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Discover® Business Card

• 0% Intro APR* on Balance Transfers and Card Purchases for 12 months
• 5% Cashback Bonus® on office supplies, 2% on gas, up to 1% on all other purchases
• Earn 5 to 20% Cashback Bonus at top retailers through Discover’s exclusive online shopping site
• No Annual Fee

Issuer : Morgan Stanley

Introductory APR : 0%

Introductory Period :  12 months

APR After Introductory Period:  13.99%

Cash Advance Rate : 22.99% variable rate

Annual Fee : No annual fee

Credit Line Possible :  The credit line possible is dependent on an evaluation of your credit rating and personal resources.

Insurance included :  The Discover Business Card offers platinum type rewards that include auto rental insurance, up to $500,000 in travel accident insurance.

Financing Configuration – Interest is calculated according to he average daily balance method used, by most credit card issuers.

Grace Period – You have twenty-five days after making a purchase with your Discover Business Card during which you do not have to pay interest.

The Best Thing About It—Through the reward program, cardholders earn a 5% cash back bonus on office supplies.

The Worst Thing About It – Taking out cash advances with this card is very expensive because of the high APR

Credit Rating Needed For Acceptance : Good Credit.

Who Is It For?

The Discover Business Card offers a flexible and generous cash back rebate program to business owners that applies to office supplies, gasoline and also general purchases.

The Benefits

 

There is a lucrative and well organized tiered rebate program. You earn 5% back in office supplies, 2% on gas purchases  and a 1% cash back on all other purchases.

You can double your rewards. With certain brand name partners the points you earn are doubled.

You get business checks. Furthermore these checks offer a cash rebate every time you use them.

Duplicate cards are free.  There is no fee for issuing duplicate Discover Business cards and you can customize employee limits.

You can keep track of all of your business expenses in one place.  You are also able to monitor what goes on in your account with full access to an online account report that is compatible with QuickBooks.

No Fraud Liability.  If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is typically deducted as fraud liability. Your are also protected by a Fraud Protection program.

The Drawbacks

 

The rebate has a cap that reduces it’s return percentage. There is a limit of $2000 applied to office supply purchases and gasoline purchases after which you only earn 1%. Rewards are redeemed in twenty-five days.

Monthly payments are applied to purchases before cash advances. The amounts that you pay monthly are not applied to the highest interest activities such as taking out a cash advance. This can make it difficult not to accumulate a lot of debt. 

A short grace period. Many credit cards don’t begin to garner interest on purchases until thirty days after purchase. Discover Business Card only gives you twenty-five days. There is also no grace period on balance transfers.

The APR is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with a costly variable default rate

 

Fees To Watch Out For

Late payment fee : None on balances up to $100; $39 on balances of $100 and greater.

Over The Limit fee : None on balances $1,000 or less; $39 on balances greater than $1,000.

Cash advance Fee : 3% for each cash advance, with a minimum of $5 and no maximum.

Balance Transfers : 3%, $5 minimum, $50 maximum (does not apply to introductory offer)

To Summarize –

The Discover Business Card has a tiered cash back program that is attractive as well as no annual fee and a year without interest (if you qualify for it.)  The APR is high so you better plan on being able to pay off the balance after the 12-month introductory period is over. Your online credit card account is also compatible with the software Quicken.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	12 Months	13.99%	None	Yes	Good Credit