Discover® Motiva Card
Issued By: Discover |
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CreditCard49 Rating
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Intro APR |
Intro APR Period |
Regular APR |
Annual Fee |
Intro Good On |
Credit Needed |
3.90% |
10 months |
10.990% |
none |
Purchases |
Limited or No Credit |
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Card Info Last Reviewed 2007-04-11 |
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Our Review
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 reward program, cardholders who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a 1% rebate. Cardholders will also earn .25% for purchases made at select warehouse clubs and discount stores.
As an added bonus, cardholders are eligible to earn a 5%-20% cashback bonus at participating online retailers through Discover's exclusive online shopping site. 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 when monthly payments are received on time.
The card has no annual fee and an attractive 3.9% introductory rate on purchases for ten months and a 3.9% rate on balance transfers until the last day of the billing period ending during May 2010. The APR for this card is reasonably low for those who qualify.
Aside from the reward program, the 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 only be applied 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.
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.
Notations
The APR for purchases and balance transfers varies according to the applicant's credit history and may range from 2.74% to 9.74% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure.
View Website Details
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