Reply
New Contributor
hunting_bears
Posts: 112
Registered: ‎10-05-2007
0

Discover Motiva: Anyone have it? Heard reviews about it?

Hey people,
 
I'm interested in the card and I want to know who Discover pulls and what scores do I need to have?  I'm going to check my Fico scores in the next few days.  I'll update when I do.  I really like the balance transfer option on the card and that's the main reason I'm interested in the card.
Regular Contributor
Cooneyca
Posts: 140
Registered: ‎08-10-2007
0

Re: Discover Motiva: Anyone have it? Heard reviews about it?

[ Edited ]
The Motiva is a nice card and usually has a low APR, but if you're a "rewards" type person the Discover More or Open Road cards give you a bit more bang.  If you PIF, the slightly higher APRs that come with these cards-unless you have really, really nice scores, shouldn't have an impact
 
 
"nice card"  to me a Discover card was basically the holy grail for many years.  Now that I finally have ONE, I'm the expert eh... :smileywink:


Message Edited by Cooneyca on 10-31-2007 06:25 PM
Jan 07: tu 498, ex 501, eq 504
Oct 07: tu 716, ex 712, eq 723
Nov 07: tu 693, ex 664, eq 672_post app frenzy
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Discover Motiva: Anyone have it? Heard reviews about it?

Discover Motiva is meant for those who carry a balance. The deal is that if you pay on time for the first 6 months straight, they will pay the 7th month's interest for you. (It's "motivating" you to behave yourself.)

So it's pretty useless for those who PIF, but if you're carrying a balance, you might want to check into it.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
PenguinGeek
Posts: 381
Registered: ‎09-26-2007
0

Re: Discover Motiva: Anyone have it? Heard reviews about it?

Because we're in the process of digging ourselves out of CC debt, the Motiva initially sounded appealing, then I got to thinking, "What happens when we paid down?" I certainly don't want to get back into a position of carrying a balance for more than 6 months just to get interest back."

Nowadays, DH and I pretty much stick to just our Amex, respective biz cards and our Chase BP Visa and an occassional use of 1 MasterCard and 1 of our Discovers. We're currently content with current reward offerings and pay all new charges in full each month.

Then I got to thinking for those occasional times when we vacation and want to break up the expenses over a couple of months (instead of tapping the savings that we're rebuilding), it'd be nice to have a friendly BT or balance carrying card handy. For that, I'm considering the Discover Motiva or the PenFed 10.99% no BT fee Visa. I think I may have seen a CapOne card with no BT fees.

Do you plan on carrying a balance longer than 6 months at a time?
-------------------------

Hello, my name is, "PenguinGeek," and it's been 9 months since my last cc app and my score is now 34 points higher than when I app'd.
New Contributor
hunting_bears
Posts: 112
Registered: ‎10-05-2007
0

Re: Discover Motiva: Anyone have it? Heard reviews about it?



PenguinGeek wrote:
Because we're in the process of digging ourselves out of CC debt, the Motiva initially sounded appealing, then I got to thinking, "What happens when we paid down?" I certainly don't want to get back into a position of carrying a balance for more than 6 months just to get interest back."

Nowadays, DH and I pretty much stick to just our Amex, respective biz cards and our Chase BP Visa and an occassional use of 1 MasterCard and 1 of our Discovers. We're currently content with current reward offerings and pay all new charges in full each month.

Then I got to thinking for those occasional times when we vacation and want to break up the expenses over a couple of months (instead of tapping the savings that we're rebuilding), it'd be nice to have a friendly BT or balance carrying card handy. For that, I'm considering the Discover Motiva or the PenFed 10.99% no BT fee Visa. I think I may have seen a CapOne card with no BT fees.

Do you plan on carrying a balance longer than 6 months at a time?

Yes, I want to do a BT and I estimate it might take me a year to a year and a half to pay down the balance and the 3.9% APR sounds pretty good.  I don't want to take a chance with a 0% APR for a BT for 12 months because I'm not sure if I can get the balance completly PIF within that time frame. 
 
As for rewards, I don't need another card.  I have one that I use constantly for cash back/credit on statement.
 
Question: does anyone know which CR Discover pulls? 

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+