Central Bank The Only Card Mastercard® Review

Central Bank The Only Card Mastercard® is a rewards credit card issued by Central Bank. If you're wondering whether Central Bank The Only Card Mastercard® is the right card for you, read on. This is everything you need to know to make a good choice.

• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 6 months.
• Competitive APRs. Central Bank The Only Card Mastercard® has a variable purchase APR that ranges from 12.24% up to 21.99%.
• No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 4% Balance transfer fee. Central Bank The Only Card Mastercard® charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, identity theft protection, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval oods if your credit score is above600.

The Good

The Bad

Lower than average purchase APRs. 0% APR on new purchases during the first 6 months. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Access to a concierge. Identity Theft Protection. Travel accident and travel assistance insurance. Considers applicants with fair or poor credit. Cardholders can earn rewards on purchases everywhere Central Bank The Only Card Mastercard® is accepted. Central Bank The Only Card Mastercard® reports to multiple credit bureaus.

Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 4% balance transfer fee.

Is there a Central Bank The Only Card Mastercard® cash back or rewards program?

Central Bank The Only Card Mastercard® offers a rewards program to its customers.

Central Bank The Only Card Mastercard® Rewards

Minimum rewards rate	1x
Max rewards rate	N/A
Annual rewards limit	N/A

What are the Central Bank The Only Card Mastercard® benefits?

Central Bank The Only Card Mastercard® provides the following benefits:

• Auto Rental Collision Damage Waiver
• Zero fraud liability
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Central Bank The Only Card Mastercard®?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Central Bank The Only Card Mastercard® has lower than average purchase APRs.

Central Bank The Only Card Mastercard® has a variable purchase APR that ranges from 12.24% up to 21.99%. The card has a variable balance transfer APR that ranges from 12.24% up to 21.99%. It also has a variable cash advance APR of 24.99% .

What are the fees for Central Bank The Only Card Mastercard®?

The following fees apply to Central Bank The Only Card Mastercard®:

• There is no overlimit fee

Central Bank The Only Card Mastercard® Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $35
Late Payment Fee	up to $35

Does Central Bank The Only Card Mastercard® report your account activity to credit bureaus?

Yes, Central Bank The Only Card Mastercard® reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Central Bank The Only Card Mastercard®

• Visit the Central Bank The Only Card Mastercard® website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.