Credit Cards

[eramirez]

i applied for The matrix unsecured credit card it was denied but I'm able to apply for a secured credit card with a $300

deposit. I would like to kow when is the grace period for me to pay the deposit on this one credit card.

[john398]

This is the one thats a Discover card right? II think it maybe too new to know

[bamagirl1]

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..

[CreditResuscitation]

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.

[injustifiiable]

I'd avoid it like the plague...backed by CONTINENTAL FINANCE and will Edited you with fees...to use your own money, none the less.

If you're looking for a secured card, check with CapOne, WF, BofA, Citi...

[IamPoe]

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. 

[armbenderc]

If you have to go unsecured and super subprime, I would suggest CreditOne over FP, matrix, curalean (whatever).

[distantarray]

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)

[IamPoe]

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IamPoe wrote:

......t secured Blue Sky Visa from Capital Bank na......

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I mean Open Sky rather than Blue Sky.