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More Card - Clear Details
This Discover Card allows cardholders to not only open a regular credit card account but to gain cash back on purchases made throughout the year. By participating in each Get More program promoted by Discover, you can stay up to date on the outlets, stores and businesses that the company is affiliated with and by spending money in such places earn a higher percentage of your spending money back in $20 increments. Get More purchases will earn you 5% cash back, and for all purchases made on the Discover More Card in excess of $3000 you will earn another 1% cash back. Regular purchases that make up your first $3000 spent will earn you a lower percentage of cash back.
There are no annual fees on this card which makes it a standard Discover account, however there are many other fees included in the contract that you will need to be aware of before opening the account or using the card. In particular, late fees, overlimit fees, cash advance fees and balance transfer fees apply. Late fees for the card are calculated at $15 for any amount up to $500 and $39 for any amount exceeding that; this changes after the introductory offer ends December first 2007 so the amended fees will be $19 for any amount up to $250 and $39 for any amount over that. If you charge more to the card than you have actually been given in credit then you will need to pay an overlimit fee; this works out to $15 for anything up to $500 and $39 for anything over that amount. For cash advances you will be charged a standard Discover Card 3% with a $5 minimum for each transaction; the annual rate for advances is 23.99%.
If you want to make a balance transfer from another credit account, or several other accounts, to the Discover Card then these transactions will cost you 3% each with a $10 minimum and a $75 maximum. These transfers can only be done before December 1st so if you want these rates you need to make the transfers quickly. They will be processed within four weeks and done so in order of lowest amount owing to the highest. Discover suggests you continue to make payments on your existing accounts until you are certain the transfer has gone through.
For a pretty standard credit account with the ability to make balance transfers and to earn cash back on purchases this is a decent card to use. |
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