Continental Finance is the manufacturer of Cerulean Credit card, a type of MasterCard that is beneficial especially to those people that do not have good credits. People having bad credit often find themselves in a situation where it is difficult for them to obtain a credit card. Even if they can find a company that will offer them a credit card despite their low creditworthiness, the company usually charges them with higher interest rates.
Cerulean Credit Card is a MasterCard which means it is acceptable in any place where credit cards are widely accepted. The card also provides the consumers with a monopoly to use it anywhere in the world. They do not need to concern themselves whether the credit card will be accepted or not. The Cerulean card is accepted both across the nation and worldwide.It offers people a viable solution that will solve their credit problems. For individuals struggling to keep a good credit score, the company offers such people a ‘starter card’ that is a type of credit card. Having a starter card would bring some relief to such individuals. And Continental Finance understands such need of people.
The Cerulean card helps people in building their credit score so that they can apply for a better credit card. This starter card is mainly used for emergency situations. This includes paying for medical that may arise as a result of an emergency. The Cerulean Master card service includes providing unsecured credit lines to people who would avail of this card from the company. To improve the credit score of its clients, the company will also provide month-wise reporting to major credit institutions. Hence, if the consumers are using this credit card and paying for its services each month, this would reflect positively on their credit score.
As a result, the article will review the services offered by the company, such as the advantages and disadvantages of owning a Cerulean Master Card. This article will further consider the opinions of people who have used this credit card before. Such reviews will provide candid responses and the experience of people utilizing the Cerulean Card.
What are the Advantages of Having Cerulean Credit Card?
There are several advantages of having Cerulean Credit Card. Some of the advantages are:
- Bad Credit Improvement
The credit card is meant for individuals with all types of credit – good and bad. But the company especially targets those who are having a hard time finding a credit card that helps them with their credit problem. After the individual has been given the approval to qualify for the credit card, they can utilize it. The company would provide credit reports to major credit institutions. As long as the consumer can pay the minimum payment back to the company within the due date, their credit score will improve to apply for a better card in the future.
- Security deposit- Not needed
The Mastercard offers several perks to the people, one of which is that they don’t need to deposit a fund as security to avail the credit card. When they apply for this credit card, the individuals are considered first for an unsecured card. If they are given approval by the company for the credit card, they can get the Cerulean card without any security deposit. However, when people fail to qualify for the card, they can apply for the secured version of the card. Hence, they would need to deposit a security equivalent to the credit card limit. These consumers will be refunded back their security provided that they wish to cancel the services of the credit card and their account balance is positive; that is, they don’t owe any money to the company.
- Zero Fraud Liability
The Cerulean MasterCard provides its consumers with zero fraud liability coverage. This is one of this credit card’s major perks, and individuals are tempted towards such a feature. This feature means that the consumers will be only liable to pay for the purchases that they have carried out. When consumers lose their credit card or get stolen, they will not be held accountable for any transactions that might have happened during that period in which they did not have their credit card. The company has a fraud protection plan to protect its consumers. The scheme is activated, and consumers receive a phone call from the company to ask for approval for an unusual purchase.
- Higher credit limit potential
By increasing the credit score, individuals can apply for a credit limit increase. Several consumers apply for an increase in credit limit after having the company’s Mastercard for just half a year. If the consumers are given approval by the company for the increase in their credit limit, it can approximately increase their limit to almost 2,000 USD on a month-wise basis. Having a higher credit limit has its benefits as it allows the consumers to use the Cerulean Card for various reasons depending on their preference and need.
Other Advantages of this Card
- Free online account access 24/7.
It is quite easier for individuals to manage the company’s Mastercard online. The process to sign up and login into the online account is very simple. The company’s Mastercard holders can also view their account balance and make payments.
- Monthly reporting to the major credit bureaus.
In the process of improving an individual’s credit score, the company sends reports on the credit status every month to Experian, Equifax, and TransUnion that are the three major credit institutions.
- Free access to monthly credit score.
The cerulean credit card provides the consumers with an opportunity to check their credit score for free once a month provided that the individuals apply for e-statements access. The e-statement would be available online and can be checked from the online account of the consumer.
What are the Steps in Applying for Cerulean Credit Card?
The signing process for Company’s Mastercard is relatively easy and simple. And since the Cerulean card can only be issued through an invitation from the company, an individual cannot apply for it unless they have received an offer in their email. Given that the individual has received an offer code in their email, the application process for Cerulean MasterCard is pretty much straightforward. And this process can be completed in the following steps.
The first step is to visit the company’s website. When an individual is on their website, they will be shown a specific place to enter their reservation number. This reservation code is different for each individual. People who have received an email from the company can find this code in their email. Consumers would also need to enter their social security number to access the application.
In the second step, the system in place will scan the offer code and the social security number. Upon doing that, the website will be rerouted to a new page, and the individual will be given access to the application page. The consumers would need to fill out the entire application containing their personal information, full name, social security number, date of birth, physical address, and estimated gross monthly income.
To make sure here, all the information added in the application is accurate and not fabricated. False information will directly lead to the cancellation of the application, and the company can also pursue some legal action against that person.
