Okay, if you were to ask me – Sue, out of all the choices available of credit cards, which one do you recommend? First of all, if you aren’t going to pay a balance off in a month or two – don’t get one. For what it will cost you in interest fees, you aren’t saving a dime…you’re paying out through the nose for those purchases. That’s the first thing I would say to you. The next thing I would say, look into the Discover More Credit Card.
The Discover More Card has an interest rate of 10.9% – 20.9% depending on your credit worthiness. However, since you’re not going to carry a balance you won’t need to worry about the the interest being charged, but you will GAIN money in your pocket throughout the year on purchases…5% cash back to be exact.
The card works like this:
- No Annual Fee
- Cashback Bonus – Fast. Easy. All year long.
- From January through March, cardmembers can sign up to earn 5% Cashback Bonus on up to $1,500 in purchases at gas stations, at museums and on movies-and get back up to $75.
- From April through June, cardmembers can sign up to earn 5% Cashback Bonus on up to $1,500 in purchases at restaurants and on movies-and get back up to $75.
- From July through September, cardmembers can sign up to earn 5% Cashback Bonus on purchases at gas stations, on movies and at theme parks. Additional program details including limitations on the amount you could earn coming soon.
- From October through December, cardmembers can sign up to earn 5% Cashback Bonus on purchases at department stores, at electronics stores, at toy stores, and on movies. Additional program details including limitations on the amount you could earn coming soon.
- After $3000 of total annual purchases – you’ll earn 1% cash back.
- You need to sign up for each cashback session they offer – so you’ll need to pay attention to your emails or statements so you’ll remember to do so.
How can you score big?
According to their Terms of Service there’s nothing stopping you from shopping through an online cash back website and then putting that purchase on this card. You’ve now got up to double, if not even more, depending on the cash back site you go through, in cash back. In addition, if the site you’re shopping at has double cash back that day, that’s a bigger cash back coming to you. Oh…lets not forget, if the item you’re purchasing is on sale – you’ve scored the sale price too! Now when the statement comes in, pay it off with a bank debit/credit card that offers rewards – you’ve now saved three (four if you bought on sale items) times over.
Personally, I would save my majority of purchases for the summers months (most theme park tickets can be purchased online) and for the Christmas season where after $3000 in purchases one only reaps 1% cash back.
ChaChing – I see the savings adding up! Sign up is simple – it can be done online – here. I’ve applied for several credit cards online with no problems what-so-ever. The Discover More Application site is a secure site – it has the ‘s’ at the end of ‘http’ in the address bar :).