I'm not sure either, if you google, Matrix credit card, it does have a page with some q & a's..You may want to check that out..
Hey eramirez, just wanted to drop in and give a word of advice based on my secured card journey. First off, how bad are you in need of a credit card? The reason I ask is because I think you should do a little more research before deciding to go with the Matrix card. In my opinion, although it is Discover, the fees are horrendous, and the reviews are not much more flattering either. I maybe a little off on the numbers but I think they're something along the lines of an APR of nearly 30%, an AF of 75 bucks, and a monthly maintenance fee of 12 bucks (144 annually)!!! If you are in dire need and your credit has completely bottomed out and you've been rejected by everyone on the planet then I understand (trust me, I've been there). Out of the 300 bucks they're giving you for a CL, they're taking back 219 in fees!!! But if you're just in the market to get established, take a good look around first. Cap One, in my opinion would be a good place to start for an unsecured card. Keep us posted. We're here to help.
Starting Score: 546
I'm at 3 months with the application still pending and they said it was still available. (I ain't gonna though! They make Premeir look good.)
If they graduated the card it might be worth establishing a relationship but I don't think they will graduate it. Does anybody know if they do?
Get that secured Blue Sky Visa from Capital Bank na. They don't do a HP on your credit and I've been impressed with them. Was my first when I got back into the game and they were Public Bank.
Capital One is great too. I really love my MTV card.
If your going secured
Digital Credit Union or NOTHING imo. why?
1. Free Fico score same one they sell here for Equifax, potential saving of $240 a year
2. Card Graduates unlike those terrible cards (you get your money back with good history and card unsecures)
3. DCU will worth with you as your accounts grow
4. Great programs that can save you a lot of money with their mortgage and car loans
5. ZERO FEES WHAT SO EVER as long as you keep your balances positive and payment history in good terms.
NEVER EVER get a subprime lender secured card. Plenty of local credit unions have better options, and you can often get the card to use within a few minutes at some local credit unions (have printers on site)
