Overall, the FIT^® Platinum Mastercard^® is an acceptable option if you have bad credit or limited credit, since it offers a $400 initial credit limit without a security deposit and reports to the three major credit bureaus. However, due to the card’s numerous fees and extremely high interest rates, a secured credit card instead may be a less expensive option.

The FIT^® Platinum Mastercard^®, which is open to applicants with good, bad or limited credit, is designed to help cardholders establish credit or improve their credit score and can be used anywhere Mastercard is accepted. In addition to reporting to the three major credit bureaus—TransUnion, Experian and Equifax, the card provides the opportunity to increase your credit limit after six months when you demonstrate responsible card usage, including paying your bill on time each month and keeping your card balance under your credit limit.

Although the FIT^® Platinum Mastercard^® doesn’t come with a rewards program, it does offer benefits, such as $0 fraud liability, access to a free monthly credit score when you enroll in e-statements, online account management and credit protection. Also, when trying to build credit, credit card rewards should be a low priority anyway, as paying your balance in full and on time each month is what is most important.