Discover Cards

By: Rudy Hadisentosa
Submitted: 2007-01-17 16:11:03
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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

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