topic Matrix Secured Credit Card by Discover in Credit Cards

Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:32:45 GMT

Has anyone applied, have, know minimum deposit or know any info on approval odds (score). One site said no score is needed other said it pulls experian. This card seems new if you ask me

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:40:29 GMT

This seems to be a relatively new card. I did a quick google search and found they offer unsecured option, partially secured and fully secured. Anyone on here have this card?

Re: Matrix Secured Credit Card by Discover

Brusilov — Mon, 28 May 2012 16:40:47 GMT

As far as secured cards go I wouldn't really consider this a good deal.

29.99% APR

Annual fee of $75

Maintenance fee of $12/mo

Re: Matrix Secured Credit Card by Discover

LS2982 — Mon, 28 May 2012 16:44:27 GMT

@vonmannstein wrote:
As far as secured cards go I wouldn't really consider this a good deal.

29.99% APR
Annual fee of $75
Maintenance fee of $12/mo

Wow......thats almost FP standards....

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:44:44 GMT

12.00 a month maint fee? LOL thats insane

75.00 AF plus 144.00 for 1 yr maint. fees = no way

Re: Matrix Secured Credit Card by Discover

kevinjjc — Mon, 28 May 2012 16:46:02 GMT

It doesn't look like it's issued directly by Discover.

"Discover® and the Discover acceptance mark are service marks used by Continental Finance Company, LLC under license from Discover Financial Services."

My advice: don't do it.

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:47:23 GMT

just went on the site and read more on their terms and conditions for the unsecured card -

https://www.matrixcardapply.com/pages/termsus

29.99 APR

$30.00 for every $100 credit limit increase fee - if you request a CLI after 12 mo of having the card.

No way to ever waive the AF...

this might be the worst card ever

Re: Matrix Secured Credit Card by Discover

Brusilov — Mon, 28 May 2012 16:48:14 GMT

They don't even offer it in my state. I had to switch to CA to view the terms.

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:53:05 GMT

I hate to say this, but you would be better off with an Orchard card than this (I think). This card just wants to milk your cash from your wallet. They are charging a larger AF than AMEX Gold!!! At least AMEX Gold you can benefit from it with decent usage, I see no benefit with this card, even to (re)build your credit.

There are other options, this is a very bad one!

Re: Matrix Secured Credit Card by Discover

kevinjjc — Mon, 28 May 2012 16:53:33 GMT

@vonmannstein wrote:
As far as secured cards go I wouldn't really consider this a good deal.

29.99% APR
Annual fee of $75
Maintenance fee of $12/mo

25.00% APR for New York

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 16:55:04 GMT

Plus it is secured, so they are throwing all these fees in to use your own money!!!

I have not had a secured card in over 10 years, but I seem to remember secured cards not having such crazy fees.

Re: Matrix Secured Credit Card by Discover

kevinjjc — Mon, 28 May 2012 16:58:13 GMT

MM25

New Visitor

Posts: 1

Registered: 05-28-2012

Your first and only post so far. Hope you're not a spammer!

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 17:08:14 GMT

No im not a scammer just looking for a secured credit card to rebuild my credit but something other than visa or MasterCard. I see USAA have Amex but not to sure if I would be approved because of non military. I saw this Matrix card but after the replies I've gotten I'll pass on this card, reminds me of first premier.

Re: Matrix Secured Credit Card by Discover

llecs — Mon, 28 May 2012 17:10:35 GMT

@Anonymous wrote:
No im not a scammer just looking for a secured credit card to rebuild my credit but something other than visa or MasterCard. I see USAA have Amex but not to sure if I would be approved because of non military. I saw this Matrix card but after the replies I've gotten I'll pass on this card, reminds me of first premier.

I'd suggest checking with your local CU. Outside of locality, some favorites for secured CCs tend to be BofA, CapOne, and others.

Re: Matrix Secured Credit Card by Discover

Brusilov — Mon, 28 May 2012 17:11:04 GMT

@Anonymous wrote:
No im not a scammer just looking for a secured credit card to rebuild my credit but something other than visa or MasterCard. I see USAA have Amex but not to sure if I would be approved because of non military. I saw this Matrix card but after the replies I've gotten I'll pass on this card, reminds me of first premier.

The USAA secured card is unfortunately only for those with non-limited USAA accounts. Do you know roughly what your current FICO scores are right now? It might help in suggesting alternatives with a lot more favorable terms.

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 17:14:00 GMT

My Fico is 580's

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 17:51:30 GMT

someone out there is gonna fall for this. i have a fp secured card and for now its 19.99 apr and 50.00 af. its the worst card i posses and meets the shredder come one year.

Re: Matrix Secured Credit Card by Discover

injustifiiable — Mon, 28 May 2012 19:00:22 GMT

Looks like pure garbage to me. Glad Connecticut is not allowing them to issue cards here.

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 19:18:43 GMT

its interesting that cards like this one and the SHOW Mastercard that I received an offer in the mail a few days ago are starting to pop up. Many ppl that dont know about this board will wind up going for a card like this, because it has the discover logo on it, and they may think this is all they can get to start out.

Re: Matrix Secured Credit Card by Discover

Anonymous — Mon, 28 May 2012 19:21:17 GMT

@Anonymous wrote:
its interesting that cards like this one and the SHOW Mastercard that I received an offer in the mail a few days ago are starting to pop up. Many ppl that dont know about this board will wind up going for a card like this, because it has the discover logo on it, and they may think this is all they can get to start out.

if everyone new about myfico nobody would fall for this lol