The Discover Gold Card may just be one of the best types of credit cards for you. If you have good credit or better, you may be able to obtain this credit card with a minimum of a $500 limit to it. You will find that it offers a good reward in cash back benefits and it offers very good interest rates on the line of credit. The Discover Gold Card may just be an ideal choice for your needs.
You will start out with a 12 month introductory period at a interest rate of 0%. This applies to both purchases and balance transfers during that time period. There are some restrictions to take into consideration though. Yet, one of the most affordable benefits of this credit card is its APR. It has a variable APR of 10.99% on purchases and a mere 21.99 APR fixed on cash advances. A disadvantage is that it uses the Two Cycles average daily balance method for calculation which can end up costing you more if you carry a balance on your credit card. It does offer a bit longer of a grace period at 25 days and there is no annual fee.
The reward program offered by the Discover Gold Card offers a minimum rebate of .25% up to 5%. If you sign up for Cashback Bonus on purchases from the Get More promotions, you can earn a full 5% back on certain merchants. You will earn .25% rebate at warehouse clubs as well as discount stores that qualify. Your rebate amount is dependant on how much you spend. If you spend $1500, you earn .25%, for up to $3000, you earn .5% and for over $3000, you earn 1% cash back. You can redeem your cash back in $20 increments. There is no limit to what you can earn.
The Discover Gold offers excellent interest rates and provides for a good cash back program for those that qualify.
