- Monthly reporting to the three major credit bureaus.
- No application fees.
- If you elect to receive your Monthly Billing Statement via paper, you will be charged a Paper Statement Fee of $4.95 per paper statement each month. You can avoid being charged this fee by electing to receive the Monthly Billing Statement electronically.
- If you are granted a Credit Limit Increase, your account will be assessed a Credit Limit Increase Fee of $30 for each $100 increase in your Credit Limit.
- Upon approval, this credit card will grant you a credit limit of $300. In some cases, you may be required to provide a security deposit to qualify for the credit card.
|Annual Fee $75||Monthly Fee None 1st year, $12 after||One-time Fees None|
|Purchase Rate 29.99% (V)||Grace Period 25 days|
|Cash Advance Rate 29.99% (V)||Cash Advance Fee None 1st yr, $5 or 5% after|
|Max Late Fee $35||Max Overlimit Fee None||Max Penalty APR None|
If you currently have the Matrix Credit Card and are satisfied or you like the terms of this credit card offer please let your friends know.
Share your experiences, thoughts or just ask a question:
- David E. Ryan:
Website does not work Customer service is not in service , Paying the outstanding Balance by mail cutting card in Half and returning it.
May 4, 2013 at 12:50am
- Gloria Wichmann:
Why won't Matrix access my Discover card balance on line?
April 11, 2013 at 05:58pm
- Rick Cook:
Received an application in the mail for a Matrix card, so I got on line to check on the reviews. Thank God for the internet and some honest to God feedback from John Q Public. This application is going in the trash. During my recovery from bankruptcy (Dec 2010) I received a bunch of applications (just like this one) for a credit card with "Loan Shark" conditions, and I refused to get sucked into one of these. Then, about a year after my bankruptcy, along came Capitol One with a damn good offer. No Applications Fees......NO annual or monthly fees.....NO interest rate for 6 months. I was apprehensive when applying for it, but it turned out to be the real deal. I've read comments that reflect how fortunate some people should be that such a credit card is available and designed to help them despite their crappy credit. I say B.S. This card, and everyone and everything that goes with it, is DESIGNED to extort and prey on people who have already taken a financial beating. WTF !!!
February 17, 2013 at 04:25am
- Atlean Walker:
I wish I had not applied for this card.I have not had it long and I'm going to pay it off and canceal.
January 13, 2013 at 06:27pm
- Frank Thomas:
Lesson learned with this card! With a desperate need for a credit card I applied for the Matrix card without really looking into all the details. Huge mistake. This card was pretty much worthless from the moment I got it. My balance took a hit from the first fee, and then the interest rate was just horrible. I would not suggest this card to anyone looking for a new credit card due to their lack of credit. If you take the time to look around, you will find far better cards than this one! I wish I would of, and regret my decision to take this card. I canceled it of course and moved on to another card which has been much more successful in building my credit!
January 11, 2013 at 04:28pm
- Alex Alexson:
The Matrix card was one of my first credit cards. I got it only because I had virtually no credit, and did not qualify for any better cards. The annual fee on this card is very high at $75. I've seen cards that charge about $60, but this is the first I have seen that charges more than that. The interest rate is also extremely high. I know this is for people with little credit or bad credit, but 29% is just crazy. I would only recommend this card if it is literally the only one that you can get. If you can get something else, don't even think about getting the Matrix card.
December 19, 2012 at 03:04pm
- Anonymous User:
I am looking for an Unsecured Card with a $500 limit, for now.
November 29, 2012 at 05:27pm
- Zafar Malik:
It is a very frightening card.Beware.I was not aware Of its huge fees.It has overdrawn my Bank Account before the card is received. I am going To cancel it before i activate this card.It is a horrible card. Zafar malik
November 4, 2012 at 03:22am
- Anonymous User:
I keep getting prescreened offers from captial one. I recently bought a new truck a couple of months ago and my credit score was like a 590. Do you think I would qualify for this card, its unsecured for like 500.
