Discover® Motiva Card Review
Issued by Discover
  
|
Overall Rating:   Benefit Rating:  |
|
The Discover® Motiva 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.
Start off with a 0% intro APR on purchases and balance transfers for 15 months. A low, variable APR applies thereafter, based on your credit worthiness and the prime rate.
Through the rewards 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 an 18-month period.
Cardholders 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. Cardholders 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 0% introductory rate on purchases and balance transfers for 15 months. The APR for this card is reasonable for those who qualify.
In addition to the rewards program, the Discover® Motiva 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 participating online retailers (to earn additional cash rebates), plan to take advantage of the special 0% introductory rate before it expires, and pay on time every month will benefit most from what the Discover® Motiva 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.
Start off with a 0% intro APR on purchases and balance transfers for 15 months. A low, variable APR applies thereafter, based on your credit worthiness and the prime rate.
Through the rewards 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 an 18-month period.
Cardholders 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. Cardholders 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 0% introductory rate on purchases and balance transfers for 15 months. The APR for this card is reasonable for those who qualify.
In addition to the rewards program, the Discover® Motiva 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 participating online retailers (to earn additional cash rebates), plan to take advantage of the special 0% introductory rate before it expires, and pay on time every month will benefit most from what the Discover® Motiva 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.
Review Date: February 03, 2012
Note: The review on this card was updated on February 03, 2012. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
|
Intro Rate (Intro APR):
|
0% Intro APR* |
|
Intro Applied Towards:
|
Purchases, Balance Transfers |
|
Additional Intro Details:
|
0% intro APR on purchases and balance transfers for 15 months, then the variable purchase APR of 10.99% - 20.99%. See terms and conditions for complete details. |
|
Purchase APR:
|
10.99% - 20.99% (V)* (Variable) |
|
Cash APR:
|
23.99% Variable (Variable) |
|
Finance Configuration:
|
Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
|
Annual Fee:
|
$0 |
|
Grace Period:
|
25 Days (Min.) |
|
Over the Limit Fee:
|
n/a |
|
Cash Advance Fee:
|
Either $10 or 5% of the amount of each cash advance, whichever is greater |
|
Balance Transfer Fee:
|
3% of the amount of each transfer. |
| Credit Card Reward Program Details (Rebate) | |
|
Rebate Minimum:
|
.25% |
|
Rebate Maximum:
|
20% |
|
Additional Rebates:
|
Earn a 0.25% rebate at select warehouse clubs and discount stores. Earn 5%-20% Cashback Bonus® at participating top online retailers through Discover's exclusive online shopping site. Plus, each time you pay at least the Minimum Payment Due for e |
|
Rebate Details:
|
Earn 1% rebate on purchases after your total annual purchases exceed $3,000; purchases that are part of your first $3,000 earn .25%. Cardholders will also earn .25% rebate on purchases made at select warehouse clubs, discount stores and their affiliates. |
|
Expiration:
|
None |
|
Yearly Limit:
|
No |
| Features |
|
Most Attractive Feature(s):
|
| No annual fee; low introductory rate; rewards program. |
|
Least Attractive Feature(s):
|
| Higher APR for less qualifying applicants. |
|
Additional Features:
|
| Various Internet account related services. Fraud and security protection services. No liability for unauthorized transactions. Up to $500,000 in flight insurance. Auto 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. See website for additional benefits. |
|
Important Notations
|
| See the online Discover credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on Discover's website. |
| Additional Information |
|
Apply Online for the Discover® Motiva Card from Discover See other Cash Back Credit Cards See other Discover Credit Cards |