dull
By: Ashley Dull
Posted: October 18, 2021
Advertiser Disclosure

No Reflex Mastercard review is complete without an in-depth look at all of the things this credit card can — and in some cases can’t — do for you.

For starters, this card isn’t for you if you have good credit. Reflex specifically tailored this card for consumers who need a way to improve their low credit score without incurring a lot of debt.

This unsecured credit card issuer offers the opportunity to double your credit limit within six months and will report your payment and balance history to all three credit bureaus each month. But that’s not all that this card has to offer.

Reflex Mastercard Benefits

The Reflex credit card offers several benefits to help consumers who have poor credit and need help building credit. The biggest feature this card offers is that it reports your monthly balance and payment history to each of the three major credit bureaus.

These bureaus collect this information to compile your credit reports, which credit scoring models then use to calculate your credit scores. As you continue to make your payments on time and keep a low balance, this credit-building card can unlock better loan and credit card offers in the future.

  • Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
  • See if you’re Pre-Qualified with no impact to your credit score
  • All credit types welcome to apply
  • Free access to your Vantage 3.0 score from Experian* (When you sign up for e-statements)
  • Initial Credit Limit of $300 – $1,000* (subject to available credit)
  • Monthly reporting to the three major credit bureaus
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
  • Checking Account Required
  • Click here for official site, terms, and details.
★★★★★

4.6

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
8 minutes 24.99% – 29.99% (Variable) Yes 8.0/10

This card also offers the opportunity to earn a credit line increase that can double your starting credit limit after you make your first six monthly payments on time. A larger credit limit not only improves your buying power but can decrease your credit utilization ratio and improve your credit score rather quickly. 

The Reflex Mastercard credit card also gives cardholders who sign up for e-statements free access to their Vantage 3.0 score from Experian, which helps track their progress from poor credit to fair credit and beyond.

Reflex also offers an easy application that allows you to prequalify before officially applying. The card issuer maintains an A+ rating with the Better Business Bureau and offers fraud liability protection that removes your liability for unauthorized transactions.

This unsecured card also doesn’t require a large security deposit for approval as a secured credit card would. This lowers your upfront cost and makes this card initially more affordable than a secured card.

Reflex Mastercard Credit Limit and Fees

The Reflex Mastercard calculates your initial credit limit based on your credit score and credit history. Most new cardholders receive a credit line of between $300 and $1,000 when they activate their credit card account. 

But your amount of available credit will be less than your total credit line before you use your card for the first time. That’s because the card issuer will immediately deduct your first annual fee from your account upon activation.

Similar to your credit line, your initial annual fee will vary based on your credit score. Beginning in your second year with the card, you’ll incur an annual fee that’s charged to your credit account on your card anniversary unless you cancel your card account.

In addition to the annual fee, the Reflex Mastercard charges a variable interest rate based on your creditworthiness. Although rates tend to settle between 24.99% and 29.99%, your card’s interest will vary with the market and is based on the current prime rate.

Other fees you may encounter include:

  • Monthly maintenance fee: This fee is waived for your first year with the card but kicks in starting in year two. In addition to your annual fee, Reflex may charge you a monthly account fee. This fee can get quite pricey when you add it to the annual fee.
  • A cash advance APR: This fee is typically greater than your new purchase interest rate and only applies to money you withdraw from your credit account via a cash advance. There’s no grace period with a cash advance, and you’ll begin incurring interest charges as soon as you receive your money.
  • Cash advance fee: In addition to the cash advance APR, this card charges either $5 or 5% of your cash advance amount — whichever is greater — as a fee for this service.
  • Late payment fees: These fees are charged to your credit account when you miss a payment or submit a payment after its due date. The maximum late payment fee you can be charged is $40.00.
  • Returned payment fee: If your bank denies your payment for insufficient funds or any other reason, Reflex may charge you as much as $40.00.
  • Foreign transaction fee: If you conduct a transaction in a currency other than U.S. dollars, Reflex will charge between 0% and 3% of the entire transaction amount to convert the currency and complete the payment.
  • Additional card fee: If you need another card for any reason, Reflex may charge you to issue you a new card.
  • Credit limit increase fee: Reflex may charge a fee to increase your credit limit.

Many of the fees listed above are standard credit card charges, though some are higher than average because of your poor credit score. The monthly maintenance fee combined with the annual fee makes this card more expensive than the average unsecured credit card for bad credit.

This card is not recommended for balance transfer transactions due to the high interest rate and low initial credit limit. 

Reflex Mastercard Accepts Bad Credit

As an unsecured credit card, you’ll need to undergo a review of your credit history to qualify for the Reflex Mastercard credit card. If you’re concerned about your eligibility due to a poor credit score, you can attempt to prequalify for a card account.

Doing so won’t harm your credit score and will give you a better idea of your eligibility before you submit an official application.

You can prequalify through the bank’s official website. The short form takes only minutes to complete and will return a credit decision in seconds.

Reflex designed this card for consumers who have bad credit or fair credit. This means the bank will consider your application even if you have a FICO credit score below 669.

The Reflex Mastercard is designed for fair credit or worse.

If you prequalify, you can complete the official application in less than five minutes. Similar to the first form, you’ll receive a near-instant credit decision once you submit your application. 

If approved, Reflex will print your new card and send it to you in the mail within seven to 10 business days. If the bank rejects your application, it will send you an adverse action notice within seven to 10 business days that details its reasons for the denial.

Approved applicants will also receive immediate notice of their new account’s credit line and initial annual fee. Remember that Reflex will charge that fee to your credit account as soon as you activate your card. 

Alternatives to the Reflex Mastercard

Reflex isn’t the only starter credit card company in the marketplace, and you may qualify for a different card for building credit that doesn’t charge a monthly fee or charges a smaller annual fee. 

