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Matrix Credit Card

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matrix credit card
Required Credit Score:
Minimum. Security Deposit:
1,452 reviews   Write a Review
Info about the Matrix Credit Card has been collected by CardHub to help consumers better compare credit cards. The card issuer did not provide the details.
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Matrix Credit Card’s Key APRs & Fees

  • ANNUAL FEE $125 1st yr, $96 after
  • MONTHLY FEE None 1st year, $10 after
  • REGULAR RATE 30.24% (V)
  • GRACE PERIOD 25 days

Matrix Credit Card’s Highlights

  • Initial Credit Limit of $500.00* (subject to available credit)
  • Fast and easy application process; results are provided online
  • Monthly reporting to the 3 major credit bureaus
  • Use your card at locations everywhere that MasterCard® is accepted
  • Free online account access 24/7

Matrix Credit Card’s Additional Info

  • MAX LATE FEE   $37
    30.24% (V)
    5% (min $5)

Customer Questions and Answers

Don't see what you're looking for? Submit your question about Matrix Credit Card to our community.

How long does it take to get your card in the mail?

Photo of Card H.
Dec 4, 2015
Your credit card and welcome materials will be mailed to you within 3 business days after you are approved and you pay the full amount of any applicable security deposit. Best of luck!
23 Votes 26 3

Can I use the card anywhere?

Photo of Card H.
Feb 4, 2016
This card is a MasterCard, which means it can be used anywhere MasterCard is accepted (basically anywhere in the world that takes plastic). Best of luck!
18 Votes 20 2

I'm looking for a credit card with a credit limit in the $500-$1000 range. My credit took a serious hit. What is my best option CardHub?

Photo of Card H.
Feb 23, 2016
The Matrix Credit Card can offer an initial credit limit of $500 but that really depends on your creditworthiness. If your credit took a serious hit, your best two options are the Capital One Secured MasterCard and the Harley-Davidson Secured Visa, as they do not charge annual fees. You can learn more about them here: .

In addition, you may want to sign up for our sister site WalletHub to get your free credit score and track your improvement over time: . WalletHub is the only websites that offers free credit scores and free credit reports updated on a daily basis, and you’ll get access to 24/7 more
12 Votes 17 5
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Customer Reviews

