More Card - American Flag

This credit card is designed so that the cardholder can redeem cash back rewards for all purchases; using the Get More program and staying up to date with which businesses and locations are featured on the program will enable the user to receive 5% cash back on all purchases and 1% back on all purchases after your annual spending goes over $3000. A graduated rewards program continues after that amount so technically there are no limits to your cash back reward opportunities and these are redeemable in increments of $20.

Although there is no annual fee for this account as with all Discover credit cards, there are other fees that you should be aware of before applying and using the card. These fees with come into play if you are late making payments, if you charge more than your allocated credit, if you make a cash advance or if you make balance transfers.

Late fees are calculated at $15 for any amount up to $500 and $39 for any amount over that; this rate changes after December 1st 2007 to $19 on any amount up to $250 and $39 for any amount over that. Overlimit fees are $15 for amounts up to $500 and $39 for anything exceeding that. Cash advance transfers are charged at 3% per transaction with a $5 minimum and no maximum, with an annual charge at a rate of 23.99%. The APR for this account starts at anywhere from 10.99% to 18.99% depending on your credit history, however if you miss payments and carry your balances forward continually this rate will be increased up to the default 30.99%. If you make regular payments onto the account and clear your purchase balance each month then you will retain the grace period of 25 days without APR being charged; if not then you will end up spending more in interest than is necessary.

Balance transfers will not be charged APR until February 2009 after which time they will be subject to the standard APR. You must request balance transfers to be made before the introductory offer ends December 1st 2007 or they will be refused; these are processed within four weeks and in order of the lowest amount to the highest. The cost of a transfer is charged at 3% with a minimum of $10 and a maximum of $75.

To get the most out of this card you will need to become very familiar with the terms of the cash back rewards and the Get More program.