For years, we’ve come to rely on Discover for its wide array of credit cards. Seems as though no matter the need, Discover has the right solution. One of its newer credit cards is the Discover Escape and it is certainly one of its most impressive offers we’ve seen in quite some time – from any credit card network. Keep reading for the breakdown on this rewards credit card by Discover.
The Many Benefits
There is definitely no shortage on the perks in this offer. Your first six months are interest fee and that includes balance transfers. After the introductory period lapses, your regular APR will fall somewhere between 10.99% and 16.99%, which is quite competitive in the current market. The one exception to that range are those consumers whose credit might not be as strong as it could be; these consumers could find themselves paying a bit more in interest rates.
Another benefit you’ll likely find impressive is the 25,000 Bonus Miles. This works by allowing 1,000 miles for each month you make any kind of purchase on your Discover credit card. It’s only applicable for the first twenty five months after opening your account. If you make a purchase twelve months out of the first twenty five, you’ll earn 12,000 miles.
Also, you’ll enjoy two miles for every dollar you spend on purchases and they can be converted easily into cash, travel or even gift cards. Shop through the Discover online shopping mall and you’ll receive two additional miles for each dollar spent. There’s no need to worry which airline or hotel chain will accept your rewards points since there are no restrictions on where you book. No limits and no expiration dates round out your rewards program.
One thing Discover is well known for, along with its versatile product lines, is its customer service. While this might not seem like a perk, if you’ve ever experienced bad customer service, you can appreciate the importance of an industry leading support team. With 85% of American households using credit cards with rewards programs, the customer service becomes that much more important.
Card carriers are also afforded zero fraud liability, lost luggage insurance, auto rental insurance and even travel delay insurance. Pay your bills online quickly and easily; and if your due date comes and goes without a payment, Discover sends an email reminding you of the potential for late fees. Throughout the remainder of 2011, Discover is running a daily “Everyday Giveaway” program. Each time you use your Discover Card, you’re entered into its contest that has at least 75 winners each day and your name is entered into its end of the year drawing that boasts a $1 million giveaway.
While many rewards credit cards will require excellent credit, this particular Discover offer will accept good credit as well. Current card holders say this particular rewards program allows them to reap many benefits not offered with other credit card networks.
The Flip Side
The Flip Side
Clearly the benefits are many, but there are the less than ideal considerations, too. There is an annual fee associated with the Discover Escape card, which is $60.00. Miss a payment date or go over your credit limit and you will see a $39 fee tacked on each time that happens. Also, if you pull a cash advance from your Discover, the APR on that is 23.99% and the cash advance fee is calculated at 3%.
It can take up to six weeks to receive gift cards if that’s what you use your rewards points for, so you’ll want to keep that in mind.
Remember that if this particular credit card offer doesn’t quite meet your unique needs, Discover has many other programs, one of which is sure to meet your needs. Discover offers small business credit cards, gas rewards cards and other universal offerings.
Don’t forget the importance of carefully reading any terms and conditions associated with any credit card offer. Not doing so can find you dissatisfied with your choice.
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