Credit Card Details

Use the Discover More Card® wisely and this is a great credit card, which can save you hundreds of dollars each year. Earning 5% cash back on purchases is an excellent offer, however it is limited to certain categories that changes every 3 months. There are usually 1-3 categories available each quarter and they cover a variety of purchases. They include many common expenses for most households, so the 5% bonus would rarely be wasted. As long as you spend money on travel, home, gas, groceries, hotels, movies, restaurants, or fashion then this is a card that you will benefit from.

The bonus categories are only a small part of the rewards program, where you also receive cash back on all other purchases. Due to the tiered structure of this part of the program, there are some weaknesses to be aware of. The first $1,500 in regular purchases on an annual basis will only receive 0.25% cash back, while the next $1,500 in purchases receives a 0.5% rebate. It is only when you pass $3,000 in annual purchases that you earn a 1% rebate, however it is important to note that for the bonus categories you will earn 5% starting with the first dollar spent.

Many people often dismiss the Discover More Card® due to the tiered rewards, but that may cause them to miss out on the best part of the program. Discover offer up to double the value of the rebates that you have earned, if you choose to exchange them over for gift cards from over 100 merchants. That means a $25 rebate can turn into a $50 gift card, which makes the regular cash back percentages look a lot better than at first glance. If you do not like exchanging for gifts, you can opt for statement credit or even a direct deposit into your checking account. Another important detail is that there are no limits on the rewards you can earn and also no expiration.

The Shop Discover is another feature that comes with all the Discover credit cards. When you shop at partner merchants online and go through a link from your Discover card account, you will get anywhere between 5% and 20% discount and that is on top of the credit card cash back. The merchant list has many popular stores including Best Buy, Kohl´s, Dell, Home Depot, Sears, Target, and hundreds more.

This card has one of the best balance transfer deals available at the moment. If you need to pay off higher interest rate cards, you can request a balance transfer along with the application and pay 0% interest for the first 18 months. This offer alone could help you avoid several hundred dollars in finance charges.

The more features a card has the less likely it is to be free, but you get the Discover More Card® for no annual fee. For this reason I highly recommend the card as your primary or perhaps as a backup, in case you prefer other reward types instead of cash back.