Discover More Card Benefits
One aspect of the More card that I like is that it has a lot of benefits rolled into one card. You not only get 0% APR on balance transfers, for example, but you also get no interest on purchases. The card also comes with up to 5% cashback (20% cash back with select online retailiers) and an unbeatable 20% rebate if you shop at certain Discover online retailers. And all of these features come with no annual fee. Here is a quick summary of the card's benefits and features, followed by more details for each benefit.
Quick Summary:
- Earn more cash in more ways than anyone else(SM)*
- Unlimited cash rewards, automatically
- Up to 20% Cashback Bonus when you shop online*
- Double rewards with more than 100 Cashback Bonus Partners*
- Customer Service in less than a minute, anytime you want
- 0% Intro APR for up to 12 months on Balance Transfers and for 6 months on Purchases
0% APR on Balance Transfers for 6 Months
The card offers a zero interest balance transfer feature for 6 months. Transferring a high interest credit balance to the Discover More card is easy. On the Discover online application page, you'll see a section on balance transfers that looks like this:
Simply check the box when you submit your application. Later in the process, you enter the credit card account numbers of the cards you want to pay off, and subject to your credit limit, Discover takes care of the rest.
You should be aware that Discover charges a 3% balance transfers fee on the amount transferred. This means, in effect, that you are getting a fixed rate of interest of 3% for the 6-month period. From experience, I can report that Discover may cap the fee if you ask. Either way, this is still a good deal, but if this is the only feature you care about, you may want to consider other balance transfer credit cards.
0% APR on Purchases
Perfect for holiday shopping, the Discover More card offers a 0% APR on purchases for 6 months. Unlike the balance transfer feature, there is no fee to take advantage of the 0% on purchases. Simply use the card, and for six months, pay no interest. You will have to pay at least the minimum payment amount each month, but the entire payment will go to principle, not interest.
5% Cashback
The cashback rewards are one of the best features of this card. The Discover More card offers up to 5% cashback on certain purchases throughout the year. Discover introduces new categories throughout the year, including travel, gas, groceries, restaurants, movies, home, and fasion. And you earn up to 1% cashback on all purchases anytime. Here's the details from Discover:
Earn unlimited cash rewards on all purchases. Earn a full 5% Cashback Bonus on category purchases throughout the year by signing up for each program. In addition, earn a full 1% unlimited Cashback Bonus on all other purchases after your total annual purchases exceed $3,000; other purchases that are part of your first $1,500 earn .25% and other purchases that are part of your second $1,500 earn .50%. Warehouse purchases (those made at select warehouse clubs, discount stores and their affiliates) earn .25%. We do not include warehouse purchases or 5% Cashback Bonus program purchases (up to the dollar limit specified in each applicable program) in calculating your total annual purchases to determine your tier level. Rewards are redeemable in $20 increments. Rewards have no expiration date; however, if your account is closed for any reason or inactive for 18 consecutive months or if you fail to make the Minimum Payment Due by the Payment Due Date for two consecutive billing periods, your Cashback Bonus will be forfeited. Full terms and conditions will be sent with your card.
And you can redeem your bonus for cash in increments as small as $20, and Discover will transfer the funds directly to your bank account.
In addition, Discover let's you redeem your rewards for gift cards and earn up to twice the amount you'd get in cash. Discover has over 100 business partners including retailers like Kohl's, AMC Theater, Bed, Bath & Beyond, and Lowe's.
Discover Credit Card's Customer Service
When your shopping for a credit card, customer service is probably not the first thing on your mind. But it will be when you need to reach the credit card issuer for something important. And this is where Discover really stands out. Having spoken to Discover's customer service several times, I know first hand that the customer representatives are friendly and helpful. And Discover promises that you'll reach a live person within sixty seconds of calling customer support.
Customize the More Card
Discover card also let's you chose from more than 150 designs for the More card. While you can browse all of the designs on Discover's online application page, here are a few of my favorites:
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The Discover More card is arguably the best overall credit card available. If you'd like to get more information about the card or apply online at Discover, click here.
{ 6 comments… read them below or add one }
After 18 months they cancelled my card and I lost my cash-back rewards.
I’ll never get a Discover card again, so I am better off in the long run.
P, sorry to hear that. It’s one thing to have a card canceled, but I don’t understand why you lost your cash back rewards. Have you tried contacting Discover to see if you can get your cash back rewards?
P, I went to discover.com and found this in the terms and conditions of the card: “if your account is closed for any reason or inactive for 18 consecutive months or if you fail to make the Minimum Payment Due by the Payment Due Date for two consecutive billing periods, your Cashback Bonus will be forfeited.” Still, I’d contact them to see why your card was canceled and whether they would make an exception. If you don’t mind sharing, I’d be curious to know how much cash back you lost.
Sorry to hear that P. Actually, I have 2 credit cards right now and I am planning on opening or getting another credit card. By the way, what was the problem with your credit card and why is it that they have to cancel it?
Remember, you only get 5% cash back on gas 3 months of each year (for 2009 that has already passed). Also, until you spend $3000, you only get 0.25% to 0.50% cashback (specifically, you get $3.75 cash back if you spend exactly $1500, or $11.25 cash back if you spend exactly $3000). Compare that to a true (tierless) 1% cash back card, where you would have earned $30.00 if you spent exactly $3000, almost 3 times more!
Pilm, thanks for the comment, which underscores the importance of understanding how you’ll use the card before choosing a cash back offer. If you are looking for a card that pays at least 1% on every purchase, the Chase Freedom(SM) Card is worth checking out. It pays 1% on all purchases, and up to 3% on some purchases. You also get a 0% intro APR on purchases for 6 months and 0% intro APR on balance transfers for12 months.