Credit Cards

[7PM789]

I recently seen an advertisement for what I believe to be a new Discover card... The Continental Finance Cerulean Credit Card

http://www.creditcards.com/credit-cards/continental-finance-cerulean-hybrid-card-by-discover.php

It seems like a great alternative to first premier and capital one for those with bad credit, no credit or rebuilding.

What does everyone else think about this?

[shakalaka]

It is not a Discover Card from Discover itself. It is just managed within the network.

I would say, stay away. CapOne is much better for rebulding ...

[Shogun]

Just did a search on it.  Found this as a review.

1. Enid ( Sep 18, 2012 at 11:16 am)
   

   This company is a joke, I recieved this card to establish my credit. When you call to activate your they ask that you pay the annual fee ahead of time, even without seeing a statement. I of course declined and knew that I would pay it when I see the statement. Then they explain to you they charge you for paper statements. A ridiculous fee I might add!! On top of that a day before my due date They call not once but twice without leaving a message. You call them back and they explain that it is just a courtesy call to advise your payment is coming up. Unbelieveable!!!! Not that its due or past due, but CALL YOU TO MAKE YOUR PAYMENT BEFORE ITS EVEN DUE! They are ridiculous do not get this card!!!!!!!!!DO NOT APPLY

[jsucool76]

It is the same thing as the matrix card. It is a trash card on the discover network.

Continental finance was originally part of the "First Bank of Delaware," and they were shut down by the FDIC. Thus continental finance went solo.

[Jlu]

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7PM789 wrote:
I recently seen an advertisement for what I believe to be a new Discover card... The Continental Finance Cerulean Credit Card

http://www.creditcards.com/credit-cards/continental-finance-cerulean-hybrid-card-by-discover.php

It seems like a great alternative to first premier and capital one for those with bad credit, no credit or rebuilding.

What does everyone else think about this?

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I think you'd be better off borrowing from the italian mob. Let's see .. annual fees totalling $219 for a $300 CL card that has a 30% CLI fee ($30 for every $100 increase) and 29.99% APR. Add to that a $4.95/mo paper statement fee and DID I MENTION THIS IS A SECURED CARD? Wow. This piece of **bleep** is worse than CreditOne.

[shakalaka]

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Jlu wrote:

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7PM789 wrote:
I recently seen an advertisement for what I believe to be a new Discover card... The Continental Finance Cerulean Credit Card

http://www.creditcards.com/credit-cards/continental-finance-cerulean-hybrid-card-by-discover.php

It seems like a great alternative to first premier and capital one for those with bad credit, no credit or rebuilding.

What does everyone else think about this?

---

I think you'd be better off borrowing from the italian mob. Let's see .. annual fees totally $219 for a $300 CL card that has a 30% CLI fee ($30 for every $100 increase) and 29.99% APR. Add to that a $4.95/mo paper statement fee and DID I MENTION THIS IS A SECURED CARD? Wow. This piece of **bleep** is worse than CreditOne.

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Well it is a very good deal ... for Continental ...

Again, run away, do not look back. It is crap ...

[7PM789]

My apologies. What little I read about the card made it seem decent. I was unaware of the aforementioned negatives. I searched on this forum and had not seen it previously discussed.

[ghettodan]

Take all of the above comments with a grain of salt.  A lot of people are posting things that are not 100% true with this card.  There is a $75.00 annual fee but the 12.95 everyone is yelling and screaming about does not kick in until the 2nd year.

Also they offer a secured, partially secured and unsecured option.  I happen to have the unsecured (read NO DEPOSIT) version.  I also pay my card in full each month so if you do something like this the 29.99% rate is meaningless.

I have been using this card for a couple of months now and went with it because it did not require any type of deposit.  It is reporting to all 3 CAs and when I cancel it at the 12 month anniversary I will have 12 months of positve history reporting for the next 10 years and wont pay 1 month of monthly fees.

[jsucool76]

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ghettodan wrote:

Take all of the above comments with a grain of salt.  A lot of people are posting things that are not 100% true with this card.  There is a $75.00 annual fee but the 12.95 everyone is yelling and screaming about does not kick in until the 2nd year.

Also they offer a secured, partially secured and unsecured option.  I happen to have the unsecured (read NO DEPOSIT) version.  I also pay my card in full each month so if you do something like this the 29.99% rate is meaningless.

I have been using this card for a couple of months now and went with it because it did not require any type of deposit.  It is reporting to all 3 CAs and when I cancel it at the 12 month anniversary I will have 12 months of positve history reporting for the next 10 years and wont pay 1 month of monthly fees.

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All we're trying to say is there are better options out there. Obviously some people don't qualify for everything, and this seems like a great option judging by the fact that they will approve ANYONE, but I would at least try cap1 or something first. This company is deceitful and tries to lure people in by flashing the discover logo on their website. 

Also the reason they don't charge the monthly maintenance fees the first year is because legally, they aren't allowed to. They would need to give you right around a $1000 starting limit in order to charge that full price in AFs the first year, and there is no way they're giving anyone that starting limit, so they just don't charge you the first year. 

Another turn off is if you try to exit their application page, they flood you with popups asking you not to leave the page and to apply for it. That, to me, screams "Stay Away!" 

https://www.theceruleancard.com/

[shakalaka]

+1