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Monday, 25 June 2012

Zero Percent Credit Cards With No Balance Transfer Fee

Discover - Credit Card With No Balance Transfer Fee

Discover More Card offers a no balance transfer fee on top of a 0% introductory APR for the first year and cash back on most purchases, so you may actually save yourself more money than you think.

New qualifying Discover More customers can transfer any of their high interest balances to their Discover More Card fee free. This could translate to a savings of $250 or more on balances $5000 and up - plus you won't pay any interest on the balances you transfer if you pay them off within the first year. This could potentially save you hundreds of dollars on those balances depending on your former interest rates. Combine those savings with the cash back you can earn on nearly every purchase you make, and the fact that there is no annual fee to use this card, and you could be on the road to financial success in no time.

Although the fee free balance transfer is a limited-time promotion, there are still many other features to love about the Discover More Card:

No Annual Fee

Being a Discover card holder has never been better, especially since you can enjoy every perk the Discover More Card has to offer without paying a dime to do so.

0% Introductory APR on All Purchases For an Entire Year.

All your purchases for the first 12 months will be interest free. After that, your interest rate will fall between 11.99% - 20.99% depending on your creditworthiness. As with any credit card, if you miss any payments your 0% introductory APR will be forfeit and your APR could jump to between 16.99% - 25.99% and be applied to both new purchases and balance transfers on your account.

5% Cash Back Rewards All Year Long in Rotating Categories

The Discover More Card offers multiple ways for you to earn rewards, one of which is through their 5% cash back rotating categories. For example, from January - March you can earn "cash back rewards on up to $800 on your travel and restaurant purchases." The rest are as follows:
  • March - Grocery and Drug Stores
  • Apr-Jun - Home and Fashion
  • Jul-Sep - Gas, Hotels, Movies and Theme Parks
  • Oct-Dec - Restaurants and Fashion
Throughout the year the program categories change, allowing you to earn rewards where you shop the most, so remember to enroll every quarter to earn your extra cash back rewards. You should note that once you hit the 5% rewards cap that is set for each category, any additional purchases within those categories are earned at 1%.

5% - 20% earnings with ShopDiscover

Once you are a Discover card holder, simply login to your account and use the search portal to find participating retailers. Every purchase will earn you between 5% - 20% cash back rewards, deposited directly to you account.

Unlimited 1% Cash Back on Everything Else.

For all the other purchases you make with your Discover More Card, you can earn a full 1% cash back; as long as your total annual purchases exceed $3000. Your purchases up to $3000 will earn only. 25% cash back, and any eligible 5% cash back purchases and "warehouse" purchases will not count toward your annual purchases. This is definitely one of the largest drawbacks to this otherwise exceptional credit card, but there are ways you can exceed the $3000 minimum purchase limit. In addition to using your card everywhere you shop, pay things like your utility, cable, or phone bill online. Not only are you saving time and money and helping the environment at the same time, but you are also earning cash back rewards on every transaction. It's a win-win for everyone!

Easy Cash Back Reward Redemption

Once you earn at least $50 in rewards you can choose to have the money directly debited to your bank account, credited to your Discover More account, or redeemed for gift cards or merchandise from top retailers. You can also opt to donate your cash back rewards to your favorite charity. If you want to see your rewards go further, Discover has partnered with over 100 retailers that will allow you to redeem your rewards for gift certificates worth almost double the face amount. Your rewards don't expire, unless your account goes inactive for 36 consecutive months, and if you miss 2 payments you will forfeit any and all rewards earned on your account. Just one more reason to make all your payments on-time.

Other Notable Perks

If you use your Discover More Card to book a vacation and something happens, you may be covered by your built-in travel insurance. Be sure to check all the terms and conditions in your card holder agreement. As part of their 0$ fraud liability guarantee, if someone uses your card fraudulently, you won't be on the hook for any of it.

So the bottom line is this; if you want to get into financial shape this year look no further than the Discover More Card. By transferring your high-interest balances to your Discover More Card during the promotional no transfer fee period and paying it off within 12 months, you will be able to save hundreds of dollars, enabling you to pay down any other debts that much faster. You also have the opportunity to earn unlimited rewards on nearly every purchase you make and redeem them as you see fit, while never paying an annual fee for any of it.

You can visit www.balancetransfer.cc to compare credit cards, including 0% balance transfer credit cards and no fee balance transfer cards.

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