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Discover Motiva Card Review |
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| Cash back plus bonus for paying bill on time | |
Full Review: |
Discover Motiva gives cardholders a Pay-On-Time bonus when the minimum payment due is paid by the due date for six months in a row. This bonus is equal to the periodic finance charges shown on the upcoming statement. Cardholders also earn .25% cash back on all purchases until they have spent $1,500 with their Discover Motiva card, then .5% cash back until spending $3,000. After reaching the $3,000 threshold, cardholders earn 1% back on all purchases.
The interest rate for purchases is 3.99% for the first 6 months and anywhere from 10.99% to 18.99% thereafter, and the interest rate for balance transfers is 3.99% for the first 12 months and the same as the purchase APR thereafter. There is also a 3% transfer fee. There is no annual fee for the Discover Motiva card. These terms are a bit more complicated than those of most credit cards. Since there are no limits on how much cash back you can earn, the rewards program could be quite strong, assuming that you are likely to spend $3,000 within a relatively brief length of time. The Pay-On-Time bonus could also be a nice feature, depending on whether you carry a balance or need extra incentive to pay your bill on time. If you are likely to reach the $3,000 threshold, do carry a balance, and would like an incentive to pay your bill on time, the Discover Motiva card may be just the card you're looking for. |
Service Details:
| APR: | 10.99%-18.99% (3.99% for first 6 months) |
| Features: | .25% to 1% on all purchases; Cash bonus when you pay your bill on time for six months in a row |
| Annual Fee: | None |
| Credit Needed: | Excellent |
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