 |
  |
|
|
|
|
Discover® More(SM) Card - Monogram Review
Issued by Discover
  
|
Overall Rating:
Benefit Rating:
|
|
The Discover® More (SM) Card – Monogram is perfect for a person with very good credit looking for a card that can earn cash rewards. The card also features personalized designs which displays the cardholder's intial(s) on the card's face.
The reward program allows cardholders to earn a 5% Cashback Bonus in categories such as travel, gas, restaurants, movies, and more. In addition, cardholders can automatically earn up to a 1% Cashback Bonus on all other purchases.
As an added bonus, cardholders can earn up to a double Cashback Bonus when their rebates are redeemed for gift certificates from participating Discover® Card Partners. 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.
A unique feature with this card is that cardholders can choose from several card designs that will display their initial(s) on the front of the card.
The card has no annual fee, a 0% introductory rate on purchases for six months, and a 0% introductory rate on balance transfers for twelve months. The APR for this card is reasonably low for those who qualify.
The card also provides several platinum benefits, including up to $500,000 in travel accident insurance, auto rental insurance, and various fraud and security protection services. Cardholders will also receive discounts on products and services at participating merchants and retailers.
Therefore, those who plan on spending over $3,000 a year (to earn the 1% cash rebate), plan on using their Cashback Bonus award at participating retailers (to earn double cash rebates), and plan on paying in full each month after the introductory rate expires (to avoid costly finance charges) will benefit most from what the Discover® More(SM) Card - Monogram 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 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 or the full 5% Cashback Bonus award.
The reward program allows cardholders to earn a 5% Cashback Bonus in categories such as travel, gas, restaurants, movies, and more. In addition, cardholders can automatically earn up to a 1% Cashback Bonus on all other purchases.
As an added bonus, cardholders can earn up to a double Cashback Bonus when their rebates are redeemed for gift certificates from participating Discover® Card Partners. 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.
A unique feature with this card is that cardholders can choose from several card designs that will display their initial(s) on the front of the card.
The card has no annual fee, a 0% introductory rate on purchases for six months, and a 0% introductory rate on balance transfers for twelve months. The APR for this card is reasonably low for those who qualify.
The card also provides several platinum benefits, including up to $500,000 in travel accident insurance, auto rental insurance, and various fraud and security protection services. Cardholders will also receive discounts on products and services at participating merchants and retailers.
Therefore, those who plan on spending over $3,000 a year (to earn the 1% cash rebate), plan on using their Cashback Bonus award at participating retailers (to earn double cash rebates), and plan on paying in full each month after the introductory rate expires (to avoid costly finance charges) will benefit most from what the Discover® More(SM) Card - Monogram 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 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 or the full 5% Cashback Bonus award.
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):
|
0% Intro APR* |
|
Intro Applied Towards:
|
Purchases, Balance Transfers |
|
Additional Intro Details:
|
There is a 0% introductory APR* on purchases for 6 months and a 0% introductory APR* on balance transfers for 12 months. See terms and conditions for complete details. |
|
Purchase APR:
|
10.99% (Fixed) The APR for purchases is based on the Prime Rate. |
|
Cash APR:
|
23.99% (Fixed) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
|
Finance Configuration:
|
Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
|
Annual Fee:
|
$0 |
|
Additional Cardholders:
|
$0 |
|
Grace Period:
|
25 Days (Min.) |
|
Late Payment Fee:
|
$19 on balances up to $250; $39 on balances over $250 |
|
Over the Limit Fee:
|
$15 on balances up to $500; $39 on balances over $500 |
|
Cash Advance Fee:
|
3%, $5 minimum |
|
Balance Transfer Fee:
|
3% for each balance transfer made under this offer, with a minimum of $10 and a maximum of $75. |
|
Minimum Credit Limit:
|
$5,000 |
|
Maximum Credit Limit:
|
$50,000 |
| Credit Card Reward Program Details (Rebate) | |
|
Rebate Minimum:
|
0.25% |
|
Rebate Maximum:
|
5% |
|
Additional Rebates:
|
Cardholders earn a 5% Cashback Bonus in categories like travel, home, gas, restaurants, movies, and more. Earn up to a 1% Cashback Bonus on all other purchases automatically. |
|
Rebate Details:
|
See the Discover® More Card terms and conditions for more information. |
|
Expiration:
|
None (Account inactivity for more than 36 months could result in the forfeiture of some or all of the Cashback Bonus.) |
|
Yearly Limit:
|
None |
| Features | |
|
Most Attractive Feature(s):
|
|
| Personalized card design; double cash rebates at participating retailers and merchants (through the Cashback Bonus award program); 0% introductory APR; no annual fee. | |
|
Least Attractive Feature(s):
|
|
| Low rate not available to all applicants. | |
|
Additional Features:
|
|
| Cardholders choose their personalized card design. Various Internet account related services. Up to $500,000 in travel accident insurance. Fraud and security protection services. Auto rental insurance. Discounts on products and services at participating merchants and retailers. See website for additional benefits. |
|
|
Important Notations
|
|
| *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 | |
|
Apply Online for the Discover® More(SM) Card - Monogram from Discover See other Cash Back Credit Cards See other Discover Credit Cards |
|
