Credit Card Reviews

Continental Finance Matrix Unsecured Card

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Helpful to 459 out of 478 people

The Continental Finance Matrix Unsecured Card by Discover is not consistent with the intent of most secured credit cards.  If the idea is to restore your credit, DO NOT, UNDER ANY CIRCUMSTANCE, use this card.  Let me say this again, if the idea is to restore your credit, DO NOT, UNDER ANY CIRCUMSTANCE, use this card.  Although there is an annual fee, the Capitol One lines of secured Cards are much better.  I have both a secured Platinum MasterCard (which raised my credit score by 15 points) and a Platinum Rewards Master Card.  I was going to apply for the Continental Finance Matrix Unsecured Card by Discover until I read the fine print.  You are immediately charged $75 and beginning the 13th month, you pay a $12 maintenance fee.  So in 2 years of ownership, this card will cost $294 + whatever you spend, + the interest.  By contrast, my Cap 1 Secured MC cost me $39 annually. And since I rarely carry a balance over $50 (because I always pay off purchases during the 21 day grace period), I’ve paid only $2.00 in interest since Nov 2011.  So my anticipated total ownership cost over 2 years will be $90, a $200 real world savings.  DO NOT EVEN CONSIDER THIS CARD.  THERE ARE MUCH BETTER OPTIONS.

MyCaliCredit's review was:    

  Aug 15, 2012 Reply

MyCaliCredit(2, 489)

Review by MyCaliCredit

2 Contributions 489 People Helped

Helpful to 30 out of 34 people

Thank you I will not use it thanks again!!! :)

rdejesus32's reply was:    

  Aug 24, 2012

rdejesus32(1, 30)

Review by rdejesus32

1 Contributions 30 People Helped

Helpful to 27 out of 32 people

it is acctually bad for your credit to cancel a credit line and will result in your credit lowering sometimes significantly.

sturcotte's reply was:    

  Oct 30, 2012

sturcotte(1, 27)

Review by sturcotte

1 Contributions 27 People Helped

Helpful to 1 out of 1 people

Owned by 2 banks...Continental and Mid America...charged 2 annual fees during transition 150$ for 300 card. Website for continental was down...while mid america HAS your info...reports negative to your credit. A payday loan would be cheaper, fees, no backup, over 220 for 300 credit...stay away, call your bank...secure a card, stay away...you dont know which bank, or what kind of card...until the bill comes!

mlrs's reply was:    

  Feb 17, 2014

mlrs(1, 1)

Review by mlrs

1 Contributions 1 People Helped

Helpful to 1 out of 1 people

Thanks! Writing reviews & giving helpful recommendations like that can really help people(like me) who don't know and/or has poor credit looking to restore or establish good credit. I have a poor credit score & was thinking of applying for the card to increase my score. You probably saved me from becoming more in debt with more to pay than I can afford or would've wanted to. God bless you!

asiyah1's reply was:    

  Dec 07, 2012

asiyah1(2, 9)

Review by asiyah1

2 Contributions 9 People Helped

Helpful to 6 out of 10 people

The $12 a month fee is waived for the first year you have the card,

I suggest before the your first year is up, is to cancel the card, avoid another $75 annual fee and $12 monthly fee.

mftinvermont's reply was:    

  Oct 21, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

thank you so much for putting these information in a lauguage that a first grader can understand

amyzainab's reply was:    

  Mar 27, 2013

amyzainab(1, 0)

Review by amyzainab

1 Contributions 0 People Helped

thank you for you very factual assessment. There is no way I would ever get this card. Thanks again.

mamabrumble59's reply was:    

  Feb 26, 2013

mamabrumble59(1, 0)

Review by mamabrumble59

1 Contributions 0 People Helped

Thanks for the helpful Advice!

notary1's reply was:    

  Feb 04, 2013

notary1(1, 0)

Review by notary1

1 Contributions 0 People Helped

It is not by Discover. It is just on their network. I think that is part of Continental's plan to trick people. Discover is reputable, and Continental is not. By the way, it takes 8 business days for a payment to be applied to your available credit, which means you're probably not going to have any money left to spend after the fees. This card is worthless. Don't get it just to raise your credit score. Get a secured loan at 5% or a secured card if you need credit that badly before you fall for this scam.

warrzone's reply was:    

  Jan 13, 2013

warrzone(2, 5)

Review by warrzone

2 Contributions 5 People Helped

Hey Pal, Why don't you just carry around $300 in cash. Than you will not pay any fees at all.These bttom feeder cards are not credit cards. Thsy are massive fee producing cards. If only 25% of their customers follows the rules. They will still make a fortune. That's what turned Capiol One into one the most gigantic card issueres.... Look at all the commercials and the Viking theme. What major life changing event or trip will this card help you with? It's 2013, what are you going to accomplish with $300. 

