"Comparisons and secure applications
of the best credit card offers online."
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"Comparisons and secure applications of the best credit card offers online." |
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Additional Details, Terms and Conditions | |
| Name | Discover® Motiva Card |
|---|---|
| Most Attractive | No annual fee; low introductory rate; rewards program. |
| Least Attractive | Higher APR for less qualifying applicants. |
| Description | The Discover® Motiva Card, issued by Discover, is designed for those with very good credit who are looking to earn cash rewards by paying on time and making purchases. Through the rewards program, cardholders earn a 5% to 20% Cashback Bonus® at top retailers through Discover's exclusive online shopping site, and they get up to a 1% Cashback Bonus® on all other purchases. 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. Cardholders will also be eligible to earn a pay-on-time bonus. Each time cardholders make six on-time payments in a row they will receive a credit towards the payment of their next month's interest. Cardholders will be eligible to receive the pay-on-time bonus twice a year, every year monthly payments are received on time. The card has no annual fee, an attractive 3.99% introductory rate on purchases and balance transfers for 15 months. The APR for this card is reasonable for those who qualify. In addition to the rewards program, the Discover® Motiva Card also provides several cardholder benefits, including up to $500,000 in travel accident insurance, auto rental insurance, and various fraud and security protection services. 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 online retailers (to earn additional cash rebates), plan to pay in full each month after the introductory rate expires (to avoid costly finance charges), and pay on time every month will benefit most from what the Discover® Motiva 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 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. |
| Short Description | If you have very good credit and are looking for a cash back rewards card, then the Discover® Motiva Card may be the right card for you. Through the rewards program, cardholders earn a 5% to 20% Cashback Bonus® at top retailers through Discover's exclusive online shopping site, and they get up to a 1% Cashback Bonus® on all other purchases. Cardholders will also be eligible to earn the pay-on-time bonus each time cardholders make six on-time payments in a row. You'll receive several cardholder benefits including up to $500,000 in travel accident insurance, auto rental insurance, and various fraud and security protection services. There's no annual fee, and an attractive 3.99% introductory rate on purchases and balance transfers for 15 months. The APR for this card is reasonable for those who qualify. |
| Rating | 5 |
| Content Updated Date | Jun 20 2011 12:00AM |
| Bullets |
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| Issuer | Disc |
| Category | Reward - Cash |
| Card Type | Discover |
| Introductory Rate Offer | 3.99% APR* |
| Card Status | Standard |
| Introductory APR | 3.99 |
| Time Period Months or Billing Cycles | Varies |
| Time Period Type | Months |
| Intro Applied To | Purchases, Balance Transfers |
| Intro Details | 3.99% intro APR on balance transfers for a full 15 months, and 3.99% intro APR on purchases for a full 15 months. See terms and conditions for complete details. |
| Purchase Based on Index | Prime Rate |
| Purchase Index Value | 3.25 |
| Margin Rate for Purchases | 8.74 |
| APR for Purchases Numeric | 11.99 |
| APR for Purchases | 11.99% - 20.99% (Variable)* |
| Rate for Purchases is | Variable |
| Minimum APR for Purchases | No |
| APR for Purchases Updated | Monthly |
| Cash Index Value | 0.00 |
| Margin Rate for Cash Advances | 0.00 |
| APR for Cash Advances Numeric | 23.99 |
| APR for Cash Advances | 23.99% |
| Rate for Cash Advances is | Variable |
| Method of Computing Balance | Average Daily Balance (including new purchases) |
| Annual Fee | $0 |
| Annual Fee for Additional Cardholders | $0 |
| Annual Fee Details | None |
| 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 | 4% |
| Minimum Credit Limit | n/a |
| Maximum Credit Limit | n/a |
| Type of Reward | Rebate |
| Optional Reward | No |
| Reward Expiration | None |
| Reward Yearly Limit | None |
| Rebate Minimum | 0.25% |
| Rebate Maximum | 20% |
| Additional Rebates | Earn a 0.25% rebate at select warehouse clubs and discount stores. Earn 5%-20% Cashback Bonus® at participating top online retailers through Discover's exclusive online shopping site. |
| Rebate Details | Earn a 0.25% rebate for up to $1,500 in general spending; 0.5% for over $1,500 up to $3,000; and 1% for over $3,000. Cardholders will also earn .25% rebate on purchases made at select warehouse clubs, discount stores and their affiliates. Rewards are redeemable in $20 increments only. |
| Additional Perks | Various Internet account related services. Fraud and security protection services. No liability for unauthorized transactions. Up to $500,000 in flight insurance. Auto rental insurance. Access to Pay-On-Time Bonus. Access to 5%-20% Cashback Bonus at top online retailers through Discover's exclusive online shopping site. Flexible payment due dates. See website for additional benefits. |
| Important Notations | See the online Discover credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Here" button, you can review the credit card terms and conditions on Discover’s website. |
| Card Overall Rating | 5.00 |
| Card Benefit Rating | 4.00 |
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