Verdict: The Discover® Motiva(SM) Card is a good value for those who carry credit card balances. To date, it is the only card of its kind that actually pays you for good credit management and the Discover Cashback bonuses are always a nice treat. However, if you prefer to keep those cards paid off each month (good for you!) then you may want to seek cards with benefits or reward offers that are better suited to your lifestyle and preferences.

Overview: The only card that gives you a full month’s interest back for on-time payments. With the new Discover® Motiva(SM) Card, your good credit management earns you cash rewards. Just make six on-time payments in a row and they will pay you the next month’s interest back as a Pay-On-Time Bonus.

How this card works: With the Discover Motiva Card, card members who make on-time monthly payments six times in a row receive their next month’s interest back as a Pay-On-Time Bonus(r)- twice a year, every year, when they pay on time every month. Pay-On-Time Bonus rewards are in addition to the unlimited Cashback Bonus(r) card members earn on all purchases, giving them two ways to earn cash rewards and putting more money in their pockets. The Discover Motiva Card even offers helpful payment tools such as automatic payment reminders and free payments by phone – even on their payment due date.

Benefits:

• Free payment by phone or online-even on your Payment Due Date
• Get timely e-mail reminders to help you avoid fees
• Choose a Payment Due Date that meets your needs
• Get a bonus equal to a full month’s interest each time you make six consecutive on-time payments
• 5% to 20% Cashback Bonus through exclusive online shopping site
• Up to 1% Cashback Bonus on all your other purchases, automatically
• Turn your Cashback Bonus into bigger rewards by redeeming with over 100 brand-name Partners
• $0 Fraud Liability guarantee and advanced fraud early warning alerts
• Shop protected with Secure Online Account Numbers

Fees: 3.99% Purchase APR For 6 months, as low as 11.99% variable APR thereafter based on your credit history; 3.99% Intro APR Balance transfers for 12 months for customers with excellent credit; Cash Advances: 23.99%; Default Rate: Up to 28.99%; Minimum Finance Charge: $0.50; Balance Transfer Transaction Fee: 3% for each balance transfer made under this offer; Cash Advance Transaction Fee: 3% for each cash advance with a minimum of $5 and no maximum; Late Fee: $19 on balances up to $250 and $39 on balances over $250; Overlimit Fee: $15 on balances up to $500 and $39 on balances over $500

Pros:

• If you keep a balance on your card and make on time payments the bonus is very attractive
• The introductory APR is a nice added benefit
• Nice cash back bonuses
• No annual fee
• Online access and payment reminders
• Free payments by phone

Cons:

• Encourages credit card debt by rewarding you for carrying a balance
• Interest rates are higher than what the low-risk borrowers they’re targeting would typically pay: a 3.9% introductory rate and balance transfer rate, instead of 0%; and a 11.99-18.99% rate for new purchases, instead of 1-2% over prime
• Cost of carrying a balance may far exceed the value of the reward

Apply for the Discover® Motiva(SM) Card.

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