Brian322's reply was:    

  Jan 10, 2013

Brian322(1, 0)

Review by Brian322

1 Contributions 0 People Helped

wow thanks

cowboy5678's reply was:    

  Dec 31, 2012

cowboy5678(1, 0)

Review by cowboy5678

1 Contributions 0 People Helped

Thank You.

gycurtis's reply was:    

  Dec 12, 2012

gycurtis(2, 37)

Review by gycurtis

2 Contributions 37 People Helped

THANKYOU SO MUCH FOR THE INFO

charlene3577's reply was:    

  Nov 18, 2012

charlene3577(1, 0)

Review by charlene3577

1 Contributions 0 People Helped

So true, and dealing with the company reps is a joke.  This is a scam if you ask me!

celestekenny's reply was:    

  Nov 07, 2012

celestekenny(2, 10)

Review by celestekenny

2 Contributions 10 People Helped

If you ever plan on canceling a credit card tell them you want to cancel it at your own request and have them send you somthing that you have to sign that says that. it will help you on ur behalf but make sure to make a copy befor sending it back to them.

2010ajm's reply was:    

  Nov 02, 2012

2010ajm(1, 0)

Review by 2010ajm

1 Contributions 0 People Helped

Very helpful!

ChrisTNewman's reply was:    

  Oct 31, 2012

ChrisTNewman(1, 0)

Review by ChrisTNewman

1 Contributions 0 People Helped

That's what I just said.

Reading comprehension is your friend.

mftinvermont's reply was:    

  Oct 31, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

That's what I just said.

Reading comprehension is your friend.

mftinvermont's reply was:    

  Oct 31, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

Can You reccomend a credit card with someone with bad credit?

DT2006's reply was:    

  Oct 27, 2012

DT2006(1, 0)

Review by DT2006

1 Contributions 0 People Helped

Helpful to 2 out of 5 people

The above statement is wrong.

The $12 monthly fee only kicks in after you've had the card for 1 year.

My advice is to cancel the card BEFORE your first year anniversary BEFORE the $12 fee kicks in and another $75 annual fee is added.  By then your credit should be good enough to get a decent card without all these high fees, if your credit isn't better in a year, that's your fault.

mftinvermont's reply was:    

  Oct 21, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

Helpful to 118 out of 119 people

this clearly states Unsecured, yet when you finish the application it approves you for a Secured card and requests $300 deposit to secure your card. Wasted my time on this one!

Precision119's review was:    

  Aug 01, 2012 Reply

Precision119(1, 118)

Review by Precision119

1 Contributions 118 People Helped

Pay $275.00 for a $300.00 card Helpful to 92 out of 96 people

I was appoved then it said it needed a $200.00 deposit!! With a 75.00 fee.  Why bother with the card when you need to pay $275.00 for a $300.00 credit limit.  

tycho900's review was:    

  Oct 02, 2012 Reply

tycho900(1, 92)

Review by tycho900

1 Contributions 92 People Helped

Helpful to 30 out of 37 people

Please read the ALL the print BEFORE you click.

mftinvermont's reply was:    

  Oct 21, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

Helpful to 1 out of 2 people

Thanks for the information

Chazchyagrandma's reply was:    

  Mar 26, 2013

Chazchyagrandma(3, 1)

Review by Chazchyagrandma

3 Contributions 1 People Helped

Do Not Apply Helpful to 27 out of 27 people

If you have bad credit, this WILL make it worse. This is a total rip off. They advertise it as unsecured. That is because if you have a secured card, you pay $300 upfront, and when you use your card and pay on time, you get your deposit back. This is unsecured, because they get the same $300 up front, in forms of high annual membership and monthy maintanance, but you dont get your money back. Infact you have to keep paying, the longer you keep it. And if you cancel it, it will hurt your credit score. Save yourself the headache and apply for a secured card. You dont want to regret getting this card.

tomzlist's review was:    

  Mar 11, 2013 Reply

tomzlist(6, 32)

Review by tomzlist

6 Contributions 32 People Helped

Worst Card ever!!!! do not apply Helpful to 41 out of 43 people

They entice you, and then here comes the fees!!! As soon as i activated the card they wanted a payment, Customer Service is a joke. I was laid off and didnt make a payment for 3 months, then i owed over 430$ i called in when i got my tax money and paid them off completely only to find out they closed my account as soon as they got the payment. Not helpful, rude.....Consumers Beware!!!!!!

