The Seen Mastercard, issued by Coastal Community Bank, is designed for individuals looking to rebuild their credit scores, specifically targeting those with scores between 550 and 620. This unsecured credit card stands out due to its lower fees compared to traditional "fee-harvester" cards, which often impose hefty annual and monthly fees. With an annual fee ranging from $0 to $75, no foreign transaction fees, and a relatively low late fee of $25, it offers a more affordable option for users. However, potential cardholders should consider alternatives like secured credit cards that may provide better long-term financial benefits, such as cash back rewards and the ability to recover their security deposit. While the Seen Mastercard allows for credit limit increases after consistent on-time payments, it comes with a high APR of nearly 36%, making it crucial to pay off balances promptly. Payments are reported to all three major credit bureaus, aiding in credit rebuilding efforts.
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