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Discover Card???

anyone have one? pros? cons? I got a thing in the mail for 0% on balance transfers (until June 2010_)and I want to get rid of my AMEX as it sucks sooooo was just maybe thinking about doing this...

Re: Discover Card???

  • We have one.  I didn't really see any cons about it (except for the fact that not everyone takes it).  I really liked that our discover card automatically gave us free trip insurance when we would use the card to buy a flight.  I don't know if all Discover cards do this or just the one we had.
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  • DH has one and we like the cash back feature. The only con I can think of is that not every place takes it, but we haven't run into that very often.
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  • You basically can't use it overseas at all.

    DH had two with 0% interest but he had to make 2 purchases a month to keep it that way.

    We would go to Kinkos and make a B&W copy for $.07 on each. I think they changed it to a purchase of $5 or more...but ours were already paid off.

  • What does the interest rate jump to after June? Can you get the balance paid off before then?

    DH had a Discover card that we hated. It was just a hassle and not worth the "benefits".

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  • Thanks for the input..

    Belhurst - why did you hate it? I hate my AMEX I don't charge enough to get rewards toward a flight, etc..  and the interst is really high so I want to get rid of it. the interest does jump to between 11-17% it says.. but I don't have that much I want to transfer so I should be able to get it paid offin 6 months.

  • The interest rate was high, so many places don't take it, the rewards weren't worth it- there was also something stupid they did that took forever to fix. I can't remember what it was now.

    We just paid off all our cards and don't bother with any of them anymore. I have a USAA card I've had since I was 18 that has a ridiculously high limit that we hang on to for emergencies only.

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  • I've never had a Discover card personally, but my parents had one and hated it.  I don't remember exactly why but they didn't keep it for long.

    I love my AMEX. We put all of our monthly bills on it and then pay it off every month so we rack up points really fast but we don't have to worry about the interest rate because it is paid in full every month.

  • Gibby - money matters would love you!!
  • Really?  Why?  Is it strange that we do that?   

    I hate carrying a balance on my credit cards.  I guess I learned how to manage money from my dad and he never carried a balance on his credit cards that he couldn't pay off at the end of the month.  The only credit card I have that has a balance is the one from Best Buy and it only has a balance because there was a promotion that the purchase would be interest free for 3 years.  We bought our LCD tv with it and are making payments since it's interest free.

  • oh no not strange at all.. Money Matters does not believe in carrying balances, when I was single I use to be able to do this much better.  I wish I could do this now (sigh....).  I hate balances....
  • I had one and the only CON was that if you cancel the card- they want payment of the balance IN FULL your next cycle, so don't cancel the card until the balance is $0. (I cancelled ALL my credit cards 9 years ago- and they were the only one with this condition.)
  • Have had one since 95, cashback bonus is great, you can get tons of gift cards for yourself or give them away as presents. There are also 3 month terms where you can earn 5 percent cashback bonus which means your charging makes you more cashback credit. Yes, it is declined at some places b/c it takes a separate machine, I've noticed this at non-chain restaurants or stores in the mall that are also one of a kind. A major place like Kohl's or Chili's takes them, but a mom and pop gift shop may not.
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  • If you're just going to use it for the 0% term to pay off your debt, I think it's a good idea.  Otherwise, I think there are better cards out there.  
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