"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® Open Road Card for Students |
|---|---|
| Most Attractive | No annual fee; 0% introductory rate; rewards program. |
| Least Attractive | Low rate not available to all applicants. |
| Description | The Discover® Open Road Card for Students, issued by Discover, is designed for students who would like to earn cash rewards for their gas and auto maintenance expenses. Through the rewards program, students can earn a full 5% Cashback Bonus on your first $100 in gas and auto maintenance purchases each month for up to $1,200 each year. In addition, cardholders earn up to 1% for general purchases and can earn between 5% and 20% Cashback bonuses shopping at over 200 online retailers through ShopDiscover.com! You will receive a 1% unlimited Cashback Bonus on all purchases after your total annual purchases exceed $3,000, and other purchases that are part of your first $3,000 will earn .25%. Rewards are redeemable in $20 increments. Cardholders also earn a 0.25% Cashback Bonus at select warehouse clubs and discount stores, and they can earn a double Cashback Bonus® when redeeming their rewards for gift certificates from participating Discover® Card Partners. There is no yearly limit to the amount of rewards that may be earned and rewards do not expire as long as the account is active within an 18-month period. The card also provides standard benefits, including online account management, no liability for unauthorized transactions, and discounts on products and services at participating merchants and retailers. The APR for this card is reasonable and there is no annual fee. There is also a 0% introductory APR that applies to purchases for six months. Therefore, students who plan to use their Cashback Bonus® award at participating retailers (to earn double cashback rewards) 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® Open Road Card for Students has to offer. |
| Short Description | Through the Discover® Open Road Card for Students cash reward program, you will earn a full 5% in Cashback Bonus on your first $100 in gas and auto maintenance purchases each month for up to $1,200 each year. In addition, you'll earn a 1% unlimited Cashback Bonus on all purchases after your total annual purchases exceed $3,000, and other purchases that are part of your first $3,000 will earn .25%. You can earn between 5% and 20% Cashback bonus when you shop online at ShopDiscover.com! The card uses a more costly method to apply finance charges than some other cards, but it provides common cardholder benefits, an attractive 0% introductory rate for six months, and no annual fee. |
| Rating | 3 |
| Content Updated Date | Jun 1 2011 5:20PM |
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| Issuer | Disc |
| Category | Student |
| Card Type | Discover |
| Introductory Rate Offer | 0% APR for 6 Months* |
| Card Status | Standard |
| Introductory APR | 0.00 |
| Time Period Months or Billing Cycles | 6 |
| Time Period Type | Months |
| Intro Applied To | Purchases |
| Intro Details | There is a 0% introductory APR* on purchases for 6 months. See terms and conditions for complete details. |
| Purchase Based on Index | Prime Rate |
| Purchase Index Value | 3.25 |
| Margin Rate for Purchases | 10.74 |
| APR for Purchases Numeric | 13.99 |
| APR for Purchases | as low as 13.99% |
| Rate for Purchases is | Variable |
| Minimum APR for Purchases | No |
| APR for Purchases Updated | Monthly |
| Cash Based on Index | Prime Rate |
| 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 and $39 on balances over $500 |
| Cash Advance Fee | 5%, $10 minimum |
| Balance Transfer Fee | n/a |
| Minimum Credit Limit | n/a |
| Maximum Credit Limit | n/a |
| Type of Reward | Rebate |
| Optional Reward | No |
| Reward Expiration | None (Account inactivity for more than 36 months could result in the forfeiture of some or all of the Cashback Bonus®.) |
| Reward Yearly Limit | None |
| Rebate Minimum | 0.25% |
| Rebate Maximum | 5% |
| Additional Rebates | Earn a full 5% in cash rebates on your first $100 in gas and auto maintenance purchases each month for up to $1,200 each year. |
| Rebate Details | Earn 1% unlimited Cashback Bonus on all purchases after your total annual purchases exceed $3,000, and other purchases that are part of your first $3,000 earn .25%. |
| Additional Perks | Various Internet account related services. Fraud and security protection services. 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 | 2.50 |
| Card Benefit Rating | 3.50 |
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