Review, compare, and apply for the best credit card offers online. Each credit card on our site is hand-picked by our researchers. Questions? Discover® Motiva Card
By Arrive Financial Staff on Jan 28, 2008 in Balance Transfer Credit Cards, Discover Credit Cards, Editor's Picks
- Editor’s Pick: Balance Transfers (Tie) - We love that when you transfer a balance to the Motiva(SM) Card, you won’t just get a great 3.9% rate on balance transfers for 12 months, but even better, twice a year you are eligible to get a pay-on-time bonus equal to one month’s interest. You also get:
» 5-20% Cashback Bonus at top retailers through Discover’s exclusive online shopping site
» Up to 1% Cashback on all other purchases automatically
» More ways to earn cash than anyone else
» Unlimited cash rewards
» Increase, even double, your rewards when you redeem for gift cards from 80+ Partners
» Intro APR is 0% for 12 months on balance transfers and 0% for 6 months on purchases
Making its debut in the Spring of 2007, the Discover® Motiva credit card is truly unique among American credit cards in that its rewards structure is based on finance charge rebates.
The interest rebates, combined with an aggressive introductory balance transfer offer (3.9% for 12 months), make it an excellent card choice for borrowers looking to pay off an existing credit card debt as inexpensively as possible.
For example, a borrower with a $5,000 credit card balance on a credit card with an 18% APR making minimum payments would save $650 a year by transferring a balance to the Motiva Card, and that’s before the interest rebates.
The Motiva Card gives card members one month of no finance charges for every six months the card member makes on-time payments. This could bring the first-year savings on a $5,000 credit card balance to approximately $690.
In addition to Motva’s unique rewards program, our reviews of Discover’s customer-service, online account management, and fraud prevention and security measures have been excellent.
Acceptance Rate
The Discover® Motiva Card is selective, however, applicants with average credit scores may be approved. Applicants with below-average credit cards will most likely not be approved.
Applicants with FICO credit scores above 700 are usually accepted; applicants with FICO credit scores between 650 and 700 may be accepted depending on your credit usage, history, and income. Don’t know your score? Get it free now.
Applicants with FICO credit scores below 640 may only be accepted if you have a high income and low credit utilization and your recent credit history shows substantial improvement.
Apply for a Discover Motiva Card Now »
Customer Reviews
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On Dec 7, 2007, Jon Dryer said:
I got the Motiva card two months ago to transfer an $8k balance I was paying like 18% on.
The balance transfer was easy, though there was a fee, I can’t remember exactly what it came to but it was like 2 or 3 percent.
I’m looking forward to the Motva card intrest rebates though as that should save me about $300 a year and get the card paid off quicker.
On Feb 11, 2008, lizzy84 said:
This card is great. I also got a pretty high limit that allowed me to transfer all of my other balances. I’m looking forward to my first intrest rebate!