Discover Motiva Card Review
Editor’s Note: Thank you for your interest, this offer expired and is no longer available.
Most credit cards offered to consumers today are built the same way. Provide a mediocre interest rate with a 1% cash back rewards program and a couple of perks and you have 99% of the market covered. The challenge lately has been finding a credit card offer that goes beyond “state of the art” and offers something innovative. The Discover® Motiva Card is one card going beyond the typical 1% cash back rewards. The Discover® Motiva Card offers rewards and perks not typically found elsewhere, including monthly discounts on interest charges.
The Discover® Motiva Card includes a lengthy 0% introductory APR for 14 months on both purchases and on balance transfers*. After the introductory period, purchase and balance transfer APR’s will vary with the market based on the Prime Rate, and is currently between 10.99% to 20.99% variable,* depending on your credit history. The fee for balance transfers is 3%.
The Discover® Motiva Card presents a unique rewards program. The first part of this cash back rewards program is typical. When you make any purchase, you earn cash back on a tiered system, based on the amount of your total annual spending.
- 0.25% cash back on spending up to $3,000 annually
- 1.00% cash back on spending above $3,000 annually
This means that your first $3,000 in purchases will not receive the full 1% cash back each year, which is similar to the rewards program the Discover® More Card offers. The cash back you receive with the Discover® Motiva Card never expires.
The second method of earning cash back is by paying your credit card bill on time. Every month you pay your bill before the due date, Discover may add more cash back. 5% of your interest charge may be added to your bonus. For example, if you were charged $50 in interest for a particular month, and that payment is made on time, you’ll receive $2.50 cash back. Essentially, this is a 5% reduction in your current interest rate.
This is an innovative approach, but the deal is not that enticing — particularly for credit card users who pay their bills in full every month and never pay interest charges. Even for those who do carry a balance and pay interest, a 5% bonus on an interest payment is not going to amount to much unless the card is used to finance major purchases — an approach one would prefer to take with a card that offers a 0% introductory APR.
At least there is no annual fee* to use this card.
You might not be blown away by the rewards program offered by the Discover® Motiva Card, but most cardholders will carry a balance from month to month. This card helps to reduce interest expenses every month while offering an introductory term and mediocre cash back rewards program. For anyone looking to bring a good credit score to excellent while unable to qualify for a better offer, the Discover® Motiva Card might be the right choice.
Article comments
I am not sure that Discover is accepted in enough places, even still, to justify getting any of their cards. For me, to spend $3k on their card to get the biggest cash back reward would be a stretch. I’d have to find places to use it, which could lead to unnecessary purchases. That isn’t good money management. Maybe I’m not looking hard enough, but I just don’t see the Discover logo in that many places anymore.
this has, in some ways, been my experience. it is accepted in most places, but there are still a few places where i would like to use my discover card that i can not. if one is looking to maximize their rewards this certainly can be an issue.
This card doesn’t offer anything that really strikes me… the beginning interest rate isn’t bad, and I also like that it doesn’t have an annual fee (but many cards don’t!).
The only good credit card is one that is used out of necessity, and paid off each month. I use a card only when it is necessary (i.e. for a travel hotel room, meals, rental car, etc.) and promptly pay it off. You cannot write off credit card interest on taxes so any interest paid is just a big waste of money that could otherwise be used for something better.