Get 5% Cash Back with the Discover Card!
Which Discover Cards are Worth Applying for?
After reading the pros and cons of Discovercard below you decide you want to apply these are the correct links for the correct type of Discover card:
The More Card offers $50 cash back, no annual fee, 5% cash back on some but not all purchases. Student cards have no annual discover card and are easier to get accepted into by those who need to establish credit.
The key if there is one to managing your credit and not getting burned is to do the following:
Get a Credit Card that pays you for using it with CASH BACK
Get a Credit Card that has no annual fee
ALWAYS pay off BEFORE the balance is due
One more trick to effectively taking advantage of credit is to learn your EXACT billing period. Then purchase larger items at the front end of the billing period and keep your money in an interest bearing account at your Bank or Credit Union. Pay off the card with just enough time before the close of the due date to insure that you do not EVER pay any interest charges.
If you follow these simple steps you will actually MAKE MONEY by using your credit card. Slip up even once and the fees and interest charges will quickly erase any benefits you may accrue.
The Advantages of the Discover Card:
Pays Cash Back on Purchases (With the right card, not all Discovercards do)
Has no annual Fee
Easy application and very fast response
Provides $500,000 Travel Insurance when you use to Book Flights
Provides $25,000 Collision Coverage when you Book Cars
Online Access to Transaction History
Option to pay by smart check electronic fund transfers
No liability for unauthorized transactions when shopping online
Not as widely accepted as VISA (however 3.5 million merchants take Discovercard)
Late fees – $15-$35 about the same as most cards, dont be late!
Interest Charges 8.24% + Prime (Average Rate for a Credit Card)
3% Interest on Cash Advances
Note: You do NOT want to apply for the Motiva card. Its pitch is interest back when you make payments on time. If you are making payments and not paying your balance in full each billing period you are throwing money away! Dont do it! I do not recommend the Discover Travel Cards because they have a high annual fee ($60)