The Discover it card is basically credit cards that can be used at a variety of retailers around the country. It offers rewards in the form of cash back, gift certificates, and travel miles. This card does have a higher than average interest rate because it is considered to be an “in store” card. This means that you can only use it at particular retailers which is one reason why so many people are choosing this card over other ones.
The Discover it card has an interest rate of 5.00%. This rate is not going to be a lot higher than the national average so if you are looking for a good rate this is not going to be too hard to find. The interest will stay fairly similar to that of other credit cards. It is a great way to get rewards but at a high rate of interest. You do need to be aware that if you do not pay your bill on time that you could get hit with a steep fee.
You do have options with this credit card. If you pay your bill on time then you do not have to pay any interest or fees. If you go over your credit card limit then you could end up with a late fee. These fees can be extremely annoying and if you do not pay them off very soon you can find yourself in a much worse situation than before.
With a high interest rate card like this you will find it very difficult to save money. You will also find that the rewards are not very significant. You will get a certain percentage back from purchases but this percentage is not much. This means that you have to spend a lot of money in order to get any kind of money back from this credit card. This will make this rate card a great option for people who need cash flow now, but do not want to pay an outrageous interest rate.
Another reason why you should stay away from this card is the fees and penalties that it has. You will have to pay an extra fee every time you make a late payment. If you are already paying too much interest this could add up to a lot. This can be especially true if you have a lot of credit or if you often use the card to pay for things you do not have money for right now. This could end up costing you more money than you would like.
The Discover It rate card is not the best option for you if you need an interest rate that is low. The low rate is only for a short period of time. After this period is over you will have to pay the normal interest rate again. This can be a hassle for those who cannot afford to pay off their entire balance each month. This option can only work for people who are able to pay their entire balance in full every month or for people who are good at managing their credit cards.
It is possible that you will qualify for a no application fee credit card. However, if you apply for one you will likely be rejected. This is because you will have a better chance of qualifying for a regular credit card that has a higher interest rate. People who qualify for these cards are normally people who own a business that is on the line. These people are usually paying hundreds of thousands of dollars in interest each year on their credit cards. They do not want to take out a Discover It credit card so they are not interested in applying for a no application fee credit card.
If you are still determined to obtain a no application fee credit card, you will want to look around online. There are many different websites that offer them and most of them will provide you with the Discover It interest rate. You will be able to compare the various offers to find the lowest rate possible.
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