Credit Cards

[hunting_bears]

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.

[Cooneyca]

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...

Message Edited by Cooneyca on 10-31-2007 06:25 PM

[haulingthescoreup]

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.

[PenguinGeek]

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?

[hunting_bears]

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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?