| Benefits
of Discover Credit Cards
Competitive
Interest Rates
One of the biggest advantages inherent to
the ownership of a Discover Credit Card is the fact that Discover seems to have
really gone out of their way in order to offer competitive interest rates to
the people that use their cards. Even
students, who normally shouldn’t be expecting particularly amazing interest
rates, are given the competitive interest rates that the other customers of
Discover get. If you have a good credit
rating, then you can expect to have an interest rate as low as 10.99% and in
some cases even lower into a single digit interest rate. Even if you have bad credit, it is very rare
that interest rates go above 18.99% for purchases.
Competitive
Fee Structures
In the modern age of credit cards, it has
become very common place for credit card companies to actually standardize
their fees over the vast majority of their credit cards. The once exception to this rule is usually
going to be the annual fee, simply because the primary method for credit card
companies to make sure they break even on things like reward programs is to
simply increase the annual fee. However,
usually all of the other fees attached to the credit cards are standardized and
this is just as true for Discover as it is for other credit card companies.
You will find that the typical rate for
percentage based fees is 3%; a rate that is very competitive in the industry
today. Furthermore, some Discover credit
cards even have maximum amounts placed on the fees (for example, a particular
Discover card might have a 3% balance transfer fee, with a maximum fee of $75)
so that if you need to order a big balance for some reason, you are not
penalized for it. This is something that
very few other credit card companies do and therefore it is definitely worth
pointing out.
Cash
Back Rewards Program
It has become very popular in the market of
credit cards nowadays for a company to have a defining aspect. A lot of companies have this and the defining
aspect for Discover could very well be the absolutely amazing cash back rewards
program that they offer. It is known as
the Discover Get More program and under the program you can actually get up to
5% cash back on any of the purchases that you make.
What is even more amazing about this
particular benefit of Discover Credit Cards is that the bonuses that people get
from their credit cards are actually cumulative with the bonuses that they can
get from membership in the Get More program and therefore it is possible to get
up to 6% cash back on certain purchases that a person could make on their
Discover credit card each year. This is
definitely Discover’s signature aspect at the current moment in time.
Accessibility
Up until now, the benefits that have been
discussed were very tangible. Whether
the interest rates, the fees, or the rewards, the benefits of dealing with
Discover are very real and very viewable on your monthly statement. However, there is one specific benefit of a
Discover credit card that is not really that tangible simply because it is
something that applies to the company itself, rather than to the specifics of
credit cards given out by that company.
Discover has made a very real effort to
make sure that their best programs are available to as many customers as
possible. This is evidenced by the fact
that people that are in possession of student credit cards are able to join the
Get More program. A student with no
previous credit being able to join a very lucrative program is something that
is very much unique in the credit card world and is something that is
definitely a credit to Discover. But it
isn’t just students; even people with poor credit are given the chance to get
benefits they would not be able to get from other credit card companies. |
