The Discover® More(SM) Card, issued by Discover, is designed for those with very good credit who are looking for a cash reward credit card.
Through the reward program, cardholders earn a 5% Cashback Bonus® in categories such as travel, gas, restaurants, movies, and more. Cardholders also earn up to 1% for general purchases and up to 1% Cashback Bonus on all other purchases automatically.
As an added bonus, cardholders can earn up to a double Cashback Bonus® when redeeming their rebates for gift certificates from participating Discover® Card Partners. There is no yearly limit on the amount of rebates that can be earned, and rebates do not expire as long as the account is active within a 36-month period.
The card has no annual fee, an attractive 0% introductory rate on purchases for six months, and a 0% introductory rate on balance transfers for twelve months. The APR for this card is reasonable for those who qualify.
Finance charges that are applied use the "Two Cycles Average Daily Balance" method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the "Average Daily Balance" method used by most card issuers.
Aside from the reward program, the card also provides several platinum benefits, including up to $500,000 in travel accident insurance, auto rental insurance, and various fraud and security protection services. Cardholders will also receive discounts on products and services at participating merchants and retailers.
Therefore, those who plan to spend over $3,000 a year (to earn the 1% cash rebate), plan to use their Cashback Bonus® award at participating retailers (to earn double cash rebates), and plan to pay in full each month after the introductory rate expires (to avoid costly finance charges) will benefit most from what the Discover® More(SM) Card has to offer.
*It is important to note that like many cash reward cards, the highest rebate offered will not apply to all purchases made with the credit card. In this case, 1% will only be applied only to those purchases made after the cardholder spends over $3,000 in one year, so the overall cash rebate earned will be less than 1%, depending on the amount spent. For instance, if the cardholder were to spend $4,000, only $1,000 of this amount would be applied towards the 1% rebate. However, this does not take into account any promotional offers or the full 5% Cashback Bonus® award.
Note: The review on this card was updated on August 19, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
Credit Card Rate Details
Intro Rate (Intro APR):
0% Intro APR*
Intro Applied Towards:
Purchases, Balance Transfers
Additional Intro Details:
There is a 0% introductory APR* on purchases for 6 months and a 0% introductory APR* on balance transfers for 12 months. See terms and conditions for complete details.
Purchase APR:
10.99% (Variable) The APR for purchases is based on the Prime Rate.
Cash APR:
23.99% (Fixed) The APR for cash advances is based on the Prime Rate.
Finance Configuration:
Average Daily Balance (including new purchases)
Credit Card Fee Details
Annual Fee:
$0
Additional Cardholders:
$0
Grace Period:
25 Days (Min.)
Late Payment Fee:
$19 on balances up to $250; $39 on balances over $250
Over the Limit Fee:
$15 on balances up to $500; $39 on balances over $500
Cash Advance Fee:
3%, $5 minimum
Balance Transfer Fee:
3% for each balance transfer made under this offer, with a minimum of $10 and a maximum of $75
Minimum Credit Limit:
$5,000
Maximum Credit Limit:
$50,000
Credit Card Reward Program Details (Rebate)
Rebate Minimum:
0.25%
Rebate Maximum:
5%
Additional Rebates:
Earn a 5% Cashback Bonus® for purchases in categories like travel, home, gas, restaurants, movies, and more. Earn up to 1% Cashback Bonus® on all other purchases automatically.
Rebate Details:
See the Discover® More Card terms and conditions for more information.
Expiration:
None (Account inactivity for more than 36 months could result in the forfeiture of some or all of the Cashback Bonus®.)
Yearly Limit:
None
Features
Most Attractive Feature(s):
Double cash rebates at participating retailers and merchants (through the Cashback Bonus® award program); 0% introductory rate; no annual fee.
Least Attractive Feature(s):
Low rate not available to all applicants.
Additional Features:
Various card designs to select from. Various Internet account related services. Up to $500,000 in travel accident insurance. Fraud and security protection services. Auto rental insurance. Discounts on products and services at participating merchants and retailers. See website for additional benefits.
Important Notations
*The APR for purchases and balance transfers varies according to the applicant's credit history and may range from 10.99% - 18.99%. See website for complete terms and conditions of card usage and application disclosure.
