Review of the Discover More Card
The Discover More credit card is for people who want a cashback with their credit card and plan on paying off their balance in full every month.
Basic Stuff
APR(purchases): 10.99%*
No Annual Fee*
0% Intro APR* for 6 months and is applied to Purchases, Balance Transfers.
Grace Period: 25 days*
Method of Computing Interest for Purchases: Two-Cycle Average Daily Balance*
Minimum Finance Charge: $0.50*
Balance Transfer Transaction Fee: 3% for each balance transfer made under this offer, with a minimum of $10 and a maximum of $75*
Cash Advance Transaction Fee: 3% for each cash advance with a minimum of $5*
Late Fee: $19 for balances $250.00 and lower and $39 for balances over $250.00*
*These are accurate as of 12/14/2007 please check my website for current figures of the Discover More card.
No Annual Fee*
0% Intro APR* for 6 months and is applied to Purchases, Balance Transfers.
Grace Period: 25 days*
Method of Computing Interest for Purchases: Two-Cycle Average Daily Balance*
Minimum Finance Charge: $0.50*
Balance Transfer Transaction Fee: 3% for each balance transfer made under this offer, with a minimum of $10 and a maximum of $75*
Cash Advance Transaction Fee: 3% for each cash advance with a minimum of $5*
Late Fee: $19 for balances $250.00 and lower and $39 for balances over $250.00*
*These are accurate as of 12/14/2007 please check my website for current figures of the Discover More card.
More Rewards
The Discover More card offers a wide range of rewards. If you apply and get accepted, you will receive a $40.00 cashback bonus. You earn 5% cashback on purchases made in these
Cashback Bonus Categories:
Gas
Home Improvement
Movies
Restaurants
Travel
You earn 0.25% cashback on your purchases until you have spent $1,500.00 above $1,500.00 you earn 0.50% back. You earn 1% cashback once you have spent $3,000 in a year. You can receive your money through direct deposit, or if you choose to receive a gift certificate you will receive double the amount of your reward.
Cashback Bonus Categories:
You earn 0.25% cashback on your purchases until you have spent $1,500.00 above $1,500.00 you earn 0.50% back. You earn 1% cashback once you have spent $3,000 in a year. You can receive your money through direct deposit, or if you choose to receive a gift certificate you will receive double the amount of your reward.
My Take
Receiving 5% back on gas, groceries, and more is an excellent reward. In addition, if you choose to get a gift certificate instead of cash you earn double your reward amount, which is also awesome.
This card isn't perfect though; the major downside is the Two-cycle average daily balance method they use to calculate interest. This method makes your interest much higher than the regular daily balance method, which most other credit cards use. If you do plan on getting this card you should really try to pay off your balance in full. If you don't plan on paying your balance in full every month I don't recommend this card, because the two-cycle method will really hurt you.
This card isn't perfect though; the major downside is the Two-cycle average daily balance method they use to calculate interest. This method makes your interest much higher than the regular daily balance method, which most other credit cards use. If you do plan on getting this card you should really try to pay off your balance in full. If you don't plan on paying your balance in full every month I don't recommend this card, because the two-cycle method will really hurt you.
Credit Card Links
- Apply for a Credit Card
- Credit Card Associate is here to help you apply for the credit card you want. Browse our site and compare credit cards easily with our reviews.
- Cash Back Credit Cards
- Information about cash back credit cards find out which ones offer the better rewards.
- Credit Card Rewards
- CreditCardAssociate.com breaks down and explains the different kinds of credit card rewards available.
- How to Opt-Out of Pre-Approved Credit Card Offers
- Tired of receiving credit card offers in the mail? Find out how to opt-out of them.
Discover More Card Comments
Lensmaster
matisen
discover card is a ripoff. after fighting them for 3 months for the promotional cash back that was promised me I have resorted to this. Having charged over $2000 on the card should have been given back their promo $75. Guess what they refused. Cut up card and will not be associated with this financial instit. Im putting the word out!
Posted September 12, 2008
