You can enjoy all of the benefits of a Discover card even when you don't have a great credit score. With the Matrix Secured Card by Discover, you can put down a security deposit to help get you the credit line you know you can handle.
The Application Process
An online application is available for your convenience. Within minutes, you can have an entire application completed and ready to submit. Personal details such as social security number and mailing address will be requested. Once this information is verified, you will get a credit decision within a few minutes' time.
The Matrix card will take a look at your credit score. If your credit is low or you don't have any established credit, then you will qualify for the secured card. This is where you will put down a security deposit on the account. The amount that you must put down will vary based on credit history, credit line and a few other factors.
The security deposit is completely refundable. At any time you wish to cancel the card, you will get your deposit back. As your credit improves, you may also be able to get your deposit back. After you supply the deposit for the credit card, a card will be sent out to you. You can then activate the card and begin taking advantage of the many features.
Improving Your Credit Score
It's important that you improve your credit score. If you want to enjoy the various unsecured credit cards out there, you have to start somewhere. The secured card allows you to establish credit. As long as you make your payments on time each month, it will show financial stability. The credit reporting agencies will then begin to increase your credit score.
The way that Matrix helps you improve your credit is through monthly reporting. Each month, a report will be sent to TransUnion, Experian and Equifax. When each of the three credit bureaus receive your credit information, it will make it easier to ensure your credit details are being reviewed. This will have a positive impact on your credit scores as long as you are being financially responsible.
Features Of The Card
There are a lot of great features with the Discover card. Even when you don't have good credit, you can still take advantage of an actual credit card, not a prepaid one. Such features include:
- Buying power
- Online account tools
- 24/7 customer service
With the Discover card in your wallet, you get a significant amount of buying power. Whether you want to make purchases online, over the phone, at gas pumps or with millions of merchants around the globe, you can do so. As long as you adhere to your credit line, your purchase will go through without a problem.
Online account tools help you manage your credit line. With a secure log in, you can access your account when it's convenient for you. You can log on from your computer or with a mobile app. Once on, you can find out your balance, available credit and other things. You can download statements, look up past transactions and pay your bill. Should you want to contact customer service, you can do that online as well.
Customer service operates 24/7 for your convenience. You can contact representatives with a toll free number. This will allow you to speak to a live person about questions you may have. You can dispute charges, ask about credit increases, talk about account details and much more. There is also an automated system to give you up-to-date information about your account as well.
When you are making purchases online, you can enjoy many discounts. A lot of online merchants offer deals to Discover cardholders. On the Discover website, you can view a number of categories to find merchants for what you want to buy. Percentages off, dollars off and other details are made available on a regular basis. When you take advantage of these, you can save money throughout the year.
Getting the Matrix secured credit card is going to be very easy. The online application will take just minutes to complete. Before you know it, your application will be approved and your credit card will be in the mail. Then you can take advantage of all the features year-round.