Before accepting any credit card offer, consider other cards on the market and what they can offer you. Whether you’re looking for an unsecured credit card or a secured credit card that requires a security deposit, here are some alternatives you should consider.

  • Don’t let a low FICO score stop you from applying – we approve applications others may not.
  • You don’t need good credit to apply – here’s your chance to improve your score.
  • Just complete the short application and find out in 60 seconds if you’re approved.
  • When you need assistance our award-winning US-based customer service agents are there to help.
  • FICO scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any PREMIER Bankcard® product.
  • Click here for official site, terms, and details.
★★★★★

4.8

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
4 minutes See Issuer Website Yes 9.0/10
  • You don’t need good credit to apply – here’s your chance to improve your score.
  • We help people with bad credit, every day.
  • Just complete the short application and find out in 60 seconds if you’re approved.
  • You can build or rebuild your credit: apply for a PREMIER Bankcard credit card, keep your balance low, and pay all your monthly bills on time. We’ll help you get back on track.‡
  • Don’t let a low FICO score stop you from applying – we approve applications others may not.
  • ‡Build credit by keeping your balance low and paying all your bills on time every month.
  • Click here for official site, terms, and details.
★★★★★

4.8

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
4 minutes See Issuer Website Yes 9.0/10
  • See if you’re Pre-Qualified with no impact to your credit score
  • All credit types welcome to apply
  • Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
  • Free access to your Vantage 3.0 score from Experian* (When you sign up for e-statements)
  • Monthly reporting to the three major credit bureaus
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
  • Mastercard Zero Fraud Liability Protection (subject to Mastercard guidelines)
  • Checking Account Required
  • Click here for official site, terms, and details.
★★★★★

4.7

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes 24.99% – 29.99% (Variable) Yes 8.5/10

Remember that maintaining a checking account or savings account at certain banks may increase your likelihood of approval for a bank-issued card. Whether you bank with Capital One, Bank of America, Citi, or another institution, you will often find cards that can meet your needs through your bank of choice.

Is the Reflex Mastercard a Good Credit Card?

The Reflex Mastercard is a solid credit-building card if your options are limited with other unsecured card issuers. 

This card charges similar fees as other cards for consumers with low credit scores in terms of annual, late payment, foreign transaction, and balance transfer fees. But the card’s monthly maintenance fee — in addition to its annual fee — makes it more expensive than many other cards in the space.

But if you have less-than-perfect credit and need a card that reports your payment and balance history to all three credit bureaus, you can do worse than the Reflex Mastercard.

Can the Reflex Mastercard Help Improve My Credit Score?

With responsible behavior, the Reflex Mastercard can help you improve your credit score by adding positive information to your credit history.

Reflex will report your payment history and card account balance to all three major credit bureaus each month. Each bureau collects this information and uses it to build your credit profile. Positive information, including a low balance and on-time payments, will help improve your credit score over time.

Maintaining on-time payments and a low balance on the card will help you improve your credit score over time.

Negative information, including a high account balance or late payments, will add negative data to your credit report and lower your credit score. This information can damage your credit score for quite some time as it will remain on your credit history for seven years. But as negative items age, their effect on your credit score lessens.

Does the Reflex Mastercard Give Credit Limit Increases?

The Reflex Mastercard offers the potential for a reasonably fast credit limit increase. Once you make your first six payments on time, the bank will consider you for a credit line increase that can double your credit limit.

Obtaining that type of increase in such a short amount of time isn’t common in the bad credit space. Just keep in mind that you aren’t guaranteed to receive an increased spending limit. The bank simply states that cardholders are permitted to apply for a credit limit increase after six months.

Technically, just about every credit card issuer will consider a credit limit increase request every six months. 

You can request a credit limit increase any time after your first six months with the card by calling the issuer’s customer service phone number at 866-449-4514.

What Credit Score Is Needed For the Reflex Mastercard? 

The Reflex Mastercard doesn’t advertise a minimum credit score requirement for approval. With that said, the issuer does promote the card as an offering for consumers who have fair credit or bad credit.

Your credit score isn’t the only determining factor for card eligibility. Reflex will also consider your current monthly debt obligations, current income, and the amount of credit presently extended to you from other lenders.

This means that you may qualify for the card if you have a very poor credit score but a reliable income.

Your best bet for determining eligibility is to attempt to prequalify for the card. You can do this on the issuer’s website by clicking on the green Apply Here button below. This form will conduct a soft credit pull that will not harm your credit score or leave a hard inquiry on your credit report.

  • Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
  • See if you’re Pre-Qualified with no impact to your credit score
  • All credit types welcome to apply
  • Free access to your Vantage 3.0 score from Experian* (When you sign up for e-statements)
  • Initial Credit Limit of $300 – $1,000* (subject to available credit)
  • Monthly reporting to the three major credit bureaus
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
  • Checking Account Required
  • Click here for official site, terms, and details.
★★★★★

4.6

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
8 minutes 24.99% – 29.99% (Variable) Yes 8.0/10

Prequalifying is not a guarantee that you’ll receive the card when you officially apply, but it’s often seen as a very good indicator of success.

Reflex Mastercard Review: A Tool to Help You Rebuild Credit

Building credit takes time, dedication, and discipline. When you embark on your mission, you must choose a credit card designed to help you improve your credit score without tacking on egregious charges along the way.

Although the Reflex Mastercard isn’t the cheapest card on the market, it provides you with access to your monthly credit score updates and other tools you need to work your way up the credit ladder.

If you’ve read this Reflex Mastercard review and still aren’t sure if it’s the card for you, consider looking at other alternatives that offer similar benefits, perhaps at a lower overall cost. That may include a secured card that requires a security deposit for approval but allows you to choose your starting credit limit and has a lower interest rate and no annual fee.

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