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Card Comparison: Discover Miles Rewards Credit Cards

brady — Sun, 26 Jul 2009 14:39:15 +0000

This post compares Discover cards that reward miles for everyday purchases. Both cards have their pros and cons, for your convenience to find them, I highlighted the relative benefits in green, and drawbacks in red.

Discover® Miles Card

Requirements: Excellent Credit, No Annual Fee; Regular APR: 29.99%.
Intro Benefits: Earn 1,000 bonus miles each calendar month you make a purchase for a total of 12,000 bonus miles your first year. 0% on Purchases and Balance transfer for first 6 months.
Regular Benefits: Double Miles on up to $3,000 in travel and restaurant purchases each year. 1 mile for every $1 on all your other purchases

Escape by Discover® Card

Requirements: Excellent Credit, $60 Annual Fee; Regular APR: 11.99 – 18.99%.
Intro Benefits: Cardholders will receive 1,000 bonus miles every month they make a purchase during the first 25 months of opening an account. 0% on Purchases and Balance transfer for first 6 months.
Regular Benefits: 2 miles for every $1 on all your purchases. Earn two additional miles for every dollar you spend through the ShopDiscover online shopping site.

Card Comparison: 5% Cash Back on Home Improvement with Discover Card’s Rewards Program

brady — Thu, 23 Apr 2009 00:57:28 +0000

Discover Card’s just rolled out a new cashback bonus program: 5% cash back for home improvement purchases made between now and June 30, 2009.

The purchases that qualifies for 5% rewards are (buying new clothes is also improving your home, that’s a new concept):

Home improvement Stores
Department Stores
Clothing Stores

The up limit of the cash back rewards is $20, which means you get 5% cash back rewards only in the first $400 purchase in the above categories, the rest of purchases may be subject to a lower cash back ratio, most likely 1%.

Here is the card that can earn the 5% cash back on Home Improvement:

	Card Name	Benefits	Requirements
	Discover® More Card	0% BT APR for 12 mths; 0% purch APR for 6 mths; 1% – 5% cash rewards	requires Excellent Credit; regular APR: 10.99%; annual fee: none

Card Comparison: Business Credit Cards – November 2008

brady — Sun, 02 Nov 2008 22:57:59 +0000

In this post, I compare business credit cards which represent a fast growing segment in credit card industry, the reason for fast growth is its popularity. As I pointed out in the q&a, individuals without a business are eligible to apply for a business credit cards, so you don’t need to worry about your eligibility, it’s ok for you to consider them the same as consumer credit cards. The way I compare business credit cards is to break all cards down to major categories of benefits:

Point Rewards Cards

	Card Name	Requirements	Benefits
	Advanta Why Wait Business World MasterCard	requires Excellent/Good Credit, Regular APR: 16.99%, Annual Fee: None	Reward: 1 – 1.5 Point/$, Sign-on Bonus: up to 200,000 WhyWait^SM Rewards Points

Card Comparison: Discover Reward Credit Cards

brady — Sun, 03 Aug 2008 20:40:43 +0000

In the previous post, I listed a couple of gas rewards credit cards and ranked them based on rewards generosity. At top of that list, you find Discover Open Road Credit Card. In fact, Discover offers two types of Open Road credit cards: one for consumer, the other for students. This article will dive deeper into the details of what these cards offer to customers by some Q and A.

There is a rumor that Discover Student Cards all offer 5% gas reward, unfortunately, it’s wrong, only Discover Student Open Road card does that. There is another rumor that only Discover Open Road for Student card offers 5% gas reward, fortunately, this is wrong again, since both Discover Open Road cards offer 5% gas reward. There is even better news, just as its name implies, Open Road card series not only reward 5% for gas purchases, but also reward the same percentage for auto repairs. This is extremely useful since many people didn’t notice, but it’s true that auto repair accounts the highest among their annual expense categories, usually gas ranks the second. Therefore Discover Open Road series card do offer great benefit for average consumers.

Here is a more detailed comparison of various Discover rewards credit cards including both Open Road cards:

Card Name	Rewards	Rates
The Discover® Open Road^SM Card for Students	5% cash back on gas and auto services ($100 gas spending limit per month), requires Good Credit	Regular: 14.99%, Intro Purch: 0% for 6 mths, Intro BT: None
Discover Open Road Card for Consumers	5% cash back on gas and auto services ($100 gas spending limit per month), requires Excellent Credit	Regular: 10.99% – 18.99%, Intro Purch: 0% for 6 mths, Intro BT: 0% for 12 mths
Discover® Student Card	5% Cashback Bonus on category purchases, requires Good Credit	Regular: 14.99%, Intro Purch: 0% for 6 mths, Intro BT: None

Card Comparison: Gas Rewards Credit Cards – July 2008

brady — Mon, 28 Jul 2008 00:58:48 +0000

Crude oil price dramatically dropped on July 15th, national average gasoline price dropped favorably below $4. Don’t forget the reason for this drop is the perception of sharply decreased demand from developed world, especially US, for gasoline, which means as price goes down, the demand could go up easily, and hence this drop will not last long.

