The maximum credit limit for the Fit card, specifically the FIT Platinum Mastercard, is $400. This limit is characteristic of cards designed to help individuals build or rebuild their credit history.
Understanding the FIT Platinum Mastercard Credit Limit
The credit limit of a card defines the maximum amount of money you are permitted to charge to it. For the FIT Platinum Mastercard, this amount is set at $400. This limit is common for credit cards aimed at consumers who are establishing or improving their credit profiles.
A lower credit limit, while offering less immediate purchasing power, can encourage disciplined spending and help prevent the accumulation of significant debt. Consistent and responsible use, such as making timely payments and maintaining low credit utilization, can positively influence your credit score over time. This responsible behavior may also lead to opportunities for higher credit limits on future accounts or even an increase on the FIT Platinum Mastercard after a demonstrated period of good financial management.
Key Financial Features of the FIT Platinum Mastercard
Beyond its credit limit, it's important to be aware of other financial aspects of the FIT Platinum Mastercard that can impact your use of the card.
| Feature | Detail |
|---|---|
| Maximum Credit Limit | $400 |
| Annual Fee | $99 first year; $125 thereafter |
| Intro APR | N/A* |
| Ongoing APR | 35.90% Fixed |
| Ongoing Balance Transfer APR | N/A* |
Note: N/A indicates that an introductory Annual Percentage Rate (APR) or a balance transfer APR is not applicable for this card.
Practical Insights for Managing a Credit-Builder Card
For cards with a lower limit like the FIT Platinum Mastercard, strategic management is vital for effective credit building:
- Maintain Low Credit Utilization: It's advisable to use a small portion of your available credit, ideally keeping your balance below 30% of your limit. For a $400 limit, this means aiming to keep your balance under $120. This demonstrates responsible credit usage to lenders.
- Prioritize On-Time Payments: Always ensure your payments are made on or before the due date. Late payments can significantly harm your credit score.
- Pay Your Balance in Full: Whenever possible, pay your entire statement balance each month. This helps you avoid high interest charges, especially with an ongoing APR of 35.90% Fixed, and strengthens your payment history.
Adhering to these practices can lay a strong foundation for improving your financial standing and achieving your credit goals.
