Should I get a Discover card?

[beatle]

I already have a Visa and Mastercard, but I never use the Mastercard. Visa is accepted everywhere I want to shop (except Sam's Club) so it's easy for me to keep track of all my purchases on one card. I have a high enough limit on it that I'd never reach it unless there was a terrible emergency.

The bank, MBNA, has been good to me. I've occasionally missed a payment by a couple days (happened 2-3 times in about 6 1/2 years) and called to pay it in full (as always) and they've waived the interest and late payment fees. I really have no problem with the bank, but I'm not getting any perks.

I know Discover isn't accepted as many places, but how well is it covered? I'd still keep my Visa and MC just in case, but I can't stand multiple bills, so I'd like for it to happen very infrequently. Let it be said that if I can put something on my credit card, I will: bills, food, gas, online, etc.

Interest rates are a moot point for the most part, since I never use the card for "credit." Is there anything else I need to know about Discover before submitting an application? Any recommended cards I should look into? I'm not a traveller and I don't spend much on gasoline, so it looks like the regular platinum card would be good for me.

 

[Riverhound777]

I got one, works fine for me. Only been denied one time (kirkwood ski resort). Doesn't really have too many perks that i've seen. It has cash back, but i've gotten a whole $2.50 maybe after i've spent probably $1500 on it. Maybe if you buy a car or something it would be noticable, but i dunno. Doesn't hurt though either. I also have a VISA just in case, and I dont carry a credit on it either.

 

[geckojohn]

I wouldn't. It frowned upon at many stores and isn't accepted at most places. I'm surprised that they're still in business.

 

[dxkj]

Don't listen to these people unless they actually have one.


I have had a Discover card for a few years. The newer one is 1% cashback and 5% cashback on gas purchases. Plus you can redeem the $ at certain stores and it doubles (giving you 2%and 10% respectively)

I wouldn't. It frowned upon at many stores and isn't accepted at most places. I'm surprised that they're still in business.

There are a handful of places that don't accept it, but a majority of them do (at least in my experience). I live in Illinois. I would recommend getting one, and using it whenever you can. After all, it won't hurt to have an extra card.

 

[beatle]

$2.50 after spending $1500? That's like 0.17%!

Are there any hidden fees associated with the card?

The page says this:

Annual Fee: NONE
Minimum Finance Charge: $0.50

What is the finance charge? It sounds like a minimum amount of interest per billing cycle if your balance is not paid in full. Am I right?

 

[beatle]

Originally posted by: dxkj
Don't listen to these people unless they actually have one.

I have had a Discover card for a few years. The newer one is 1% cashback and 5% cashback on gas purchases. Plus you can redeem the $ at certain stores and it doubles (giving you 2%and 10% respectively)

That sounds good. When comparing the Cashback Bonus Plus card and the Platinum card, I don't see any advantages to Platinum (other than the name, which I don't care about).

The Discover Gold card looks nice, as it appears to pay a fixed 1% rate regardless of your purchases. Since I put nearly everything on my card, this could be a decent chunk of change! I guess the only question would be if most of my purchases will be worth more than 1% if doubled (and I want to use the money at one of their partner's businesses).

 

[Riverhound777]

Sorry my total bonus is $3.22. I've spent $1100. 16% interet rate, but i never do so it doesn't matter to me. no anual fees or any of that stuff. No finance charges

 

[beatle]

0.29% still seems like a low payout. I wonder what the really juicy charges are that actually give you 1% of your purchase.

 

[Ranger X]

Don't get a Discover Card. It isn't accepted at many retail stores and the card is often denied on on-line purchases as well. If you want to get a Discover Card for the cash back bonus, sign up for Citibank Dividend or other credit cards (Visa or MC) that give back money on all your purchases.

 

[beatle]

Hmm, it seems that even MBNA has cards with rewards: WorldPoints

 

[SweetSweetLeroyBrown]

the only major retailer that I know of that doesn't accept Discover is Macy's