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Fine Prints: Continental Finance Matrix Discover® credit card

Picture of Item Reviewed

Editor's Rating:
Intro Purchase APR Regular APR Intro Balance Transfer Annual Fee Credit Needed
N.A. $75 Any
Executive Summary - In this section, we highlight some of the inner workings and fine prints that you should be aware of if you are looking at this card. They are pretty much standard with other similar cards.

Let's now take a closer look at some of the other fine details of this card.

  • Credit Line increases - If you have had the card for more than 12 months, you may be eligible for credit line increases. But the card will charge you a fee for that. For every $100 in credit line increase that you get, there is a fee of $30.
  • Credit Availability Depends on how money is transferred - If you have the secured version, how you transfer money to your deposit account affects when will credit be available. They best way to transfer money is via another credit card, Western Union Quick Collect or Money Gram Express Payments.
  • Security Deposit - If you get the secured version, you can deposit up to $2,000 ($300 is the minimum). But you can only put the full $2,000 after your account has been open for 90 days.

    You will also not get a credit line that is equal to your security deposit until you pay your minimums on time for three consecutive months.

    The best way to fill your deposit is by the methods we just mentioned, Western Union Quick Collect etc. If you decide to transfer via a checking account, it may be held up for up to 10 days.
  • Getting Back Your Deposit - If you decide to cancel the card, you have to pay your bills off and return the card before you can get back your deposit. And according to the fine prints, they may take as long as 90 days to give you back your deposit once you have returned the card or pay off your bills.
  • What if you file for bankruptcy? - The terms and conditions also stipulate that if you file for bankruptcy, you agree to list Continental Finance as a secured creditor and you agree to declare them as an exempt property.
  • Earn No Interest - Another fine print to take note of is that you earn no interest on your deposits

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