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Discover® Motiva(SM) Card Review
Issued by Discover
  
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Overall Rating:
Benefit Rating:
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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 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 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 reasonably low 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 participating 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.
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 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 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 reasonably low 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 participating 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.
Review Date: June 27, 2008
Note: The review on this card was updated on June 27, 2008. 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):
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3.99% Intro APR* |
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Intro Applied Towards:
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Purchases, Balance Transfers |
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Additional Intro Details:
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There is a 3.99% introductory APR* on purchases for 6 months and a 3.9% introductory APR* on balance transfers for 12 months. See terms and conditions for complete details. |
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Purchase APR:
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10.99% (Variable) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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23.99% (Fixed) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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25 Days (Min.) |
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Late Payment Fee:
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$19 on balances up to $250; $39 on balances over $250 |
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Over the Limit Fee:
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$15 on balances up to $500; $39 on balances over $500 |
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Cash Advance Fee:
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3%, $5 minimum |
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Balance Transfer Fee:
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3% for each balance transfer made under this offer, with a minimum of $10 and a maximum of $75 |
| Credit Card Reward Program Details (Rebate) | |
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Rebate Minimum:
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0.25% |
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Rebate Maximum:
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20% |
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Additional Rebates:
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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. |
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Rebate Details:
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Earn a 0.25% rebate for up to $1,500 in general spending; 0.5% for over $1,500 up to $3,000; and 1% for over $3,000. Cardholders will also earn .25% rebate on purchases made at select warehouse clubs, discount stores and their affiliates. Rewards are rede |
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Expiration:
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None |
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Yearly Limit:
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None |
| Features | |
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Most Attractive Feature(s):
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| No annual fee; low introductory rate; reward program. | |
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Least Attractive Feature(s):
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| Higher APR for less qualifying applicants. | |
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Additional Features:
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| 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. |
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Important Notations
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| *The APR for purchases and balance transfers varies according to the applicant's credit history and may range from 10.99% - 18.99%. See website for complete terms and conditions of card usage and application disclosure. | |
| Additional Information | |
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Apply Online for the Discover® Motiva(SM) Card from Discover See other Cash Back Credit Cards See other Discover Credit Cards |
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