How Does LendingTree Get Paid?
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

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Reflex® Platinum Mastercard® Review

Reflex<sup>®</sup> Platinum Mastercard<sup>®</sup>

Reflex® Platinum Mastercard® Review

Easy Application
Fast and easy application process; results in seconds.
Build Credit
Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements). Monthly reporting to the three major credit bureaus.
Pre-Qualification
See if you’re Pre-Qualified with no impact to your credit score.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Reflex® Platinum Mastercard® best for?

The Reflex® Platinum Mastercard® is geared toward consumers with fair/poor/limited credit who would like to try to avoid submitting a deposit for a secured card.

However, in exchange for no security deposit, be prepared to pay multiple fees, including a high annual fee, a monthly maintenance fee and a fee for any authorized user cards. In addition, the issuing bank may decide not to approve you for the unsecured version of the Reflex® Platinum Mastercard® and ask you to submit a security deposit for a secured version of the card instead.

Reflex® Platinum Mastercard® overview

    • See if you’re Pre-Qualified with no impact to your credit score
    • Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
    • 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
    300 600 660
    Fair/Poor/Limited
  • Mobile app
  • Opt-in credit protection plan

Intro Purchase APR

N/A

Regular Purchase APR

24.99% - 29.99% (Variable)

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

See Terms

Cash Advance Fee

N/A

Foreign Transaction Fee

N/A

Balance Transfer Fee

N/A

Pros and cons of the Reflex® Platinum Mastercard®

Pros

  • Initial credit limit potential of up to $1,000
  • Possible credit limit increase after 6 months
  • Reports account activity to all 3 credit bureaus
  • Free monthly credit VantageScore
  • Security deposit may be waived
  • Qualify with fair/poor/limited credit

Cons

  • High APR
  • Annual and monthly fees
  • No rewards program
  • May only be approved for a secured version of the card
  • No rewards program or benefits
  • Foreign transaction fee
  • Requires that you have a checking account

What we like about the Reflex® Platinum Mastercard®

  • Security deposit may not be required

    While you’re not guaranteed to be approved for the unsecured version of the Reflex® Platinum Mastercard®, there is the possibility you won’t have to submit a security deposit once the issuing bank reviews your application.

  • Reports activity to all 3 credit bureaus

    The Reflex® Platinum Mastercard® is marketed to those seeking a tool to build or rebuild their credit profiles. As such, your Reflex® Platinum Mastercard® and payment history will be reported to all three credit bureaus.

  • Potential for credit limit increase

    Your initial credit limit on the Reflex® Platinum Mastercard® could be low, so after 6 months of using the card responsibly, you may initiate a request to have your credit limit increased. Know that this is not an automated process and that the cardholder will have to make the request.

What to watch out for with the Reflex® Platinum Mastercard®

  • May be required to submit security deposit

    If you’re looking specifically at the Reflex® Platinum Mastercard® because you want to avoid having to submit a security deposit, you won’t know if you’re approved for the unsecured version of the card until after you apply. Depending on your account review, you may actually end up being approved for a secured card for which you’ll need to provide at least a $200 security deposit.

  • High APR

    The APR for the Reflex® Platinum Mastercard® is really high, at 24.99% - 29.99% (variable). While not unusual for a card marketed to those with fair/poor/limited credit, it’s wise to avoid carrying a balance to avoid these high interest charges.

  • Numerous fees

    The fees associated with the Reflex® Platinum Mastercard® include an annual fee, a monthly maintenance fee, a fee for additional cards, and a foreign transaction fee.

  • No rewards

    While most cards marketed to consumers looking to build or rebuild their credit don’t offer a rewards program, some do (such as the Discover it® Secured Credit Card or the Petal® 2 Cash Back, No Fees Visa® Credit Card). Not having a rewards program shouldn’t be a deal-breaker when deciding on a credit-building card, but if you can qualify for one that offers rewards, then that cashback can help put some money back into your pocket.

