Discover Cards

By: Rudy Hadisentosa
Submitted: 2007-01-17 16:11:03
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

Discover Cards, operated by Discover Financial Services, a business unit of Morgan Stanley, is one of the most largely accepted forms of payment worldwide. Under the discover card brand, there is a variety of cards including Discover Classic Card, Discover Gold Card, Discover Platinum Card, Miles Card from Discover Card and an array of affinity cards. All these cards, intended for meeting the different needs of people, have several benefits and incentives.

Discover Platinum card is a cash reward credit card and designed for those who have very good credit. It offers 5% cash back on purchases made at select merchants or in certain categories all over the year and up to 1% cash back on all other purchases. The Annual Percentage Rate (APR) is 0% for purchases until the last day of the billing period. Thereafter, the standard APR, an estimated rate between 11.24% and 18.24%, is charged.

For balance transfers, it charges 0% APR till the last day of the billing period. After that the standard APR for purchases is charged. In case of default, the APR is between 16.24% and 28.99%, based on payment history. For cash advances, it charges 20.99% for Discover Platinum Card, 21.99% for Discover Gold Card and 22.99% for Discover Classic Card.

For Discover Platinum card holders, grace period is at least 25 days for repayment of the balance of purchases when you pay your balance in full each month. It applies two-cycle average daily method for computing the balance. It has no annual fee. Credit limit for Discover Platinum Card is $5,000 and in case of Discover Gold/Classic Card credit limit is $1,000.

Discover Platinum Gas Card offers 5% cash back every time you purchase gas. You will get up to 1% cash back on all your other purchases. It also offers 0% APR on purchases and balance transfers for the first 12 months and it has no annual fee. It also provides advanced fraud early warning alerts and it has fraud specialists dedicated to helping you all the time. The two cycle average daily balance method is applied to determine the card holders finance charges.

With Discover Miles Card, cardholders can take advantage of the great travel rewards earned for purchases. With this card, you will earn one mile for every dollar you spend on everyday purchases. Most major U.S. airlines will honor these bonus miles, and they can be redeemed for both regular and reduced airfares.

Discover Miles Card has no annual fee. There is also no charge for additional cards on the account. In addition, cardholders get a 0% introductory rate for the first year of getting the card, which applies both to purchases and balance transfers. The variable APR after the first year is low at 10.99%, while the fixed APR for cash advances is 20.99%. Fees are charged for services like balance transfers, cash advances and when cardholders exceed their credit limit.

Discover Student Card charges 0% APR on purchases for the first six months. It has easy account management options. This card has also 5% cash back offers on select categories throughout the year and up to 1% cash back on all other purchases.

Some of the other benefits that the user of the discover cards can receive are different card designs, online access to account information, emergency replacement of cards, protection against fraud, Insurance for auto rental, travel accident insurance up to $500,000.

However, if you are opting for any of the discover cards, you should go through the terms and conditions mentioned in the card application. If it is not clear in the application form, you should enquire the details including APR, fees and benefits before applying for the card. Also, credit cards have both pros and cons. The users should be aware of the merits and demerits if they have applied or now using the credit cards.

Note: The figures specified in this article were current at the time of writing the article. However, author doesn’t guarantee the correctness of these figures.

CCN.com is a free online credit cards  and application website. We offer credit cards selection from visa,master cards, Discover Card, american express and many others. We have quite some categories and hundreds of credit cards selection to fit your need. Apply for a credit card at CCN.com

Article source: Expert Articles

Most Recent Articles in Credit category

  • Eureka for EuroMillions - By: Isla Campbell
    Whether you're a fan of the lottery or have never played before, you may want to investigate the opportunities afforded by EuroMillions. With bigger prizes and many easy ways to play it's worth finding out more.
  • A Healthy Approach to the Credit Crunch - By: Isla Campbell
    The implications of the economic downturn are putting real financial pressures on families in the UK, but by adopting a healthier approach to life, you could save money and reap the physical benefits too.
  • What crisis? Saving money as normal - By: Isla Campbell
    Fears stemming from the recent financial climate are ensuring many people become uncertain about their money. What remains true, however, is that working hard to save can pay off in future.
  • Don't Let Your Savings Dry Up - By: Isla Campbell
    A savings account helps us to save money for a rainy day; but savers need to be smart and shop around for the best rates in order to ensure their capital survives inflation.
  • The Fair Credit Reporting Act Guards Future Home Buyers from Mistake - By: Lee Bell
    Learn about the Fair Credit Reporting Act. You have the right to fix any errors that are on your credit report.
  • Used Car Finance Guide - By: Isla Campbell
    If you're scouring the market for your next car then a major consideration will be finance. Paying for your four wheeled friend is a large financial commitment, so do your sums carefully before deciding which payment route to follow.
  • The Right Choice Can Be A Prosperous One - By: Isla Campbell
    There has never been a more appropriate time to look responsibly at your finances and look around for new and better ways to save money, as wise decisions now will help ease you through this difficult period.
  • How Important Is It To Understand Your Credit Report? - By: Donald Saunders
    Your credit report is central to any decision to grant you a loan and it is vital to know just what your report is and how you can influence the story it tells to a lender.
  • Teach the Next Generation to Stay Out of Debt - By: Joe Larson
    Kids and budgets, these are things that simply do not go well together. I joked that my kids had "cash radar" or a special homing beacon for my money. If I had any money, they'd come up to me and say, "Dad, I need this or that." And, amazingly, they always knew how much I had.
  • Applying Business Skills To Your Non Profit To Lift Performance - By: Nazeer Daud
    Running a business and a non profit has more similarities than you might expect. While the end goal of a business and non profit are both materially different, the ways of reaching the differing goals can often be the same.