Author: Tim Chen
There are several different versions of the Discover More. This one is middle of the road, in that it has a long 0% purchase APR period and a long 0% balance transfer period. There is also a version of Discover More with an even longer Balance Transfer period
(but shorter purchase APR period).
Which Discover More should I get?
Between the two Discover More versions, we'd go with the long duration balance transfer version if you already carry a balance. In all other situations, go with this one.
But the question is, should you even get Discover More in the first place?
If you carry a balance, or may run up a balance in the future, the Discover More offers better introductory APR terms than either of its main competitors, however if you're only interested in rewards, you should look at a different card.
The tiered rebate structure of the Discover More card makes it appear to lag behind competitors from a rewards perspective. The rewards program is a lot like the Chase Freedom
and the Citibank Dividend Platinum Select
, but it suffers from a tiered base rate, and low caps on quarterly bonus categories.
Worse than your typical rewards card
The "Up to 1% Cash Back" on this card really irks us. You only get a full 1% cash back after you reach $3,000 in spending each year, which is NOT normal for credit cards - typically, even the most basic rewards cards offer you 1% back from the start. On top of that, the card is on the Discover network, which has only about 90% of the merchant acceptance of Visa/MasterCard in the US, and a tiny fraction of that when traveling overseas.
Below is an overview of the cash back structure.
Tiered Cash Back Rebate Calculation:
The cash back rebate is based on annual spending on the card.
Revolving 5% Cash Back Feature
- 0.25% on first $3,000 spent each year
- 1.0% after $3,000 annual spend
- Rebates are unlimited and don't expire
With the Discover More card, you can also enjoy additional 5% cash back rebates on various categories of purchases that change on a quarterly basis. Bonus rewards are capped, with most quarters being capped at $400 of spending, or $20 of extra rewards. Bonus category spending is also not counted toward the $3,000 tier-ing levels on the base rewards rate.
Below is a sample calendar.
- First Quarter: 5% rebates on airlines, hotels, car rentals and cruises
- Second Quarter: Rebates on home and fashion retailers
- Third quarter: Gas, hotels and theme parks
- Fourth quarter: Supermarkets, restaurants and movies
In comparison, the Chase Freedom card caps quarterly rewards at a much higher $1,500 of spending per quarter (or $75 in rewards), and the Citibank Dividend caps all rewards at $300 annually. So the Freedom is generally better for ongoing quarterly categories, and the Dividend is a great choice for one-time big-ticket purchases, where you can earn 5% on a purchase of up to $6,000.
Where the More card really shines is the ShopDiscover.com
portal. When you use ShopDiscover to access more than 100 online retailers, you will receive additional 5-20% cash back bonuses, making it one of the most lucrative online shopping portals available. Check out our breakdown of ShopDiscover rewards
vs its competitors.