Discover® More Card Review

One of the best things about the Discover® More Card is the 0% introductory APR that lasts for 15 months. That’s much longer than many competitors. The intro APR, if you qualify, is available for both purchases and balance transfers. It’s much easier to pay off high interest rate credit card balances when you move them to the Discover More card. The balance transfer fee is 3%, which is comparable to what other credit cards charge.

And if you don’t have a balance to transfer, you can use your card to make a big purchase – new furniture or a vacation – and pay off the item within 15 months, interest-free. It’s just like paying cash.

After the intro APR expires, the regular APR is 11.99% to 20.99%, depending on your credit history (lower credit scores will get the higher interest rate).

Rewards Setup

The Discover More, like all Discover credit cards, offers cash rewards on purchases – up to 5% cashback on certain categories of purchases and up to 20% cashback on certain retailers when you shop through Discover’s online retail mall, ShopDiscover. You earn 1% on everything else, but only after you’ve spent a minimum of $3,000 on your credit card. Unfortunately, warehouse purchases (e.g. Sam’s and CostCo) and purchase made in 5% cashback categories don’t count toward the $3,000 threshold. Until you meet the $3,000 threshold, your purchases only earn 0.25%.

The 5% cashback categories change every few months, so you have to keep up with the changes if you want to maximize your rewards. Signup is also required to participate, but you can signup over the phone or online.

You get several options for redeeming rewards: gift card, merchandise, direct deposit into your bank, or a credit to your Discover Card. Rewards are redeemed in $50 increments with a $50 minimum. You may be able to double your rewards by redeeming them for gift cards with Discover’s preferred retailers.

Rewards only expire if your credit card is inactive for more than three years. So keep your credit card active to keep your rewards active.

Fees

There are many great reward credit cards on the market, but what sets Discover More apart from competitors is that it has no annual fee. There’s no fee to redeem your rewards and no fee if you want to order an extra credit card, say for a spouse or child.

Biggest Benefits
• 0% APR on purchases and balance transfers for 15 months.
• 5% cashback on certain categories.

Drawbacks
• You’ll earn only .25% cashback on the first $3,000 of most purchases each year.
• High redemption minimum & increments – $50.