Credit Cards » Credit Card Reviews » Reflex® Platinum Mastercard® Review 2023: Solid Way To Build Credit
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Reflex® Platinum Mastercard® Review 2024: Solid Way To Build Credit

The Reflex® Platinum Mastercard® is an ideal choice for those who are looking to build up a good credit history and don’t want to pay an initial deposit for a secured card.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Reflex® Platinum Mastercard®
Reflex-Mastercard®-Credit-Card-Review

Rewards Plan

None

Sign up Bonus

None

Credit Rating

NoCredit / Bad Credit

0% Intro

None

Annual Fee

$75-$99 per year, plus $0-$120 per year (assessed as $0-$10 monthly) in maintenance fees after your first year

APR

29.99% APR (Variable)
Reflex® Platinum Mastercard®
Reflex-Mastercard®-Credit-Card-Review

Rewards Plan

None

Sign up Bonus

None

0% Intro

None

PROS

CONS

APR

29.99% APR (Variable)

Annual Fee

$75-$99 per year, plus $0-$120 per year (assessed as $0-$10 monthly) in maintenance fees after your first year

Balance Transfer Fee

N/A

Credit Requirements

NoCredit / Bad Credit

The Reflex® Platinum Mastercard® is a credit card designed for those with bad credit or no credit history at all. The card offers a low line of credit with a variable interest rate. However, the card charges very high fee so it's better to shop around for another card, if you have the option.

The card has a number of benefits including a credit protection program and waiving of the maintenance fees for the first 12 months. Also, Reflex regularly reports your card activity to the major credit bureaus.  However, since good credit is not necessary for the card, it does attract a higher interest rate.

Although there is no deposit required, you do need to be prepared to pay some regular fees. You'll pay $75-$99 per year, plus $0-$120 per year (assessed as $0-$10 monthly) in maintenance fees after your first year . 

  • Reports to All Three Credit Bureaus
  • Mobile App
  • Mobile App
  • Fast Processing
  • Widely Accepted
  • Annual + Maintenance Fee
  • Credit Limit is Capped
  • Higher APR
  • No Rewards

In this Review

Benefits

Let’s take a look at the benefits of the Reflex® Platinum Mastercard®  and see if it’s the right one for your wallet or not.

Reflex reports your card activity to all three of the major credit bureaus. This is crucial to build your credit. Each month when you make your payment on time, it will be noted on your credit files. This will show potential lenders that you are financially responsible and can make good decisions about your finances.

The 15 months on purchases and balance transfers 0% purchase APR is longer than most credit cards which works well if you plan to spend right away with it and pay it off slowly. 

You can access your Reflex® Platinum Mastercard® account using the dedicated mobile app. This allows you to check your balance, track your FICO score and make payments. 

The app is user friendly, but it is encrypted with security layers so your information is protected.

The initial credit limit for the Reflex® Platinum Mastercard® is typically $300 to $1,000. However, after 6 to 12 months, there is the possibility of getting a credit limit increase to as much as $2,000. 

It is possible to increase your credit limit when you demonstrate responsible use. In addition to a possible credit limit increase after six months, there is the potential to qualify for a card with more attractive features once you improve your credit. 

Unlike many cards, the application process for the Reflex® Platinum Mastercard® is quite simple. You can receive an answer to your application within seconds.

In the event that you don’t qualify for the card, you’ll be offered a secured card and provide a detailed explanation of why your application was denied.

Since the Reflex card is a Mastercard, it is widely accepted around the world. You can use your Reflex card overseas and if you qualify for a $300 credit limit, the foreign transaction fees are waived for the first year.

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Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

Drawbacks

The Reflex® Platinum Mastercard® has two different types of mandatory fees. 

You'll pay $75-$99 per year, plus $0-$120 per year (assessed as $0-$10 monthly) in maintenance fees after your first year . Additionally, the fee is charged to your account and will reduce your available credit limit.

Regardless of your initial credit limit, the maximum limit for this card is capped at $2,000. This means that if you’re aiming to keep your credit utilization rate at below 33%, there is only the potential to use $660.

Since the Reflex® Platinum Mastercard® is available to those with poor credit, the interest rate does reflect this higher risk. If you’re carrying a balance, you can expect to pay 29.99% APR (Variable)APR.

The Reflex® Platinum Mastercard® is a basic card and offers no rewards. 

Apart from building your credit, there are no other perks associated with this card. This can make it hard to justify the annual fees.

How To Apply For Reflex® Platinum Mastercard® ?

You can apply for your Reflex credit card by mail, phone or online. You can pre qualify for the card, which involves a soft credit search that won’t impact your credit score.

You will need to provide your name and address, email address, and social security number.

Reflex Masterard application process - 1

Reflex also requires you to provide your monthly income. The website provides a calculator tool to calculate your monthly income.

Reflex Masterard application process -2

Finally, you need to provide your date of birth and phone number. You will also need to confirm if you have an active checking account, if you need an additional card, and authorize pre qualification.

Reflex Masterard application process - 3

Once you click see my card offers, you will see whether you qualify for this card or if you’ll be offered a secured card.

Is the Reflex® Platinum Mastercard® Right for You?

The Reflex Mastercard is a suitable for those who have poor credit or not credit history and are struggling to get approval for the other credit cards.

The card is designed to help you to build your credit. Credit activity is reported to all three of the major credit bureaus and you can qualify for a credit limit increase if you make your payments on time during the first six to 12 months after account opening.

However, you will need to be prepared for a hefty annual fee and monthly maintenance fees. These can add up to over $200 per year, which will take a chunk out of your card spending potential.

So, if you’re looking to repair your credit, and prefer the thought of paying fees rather than putting a security deposit in place, the Reflex Mastercard® could be worth consideration.

Compare The Alternatives

If you're looking for a build your credit  –  there are some good alternatives to consider:

OpenSky® Secured Visa® Credit Card

First Progress Platinum Elite Mastercard® Secured Credit Card

Milestone® Mastercard®

OpenSky® Secured Visa® Credit Card
First Progress Platinum
Milestone® Mastercard®
Annual Fee
$35
$29
$175 the first year; $49 thereafter
Foreign Transaction Fee
3%
3%
1% of each transaction in U.S. dollars
Purchase APR
25.64% (variable)
25.24% Variable
35.90%

Review Secured Credit Cards

Picture of Andrew O'Malley

Andrew O'Malley

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
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Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%

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Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
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Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.