So what are news with gas credit cards? American Express dropped their cash rewards rate for SimplyCash card from 5% to 3%, and therefore the card slipped down from our top pick; as a result, our top two cards are: Discover Open Road for Student Card and TrueEarnings Business Card from American Express, both rewards 5% cash back for gas purchases, there are some limitations to these two cards: Discover has $100 monthly gas purchase limit, so you can’t spend more than $5 on gas rewards per month (Some people might ask what’s the difference between Discover Student Card and Discover Open Road card, this topic will be discussed in future posts.); TrueEarnings card is a business card, but you can apply even if you do not own a business, since you can apply as a “Sole Proprietorship”, what’s more, to apply for the card, you need to have Costco membership. For Costco members, American Express card is a good choice, since it doesn’t have gas purchase limits similar to Discover card does.

In the next tier of 3% cash rewards cards, Chase Freedom stands out with no annual fee, 15 categories of spending that are qualified for 3% rewards including gas purchase.

For Consumers…

Card Name	Reward on each $1 spent on gas	Regular APR
Chase Freedom^SM Credit Card	3% cash back	14.99%
TrueEarnings® Card from Costco and American Express	3% cash back (requires Costco membership)	15.99%
Capital One® No Hassle Miles^SM Rewards For Travel & Gas	3 miles	13.99%
Capital One® No Hassle Points^SM Rewards	5 points ($29 annual fee)	16.99%
The Chase® PerfectCard^TM (Gas Rebate Credit Card)	3% cash back (6% for first 90 days)	10.99%
BP Visa® Rewards Card	5% cash back on BP purchases (10% for the first 60 days)	11.99%
Citi® Dividend Platinum Select® MasterCard	2% cash back (5% for first 6 months)	10.99%
Capital One® No Hassle Points^SM Rewards	2 points	16.90%
Citi® Diamond Preferred® Rewards Card	1 point (5 points for first 12 months)	10.49%
Citi® Professional(SM) Card with ThankYou(SM) Network	3 ThankYou Points	10.99%
Discover® Open Road Card	5% cash back ($100 gas spending limit per month)	10.99%

For Students…

Card Name	Reward on each $1 spent on gas	Regular APR
The Discover® Open Road^SM Card for Students	5% cash back ($100 gas spending limit per month)	16.99%
Citi® Driver’s Edge® Card for College Students	3% cash back	14.99%
Discover® Student Card	5% cash back	16.99%

For Businesses…

Card Name	Reward on each $1 spent on gas	Regular APR
TrueEarnings® Business Card from Costco and American Express	5% cash back (requires Costco membership)	15.99%
Chase Business Rebate Visa® Card	3% cash back	10.99%
American Express SimplyCash® Business Credit Card	3% cash back	5.25%
Discover® Business Card	2% cash back	13.99%
Discover® Business Miles Card	2 miles	13.99%

College Fund Rewards Credit Card

brady — Sun, 15 Jun 2008 23:21:43 +0000

Among the credit cards with rewards, there is one credit card that is tied to 529 plan. For families with children, this card appear to be no-brainer deal. Use this card instead of cash to pay all your purchases, the rewards will drop into your 529 college savings account.

The Citi Upromise Card offers a 1-percent rebate on general purchases, with an annual rebate cap of $300. When used at certain retail locations, however, the rebate is boosted to 2 percent (Exxon or Mobil stations) or 10 percent (grocery and drug stores) with no annual caps. The card can be linked to any of the 529 plans managed by Upromise Investments Inc. (New York’s college savings program being the largest).

Poll: Best Cash Back Credit Card

brady — Mon, 31 Mar 2008 01:24:20 +0000

The following cash back credit cards feature reward programs that offer cash back or rebate incentives. A Cash Back Credit Card rewards you for using them with cash back incentives and rebate programs. Credit cards with cash rebates and incentives usually require a good to excellent credit rating for approval. Pick the best credit card in your opinion and leave feedback to let us know why you make that choice.

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.

Poll: Best Credit Card that Reward Cash for Gas Purchases

brady — Sun, 30 Mar 2008 21:18:15 +0000

As gas price skyrockets, one way to tackle this problem is to get a gas rebate credit card in your pocket. Here I compare the best gas rebate credit cards from major banks. Discover Open Road card and American Express SimplyCash Business card both offer a 5% cash back reward on gas purchases, but Discover Open Road card sets $100 per month, $1200 per year limit on gas purchases that are eligible to 5% reward, so we pick SimplyCash card as the top choice since it remains the only card that offers 5% reward for unlimited gas purchases. Although it’s a business card, individuals could apply for it as a sole proprietor.

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.