Continental Finance Company Reviews
About Continental Finance Company
Continental Finance is a company that extends credit to people with poor credit, lack of credit or no credit at all. With their option of two credit cards and various informational resources on their website, those who want to repair or create credit have a route to do so.
The lending process behind Continental Finance’s credit card program enables them to make money while also giving consumers the ability to establish and increase their credit rating. They evaluate all applicants’ and consider what they can realistically afford thus making their customers successful in achieving their goals.
Continental finance reports to each of the three credit bureaus on a monthly basis. If the credit card holders make regular and timely payments this will benefit them as it will impact their credit score and afford them the ability to earn higher credit ratings and increase their credit limit.
The free application process is simple and can be completed online or through one of their mail offers. There are two credit cards they offer in which to choose from, The Cerulean Credit Card and the Matrix Credit Card. Once Continental Finance receives the application, the consumer will be approved or denied within 10 days; however they have also approved and denied applications within minutes.
Most of the accepted credit applications start out with a credit limit of $300.00. To use the card, there is a $75.00 flat fee the first year; after the first year it changes to a $12.00/month fee. Each time they extend an additional $100.00 of credit to you, a $30.00 fee is applied to your credit card for that month. To use the card, a $300.00 security deposit must be paid to cover any unpaid balance should you decide to close the account or what not.
If you choose to receive paper billing, a fee is a charged to your account; you may also opt out of paper billing and receive email and text notifications instead. The text and email alerts can be used to receive notifications for when your payment is due, when your payment has posted, and if you are over your credit limit.
The majority of negative customer reviews for Continental Finance primarily centered around the fees attached to the credit card. There are many credit card and credit repair options available, compare all your choices carefully because the goal is to only apply for one card. Each time a credit report is requested by a lender it is considered to be a negative hard hit on credit.