Discover® More® Card Review

Discover More Card review Summary - The Discover® More® Card is one of the best cash back cards in the market today. Right now, they are offering two different balance transfer deals. The first deal will offer new card holders a 0% Intro APR on balance transfer for 18 months. You can apply for this deal here.

The second deal has No Balance Transfer Fee and has a 0% Intro APR on Balance Transfer for 12 months. You can apply for this deal here. The great standout features of this card is their excellent online shopping portal, and their 5% rotating categories.

Below is a main summary of its' features before we get into the proper review.

5% rebates on categories like Gas Stations, Restaurants, Movie Theaters, Movie Rentals
5% and 20% rebates (I look at them more like discounts) at over 100 online retailers like GAP.com, OldNavy.com, Dell.com, BestBuy.com!
You can also Double the value of rebates that you have earned if you redeem them for select gift cards (over 100 partners).
One of the rare cards that give 25 day grace period
Separate card number for online shopping - extra security

Rebate Formula - The Discover® More Card is a tiered cash back credit card. You can potentially earn up to 2% rebate. Here is how it works. The tiered cash back formula is based on your annual expenditure. For the first $1,500 in annual expenditure, you earn 0.25%. For the next $1,500 in annual expenditure (ie $1,500 to $3,000), you earn 0.50% rebate. Once your annual expenditures exceed $3,000, you earn 1% rebate. You can earn unlimited rebates which do not expire.

5% Rebates for Rotating Categories - Discover gives 5% rebates on various categories that rotate once every quarter. Below is 2012 schedule.

January-March: Gas, Museums, Movies (cap of $1500 in spending in these categories)
April-June: Restaurants and Movies (cap of $1500 in spending in these categories)
July-September: Gas, Movies, Theme Parks (cap not announced yet)
October-December: Department Stores, Electronics Stores, Toy Stores (cap not announced yet)

Shop Discover Card - The Shop Discover is another great feature of all Discover cards (and perhaps the best). When you use your Discover card to shop at partner merchants from Discover's website (shopdiscover.com), you will earn anywhere between 5% and 20% discounts. So rather than going directly to the merchants' website, all you have to do is just to login into your account and navigate to the merchant's site from there (it is essentially the same site - but it tracks your purchases made on your Discover Card). Below is the full list of their merchant partners and the discounts you can get..

shop discover

Double the value of your rebates - But best of all, the Discover® More(SM) Card is that you can up to double the value of the cash rebates you have earned by exchanging them for over 100 merchant partners gift certificate. That means that a $20.00 rebate can turn into a $40.00 gift certificate. Below is the list of their present partners.

shop discover

Fees and Rates - The Discover® More Card has no annual fee*. The grace period on purchases is 25 days, more than the standard 20 days used by most credit cards. The average daily balance method is used to calculate monthly balances.

Important Discover Card Features - Discover Cards allow you to download your credit card statements to Quicken and Microsoft's Money. You can also change your statement bill due date to match your other credit cards.

Verdict - I highly recommend the Discover® More® Card because of its great features. You can earn 5% rebates on rotating categories and also from their online shopping partners. Furthermore, you can double the value of your cash rebates by exchanging them for gift certificates of merchant partners.

To fully make use of this card, you have to be vigilant and be on top of things like which merchant is in the Get More Partner in every quarter, and remember to go to online retailers websites via ShopDiscover.com. You should also check and see if you could see yourself exchanging rebates for any of its cash back bonus partners. If you are a bargain hunter and keep track of these things, then the Discover More Card will make a great card for you. If you are looking for the no balance transfer deal (0% Intro APR on Balance Transfer For 12 months), please apply here. Positives