Are you looking for a new credit card to transfer a balance to? How about one with 0% APR for new purchases? Maybe a credit card that offers cashback rewards? Well, the Discover® More Card offers all of that and is worth looking into.
Here are the quick details of the card:
Let’s take a closer look at the features of the Discover More Card:
• 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% – 20.99%*
• 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more. Limitations apply*
• Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
• Discover is ranked #1 in customer loyalty–15 years in a row! (2011 Brand Keys Customer Loyalty Engagement Index report)
• 24/7 access to a U.S.-based Account Manager within 60 seconds
• $0 Fraud Liability plus automatic mobile and email fraud alert options
• Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
Balance Transfer
The balance transfers are for 15 months. That’s over a year of 0% interest to help knock out credit card debt. If you have a card with a high interest rate and a balance you would love to pay more principle towards then a balance transfer offer can be really nice. Be aware that there is a 4% fee for the balance transfer. Still, this could be a lot less than paying full interest on a balance.
0% APR on New Purchases
For 15 months you get 0% APR on new purchases. If you are planning a major purchase with credit then the Discover More Card may be a good option for you. After 15 months the APR reverts to a variable rate. Consider this against a retail card where if you don’t pay back the entire purchase you are charged interest going back to the time of the original purchase.
5% Cashback Bonus
The categories for the 5% cashback bonus change over the course of the year. For example, you may get the bonus for three months on travel while another month it’s for grocery and drug stores. You have to make sure you sign up for each offer and there is a limit to how much of your purchases qualify for each of the offers. Purchases that exceed the offer limit will receive 1% cashback. Be aware that warehouse purchases do not count.
Up to 1% on all other Purchases
You can earn up to 1% on most of your purchases that do not qualify for the 5% offers (the warehouse purchases do not count here as well). For the first $3000 in annual purchases you earn .25%. After that you earn 1%.
Do the Cashback Rewards Expire?
There is no expiration for rewards provided that:
- Your account is not closed;
- your card is not inactive for 18 months;
- and you do not miss the minimum payment for two consecutive months.
Under those conditions your rewards may be lost.
Free Additional Card
You can get an additional card for free. This can be useful if you have a spouse that uses a credit card and you want to earn rewards faster. Just make sure you’re on the same page about credit card spending.
Choose your Own Design
This shouldn’t be a deciding factor for a card, in my opinion, but it is nice to be able to pick a design you may like better.
Fraud Protection
Discover offers up $0 fraud liability and automatic mobile and email fraud alerts so you can have peace of mind that your account is safe.
My Thoughts
When I was first getting serious about getting out of debt I transferred my credit card balances a few times to 0% balance transfer cards. It was instrumental in getting myself out of credit card debt! Not being buried under interest payments every month and being able to pay just the principal sped up the day I could say I no longer had credit card debt. I like that the Discover More Card has a generous 15 months of 0% interest. That’s a good period of time to bite into your debt!
The 0% on new purchases can be helpful so long as you can pay off your purchases in the 6 months.
Apply now to the Discover® More Card or click to see the details.
Always make sure you read and understand the terms of any credit card before you sign up. Be aware that the terms may change after this article’s publication.
{ 6 comments… read them below or add one }
Thanks for sharing this information.
You’re quite welcome!
If you shop online and take advantage of the ShopDiscover portal this is hands down the best cash back credit card out there.
Sounds good! Thanks for the info.
One of the best credit cards for 2011, I definitely benefit with the 5% Cashback Bonus in different categories that change like travel, gas, groceries, restaurants, home improvement stores and so on!
Taking advantage of the categories can really rack up the cash back!
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