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2.7 out of 5

1,452 reviews
Photo of Bro H.
May 6, 2016
It slow on payment posting, don't taken electronically payments as bank send check option, as it not on clearance house for E-PMT.
Photo of Chelsea M.
Dec 11, 2013
The Matrix Credit Card would not be the card for me although for someone who cant get credit this may be a great starter option, a way to build. The annual fee coupled with a 29.99%APR, in comparison to other cards for those with bad or no credit the fees are pretty high. It offers no rewards. Im not sure if card has been discontinued but i would save it for a last resort and only apply if you truly need to BUILD credit.
Photo of Jason B.
Dec 8, 2013
What a horrible card! 29.99% APR, on top of an absolutely ridiculous fee structure! A 12 dollar monthly fee to have the privilege of carrying this turd in your wallet, on top of a 75 dollar annual fee? That’s over 200 bucks a year people. Oh yeah, plus a 29.99% APR. Bottom-line, this is predatory lending to people with bad credit at its worse, and you could probably get better rates at a payday loan institution. No wonder they don’t make this anymore. Stay Away!!
Photo of Kermit P.
Dec 6, 2013
I have had this card for a year. When I first got it I had no credit cards or credit. I applied and received it and had to pay 75.00 annual fee out of a checking account to first get it. I read other reviews speaking of less than stellar credit and what not, that is the case with no credit. So i got this card and built up my credit right away by getting other cards. Matrix is now a MasterCard due to being sold. I am about to close this before my year is up avoiding an annual fee and those monthly fees. Also I can tell you more
Photo of David F.
Dec 5, 2013
This card is possibly the worst card I have ever researched. There is literally nothing positive about this card unless you are the credit company. If I had to choose one word to describe this card, it would be "predatory". I am shocked a credit card charges a $75 annual fee on top of a $12 monthly fee and a $30 fee for every $100 increase. That $30 dollar fee will add up quickly considering the starting limit is only $300. Reviewing the terms of this card makes me appreciate my Discover Open Road card, which only charges late fees like any decent credit card, 5% off of gas, and more
Photo of Cody D.
Nov 25, 2013
The Matrix credit card is supposed to be great for people that have a bad credit history but I don't think that it's doing anyone any good. If someone starts to need a higher credit limit and have proved themselves, I think a $30 Fee per $100 needed is outrageous. I have seen similar cards from Capital One that don't have a fee structure like that and also don't have an annual fee like this card, $75. With there being a monthly fee of $12 after your first year I would be weary about signing up for this card at all, it seems like they are just out there to take your money!
Photo of Eric M.
Nov 21, 2013
The matrix credit card is the premiere option for individuals with low credit to use.However, the fees regarding this card seem exponentially high. For your first year you are spending 75 dollars as an annual fee, then after the first year, you are required to pay an additional monthly fee. The interest rates are also very high with the card, I would not recommend this card to anyone looking to rack up large transactions. I would also be quite weary of the purchase rate of almost 30 percent, that is higher than almost any card I have ever seen. The only purpose of this card should be to rebuild credit. more
Photo of Susan M.
Nov 16, 2013
The Matrix Credit Card accepts people with bad credit history, this is unusual and would be beneficial to people who have had a rough time and are trying to rebuild their credit rating. The interest rate is really high, however it's to be expected with a less than stellar credit history. The seventy five dollar annual fee is a bit steep. I don't like the fact that there is a $4.95 per page fee for a paper statement each month. That could add up really fast for someone who isn't computer literate or doesn't have access to a computer. A credit limit increase fee is practically unheard of . Overall, more
Photo of Sean P.
Nov 8, 2013
I've actually had really good luck with the Matrix Credit Card. It was the first card I got after trashing my credit and because of this over the course of a year I was able to raise my credit easily with this card. I purchased nothing but gas with this card because I didn't trust myself to purchase anything else while I was trying to build my credit and this card was perfect for that. I had the chance to get a similar card with Capital One and they wanted me to put down a $400 deposit. I would actually recommend this card to anyone trying to build their credit.
Photo of Krystal M.
Nov 5, 2013
The first thing that turns me off about the Matrix Credit Card is you can't get an online response immediately. You have to wait to get something in the mail. Now, this credit card has terrible rates and they're significantly high. The reason is this Matrix Card can be used by people who have bad credit. If you have terrible credit, getting a credit card like this can help you rebuild it. That's why they can get away with charging such atrocious rates. Their annual fee is about average but after the first year you have to pay a $12 monthly fee, which shoots the cost of this card sky more
Photo of Jacoby G.
Oct 29, 2013
The Discover Matrix Credit Cards is one of the worse cards that anyone could sign up for. This card has an atrocious purchase interest rate at 29.99, with a cash advance APR of the exact same rate. On top of the extremely high purchase and cash advance interest rates that this card charges, it comes with an insanely high annual fee of $75. Yet still, this card has a monthly maintenance fee of $12, $144 a year, that is charged whether you make purchases during a billing cycle or not. Essentially, with the Discover Matrix Credit Card, a typical card user is paying $219 in annual fees per year, and more
Photo of Bela K.
Oct 21, 2013
