Discover announced today changes to three of their popular cards: Discover® More Card, Discover® More Card – Black and Discover® More Card – $75 Cashback Bonus. Cardmembers should be happy with the updates and those seeking a rewards card might want to take a second look at what Discover has to offer. These changes will certainly make the Discover cards more appealing and will compete with some of the other rewards cards on the market. All the changes and updates to the cards are effective today October 1, 2010.
Discover More Card
The Discover More Card has increased the duration for balance transfers to a full 18 months. As a result, the balance transfer fee is has now changed to 5%. The regular Variable APR for both purchases and balance transfers has now changed to 13.99%-20.99%. Here’s a summary of the features the card now offers:
- 0% intro APR on balance transfers for a full 18 months, then the Regular APR
- 0% intro APR on purchases for a full 6 months, then the Regular APR
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- Up to 1% unlimited Cashback Bonus on all other purchases
- No Annual Fee
Discover More – Black Card
The Discover More – Black Card introductory period for purchases has now changed to a full 12 months. In addition, the regular APR for both purchases and balance transfers has been changed to the variable rate of 12.99% – 20.99% based on your creditworthiness. Here is a summary of the benefits of the card:
- 0% intro APR on purchases and balance transfers for a full 12 months, then the Regular APR
- 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- Up to 1% unlimited Cashback Bonus on all other purchases
- No Annual Fee
Discover® More Card – $75 Cashback Bonus
The Discover® More Card – $75 Cashback Bonus will now be changing its name to the Discover More – $100 Cashback Bonus. You now get an extra $25 bonus, totaling $100 when you make $500 in purchases within 3 months. The balance transfer fee is now a flat 3% of the amount you transfer. Here is a summary of what the card now offers:
- 0% intro APR on balance transfers for a full 12 months, then the Regular APR
- 0% intro APR on purchases for a full 6 months, then the Regular APR
- Get $100 Cashback Bonus when you make $500 in purchases within 3 months
- 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- Up to 1% unlimited Cashback Bonus on all other purchases
- No Annual Fee
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