Discover® Student Open Road Card: Cash Back For Students

Here is one credit card parents might actually want to give to their college student children. Unlike some other credit cards aimed at students this card does give rebates and it has a pretty good interest rate.

Discover Rewards
The best feature on the Discover Open Road Card for Students is the rebate for gas and other auto expenses. Students can earn up to 5% back when they purchase gas or use the card to pay for card repairs. This makes it a great card for students who have a car with them on campus.

It also provides cash rebates at the standard discover rates for other purchases. A person will get .25% cash back for purchases up to $1,500, .50% cash back for up to $3,000 in purchases and 1% cash back for purchases over $3,000. The problem with this program is that it is doubtful that a college student will make that many purchases.

The bonuses will be redeemed through the Discover rewards program. This pays the student back in $20 increments. Students will also be able to earn a double cash back reward when shopping at merchants at Discover rewards partners. Double cash back rewards maybe available at all gas stations and restaurants.

APR
The APR on the Discover Open Road Card for Students is actually pretty good. The variable purchase APR is 11.9%-19.99% which is actually pretty low. There is also 0% purchase APR available for nine to twelve months.

The Discover Open Road Card for Students would be a great card for students who want to keep their payments road. It’d also be a pretty good introductory card. Especially for students who don’t use the card that much.

The cash advance APR is a little high at 23.99% this could hit students who use the card as an emergency source of cash hard. The balance transfer rate ranges from 16.99% to 24.99% for purchases and 28.9% for transferring cash advances. So students could save money by transferring balances to the Discover Open Road Card for Students.

Drawbacks
The biggest drawback to the Discover Card as anybody who has ever used one finds out is that it is not accepted everywhere. Many smaller businesses don’t accept it and neither do some of the major national chains.

It might not be possible for a student to use this card on campus or at the corner bar. That of course may not be a bad thing for mom and dad.

Shop Discover
Discover rewards and the Discover Open Road Card Students can also be used at Discover’s Shop Discover website. This is an online store with icons for a lot of different products on it. Persons who click on the icons will be able to shop for various products and get 5% to 20% back when they use their card.

Since almost all the major national retailers and many brands are represented here this could be a pretty good deal for students. Especially for students who may not be able to get to big retailers.

All in all the Discover Open Road for Students Card is not a bad deal for students who can afford.

• 5% to 20% Cashback Bonus through ShopDiscover, our exclusive online shopping mall
• Up to 1% unlimited Cashback Bonus on all other purchases automatically
• No annual fee

Click HERE to learn more about the Discover® Student Open Road Card

Discover® More® Card: The Best Cash Back Card

The Discover More Card is the new name for Discover’s Platinum Card. The best thing about the Discover More Card is that it probably gives you more cash back than any other card out there.

Cash Back Rebate
There’s a long list of things that you can get cash back on using the Discover More Card. These include hotels rooms, airline tickets, department stores, cruise ship tickets, gas for your car, clothing, DVD rentals, theme park tickets, books, groceries, meals at restaurants and even tickets to the zoo. All of these items can theoretically get you 5% cash back if you use Discover More.

If that wasn’t enough of an incentive to switch to the Discover More Card a person can also get between 5% and 20% cash back by using Discover More to make purchases from select online retailers. These include Old Navy Clothes and Dell Computers among others.

To get these rebates you will have to go to the Shop Discover Card website. This is a pretty good deal for a person who does a lot of online shopping. It might not be so good for somebody wants to shop elsewhere.

The good thing about the shop Discover Card website is that it dose have links to dozens of retailers ranging from Omaha Steaks to Target. It looks like it would be fun but a little confusing.

Rebate Formula
A big drawback to the Discover More Card is the complicated rebate formula. Just trying to figure it out can drive a card holder crazy. The tiered reward formula gives a person .25% back for the first $1,500 in purchases made with the card, .50% back for the second $1,500 in purchases made with the card and 1% back if you make more than $3,000 worth of purchases.

To make things more complicated there’s a 5% back rotating rebate on various purchases. This rebate rotates every quarter (every three months) of the year. In the first quarter could earn a 5% rebate on department store purchases while you could earn 5% rebates on travel in the second quarter.

This formula could confuse and frustrate a lot of consumers. A cardholder could think he or she is getting a rebate when they won’t get a rebate under this.

Balance Transfer Deals
The Discover More Card has some pretty great balance transfer deals available as well. Discover is currently offering 0% APR for 15 months for those who move a balance transfer to a Discover More Card. When combined with the rebates this could be a pretty good deal for card holders.
Another benefit to Discover More is that it has no annual fee. This is certainly a better deal for middle class card holders than the American Express Platinum Card.

An equally appealing feature is the 25 day grace period for purchases. This means you have 25 days to pay purchases off before interest starts accruing. This can enable a person to put purchases on the card and work towards getting a rebate.

For those who are willing to work out the rebates, Discover More is a pretty good deal. Those who want a basic no frills credit card with no gimmicks might be well advised to look elsewhere.

• 5% to 20% Cashback Bonus at over 150 top retailers through our online shopping mall
• Unlimited cash rewards that never expire
• Turn your Cashback Bonus into bigger rewards every time you redeem for gift cards or instant eCertificates from over 100 brand-name Partners
• Flexible redemption options with no redemption fee. Choose from Partner gift cards, merchandise, Discover gift cards, credit to your Discover card account or an electronic deposit to your bank account

Click HERE for full details on Discover® More® Card

Don’t Carry A Balance: Payoff Your Credit Card Bill

Surveys shows 50 percent of credit cardholders don’t pay their bills in full or on time. More than 40 percent of credit cardholders say they don’t know the interest rate on their cards. Suppose you carry a $1000 balance from month to month. That costs you $180 in interest a year if you have a credit card with no annual fee and an 18 percent interest rate. But many credit cards do have annual fees, especially the gold cards with the enticing travel rewards. You’ll be astounded at what you pay once you factor in the fees.

You’re fooling yourself when you slice and dice your debt onto several credit cards. Better to have everything in one credit card, so you know exactly what you owe. You’ll have an easier time monitoring your indebtedness and not letting it get out of control.

Here are some signs of credit card trouble:

1. You’re making only the minimum payments on your accounts.

2. You’re missing payments or due dates.

3. You’re near the credit limit on most of your cards.

3. You’re borrowing from one card to pay another.

4. You don’t know how much you owe.

5.You worry a lot about money.

6. You use credit cards to meet your weekly or monthly living expenses.

7. You transfer balances from one low-rate card to another every few months, just before the introductory offer expires.

It’s time to address your financial problems if you recognize some of these patterns in your own life. Here’s a six-step program to help you get out of the trouble.

1. Be honest with yourself. Do a complete analysis of all your debts, the interest rates and terms.

2. Decide how much money you can use to pay off debt each month.

3. If there is a shortfall, consider getting a consolidation loan or line of credit at a lower rate.

4. Consider selling investments to pay off high-rate debt. If you own a house, bump up your mortgage at renewal time.

5. Pay the minimum amount on each card. Use what’s left to pay off the card with the highest rate.

6. Don’t use the cards any more. Cut them up or put them into a box.

Buying everything with cash, checks or no-overdraft debit cards forces you to confront the fact you can’t afford something. With a credit card, you can always afford it.

Provided by FreeCreditAdvice.info

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