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More Card - Wildlife Collection Details
The Discover More Card Wildlife Collection enables you to take advantage of a generous balance transfer offer until the first of December, 2007. If you apply for a Discover More Card and transfer the balance of one or more other credit cards onto it, you are effectively making Discover your primary account and thus you are able to benefit from low annual percentage rates (APR). APR will not apply on balance transfers until the last day of the billing period in February 2009, after which it will be determined at a rate between 10.99% and 18.99%.
The APR on this card is quite good even at its highest; rates are adjusted per customer according to their existing credit rating so the better your credit history the lower your APR on purchases. If you miss payments and carry your balance forward you are subject to the default APR, however, which can shoot up to 30.99%. This card is therefore ideal for anyone looking to set up a new primary credit account and take the stress off their existing credit card accounts, however if you are unable to stick with your planned monthly payments then the interest rate may change enough to not make the transfers worth your while in the long term. Cash advances on the credit card are well above average in terms of fees; you will pay 23.99% on all cash advances. There is no annual fee on the card, however, and the grace period on purchases when you pay your balance in full each month is a standard 25 days.
If you make several balance transfers onto this card account you must grant up to four weeks for the debts to be paid on the other accounts; Discover will make the payments according to the lowest amount first and the highest last. The balance transfer fee is 3%, and you cannot transfer from another Discover credit account. Late fees are $15 for balances up to $500, $39 on balances over $500 and after the special offer ends on December first of this year the fees change to $19 on balances of up to $250 and $39 on anything over that amount.
The Wildlife Collection card is a good choice if you want to enjoy low APRs on existing debts; if you can handle the payments on time so that the rate won't default to 30.99% then this is the card to get for balance transfers. |
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