October 18, 2012 at 03:33am
- Stephen Samuels:
Many people have found themselves in a position where they either don't have any credit because they are just starting out or they have bad credit because of financial hardship. This card is designed to help those situations. You start out small and you work on building. The bad part is it comes with an annual fee, low credit line, high apr and lots of potential fees. If you need help with your credit this card is okay just know what you are getting into before hand and be sure to pay it off each month. If you don't need help with your credit this card is simply a waste of your time.
September 27, 2012 at 02:31pm
- Manda Kay:
having issue applying for matrix card your link is broken.
September 3, 2012 at 04:34am
- Anonymous User:
The Matrix Discover Unsecured credit card if for those of us who do not have the best credit and really want to try and re-establish credit to get us back on our feet. There is a pretty steep annual fee allocated to this card, but the really hard part is dealing with the 28-29% apr! Is this the best card out there for people with poor credit like myself? Maybe no but I really like being able to get the monthly credit report to see if I am climbing back up to positive credit scores again. If you are smart and pay off the majority of your credit card each month, then the apr isn’t too big of a deal. I like this card and it helped me get back on my feet and try to re-establish my poor credit rating.
August 30, 2012 at 02:29pm
- John Updegraff:
I found it really hard when I was looking for a card to help me rebuild my credit. I can understand the $75 because I have had bad credit, but the interest rate was very hard to manage at 29%. I find it somewhat ridiculous that I want to rebuild my credit at the expense of being broke on interest. I am trying to get in the habit of paying it off each month and not having interest charges, so I guess the good thing about the high interest rate is that I am afraid of having any money left on the card to pay at the end of the month. Overall it has not been bad, but I might advise you took look elsewhere for a good card to start with.
August 1, 2012 at 03:31pm
- Marion 'Crush' Rush:
I'm looking for a credit card, with 500-1000. Due to some bad decisions out of high school, and the unexpected loss of a career level job my credit took a serious hit. What is my best option Card hub?
July 16, 2012 at 09:16pm
- John W Spurling:
I need a maximum of 5,000.00 unsecured credit card with bad credit.
July 6, 2012 at 09:27pm
- Sher-yce Reese:
I got this card when I was in college, and everyone thought it was so cool to be able to spend money that you didn't necessarily have at the time. Well, this credit card made me hate credit cards! I was recommended this card by my school's website, and I have no idea why. I felt like I was paying more fees and interest than I was actually paying for the items that I purchased. I understand that this credit card is made for individuals with poor credit, but stacking fees on fees is going to make it even more impossible for them to pay it back on time, where as if the fees were normal they would probably have no problems with paying it back. I have since paid off this card, and never plan on using it ever again.
June 14, 2012 at 05:03pm
- Joe Weider:
Should you get the Matrix Credit Card or not? That’s kind of like when Neo had to decide whether to take the red or the blue pill, huh? I don’t know whether Continental Finance is trying to attract the sci-fi crowd or whether the Matrix Unsecured Credit Card is at all related to the movie, but I suppose it doesn’t really matter. You don’t want to choose a credit card for its branding; it’s not a lunchbox, after all. You need to judge cards on their merits alone, so let’s go ahead and do that. The Matrix Card is for people with bad credit, so its $75 annual fee in somewhat understandable. The other fees it charges aren’t, though. A $12 monthly fee starts being assessed during the second year, and while you may be able to rebuild your credit standing enough to get a credit card for fair credit by then, you might not and you don’t want to end up paying $219 per year for a credit card, especially one that doesn’t offer rewards or low interest rates. You don’t want to pay the $30 fee the Matrix card charges to increase your credit limit by $100 either. The only reason to get an unsecured credit card for bad credit is if you have an emergency and need access to additional credit. Short of this, a secured credit card is a much better choice. Secured cards don’t have the same high fees as unsecured credit cards for bad credit because the refundable security deposit that you place protects issuers from default. The deposit also acts as your credit line, so you can increase your deposit whenever you want for free by simply adding to your deposit. The Orchard Bank Secured Card would have been a good option because it didn’t charge an annual fee during the first year. Unfortunately, after Capital One bought HSBC’s US credit card business, they discontinued this offer. The Capital One Prepaid Card isn’t bad, though; it only charges a $29 annual fee.
June 13, 2012 at 09:02pm
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The card information shown on this page was last updated: June 6th, 2013 at 5:14 EDT
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