Overview: The Discover Open Road Card features high spending limits and a rebate program that awards the highest rebates for gas purchases and auto maintenance expenses. The lowest rebate is earned on purchases made at discount stores and warehouse clubs, and all other purchases qualify for a modest rebate. The exact rebate that will be awarded varies depending on the amount that has been spent on the card. Therefore, only certain purchases will qualify for the maximum rebate. A certain rebate amount must be earned before it can be claimed. There are no limits on rebates, and rebates do not expire on active accounts. There is no annual fee, an introductory APR for purchases and balance transfers, and a reasonable APR after the introductory term with good credit. Standard benefits like auto rental insurance are included. Those considering this card should note that over the limit, balance transfer, late payment, and cash advance fees apply.
Pro and cons of the card:
Pros:
Earn bonus rebates on gas purchases and auto maintenance expenses
Earn rebates on all purchases
No limits on rebates
Rebates do not expire on active accounts
No annual fee
Introductory APR for purchases and balance transfers
Reasonable APR with good credit
Benefits like auto rental insurance are included
Qualify for bonus rebates when rebates are redeemed for gift certificates from select locations
High spending limits
Cons:
Purchases at discount stores and warehouse clubs qualify for only a modest rebate
Must meet set spending levels to qualify for the maximum rebate
Rebates can only be redeemed in increments
Variable APR depending on credit history
Method used to calculate finance charges means this card is not ideal for those who carry a balance
Late payment and over the limit fees
Fees for balance transfers and cash advances
Excellent Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Bad/Poor Credit
350-619
No Credit
0-0
Do You Know Your Credit Score? Find Out Now!
Credit Card will be charged, if Membership NOT cancelled!!
A credit score
is a number generally between 300-850, based on a statistical
analysis of a person's credit files. This score represents the credit
worthiness of a person. A credit score is assigned to each individual, to rate
how risky a borrower he or she is--the higher the score, the less
risk the individual poses to creditors. In most cases, your credit score will determine whether you will be
approved for a credit card.
1. Credit Scores range from 300-850, the higher the better 2. Most lenders base approval on your credit score. 3. Higher Scores mean lower payments and better deals. 4. Higher Scores mean Lower interest rates. 5. Scores are determined by 5 main categories:
Payment History
Amounts Owed
Length of Credit History
Type of Credit Used
New Credit
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* See the online Gas.discovercard.com (www.gasdiscovercard.com) credit card application for details about terms and conditions and offers.
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Type of credit needed: Good Credit
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