Purchases Add up with Discover Card

SUMMARY: The Discover® More® Card, which used to be called Discover Platinum offers no annual fee and 0% APR intro rates. Discover also offers a 5% cash back for special everyday type purchases that other rewards cards may not offer. This rewards card from Discover is clear and platinum in color making it modern and fun to carry around in your wallet or purse. Discover Card plans on a new image rollout so you may see lots of changes in terms of rewards and special offers coming your way.

Discover® More Card - $75 Cashback Bonus

0% intro APR on balance transfers for a full 12 months, then the Regular APR 0% intro APR on purchases for a full 6 months, then the Regular APR Get $75 Cashback Bonus when you make $500 in purchases within 3 months 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more Up to 1% unlimited Cashback Bonus on all other purchases No Annual Fee

No Annual Fee 5% Back on Gas, Hotels, Movies, Theme Parks right now!

This particular platinum card is a great card for consumers with good credit history who are looking for excellent cash rewards in exchange for using their card.

Cardholders have the opportunity to earn extensive rewards through the Discover Card’s rewards program.  A 5% rebate is offered to cardholders who make purchases in popular categories.  These categories include gas, restaurants, travel, and clothing stores and change four times a year.  Cardholders also receive 5% cash back rewards when they shop with Discover’s online retailers.

Cash back rewards apply to other purchases as well.  A full 1% is earned on purchases after the total amount of annual purchases exceeds $3,000.  Purchases in the first $1,500 earn .25%, while purchases in the second $1,500 earn .50%.  You can earn .25% on purchases made at certain warehouse clubs and discount stores.  Additional rewards are given each time cardholders use their rebates to purchase gift certificates from certain Discover Card partners. 

Rewards can be redeemed in increments of $20.  Cardholders can accumulate an unlimited number of rewards that never expire.  However, all or some of your rewards can be forfeited if you close your account or your account is inactive for more than 36 months.

The card has no annual fee and a 0% introductory rate making it competitive with most major issuers.  Some restrictions apply to balance transfers.  They cannot be used to pay other Discover accounts.  Furthermore, balance transfer amounts do not quality for cash back rewards.  Default interest rates will apply if balance transfers cause you to exceed your credit limit or if you make a late payment on your account.  Qualifying applicants will receive a lower APR.

The Two-cycle Average Daily Balance method is used in applying finance charges for balances carried from one month to the next.  Discover cardholders, on average, will pay higher finance charges on the same balance amount than those with cards that use the Average Daily Balance Method.  This is because the Two-cycle Average Daily Balance method calculates the finance charge using the cardholder’s balance for the current month as well as the previous month, resulting in a higher balance to which the APR is applied.  The minimum finance charge is 50 cents.

The Discover More card has additional benefits that extend beyond the reward program.  Card Review Update: This card is now named the Discover® More® Card.

An example of the savings you get with the Discover Card Promotions for Holiday Shopping 2009:

You can Earn 2% Cashback Bonus on purchases made on Internet and department, clothing, shoe and jewelry store purchases from November 15, 2009 (or the date on which you sign up, whichever is later) through the end of 2009, subject to a cap of $1,000 in purchases. These purchases must post to your account by EOY on December 31st so get to shopping but do not spend over $1,000 or you only make your 1% or lower cash back on anything over.

This year in the 2010 Holiday Season you can from October to December they are offering for cardmembers to sign up for a 5% Cashback Bonus at restaurants, department stores, and clothing stores. This could mean going to dine at Cheesecake Factory, buying a gift at American Girl, then walking over to Metropark and buying clothes and getting a big 5% back. Once you get a Discover Card you can sign up for this promotion on September 1.

Other great Platinum Credit Cards to compare to Discover Platinum Card:  Discover® Open Road® Card, Discover® Motiva(SM) Card, Citibank Platinum Visa, Sam's Discover Card, Discover Open Road Card Changes, Student Cards