Feb 08, 2013 Reply
NO... STAY AWAY FROM THIS GREEDY BANK! Helpful to 30 out of 31 people

$75 Annual fee, $144 annual maintence fee ($12 per month) 29.99% interest. Are you serious? STAY AWAY PEOPLE. NOT A SMART WAY TO BUILD YOUR CREDIT. Go to your local Credit Union to build credit. WOW.. RIPP OFF! 

beaupamer's review was:    

  Feb 25, 2013 Reply

beaupamer(9, 32)

Review by beaupamer

9 Contributions 32 People Helped

Harrassing Helpful to 30 out of 31 people

I've had this card for at least 6 months now. I've never been late on a payment. All of a sudden this month, they've called 6 times in one day 'reminding' me that my bill is due. They call on my cell phone, at my job (since it is on file with them) and dont leave a message. This is annoying! It is also rediculous because I wasnt even late! I'd understand if it was passed my due date, but c'mon! Once i pay off the balace this card is being cancelled. I cannot stand how they treat me as a customer.

ninadegelman's review was:    

  Jan 21, 2013 Reply

ninadegelman(2, 30)

Review by ninadegelman

2 Contributions 30 People Helped

Helpful to 7 out of 10 people

Canceling the car will impact your score. I would just pay it down and don't use it again. lol

dwsh81's reply was:    

  Mar 22, 2013

dwsh81(2, 7)

Review by dwsh81

2 Contributions 7 People Helped

Helpful to 1 out of 1 people

Cancelling it won't hurt your score nearly as much as keeping a $219/year card with no benefits will hurt your bank account. Cancel and run...

nyastardancer's reply was:    

  Jul 25, 2013

nyastardancer(4, 2)

Review by nyastardancer

4 Contributions 2 People Helped

Con job Helpful to 38 out of 40 people

Dont apply  you cant use this card at the gas pump...... and you get hit 10.00 if you pay your bill over the phone. Tried to pay online got locked out of my account call customer service the sai to a void a 25.00 late fee pay over the phone than got hit 10.00

DO NOT UES THIS CARD THEY RIP YOU OFF 

Jan 29, 2013 Reply
BS! Helpful to 43 out of 46 people

You should not apply due to the $75 fee. Go for Capital One instead, they were the first to approve me when I had a low credit score, and they charge no fees like this card does.

c4rrie4nn's review was:    

  Nov 12, 2012 Reply

c4rrie4nn(2, 44)

Review by c4rrie4nn

2 Contributions 44 People Helped

Helpful to 34 out of 38 people

Capital One does NOT approve everyone who applies for their secured card.

Just saying.

mftinvermont's reply was:    

  Nov 28, 2012

mftinvermont(38, 105)

Top Contributor

Review by mftinvermont

38 Contributions 105 People Helped

Top Contributor

Helpful to 1 out of 1 people

I had a 657 credit score and Capitol one declined me for a SECURED card.....I ended up getting secured cards from my bank, First Progress, and Applied Bank....they are all good cards if you ask me....low fees and so far the customer service is good.  Continental finance matrix card just sounded fishy to me so I didn't apply for it, and after reading all these negative reviews, I'm glad I didn't. 

FlyGuy77064's reply was:    

  Jun 20, 2013

FlyGuy77064(1, 1)

Review by FlyGuy77064

1 Contributions 1 People Helped

Nightmare Card Helpful to 15 out of 15 people

I have had this card for 4 days now. The first day I used it, it was declined. I called back in and had to redo the activation process. It worked fine for one transaction, but when I went to get gas, it was declined again. I ended up using my debit card for the gas purchase, but when I came home to see why it was declined, the charge of $55 was on my account. I wated for it to post before calling customer service because I know if it is in a pending status they cannot do anything.  Today I have been on the phone with them for over 45min. The transaction was approved, and they will not do anything about it. Basically I was told to contact the vendor to dispute it. After submitting a copy of my bank statement showing that it was in fact taken they are pretty much saying tough luck.  Looks like my single transaction will be the last with this terrible company. I planned to use it for building credit, but not with these hassles in the first week. BEWARE!

Jun 07, 2013 Reply
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