Potential cardholders can apply for a Matrix MasterCard online at the Continental Finance website or by calling 866-513-4598, explains Continental Finance. Clients who receive a preapproved offer in the mail can apply by completing and returning those forms.Continue Reading
Potential cardholders who apply online or by phone often receive a credit decision within just a few minutes. In some cases, Continental Finance needs to gather more information, and this process can take up to 30 days. Once the company approves a cardholder for an account, it mails the physical card and welcome materials within three business days, notes Continental Finance. The cardholder must activate the new card by phone within 30 days, or the account automatically closes, making the card unusable.
As of 2015, the Matrix MasterCard carries an annual fee of $125 for the first year and $96 annually after that, according to the card's terms and conditions on the Continental Finance website. Cardholders must begin paying a monthly maintenance fee of $10 after the first year. A one-time additional card fee of $30 applies if the account holder chooses to add an authorized user to the card. Some cardholders may need to make a security deposit before activating their account.Learn more about Credit & Lending