Alternate credit-building card

Compare it to the Petal® 2 Cash Back, No Fees Visa® Credit Card

| Disclosures
Petal® 2 Cash Back, No Fees Visa® Credit Card
Petal® 2 Cash Back, No Fees Visa® Credit Card
on Petal's secure site
N/A
Variable APR between 16.74% - 30.74%
$0
Earn 1% cash back on eligible purchases right away, and 2% to
  • No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
  • Variable APRs range from 16.74% - 30.74%
  • Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
  • 1% cash back on eligible purchases right away
  • 2% - 10% cash back at select merchants
  • $300 - $10,000 credit limits
  • No credit score? No problem. If eligible, we'll create your Cash Score instead.
  • See if you're pre-approved within minutes without impacting your credit score.
  • Build credit alongside hundreds of thousands of Petal card members.
  • Petal reports to all 3 major credit bureaus.
  • No deposits required
  • Card issued by WebBank, Member FDIC
N/A

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

A much more attractive alternative to the Reflex® Platinum Mastercard® is the Petal 2 Credit Card. Also designed as a credit-building card, the Petal® 2 Cash Back, No Fees Visa® Credit Card not only offers a rewards program (earn 1% cash back on eligible purchases right away, and 2% to 10% cash back at select merchants), but it also doesn’t assess any fees outside of its Variable APR between 16.74% - 30.74%%.

The Petal 2 Credit Card reports account activity to all three credit bureaus and offers an initial minimum credit limit of $500. Applicants can also check to see if they are pre-approved for the card before actually applying. That way you can protect against a hard inquiry appearing on your credit report if you are not considered a good candidate for the card.

The Petal 2 Credit Card is an unsecured card, meaning there is no security deposit required, and is designed for applicants with n/a credit.

Compare the Reflex® Platinum Mastercard® to similar cards

Comparison of four different credit cards
Reflex<sup>®</sup> Platinum Mastercard<sup>®</sup> Petal<sup>®</sup> 2 Cash Back, No Fees Visa<sup>®</sup> Credit Card Discover it<sup>®</sup> Secured Credit Card OpenSky<sup>®</sup> Secured Visa<sup>®</sup> Credit Card
Reflex® Platinum Mastercard® Petal® 2 Cash Back, No Fees Visa® Credit Card Discover it® Secured Credit Card OpenSky® Secured Visa® Credit Card
Apply Now
on Celtic Bank's secure site
Apply Now
on Petal's secure site
Apply Now
on Discover's secure site
Apply Now
on OpenSky's secure site
Annual Fee
See Terms $0 $0 $35
Regular APR
24.99% - 29.99% (Variable) Variable APR between 16.74% - 30.74% 26.74% Variable APR 21.14% (variable)
Rewards Rate
N/A Earn 1% cash back on eligible purchases right away, and 2% to 10% cash back at select merchants 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically None
Recommended Credit
Fair/Poor/Limited N/A Poor/Limited Poor/Limited
Card Details
Reflex® Platinum Mastercard® Petal® 2 Cash Back, No Fees Visa® Credit Card Discover it® Secured Credit Card OpenSky® Secured Visa® Credit Card

Is the Reflex® Platinum Mastercard® right for you?

Since the Reflex® Platinum Mastercard® is laden with so many fees and does not guarantee that you’ll be approved for the unsecured version of the card, we encourage you to shop around for a card that may less expensive to carry. Applying for an unsecured card that assesses expensive annual and monthly maintenance fees can far outweigh the initial cost of applying for a secured card that requires a minimum security deposit of, say, $200.

Since so many issuers now allow you to use a prequalification tool to see if you’re approval chances are good, we recommend you check those out before resorting to applying for the Reflex® Platinum Mastercard®.

Just because you may have fair/poor/limited credit doesn’t mean you have to settle on a card that charges so many fees.

Apply Now
on Celtic Bank's secure site