topic Re: Matrix Discover in Credit Cards

Matrix Discover

phumanr — Sun, 12 May 2013 20:29:43 GMT

All,

I am in the credit rebuilding stage. Does any have any information on Matrix Discover? What are their general limits? I have a dismissed Ch. 13 BK.

Thanks,

Phumanr

Scores are: 661 (Exp.), 643 (TU), and 619 (Equifax).

Re: Matrix Discover

youngandcreditwrthy — Sun, 12 May 2013 20:40:46 GMT

Avoid them! They are horrible!
Your scores look high enough to get a GECRB store card.

Re: Matrix Discover

hawesda1 — Sun, 12 May 2013 22:48:09 GMT

Re: Matrix Discover

LS2982 — Sun, 12 May 2013 23:18:41 GMT

@phumanr wrote:
All,

I am in the credit rebuilding stage. Does any have any information on Matrix Discover? What are their general limits? I have a dismissed Ch. 13 BK.
Thanks,
Phumanr

Scores are: 661 (Exp.), 643 (TU), and 619 (Equifax).

Re: Matrix Discover

jsucool76 — Sun, 12 May 2013 23:26:29 GMT

If the credit world was the star trek world, the matrix discover would be khan.

It looks nice at a glance (its a discover card, cool design) but then when you get to know it (read the T&Cs) you realize it is evil and that botany bay was the name of a penal colony on the continent of Australia in 1996....

#nerdgasm.... Combining my favorite things,

Re: Matrix Discover

LS2982 — Sun, 12 May 2013 23:30:22 GMT

@jsucool76 wrote:
If the credit world was the star trek world, the matrix discover would be khan.

It looks nice at a glance (its a discover card, cool design) but then when you get to know it (read the T&Cs) you realize it is evil and that botany bay was the name of a penal colony on the continent of Australia in 1996....

#nerdgasm.... Combining my favorite things,

Re: Matrix Discover

jsucool76 — Sun, 12 May 2013 23:32:08 GMT

Just a quick PS...

While the matrix card runs on the discover network it isn't an actual card issued by discover. A lot of people don't notice that so they automatically assume its a good card.

ALWAYS READ THE TERMS AND CONDITIONS

that is all.

Re: Matrix Discover

LS2982 — Sun, 12 May 2013 23:33:54 GMT

@jsucool76 wrote:

Just a quick PS...

While the matrix card runs on the discover network it isn't an actual card issued by discover. A lot of people don't notice that so they automatically assume its a good card.

ALWAYS READ THE TERMS AND CONDITIONS

that is all.

Totally agree! Great advice!

Re: Matrix Discover

b_seeker — Mon, 13 May 2013 00:22:49 GMT

Curious as to why everyone hated it here, I read the nerdwallet review on the card. A $75 annual fee and a $12 monthly fee once the CARD Act protection expires? Yeah, everyone can find a better card then that garbage.

Re: Matrix Discover

phumanr — Mon, 13 May 2013 00:47:01 GMT

Wow...thanks all...I guess I am not that desperate.

My rebuilding is paying off....2 Cap 1's, $1K each, credit one bank...$750 (card sucks), macy's ($800), and best buy mastercard ($300 and $59 annual fee...need to close this one). I have a new mortgage $276 at 3.375.

I settled accounts with some very good cards (Navy, chase, justice, ge, barclays, and merrick)...with settled zero balances, but I wanted a good card for emergencies.

Thanks,

Phumanr

Re: Matrix Discover

jsucool76 — Mon, 13 May 2013 01:05:32 GMT

I'm happy you were smart enough to ask.
Cards like FP and continental finance (cerulean and matrix discover) are for when you're in such a bad situation that lenders like cap1 wont touch you. If you're able to get things like cap1 or store cards, it's best to completely avoid the sub-subprime lenders.