Discover® Motiva(SM) Card

The most informative, down-to-earth financial advice on the internet (and best of all, it's free)

At a Glance:

  • Issuer: Discover
  • Intro APR: 3.99%
  • Regular APR: 10.99%
  • APR Type: Variable APR
  • Annual Fee: $0
  • Application Fee: $0
Link to Application

Review:

The Discover® Motiva(SM) 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 earn a 5% to 20% Cashback Bonus® at top retailers through Discover's exclusive online shopping site, and they get up to a 1% Cashback Bonus® on all other purchases. 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 time-period. Card users 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. Card users will be eligible to receive the pay-on-time bonus twice a year, every year monthly payments are received on time. The card has no annual fee, an attractive 3.9% introductory rate on purchases for six months, and a 3.9% introductory rate on balance transfers for twelve months. The APR for this card is reasonable for those who qualify. In additiom to the reward program, the Discover® Motiva(SM) 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 numerous 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(SM) 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 be applied only 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.

Rates and Fees:

  • Introductory Rates: The Discover® Motiva(SM) Card has an introductory rate of 3.99%, which applies to purchases and balance transfers and is effective for up to 6 months.
  • Purchase APR: After 6 months, when the introductory rate ends, the APR for purchases will be 10.99%. This APR is variable.
  • Cash Advance APR: The cash advance APR is 23.99%. Please note that the introductory rate does not apply to cash advances and that the cash advance APR for this particular card is fixed. Please also note that the cash advance fee is 3%, $5 minimum.
  • APR Type: The APR on purchases for this card is variable and the APR on cash advances for this card is fixed. A fixed APR means that it is guaranteed for the life of the credit card and a variable APR means that it could change according to market conditions.
  • Balance Transfer Fee: 3% for each balance transfer made under this offer
  • Annual Fee: The annual fee is $0.
  • Payment Grace Period: The grace period for this credit card is 25 Days . This means you have 25 days to pay for your purchase before interest accrues.
  • Late Payment Fee: The fee for a late payment is $19 on balances up to $250; $39 on balances over $250.
  • Over-The-Limit Fee: The fee for spending over this card's limit is $15 on balances up to $500; $39 on balances over $500.
  • Application Fee: There is no application fee.

Rewards:

  • You will earn Rebates for using this card.
  • Earn a 0.25% rebate at select warehouse clubs and discount stores. earn 5%-20% cashback bonus® at numerous top online retailers through discover's exclusive online shopping site.
  • What's the expiration policy for miles? none
  • Is there a yearly point limit? none

Card Features and Perks:

  • Full Featured Online account management tools.
  • Fraud and security protection services.
  • Full protection against unauthorized withdrawls and transactions.
  • Up to $500,000 in flight insurance.
  • Complimentary car 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.
  • Details and more benefits and perks can be found at the card's website.