Posted by William Charles on December 4, 2016
Credit Card Review

Published on December 4th, 2016 | by William Charles

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Matrix Mastercard Review – This Card Is Terrible

The Matrix Mastercard is a card design for people with bad credit. This card is filled with hidden fees and high interest rates, so let’s take a look at what this card really offers.

matrix-credit-card

Card Basics

  • Annual fee of $125 the first year, then $96 annually
  • Monthly maintenance fee is $120 annually (billed $10 per month and waived the first year)
  • APY of 30.24%

Ok so in the first year you’ll pay $125, year two onwards you’ll pay $216. To reward you for paying these massive fees, they charge you an APY of 30.24%.

Our Verdict

This is really a secured card with a maximum credit limit of $500 (although they do say you’ll be reviewed for an unsecured product). The card has no rewards program at all. In my opinion this card focuses on people with bad to poor credit that believe they don’t have many options, they are also the least likely to be able to comfortably afford these fees.

There are so many better options out there that people don’t realize for example:

It’s my sincere hope that somebody that is considering apply for this card reads this short review before doing so and realizes that there are a lot more options out there than high fee products such as this. One of the reasons we don’t use credit card affiliate links is so that we can be brutally honest about sub par offerings such as this.

Here are some other terrible credit cards:



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Bill M
Bill M

Hey, this is a better rate than the live check I just got in the mail from Republic Finance with a rate of 38.71% and an APR of 44.01% after other fees are tacked on. That’s not a typo! The envelope says Happy Holidays on it — yea, happy for these low-life money changers if I deposit the check.

Slidellian
Slidellian

Haha! I got a letter in the mail yesterday from some finance company stating that I was pre-qualified for something like $1,700. Then it said I’d have to let them put a lien on my car!

I’m so happy that my credit is great, and if I’m in a jam, I’m not forced to deal with predators like this lender. Don’t know why they even send these to me anymore. Maybe it’s because they found out that I’m carrying a balance on a card with a 0% intro APR.

JASON
JASON

They’re fooling people and make people with bad credit even worse!

NinjaX
NinjaX

definitely a bullshit CC and making a mockery out of a movie that has a lot of philosophical depth despite ratings.

in any case FYI
– Advertised via a shady ass low rate marketing company: Continental Finance
– Matrix issued by Mid America Bank & Trust Company. another low life company

NinjaX
NinjaX

oh yea, here is also the link:

http://www.yourcreditmatrix.com

GuineaPig4HireCheap
GuineaPig4HireCheap

yeah well, the blue pill poppers are a niche market that deserves a bit of ego-massaging every now and then???

WR
WR

This can be filed under “A fool and his money are soon parted”.

David
David

Poor Preston J. Montgomery….

scott
scott

I’m surprised you’re even reviewing this card. I thought you did this as a joke. I get several similar offers like these in the mail. They’re probably the only junk mail I enjoy opening as I find it hilarious to see the egregious APR’s and fees. Even when I had bad credit many years ago I didn’t go for one of these cards. That’s when Capital One came in handy.

Ender
Ender

I thought capital/credit one CC that flooded my mailbox was bad enough, yet this card makes them like angels……

With that bad a credit I would just get a cash-secured loan and pay everything with debit card…

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