As we can see from the website, this card has apparently been discontinued. The reasons are obvious. With high fees, such as the annual seventy five dollar fee, as well as the 29 percent purchase rate, it's no wonder they cancelled this card. There are basically no rewards programs with this card and I don't even know why I bothered to use this card. I should have frozen it or cut it to pieces when the offer came in the mail! Horrible card and I would not recommend this card to anyone. The fees are high, the customer service was also bad. I once called in asking a question and more
Photo of Alex S.
Oct 12, 2013
I usually don't rate credit cards as low, but this is one of the first. It's a disappointing card. Annual fee of $75 is very high, and the monthly fee after the first year is ridiculous. I feel like there's no rewards with this card at all. This card may be an option for those in really bad credit, but if you're not, definitely look elsewhere, because there are tons of cards way better than this one if you are in good credit. The paper statement fee is also very frustrating. I can go on and on about how many negatives this card has. Just trust me and don't do more
Photo of Lily Y.
Oct 3, 2013
I felt that the annual fee was too much. Besides this card, the only card that I ever had that had an annual fee was the airlines card. The fee from this card is more than an airlines card. This card is frustrating since I don't get any rewards from it. I had this card as a way to repair credit. I wish I would saw how bad the reviews were. I felt that it was strange that they charge for paper statements. A stamp and paper does not cost $5.
The grace period was nothing special. It was very typical, for a card that is aim to help repair credit, more
Photo of Janet P.
Sep 27, 2013
The Matrix Credit Card is good for one thing and one thing only: To repair bad credit. The fees are not the best but when your options are limited you have to take what you can get. The percentage will allow you to make purchased on the card without having to pay too much extra, just make sure that you make your payments on time. The 25 day grace period is nice in case you CAN'T make your payment. The cash advance option is a nice one to have also in case of an emergency situation where you have to get the cash now. Once you get your credit score more
Photo of Janine O.
Sep 18, 2013
The Matrix credit card comes with a lot of additional fees that I haven't incurred with other cards. An annual fee of $75 seems hefty, but when you consider that there's a monthly fee of $12 after the first year...the fees are astronomical! There's an additional $4.95 per month fee for receiving paper statements (which is a first!). Not to mention one of the highest interest rates I've experienced with a credit card (29.99%).
Photo of Sheryl P.
Sep 12, 2013
If you have bad credit the Matrix Unsecured Credit Card might be your only alternative. The only good thing about this card is that they report your activity to the major credit bureaus, but at the expense of lots of tacked on fees. There are both annual fees and monthly fees, credit limit increase fees, and fees for simply wanting a paper statement. There are better credit cards out there for people with bad credit, this is not one of them I can honestly recommend. I won't only recommend this card if you truly have no other options for getting a credit card and need one to build up your more
Photo of Pat E.
Aug 30, 2013
The Matrix Credit Card, by Discover, is a card that is certainly for people with bad credit scores, and it shows in how little it has to offer. With a $75 annual fee and 30% APR, you better be sure you really need this card in order to improve your credit score. I also see that they will charge you $5 for a monthly paper statement unless you opt out, and you might need to make a safety deposit on the account first. Then, if you want more than $300 in credit, you need to pay a limit increase fee. The other reviews by users show how unfavorable this card might actually be.
Photo of Chris M.
Aug 22, 2013
With all the credit cards I have, it was bound to go bad at some point. Enter the Matrix Credit Card. I got this card to help me build my credit a long time ago, it's a horrible card, in pretty much every way. The fees, oh god the fees, they just keep piling on and getting higher and higher. The annual fee, the monthly fees, even fee's for getting a statement in the mail. How ridiculous is that? High APR as well. The only good thing about it is it does report to the credit agencies so it will help build your credit, but there are much better cards more
Photo of Darrell V.
Aug 9, 2013
These clowns are nothing but jerks. Even though I paid yesterday and i am not overdue until tomorrow they will call you on any number you gave them all day and all night harassing when they could easily log in on the system and see that you have a payment pending..DO NOT DO BUSINESS WITH THESE JERKS. THEY ARE NOT WORTHY OF ANYONE'S BUSINESS.
Photo of Rick C.
Feb 17, 2013
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 more
Photo of Atlean W.
Jan 13, 2013
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.
Photo of Darrell V.
Aug 9, 2013
I am doing the same thing. They are just rude jerks.
Photo of Frank T.
Jan 11, 2013
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 more
Photo of Alex A.
Dec 19, 2012
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 more
Photo of Yemen C.
Dec 6, 2015
Wich one u choose instead???
Photo of Zafar M.
Nov 4, 2012
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
Photo of Stephen S.
Sep 27, 2012
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 more
Photo of Margarita A.
Aug 30, 2012
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 more
Photo of John U.
Aug 1, 2012
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 more
Photo of Sher-yce R.
Jun 14, 2012
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 more
Photo of Card H.
Jun 21, 2012
You are not kidding. The fees you could rack up just owning this card could really hurt.
Photo of Joe W.
Jun 13, 2012
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 more
+1,422 users submitted a rating without a full review
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Last updated on: Aug 2nd, 2016 at 11:46 EDT

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