topic Re: Discover Matrix? in Credit Cards

Discover Matrix?

Anonymous — Sun, 03 Jun 2012 08:50:16 GMT

Anyone heard of this secured card?

Re: Discover Matrix?

trix_r_4_kids — Sun, 03 Jun 2012 09:25:41 GMT

It doesn't look good. See what others think:

http://ficoforums.myfico.com/t5/Credit-Cards/Matrix-Secured-Credit-Card-by-Discover/m-p/1421506/highlight/true#M392970

Re: Discover Matrix?

Anonymous — Tue, 05 Jun 2012 07:31:38 GMT

Thx

Re: Discover Matrix?

Anonymous — Tue, 05 Jun 2012 09:59:03 GMT

yea this card has been frowned upon and after you read the terms you will know why

Re: Discover Matrix?

Anonymous — Tue, 05 Jun 2012 11:57:29 GMT

I agree,

The terms are horrible, I believe worst than First Premier, if that is even possible.

Re: Discover Matrix?

injustifiiable — Tue, 05 Jun 2012 13:27:25 GMT

Issued by Continental Finance. Save yourself the trouble.

Re: Discover Matrix?

Anonymous — Tue, 05 Jun 2012 20:51:26 GMT

Those fees are crazy, thanks for the heads up.

Re: Discover Matrix?

Anonymous — Mon, 09 Jul 2012 20:15:56 GMT

This card is not a good card for building credit for several reasons. With an initial credit line of 300 after the first year you not only pay $75 annual fee but a monthly maintenance fee of $12($144 annually) whether you carry a balance or not, That is $219 that you pay to them and if they raise your credit after that you pay $30 for each $100 increment. Your choice but not for me.

Re: Discover Matrix?

LS2982 — Mon, 09 Jul 2012 21:26:50 GMT

Wow.....

That's just flat out wrong, trying to set a rebuilder up to fail again with those terms!

Re: Discover Matrix?

Anonymous — Fri, 17 Aug 2012 19:41:00 GMT

horrible. just got offered this car thru credit sesame...was going to go for it since it was a discover. but then i saw those fees. nope lol.

Re: Discover Matrix?

Jlu — Fri, 17 Aug 2012 20:16:30 GMT

Got the same offer through Credit Sesame and my CS FAKO is 670 with them too - makes you wonder who's interest they really serve.

Glad I will never need to app for one of these cards again.

Re: Discover Matrix?

MarcinXP — Sat, 18 Aug 2012 02:06:19 GMT

Horrible card with Horrible company and Horrible terms....Seems like Credit Sesame is getting paid for advertising this mess..

This and First Premier is sub sub prime praying on people and making money like crazy...

Go with regular sub-prime like Orchard Bank, HSBC or Capital One which now is all CAPONE! At least CAPONE has some integrity and ethics...yeah your chances of getting an anal probe from aliens is higher than a credit limit increase but to get few good tradelines reporting on your credit until you hit prime, you can't go wrong with CAPONE!

Re: Discover Matrix?

Anonymous — Fri, 11 Jan 2013 19:08:08 GMT

LOL I just got one of these joke card offers in the mail.. Thought it was a legit discover then read the annual fee and only 300 CL eff all that.

Re: Discover Matrix?

beb86 — Fri, 11 Jan 2013 19:27:32 GMT

during the first year the are legally as bad as the can be but the second year is really where they get you. $75 AF, $12 Per month fee ($144 per year) and on top of that if you choose paper statements is an extra $5 per month ($60 per year) so all together your looking at $279 bucks in fees for a card that has a $300 limit and thats only if you dont have a balance. my mailer went right in the trash

Re: Discover Matrix?

dzemboc77 — Mon, 10 Jun 2013 21:01:07 GMT

I had the card for the first year and dumped after the second. Since working on my credit and getting this card and a few other my score has gone up 100 points or so and I was able to get some cards with $1000+ limit.

Its a good card if you have really bad credit but keep it for the year adn then dump it.