After the application has been submitted, the company will notify the individual if they have been granted approval and when can they expect to receive their Cerulean Mastercard via the mail. The credit card would be delivered to them through mail on the mailing address provided by the individual when filling out the application. This is the last step.
The company can take a different span of time to make a decision on an application. So there is no set time on when to expect a final say from the company. There have been some cases where a person has received instant decisions online regarding credit card. However, there have been occasions where individuals heard back from the company after approximately a month.
What are the Disadvantages of Using Cerulean Credit Card?
At first, the Cerulean Mastercard might seem like a good fit for people considering having a credit card that offers promising benefits. The company provides several advantages to its consumers that make people get appealed towards it. However, there are a few drawbacks of owning this card, and people who have used the services of availing this Mastercard have listed down the following drawback. They include the following:
- Annual Fee Charges per month
The credit card has an annual fee of 99 USD billed month-wise at 8.25 USD from the consumers. This puts a consumer in a situation where the benefits offered by the company are evened up by charging the clients on owning a credit card at 99 USD. This means that if an individual did not use the credit card in a particular month, he was still charged for having to keep the card. So this additional fee is an extra burden and expense.
- Other fees charged by the company
The Credit Card has some additional fees attached to it that are to be paid by the cardholder. If a consumer wishes to get another card for an authorized user who could use that credit card, the company charges a fee of 30 USD. Also, when the consumer pays late, or there are returned payments, there is a fee of 40 USD to be paid by the consumer.
- No rewards program
The company offers no reward program under this particular credit card. Reward programs act as an incentive for the consumers, and without one, the individuals might not be attracted towards owning a credit card offered by the company. Through a reward program, the consumers can save from additional expenses, including travel, accommodation, and medication expenses. The absence of a reward program might result in individuals looking for alternatives.
- High interest rate (APR)
A Cerulean Master card holder will pay a higher interest rate of 25.9%, which is more than some other cards. Although the company’s motto is to help those who have poor credit scores, it ends up hurting these same individuals when they do not pay their dues. This means that an individual who has the financial capacity to pay the minimum amount every month would need to pay a lot more for an extended period due to the high APR.
- Availability upon invitation only
The Cerulean Mastercard is available only when an invitation has been offered to a person. An individual could not apply for it if they did not receive an invitation in their mail. Each invitation has a unique reservation code that is to be entered at the time of the application. Hence people cannot just create a code on their own as each code is scanned by the system.
- Maximum credit limit of 2000 USD
The Company’s Mastercard offers a maximum limit of 2000 USD that means that individuals that wish to make a purchase or spend more than this at one time would need to pay their dues to the company first before moving forward. At times this can get tired some, so having a credit card with a greater credit limit than a Cerulean card is preferred by a population of people.
Customers’ Reviews about Cerulean Credit Card
Consumers of Cerulean cards have mixed views about their experience with the company. While the majority of them are pleased with the services of the company, some are highly dissatisfied. People have shared their opinion, experiences on trustpilot.com. On this website, Cerulean Mastercard has a rating of 4.9/5.0, which shows a highly positive response from the consumers, with some consumers having an adverse experience. People express their opinions and expressions in a candid manner. Some of the examples of such reviews are attached below for reference.
More Reviews on Cerulean Credit Card
It is quite apparent from the reviews that the company had dealings with people who had both good and bad experiences. The reviews are not just people’s views but their experience of what they went through. While a small proportion of consumers felt that their experience with the company was not good and they would look for another company, most of the consumers were beyond satisfied with the way the company does dealings with its client. Several reviews praise the customer service department of the company for their outstanding way to deal with the issues the clients faced.
Other Cards to Use Aside from Cerulean Credit Card
The Cerulean Master card remains the favourite for most people who have used it for their own needs and preferences. There are some alternatives to this card that some unhappy clients have opted for. Let’s have a look at them.
- Indigo Mastercard
This credit card is meant for consumers with bad credit. It is designed as a medium to help people improve their credit. The Indigo credit card can be used to check account balance, pay bills, etc. People can be qualified for a credit card by providing some personal information. As with most credit cards, the Indigo credit card has some fees attached to it.
- Total Visa Card
This credit card has the benefit to be used anywhere in the world. It offers a wide variety of credit lines, and people with low credit scores get attracted. The application process is relatively easy, and decision making time is as quick as 1 minute. Some fees attached to it are annual fees, initial program fees, etc.
The cerulean credit card offers several services at a decent rate that involves specific fees. The card has good reviews from a vast majority of its consumers, showing that it can be relied on. With its fraud protection policy, people get the satisfaction to use the card without any worries. Some fees that the company asks its clients to give are an annual fee of 99 USD and additional fees like late payments.
Moreover, if individuals are given the approval for a Cerulean card by the company, that means they do not need to submit a security deposit which is a relief for customers that are having a rough time in terms of finance.
However, there are other credit cards from other companies all offering different services at various rates and fees. Some of those cards can be easily granted, but there will be high-interest rates, annual and additional fees linked to them. Hence, despite all the pros and cons, the Cerulean Mastercard is a good fit for anyone new to the world of credit.